Ventilators Market to 2020 - Technical Advances and Hospital Expansion Serve as Distinct Regional Growth Drivers, New Report Launched

Global Ventilators Market to See Significant Growth during the Forecast Period

The following figure shows the projected revenue growth of the global ventilators market during the 2013–2020 forecast period.

The global ventilators market was valued at $765.3m in 2013 and is forecast to exceed $1 billion by 2020, increasing at a CAGR of 5%. The increasing prevalence of Chronic Obstructive Pulmonary Disease (COPD), especially in the population aged 80 and above, will remain the major driver of growth. The high prevalence of COPD has led to an increase in critical care admissions, where the use of mechanical ventilation is common. The introduction of new technologies and ventilation modes that prevent lung injury, reduce the time that patients have to spend on mechanical ventilation and sedation, and improve the synchrony between the patient and ventilator, will be the other major drivers of growth. Emerging economies, especially India and China, present significant potential for growth and will increase the number of Intensive Care Unit (ICU) beds per 100,000 population. The improving reimbursement scenario for ICU procedures in developed economies is another major factor that will drive growth. The lack of standardized nomenclature for different ventilation modes, which leads to confusion among even the most experienced critical care physicians, and the lack of abundant clinical evidence to support newer ventilation technology are the major restraints.

Increase in Prevalence of Chronic Obstructive Pulmonary Disease will Continue to Drive Growth

COPD remains one of the major public health problems and is the fourth-leading cause of death in the US. It is expected to become the third-leading cause of death, worldwide, by 2020 (WHO, 2014). It affects 10% of the general population and 50% of heavy smokers (Rennard et al, 2006). COPD is responsible for one-fifth of all hospitalizations, worldwide. It is strongly associated with increasing age. Therefore, the medical attention required for COPD occurs late in life. The prevalence of COPD in the population aged 65 and above is estimated to be 14.2%, compared with 9.9% in people aged 40 and above (Halbert et al, 2006). In the US, the prevalence of COPD is 1.9% in individuals aged 40 and above, compared with 19.2% in the population older than 70. A twofold increase in COPD prevalence was observed for every 10-year increase in age (Buist et al, 2007).

Technological Advancements to Drive Growth of Ventilator Market

Technological advancements such as non-invasive ventilation and new ventilation modes aimed at achieving better synchrony between the respiratory mechanics of the patient and the ventilator are expected to drive the growth of the market. Companies are focusing on developing multimodal ventilators that act as a one-stop solution for critical care physicians handling a wide range of ICU procedures. New ventilation modes can reduce the time that patients have to spend on mechanical ventilation. New ventilation modes also help to reduce the risk of lung injury, in comparison to older methods, from high inspiratory pressure and are more customized to patients with varying level of complications. Ventilation modes can also help in reducing the time on sedation and promote speaking ability, to improve patient comfort during mechanical ventilation.

The increasing preference for non-invasive ventilation in the developed world will be another major driver of growth. The patient interfaces used by non-invasive ventilation during the ventilation procedure are different from those used by invasive ventilation. Non-invasive ventilation prevents the need for endotracheal intubation, which leads to infection and potential lung injury. Non-invasive ventilation thus reduces the risk of infection and lung injury, as well as improving patient comfort. These benefits are expected to drive the adoption of non-invasive ventilation during the forecast period. In Europe, most hospitals use non-invasive ventilation as the primary mode of ventilation. In the US, the use of non-invasive ventilation is on the rise, though the penetration levels are lower than in Europe. The low penetration of non-invasive ventilation in the US is attributed to the lack of efforts to increase respiratory therapy and nursing time and the inaccurate perception that additional time is required to implement non-invasive ventilation.

Rising Number of Intensive Care Beds in Emerging Economies

An increase in the number of hospitals has led to a surge in the number of ICU beds, which are equipped with ventilators. The surge in the number of ICU beds is the primary driver of the growth of the ventilators market in emerging economies, such as China and India. In China, the number of hospitals increased from 18,393 to 23,596 during the 2004–2013 period, which represents a cumulative increase of 28.2% (National Bureau of Statistics of China, 2014). This provided a significant opportunity for the leading players to capture the market. The number of ICU beds per 100,000 population was five in China, in 2011 (Liu Ling et al, 2013). In developed economies, it ranges from 3.9 to 24.6. With such a skewed ICU bed ratio, and healthcare reforms in place since 2009, there is significant potential for the ventilators market in China.

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