U.S. Mechanical Ventilators Market Size, Growth, Trends and Foresight to 2022 - 2027

11/dic/2020 11:55:20 Grand View Research Contatta l'autore

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The U.S. mechanical ventilators market size is expected to reach USD 1.71 billion by 2027, according to a new report by Grand View Research Inc. It is expected to expand at a CAGR of 3.0% from 2022 to 2027. The rising number of hospitalizations due to the coronavirus pandemic and increased need for ventilation among patients in the U.S. are expected to boost the adoption of mechanical ventilators.

One of the key driving factors is the rising prevalence of respiratory diseases, which is expected to have a significant impact on 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 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 Anesthesiologist provides guidelines for the management of difficult airway and the use of different devices at various stages of respiratory diseases.

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 Anesthesiologist provides guidelines for the management of difficult airway and the use of different devices at various stages of respiratory diseases.

Manufacturers are increasing their production capacity to meet the rising demand. Vyaire is the Illinois-based respiratory equipment manufacturer that has ramped up its production capacity by 50% and has started working in an additional second shift in the production line to boost the manufacturing of mechanical ventilators. To provide a safer environment for the healthcare workers, Medtronic is upgrading its existing PB980 (deployed in ICUs), which will allow the control of ventilators remotely away from the isolation room. As of June 15, 2020, as a pilot project, the company upgraded PB980 ventilators at 14 hospitals out of a total of 940 hospitals with installed bases across the U.S.

U.S. Mechanical Ventilators Market Report Highlights

·         By product, critical care ventilators captured the largest share of 40.05% in 2019 and are expected to maintain their lead throughout the forecast period owing to their increasing adoption in intensive care units due to a surge in the COVID-19 cases

·         The masks accessories segment is expected to witness lucrative growth in the coming years as these are cost-effective, disposable, and preventive devices and can be manufactured in bulk quantities to fight against the coronavirus outbreak

·         Competition in the market is high as major players are adopting strategies, such as distribution agreements, collaborations, and acquisitions, to get hold of a major share in the market

·         Emerging players are involved in the development of cost-effective products to gain a dominant position in the market

·         Manufacturers are bracing up to multiply the production capacity to meet the rising demand to overcome the COVID-19 outbreak

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/us-mechanical-ventilators-market

U.S. Mechanical Ventilators Market Segmentation

Grand View Research has segmented the U.S. mechanical ventilators market based on product:

U.S. Mechanical Ventilators Product Outlook (Revenue, USD Million, 2016 - 2027)

·         Ventilators

o    Critical Care Ventilators

o    Neonatal

o    Transport & Portable Ventilators

o    Others

·         Accessories

o    Breathing Circuit Sets

o    Flow Sensors

o    Endotracheal Tubes

o    Masks

o    Others

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