Based on the new market study by iData Research, the US mechanical ventilator market saw an incredible growth of nearly 33% in 2020, as ventilators have been vital tools in treating complications due to COVID-19. A ventilator’s purpose is to pump air into the lungs with a specified pressure and volume level to induce machine-dependent breathing. Mechanical ventilators can be invasive, where a tube is inserted into the patient’s airway, or non-invasive, where air is typically delivered through a face or nasal mask interface.
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Prior to 2020, the US ventilator market was set to experience steady growth, which was primarily attributed to the prevalence of chronic respiratory diseases among the growing aging population. Due to COVID19, the demand for ventilators soared in 2020 to accommodate for the increase in the number of patients. However, because most hospitals purchased the required number of mechanical ventilators in 2020, the US market is expected to decline by almost 18% in 2021, reaching the size of around $810 million.
How Mechanical Ventilator Market Will Change in 2021
COVID-19 related growth in 2020 was the most pronounced in the acute ventilator market. These mechanical ventilators are used in the intensive care units (ICU) and are capable of handling the most severe cases, particularly those affected by Acute Respiratory Distress Syndrome (ARDS)[1] – the main cause of death among COVID-19 patients. While 2020 saw an influx of acute mechanical ventilators, growth difficulties are expected in 2021 due to a dried-up buyers’ and sellers’ market. The surge in purchases will leave some hospitals without the need for new ventilators in the coming years, especially because of a machine’s increasing level of durability and lifespan.
However, the increased demand could be largely offset by the uncertainty of COVID-19 complications in the long term, which will secure some need from hospitals. Health institutions may also wish to continue to increase their installed base to have a higher ICU bed-to-ventilator ratio and be better prepared for potential respiratory health crises in the future.
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Emergency transport ventilators also saw considerable growth in 2020. This growth can be attributed to the unit’s lower price point and ability to be manufactured rapidly. While some transport ventilators can be used to treat ICU patients, many hospitals looked for more acute care ventilators to deal with the overwhelming number of COVID19 patients. As many of the units released from the U.S. national stockpile in 2020 were emergency transport ventilators, product demand could be adversely impacted in 2021 and beyond.
High-acuity, universal units are increasing in demand, at the detriment of dedicated neonatal ventilators. While high-frequency neonatal ventilators fill a niche, unique need for neonatal ICUs, the already slowing growth of dedicated units was accelerated due to COVID-19. A similar trend is occurring in the solely non-invasive ventilator market, as more universal ventilators are being equipped with non-invasive capability. Due to budget constraints, increasing ease of use and operability, the overall trend towards universal machines and away from dedicated units will prevail in the near future.
Rise of Sub-Acute & Home Care Ventilator Markets
The sub-acute and home care ventilator markets were significantly less impacted by COVID-19 compared to acute care ventilators. More resources and attention were put into increasing the higher-acuity ventilator base. Another primary reason was that the existing user base was noticeably impacted by COVID-19 related deaths, either prior to or after reaching the sub-acute care level. Additionally, home care is expensive and requires a home nurse or agent to overlook the patient. Thus, logistical and economic difficulties regarding these issues curbed market growth in 2020.
Looking towards the future, the long-term effects of COVID-19 on the respiratory system will greatly affect the sub-acute and home care markets. A shift towards sub-acute care treatment will propel the growth of associated markets in 2021 and beyond. While this is partially due to an increase in patients moving away from ICU-level ventilation, the aging U.S demographic will also significantly contribute to sub-acute growth. – John Fraser, leading Ventilator market expert at iData Research.
In 2018, over 16 million people, or 6.6% of adults, reported a diagnosis of any type of chronic obstructive pulmonary disease (chronic bronchitis, emphysema, or COPD). The U.S. Census Bureau projects that the population of people aged 50 or older will more than double by 2030, reaching 70 million. Alongside the long-term impact of COVID-19 complications, this will cause the prevalence of chronic respiratory disease to increase dramatically, which, in turn, could cause the home care, and especially the sub-acute care ventilator markets to experience significant long-term growth.
Total Mechanical Ventilator Market Forecast
Sub-acute ventilators are projected to grow rapidly in the long term due to unforeseen COVID-19 complications down the road, an aging US demographic, and the desired shift away from acute care and invasive ventilation. Growing technology and a greater desire for universal machines, as well as an aging population, will also spur growth in the total ventilator market.
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However, the total US Mechanical Ventilator market is expected to reach over $860 million by 2027, with negative growth rates expected for the years 2021 and 2022. After experiencing immense COVID-19 related growth in 2020, the biggest market segment, or the acute care ventilator market, is expected to stagnate for the near future. However, hospitals will be looking to increase their base of ICU ventilators, to better serve their patients as well as prepare for future respiratory-related calamities.
[1] https://www.reuters.com/article/us-health-coronavirus-ventilators-insigh-idUSKBN28C1N6
