The U.S. portable ventilator market was valued at $106.20 million in 2019, and is projected to reach $160.98 million by 2027, registering a CAGR of 5.34%.
Portable ventilators are used to provide oxygen to patients while commuting. The factors that drive the market are increasing breathing issues and respiratory problems among the population. Additionally, increasing smoking population is another factor for the growth in demand for portable ventilators. These ventilators are used in hospitals and day care centers for continuous oxygen supply when a COPD patient is unconsciousness or when there is discomfort due to breathing problems. Rise in hospital admissions owing to increase in incidence of COPD and surge in emphasis on home care are projected to drive the U.S. portable ventilators market.
This pandemic has disrupted growth in many economies across various domains. The COVID-19 outbreak is anticipated to impact the growth of the portable ventilator market. A ventilator is one of the primary devices used for COVID-19 treatment. The demand for medical ventilators for COVID-19 has increased exponentially, forcing numerous manufacturers to raise their production by 30% to 50%. Around 77,000 new ventilators were expected to be required to meet global demand in 2019. For instance, several major players namely Getinge AB, GE Healthcare, Hamilton Medical, Philips, Medtronic, and Smiths Group are pushing for the development and distribution of as many ventilators as possible around the globe to increase the production of hospital ventilators to ramp up the battle of COVID-19 pandemic.
Technological advances in microprocessor-controlled ventilation integrated with the complexity of new ventilator modes have provided the multidisciplinary team in healthcare with various opportunities to improve critically ill ventilator patients' care. Advanced ventilators are also primed for any kinds of exigencies and have numerous checks and balances in place. Patient-specific parameters such as air pressure, air volume, flow speed, and general parameters such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control are all equipped with sensors and monitors. Hence, will further boost the portable ventilator market growth.
Growth of the U.S. portable ventilator market is driven by rise in geriatric population who are prone to respiratory disorders, high prevalence of chronic respiratory diseases, and increase in government expenditures on the healthcare industry. However, a number of limitations are associated with portable ventilators, such as high cost of portable ventilators and rise in prevalence of ventilator-associated pneumonia (VAP), which restrain the market growth.
As per the statistics by the National Cancer Institute, around 9.5 million individuals were reported to be suffering from cancer in the U.S. in 2019, and this number is expected to increase to 19 million in 2024. This is expected to increase the need of cancer pain drugs for therapeutic purposes, thus fueling the market growth.
The demand for health facilities providing long-term care for chronic respiratory conditions is projected to be driven by a growing geriatric population base requiring long-term ventilation. The growth in the portable market is expected to increase by the growing need for emergency care for prolonged illnesses and prolonged treatment associated with lung diseases in children as well as adults.
Pressure mode ventilation holds a dominant position in 2019
In addition, older adults are afflicted with multiple diseases and chronic conditions including heart diseases, malignant neoplasms, cerebrovascular diseases, bronchitis, emphysema, Alzheimer’s, pneumonia, influenza, and chronic obstructive pulmonary diseases. Moreover, risk for severe illness from COVID-19 increases with age and geriatric population is at the highest risk. Furthermore, the U.S. government, through Medicare and Medicaid, is the leading third-party payer for healthcare expenditures of older adults. Furthermore, during COVID-19, governments are collaborating with private companies to increase the production of portable ventilators as there is an increasing demand for the same. For instance, the U.S. government collaborated with Koninklijke Philips N.V. to increase the production of hospital ventilators in its manufacturing sites in the U.S. to ramp up the battle of COVID-19 pandemic, which is anticipated to further drive the market growth during the forecast period.
One of the main drivers of the portable ventilator market is rise of the geriatric population vulnerable to respiratory emergencies. In addition, the market growth is further complemented by technological advances in respiratory care equipment, including non-invasive ventilation technology and others.
Invasive Ventilator holds a dominant position in 2019
U.s. Portable Ventilator Market Segmentation
The U.S. portable ventilators market is segmented on the basis of mode, interface, age group, and end user. On the basis of mode, it is classified into pressure-mode ventilation, volume-mode ventilation, and others. On the basis of interface, the market is divided into invasive ventilator and non-invasive ventilator. On the basis of age group, the market is categorized into pediatric & neonatal, adult and geriatric. By end user, it is segmented into hospital and clinic, home care, and ambulatory care centers.
On the basis of interface, the Invasive segment dominated the portable ventilator market in 2019, which is attributed to increase in number of patients suffering from chronic diseases. The invasive ventilator segment is projected to grow with the highest CAGR of 5.63% from 2020 to 2027. This is attributed to rise in demand for portable ventilators during emergencies and growth in adoption of easy-to-use portable ventilators for ease of geriatric patient population.
By Age Group
Adult age group holds a dominant position in 2019
In 2019, the adult segment was the highest revenue generating segment in the market, owing to the rise in adult population who are prone to chronic respiratory diseases. However, the pediatric & neonatal segment is estimated to register CAGR of 5.06% during the forecast period, owing to rise in prevalence of neonatal mortality and need for convenient ventilation facilities for newborn and premature babies.
The key players operating in the U.S. portable ventilator market include Koninklijke Philips N.V., Drgerwerk AG and CO., Becton, Dickinson and Company, Getinge AB, Resmed Inc., Percussionaire Corp., Smiths Group Plc., Hamilton Medical, Medtronic Plc. and Zoll Corporation.
By End User
Hospitals and Clinics segment holds a dominant position in 2019
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the U.S. portable ventilator market, with current trends and future estimations to elucidate the imminent investment pockets.
- Quantitative analysis from 2019 to 2027 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- The portable ventilator market size and estimations are based on a comprehensive analysis of key developments in the industry.
- Extensive analysis is conducted by closely following key product positioning and monitoring the top contenders within the market framework.
U.S. Portable Ventilator Market Report Highlights
By Age Group
By End User
Key Market Players
HAMILTON MEDICAL AG, DRAEGERWERK AG & CO. KGAA, PERCUSSIONAIRE CORP., RESMED INC., SMITHS GROUP PLC., BECTON, DICKINSON AND COMPANY (CAREFUSION/ VYAIRE MEDICAL INC.), MEDTRONIC PLC. (COVIDIEN LTD.), GETINGE AB, KONINKLIJKE PHILIPS N.V., ZOLL MEDICAL CORPORATION
According to analyst perspective, the U.S. portable ventilator market is driven by factors such as increase utilization of intensive care unit ventilators is expected to witness a significant rise with increase in ICU admission. The portable ventilator market has piqued the interest of healthcare industry, owing to its high use for various conditions such as asthmatic attacks, severe accidents, and ICU admissions.
Further, rise in demand for home care ventilators, increase in geriatric population, and technological advancements are some major factors that drive the U.S. portable ventilator market. However, high cost of portable ventilators and rise in incidences of ventilator-associated pneumonia (VAP) hamper the market growth. Presently, Invasive portable ventilators are the most preferred options by patients in critical conditions. Increase in chronic respiratory diseases also boost the demand for portable ventilator market. In addition, owing to high ICU bed admissions and increase in government expenditure on healthcare, drive the market growth.