Asia Pacific Mechanical Ventilators Market share was valued at USD 629.1 million in 2019 and is expected to witness around 4.8% CAGR from 2020 to 2026.
Mechanical ventilator is a machine that helps critically ill patients to decrease the work of breathing. These ventilators ensure that the body of patient is receiving the adequate oxygen. Mechanical ventilators preserve a stable airway and prevents injury from aspiration. Mechanical ventilators provide support to the patients suffering from multiple sclerosis, flail chest, asthma and pneumonia.
Growing prevalence of coronavirus disease will generate the need for intensive care beds thereby, enhancing the market demand. As Indian government has banned the export of coronavirus linked medical products including ventilators, it has resulted in the shortage of ventilators across the country. Hence, market players are adopting partnerships and collaborations to address COVID-19 pandemic. For instance, Maruti Suzuki has pledged to help AgVa healthcare in increasing their production capacity of ventilators. This production expansion will help India to fight against COVID-19 thereby, fueling the market growth. Moreover, rising investments in healthcare sector and advent of new technologies related to ventilatory support will positively contribute to the growth of Asia Pacific mechanical ventilators market.
Increasing number of patients suffering from respiratory diseases such as asthma, lung cancer, cystic fibrosis, chronic obstructive pulmonary disease (COPD) will drive the market growth across Asia Pacific region. For instance, according to a recently published data, in 2018, around 45.7 million people in China suffered from asthma. Hence, owing to such large patient pool in Chinese population, the market will show substantial growth over the analysis period. Additionally, increasing incidences of coronavirus disease in the countries across Asia Pacific region will fuel the market growth. For instance, according to a recently published report by the World Health Organization (WHO), in Singapore, in May 2020, the total number of patients affected due to coronavirus disease was around 18,778. Thus, the countries with rapid increase of coronavirus cases will boost the demand for mechanical ventilators thereby, spurring the market growth.
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Asia Pacific Market, By Product
Based on product, the market is bifurcated as intensive care ventilators and portable ventilators. Intensive care ventilators segment held a market share of around 84% in 2019. The intensive care ventilators are subdivided into high-end, mid-end and basic-end ventilators. Rapidly growing cases of COVID-19 and increasing number of ICU admissions across Asia Pacific region are some of the factors boosting the demand for mechanical ventilators. For instance, according to a recently published data by the Centers for Disease Dynamics, Economics & Policy (CDDEP), India currently has approximately 95,000 ICU beds and 48,000 ventilators. As the coronavirus cases in India are rising over the last few months, the country will need more mechanical ventilators in the near future. This will trigger the market growth across Asia Pacific region.
Asia Pacific Market, By Interface
On the basis of interface, the mechanical ventilators is divided as invasive ventilation and non-invasive ventilation. Non-invasive ventilation segment was valued at around USD 140 million in 2019. The non-invasive ventilation provides better tolerance and convenience as compared to invasive ventilation. The non-invasive ventilation includes continuous positive airway pressure (CPAP), bilevel positive airway pressure (BiPAP), automatic positive airway pressure (APAP) and others. The segmental growth is attributed to the advantages such as cost effectiveness and easy availability of non-invasive ventilation in the hospitals. Hence, aforementioned factors will enhance the market growth in the upcoming years.
Asia Pacific Market, By Ventilator Type
Based on ventilator type, the market is segmented as adult ventilators and neonatal ventilators. Neonatal ventilators segment held a significant share in 2019 and was valued at around USD 63 million. These ventilators have an adjustment of trigger sensitivity for inspiration and expiration. Increasing number of preterm births in the countries across Asia Pacific region will support the market growth. For instance, according to a recently published data by the Miracle Babies Foundation, in Australia, 1 in 10 babies are born premature. Thus, the neonatal ventilators play a vital role in increasing the chances of survival of such newborn babies. Hence, the demand for neonatal ventilators will increase in the coming years.
