Michael Barbella, Managing Editor02.01.21
Last year's urgent need for ventilators to help save the lives of COVID-19 patients prompted the worldwide ventiators market to triple in value, reaching $4.8 billion in 2020 from $1.1 billion before the pandemic began.
Despite a gradual decrease in sales this year due to load purchasing in 2020, the market is expected to grow steadily, surpassing $1.6 billion by 2030, according to GlobalData, a worldwide data and analytics company.
The majority of recently mass-produced ventilators are considered emergency ventilators. There are still regions with demand for advanced ICU ventilators that are designed for invasive ventilation of severe patients. Additionally, the pandemic positively impacts the market for overall respiratory care infrastructure. Countries around the world will continue to build inventory of ICU ventilators, associated capital equipment like humidifiers, oxygen supply systems, and disposables in the following years.
Tina Deng, MSc, a principal medical devices analyst at GlobalData, said: “Global demand for ventilators will steadily return to normal. However, the future outlook of the ventilators market is promising, leading by the intensive care unit (ICU) ventilators segment.”
The COVID-19 pandemic created unique partnerships with medical device companies and the engineering sector. For example, automotive makers that are non-medical manufacturers had temporarily shifted their focus to developing ventilators, by cooperating with current medical manufacturers. These collaboration experiences will accelerate the implementation of new technology such as 3D-printing in the medical industry.
Deng noted: “The spotlight on ventilators during the pandemic also attracts researchers’ attention. Continuous innovation will improve the devices and clinical outcomes. In the near future, more advanced function and compact sizes of the modern ventilators will enable them to effectively ventilate all patients in all settings, invasively or non-invasively. To ensure optimum respiratory care, smart ventilators will better adapt to each different individual’s situation and a patient's changing condition. This will not only reduce complications and sedation, but also greatly increase patient comfort and wean patients earlier.”
Despite a gradual decrease in sales this year due to load purchasing in 2020, the market is expected to grow steadily, surpassing $1.6 billion by 2030, according to GlobalData, a worldwide data and analytics company.
The majority of recently mass-produced ventilators are considered emergency ventilators. There are still regions with demand for advanced ICU ventilators that are designed for invasive ventilation of severe patients. Additionally, the pandemic positively impacts the market for overall respiratory care infrastructure. Countries around the world will continue to build inventory of ICU ventilators, associated capital equipment like humidifiers, oxygen supply systems, and disposables in the following years.
Tina Deng, MSc, a principal medical devices analyst at GlobalData, said: “Global demand for ventilators will steadily return to normal. However, the future outlook of the ventilators market is promising, leading by the intensive care unit (ICU) ventilators segment.”
The COVID-19 pandemic created unique partnerships with medical device companies and the engineering sector. For example, automotive makers that are non-medical manufacturers had temporarily shifted their focus to developing ventilators, by cooperating with current medical manufacturers. These collaboration experiences will accelerate the implementation of new technology such as 3D-printing in the medical industry.
Deng noted: “The spotlight on ventilators during the pandemic also attracts researchers’ attention. Continuous innovation will improve the devices and clinical outcomes. In the near future, more advanced function and compact sizes of the modern ventilators will enable them to effectively ventilate all patients in all settings, invasively or non-invasively. To ensure optimum respiratory care, smart ventilators will better adapt to each different individual’s situation and a patient's changing condition. This will not only reduce complications and sedation, but also greatly increase patient comfort and wean patients earlier.”