U.S. Mechanical Ventilator Market Size to Surpass USD 4.23 Bn by 2032
The U.S. mechanical ventilator market size was estimated at USD 3.27 billion in 2022 and is expected to surpass around USD 4.23 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 2.6% during the forecast period 2023 to 2032.
Key Takeaways:
U.S. Mechanical Ventilator Market Report Scope
| Report Attribute | Details |
| Market Size in 2023 | USD 3.36 Billion |
| Market Size by 2032 | USD 4.23 Billion |
| Growth Rate From 2023 to 2032 | CAGR of 2.6% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Segments Covered | Product, End-use |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Companies Profiled | 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 |
The rising number of hospitalizations due to the coronavirus pandemic and the increased need for ventilation among patients in the U.S. contributed to the high demand for ventilators during the COVID-19 pandemic.
The rising prevalence of respiratory diseases has significantly impacted the market growth. The adoption of long-term Home Mechanical Ventilation (HMV) in case of chronic respiratory failure due to diseases, such as thoracic disease, Chronic Obstructive Pulmonary Disorder (COPD), and neuromuscular disease, is expected to increase over the forecast period.
According to a study by the World Health Organization (WHO), moderate to severe COPD affects around 65 million individuals worldwide, making it the third leading cause of death. These estimates are expected to rise over the years owing to the growing geriatric population, increasing exposure to tobacco smoke, and indoor as well as outdoor pollution. These factors are anticipated to boost the overall market growth.
An increase in the number of government initiatives aimed at providing safe, affordable, and quality healthcare is driving the adoption of these devices. 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.
Manufacturers have increased their production capacity to meet an exponential demand during the pandemic. For instance, Vyaire, an Illinois-based respiratory equipment manufacturer, ramped up its production capacity by 50%. To provide a safer environment for the healthcare workers, Medtronic upgraded its existing PB980 (deployed in ICUs), which will allow the control of ventilators remotely away from the isolation room. These types of initiatives positively impacted the ventilators market growth in the U.S.
However, a boost in ventilator production due to coronavirus wave is expected to be normalized by 2022 due to the decreased infection rates, dependency of patients on life support equipment, and development of an effective COVID-19 vaccine and therapeutics.
Product Insights
The ventilators segment dominated the U.S. mechanical ventilator market with a revenue share of around 86.0% in 2022 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 2022 with a revenue share of over 47.9%. 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:
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the U.S. Mechanical Ventilator market.
By Product
By End-use
Chapter 1 Research Methodology
1.1 Research Methodology
1.2 Information Procurement
1.2.1 Purchased Database:
1.2.2 Nova one advisor’s Internal Database
1.2.3 Secondary Sources
1.2.4 Primary Research:
1.2.5 Details of Primary Research
1.3 Information or Data Analysis
1.3.1 Estimates and Forecast Timeline
1.3.2 Data Analysis Models
1.4 Market Formulation & Validation
1.5 Model Details
1.5.1 Commodity Workflow Analysis (Model 1)
1.5.2 Volume Price Analysis (Model 2)
1.6 List of Secondary Sources
1.7 Abbreviations
1.8 Report Objectives
Chapter 2 Executive Summary
2.1 Market Snapshot 2023
2.1.1 U.S. Mechanical Ventilator Market, 2020 - 2032
Chapter 3 Industry Outlook
3.1 Market Segmentation
3.2 Market Lineage Outlook
3.2.1 Parent Market Analysis
3.2.2 Ancillary Market Analysis
3.3 Penetration & Growth Prospect Mapping
3.4 Market Variable Analysis
3.4.1 Market Driver Analysis
3.4.1.1 COVID-19 outbreak
3.4.1.2 Increasing in Prevalence of Respiratory Diseases
3.4.1.3 Growing Geriatric Population
3.4.1.4 Technological Advancements