Asia Pacific Market, By Application
By application, the market is divided as resuscitation, homecare applications, emergency/transport, sleep apnea therapy, anesthesiology, clinical applications and others. The emergency/transport segment held a market share of around 18% in 2019. Rising medical emergencies due to the high prevalence of coronavirus disease across Asia Pacific region will contribute to the market growth. Additionally, respiratory disorders such as lung cancer, asthma, bronchitis and pneumonia require immediate emergency care otherwise, it can result in respiratory failure or death of patient. Hence, patients suffering from such disorders will positively impact the segmental growth thereby, fostering the market growth.
Asia Pacific Market, By Mode
Based on mode, the market is bifurcated as combined mode ventilator, control mode ventilator and pressure mode ventilator. The control mode ventilator segment was valued at around USD 212 million in 2019. In control ventilation, the tidal volume is the defined variable which is used by the ventilator to give feedback to the solenoid valve circuits. The control mode ventilator has an advantage of maintaining a stable minute volume over a range of changing pulmonary characteristics. In addition, the initial flow rate in control mode ventilator is lower than in other modes. Hence, owing to these advantages, the segment will show substantial growth in the projected years.
Asia Pacific Market, By End-use
On the basis of end-use, the market is segmented as hospitals, ambulatory surgical centers, homecare and others. The hospitals segment held a market share of around 69% in 2019. The segmental growth is attributed to the factors such as increasing number of hospitals and rising medical emergencies due to COVID-19 pandemic. As the critically ill patients suffering from coronavirus disease require intensive care, the demand for ICU beds and mechanical ventilators will increase in the hospitals across Asia Pacific region. Moreover, medical conditions including lung injury, respiratory distress syndrome, trauma and apnea with respiratory arrest require the mechanical ventilation. Owing to the high prevalence of these medical illnesses, the hospitals segment will witness significant growth over the forecast period.
Asia Pacific Market, By Country
India mechanical ventilators market is anticipated to grow at a CAGR of more than 10% over the analysis timeframe. Growing demand for lifesaving machines to help support COVID-19 affected patients will stimulate the companies across the country to increase their production capacity. For instance, as per the recent news article, in March 2020, Bharat Heavy Electricals Limited (BHEL) announced to manufacture 30,000 ventilators for the treatment of COVID-19. In addition, Union Ministry of Health and Family Welfare has given an order to a Public Sector Undertaking (PSU) to provide 10,000 ventilators to fight against coronavirus disease. Hence, rising production of ventilators across the country will drive the market growth. Furthermore, growing burden of respiratory diseases across the country will propel the growth of mechanical ventilators market in the upcoming years.
Competitive Market Share
Some of the major market players involved in Asia Pacific mechanical ventilators market include Hamilton Medical, Fisher & Paykel, GENERAL ELECTRIC COMPANY, Medtronic, Getinge AB, Air Liquide, Drägerwerk and others. These companies are adopting numerous inorganic strategies such as collaborations, mergers and acquisitions to maintain their market position. For instance, in March 2020, GE Healthcare (GENERAL ELECTRIC COMPANY) partnered with Ford Motor Company to manufacture ventilators for the treatment of coronavirus patients. This strategic move is intended to solve the problem of shortage of ventilators during the COVID-19 pandemic thereby, boosting the revenue growth.
Asia Pacific Mechanical Ventilators Market Background
Mechanical ventilator is a life support machine that lowers the amount of energy a patient uses on breathing. These ventilators deliver high concentrations of oxygen into the lungs of patients suffering from breathing problems. In 1800s, resuscitation techniques including tracheal intubation and bellows ventilation started to originate in the market. In 1832, the first tank respirator was produced that was able to create negative pressure by bellows placed within the airtight box. In 1928, Drinker-Shaw developed the first negative pressure ventilator that was used in clinical practice on a common basis. Over the past few years, numerous technologies modified the ventilator technology and assisted in industry growth. In addition, current coronavirus crisis has stimulated the ventilator manufacturers to increase their production capacity thereby, supporting the industry expansion.