U.S. Mechanical Ventilator Market Size, Share & Trends Analysis Report By Product (Critical Care, Neonatal, Portable, Accessories, Flow Sensors, Breathing Circuits, Masks), By End-use And Segment Forecasts, 2022 - 2030

Report Overview

The U.S. mechanical ventilator market size was valued at USD 2.28 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.5% from 2022 to 2030. An unusually high incidence of COVID-19 cases has led to a large gap between demand and supply of mechanical ventilators to an extent that automotive and other industrial equipment manufacturers had to step in to increase the supply of this life-saving device. Mechanical ventilators-the life support equipment-are crucial in the management of chronic conditions, such as COPD, respiratory failure, and post-operative care that requires mechanical support for respiration. The COVID-19 pandemic has contributed to the growth of the market.

In 2021 the demand for ventilators is normalized and manufacturers registered a gradual decrease in their sales due to the loaded acquisition of ventilators in the COVID-19 crisis. Moreover, the termination of HHS’ contract with Philips, Hamilton, and Vyaire for ventilator production adds up to the declining growth of the ventilator market. The introduction of alternative treatment solutions such as makeshift ventilators, manual resuscitators, PAP devices, anesthesia gas machines, etc. along with the declining COVID-19 critically ill population and vaccine launch would lower the market growth.

The market is moving toward saturation as various manufacturers have speeded up their production capacities to meet the existing demand. However, as the prevalence of chronic diseases is on the rise, the demand for critical care units, like ventilators, is expected to be high in the coming years. Moreover, with technological advancements, the demand for low-cost and advanced feature ventilators is anticipated to increase in the years to come.

Export bans on critical care equipment implemented by various governments during the pandemic have resulted in encouraging local manufacturers to focus on increasing their production capacities. For instance, in India, AgVa Healthcare, a local manufacturer is helping the government by increasing the supply and production of ventilators. These types of initiatives undertaken by developing countries resulted in the decreasing demand from the U.S. manufacturers thereby responsible for declining market growth in 2022.

Product Insights

The ventilators segment dominated the U.S. mechanical ventilator market with a revenue share of around 84.0% in 2021 owing to their increased product demand in Intensive Care Units (ICUs). Critical care devices held the largest revenue share compared to other types of ventilators due to their high cost and demand in ICUs.

The portable and transport ventilators are anticipated to witness the fastest growth over the forecast period owing to their efficiency and flexibility in different care delivery settings. These devices find a range of applications in healthcare settings from ambulatory centers to home healthcare. High demand for point-of-care treatment and a high incidence rate of medical emergencies are the key factors contributing to the growth.

An increase in the number of government initiatives aimed at providing safe, affordable, and quality healthcare is driving the adoption of neonatal ventilators. For example, the American Society of Anesthesiologists provides guidelines for the management of difficult airways and the use of different devices at various stages of respiratory diseases.

Moreover, the rise in neonatal deaths by birth asphyxia has led the medical bodies to implement various initiatives to reduce such incidences. The WHO and the UNICEF, along with various neonatal resuscitation partners, have developed the Every Newborn Action Plan (ENAP), which includes the availability, scale-up, and use of various devices expected to reduce global mortality rates in neonates. In addition, these initiatives aim at providing high-quality and affordable products, that can be used in settings with low resources.

The accessories segment is expected to witness lucrative growth in the coming years due to its repetitive usage. The accessories market is further categorized into flow sensors, breathing circuit sets, endotracheal tubes, masks, and other accessories, such as expiratory valves, and humidifiers. The endotracheal tubes segment gained popularity owing to its crucial role in mechanical ventilation. These tubes are useful in maintaining and establishing airway patency and protecting the airway against aspiration.

End-use Insights

The hospitals segment dominated in 2021 with a revenue share of over 45.0%. This is owing to rising hospitals’ expenditure that allows the acceptance of technologically advanced ventilators. In addition, the availability of health care providers to operate these ventilators, the improved emphasis on better health outcomes, and the enhanced productivity of hospitals are contributing to the segment growth. Additionally, constant monitoring offered by hospital staff is expected to increase the preference of patients for these healthcare facilities.

The home healthcare segment is likely to witness the fastest growth during the forecast timeline. A growing number of government initiatives heading for curbing healthcare expenditures by promoting home healthcare to support the market growth. Value-based healthcare is another major factor contributing to market growth. In the U.S., Medicare reimbursements are highly favorable in offering value-based healthcare for improved patient outcomes at a low cost. Thus, in-home care has become a modality of choice for treatment and is expected to witness lucrative growth over the forecast period.

Key Companies & Market Share Insights

The players are adopting strategies such as cost-effective product launch, M&A, and collaboration with the local players or assemblers in order to gain an edge over the competition. For instance, in October 2021, U.S. based company named Movair announced the launch of the Luisa ventilator to be used in homes, hospitals, or potable settings. It has added benefit of high flow oxygen therapy. These types of initiatives undertaken by companies are projected to provide this market with lucrative opportunities. Some prominent players in the U.S. mechanical ventilator market include:

• Getinge AB

• Vyaire Medical Inc.

• Medtronic

• Drägerwerk AG & Co. KGaA

• GE Healthcare

• Koninklijke Philips N.V.

• Smiths Group plc

• Hamilton Medical

• ResMed Inc.

• Ventec Life Systems

U.S. Mechanical Ventilator Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the U.S. mechanical ventilator market report based on product and end use:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Ventilators

    • Critical Care

    • Neonatal

    • Transport & Portable

    • Others

  • Accessories

    • Breathing Circuit Sets

    • Flow sensors

    • Endotracheal Tubes

    • Masks

    • Others

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospital

  • Home care

  • Others