3.4.1.5 Increasing Number of Government Initiatives
3.4.2 Market Restraint Analysis
3.4.2.1 Capital Intensive Nature
3.4.2.2 Product Recall and Failure
3.5 Business Environment Analysis Tools
3.5.1 SWOT Analysis, by PEST
3.5.2 Porter’s Five Forces Analysis
3.6 Technology Trend Analysis
3.6.1 Changing Technology & Adoption Pattern
Chapter 4 COVID-19 Impact Analysis
4.1 Demand Analysis
4.1.1 Total Installed Base Till 2019 & 2020 (Quarterly Analysis)
4.1.2 Healthcare Staff Analysis
4.1.3 Critical Care Beds Analysis
4.1.4 Projected Demand
4.2 Supply Chain Analysis
4.2.1 Key Components
4.2.2 Key Component Suppliers
4.2.3 Obstacles in Supply Chain Due to COVID-19 Outbreak
4.2.4 Temporary Trade Measures
4.3 Product Lifecycle Analysis
4.3.1 Shelf life
4.3.2 Reprocessing of Mechanical Ventilators
4.4 Cost Structure Analysis
4.4.1 Average Cost of Mechanical Ventilators & Accessories
4.4.2 Facility Set up Cost
4.5 Manufacturing Trend Analysis
4.5.1 Drivers
4.5.1.1 Export Ban of Critical Care Equipment
4.5.1.2 Established Assembly Line for Ventilators Production
4.5.2 Restraints
4.5.2.1 Bottlenecks in Production
4.6 Regulatory Framework
4.6.1 Regulatory Changes Due to COVID-19 Outbreak
4.6.2 Emergency Use Authorization (EUAs): Ventilators and Ventilator Accessories
4.7 Case Studies
Chapter 5 U.S. Mechanical Ventilator Market: Competitive Analysis
5.1 Vendor Landscape
5.1.1 Market Participation Categorization
5.1.1.1 Market Leader
5.1.1.2 Innovators
5.1.1.2.1 Recent Innovations
5.2 Public Companies
5.2.1 Estimated Company Market Share Analysis, 2023
5.2.2 Company Market Position Analysis
5.2.3 Heat Map Analysis
5.3 Opportunity Analysis
5.3.1 Market influencer analysis
5.3.2 Consumer Preference Matrix
5.3.3 Market Entry Strategies
Chapter 6 U.S. Mechanical Ventilator Market: Product Segment Analysis
6.1 U.S. Mechanical Ventilator Market: Product Movement Analysis
6.2 Ventilators
6.2.1 Ventilators Market, 2020 - 2032
6.2.2 Critical Care Ventilators
6.2.2.1 Critical Care Ventilators Market, 2020 - 2032
6.2.3 Neonatal
6.2.3.1 Neonatal Market, 2020 - 2032
6.2.4 Transport and Portable Ventilators
6.2.4.1 Transport and Portable Ventilators Market, 2020 - 2032
6.2.5 Other Ventilators
6.2.5.1 Others Market, 2020 - 2032
6.3 Accessories
6.3.1 Accessories Market, 2020 - 2032
6.3.2 Flow Sensors
6.3.2.1 Flow Sensors Market, 2020 - 2032
6.3.3 Breathing Circuits
6.3.3.1 Breathing Circuits Market, 2020 - 2032
6.3.4 Endotracheal Tube
6.3.4.1 Endotracheal Tube Market, 2020 - 2032
6.3.5 Masks
6.3.5.1 Masks Market, 2020 - 2032
6.3.6 Others
6.3.6.1 Others Market, 2020 - 2032
Chapter 7 U.S. Mechanical Ventilator Market: End-use Segment Analysis
7.1 U.S. Mechanical Ventilator Market: end-use Movement Analysis
7.2 Hospital
7.2.1 Hospital Market, 2020 - 2032
7.3 Home Care
7.3.1 Home Care Market, 2020 - 2032
7.4 Others
7.4.1 Others Market, 2020 - 2032
Chapter 8 Company Profiles
8.1 Getinge AB
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Product Benchmarking
8.1.4 Strategic Initiatives
8.2 Vyaire Medical Inc.
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Product Benchmarking
8.2.4 Strategic Initiatives
8.3 Medtronic
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Product Benchmarking
8.3.4 Strategic Initiatives
8.4 Drägerwerk AG & Co. KGaA
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.2.1 Product Benchmarking
8.4.3 Strategic Initiatives
8.5 GE Healthcare
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Product Benchmarking
8.5.4 Strategic Initiatives
8.6 Koninklijke Philips N.V.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Product Benchmarking
8.6.4 Strategic Initiatives
8.7 Smiths Group plc
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Product Benchmarking
8.7.4 Strategic Initiatives
8.8 Hamilton Medical
8.8.1 Company Overview
8.8.2 Product Benchmarking
8.8.3 Strategic Initiatives
8.9 ResMed Inc.
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Product Benchmarking
8.9.4 Strategic Initiatives
8.10 Ventec Life Systems
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Product Benchmarking
8.10.4 Strategic Initiatives
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers