Data Research, a global consulting and market research firm, has released exclusive research on the global ventilator market, addressing key insights and the consequences of COVID-19 in 2020, 2021, and beyond. Due to the increased demand for mechanical ventilation during the global COVID-19 pandemic, the global ventilator market increased rapidly. While the overall market experienced a drastic increase, iData’s analysts predict that the growth will decrease following the surge in demand before leveling off to pre-pandemic levels.
According to iData’s Global Report for Ventilators, the global market covering 70 countries and 7 regions, was estimated at just over $2.4 billion in 2020. This market experienced a substantial increase in 2020 following COVID-19 demands which encouraged a 64.5% increase from the 2019 valuation. However, the market has started to decrease moving into 2021 and is expected to eventually level off around $1.7 billion by 2027. This report includes unit sales, average selling prices, market drivers and limiters, competitive market share analysis, and more.
iData’s analysis includes acute care ventilators, sub-acute care ventilators, home care ventilators, neonatal ventilators, and non-invasive ventilators. The single largest market driver in the short term for ventilators is the devastating impact of the COVID-19 pandemic. Despite being the single biggest short-term driver in the market, the result of the surge in sales due to COVID-19 will largely be reversed in the years following the resolution of the pandemic. This will effectively neutralize any short-term gains and result in markets returning to a stable, mature state.
“COVID-19 caused a surge in the overall ventilator market”, says Dr. Kamran Zamanian, Senior Partner and CEO of iData Research, “However, due to the abnormally high sales numbers and the influx of ventilators, the market is expected to decrease.”
Among the many competitors within these markets, Philips Healthcare, Getinge, and Dräger Medical are the leaders followed by Medtronic and Hamilton Medical. Vyaire, ResMed, and GE Healthcare are trailing the leaders by a substantial margin, pushing for a larger share of the global market. There are a multitude of other competitors analyzed within this report which have one or more products offered in this space.
To accurately estimate market shares, units sold, average selling prices, product segments, and brands as well as procedural volumes, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
Follow the link below to download a Free Research Summary of the Global Market Report for Ventilators. The full global report is also available for purchase starting at $4,995 for a single license:
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