The U.S. mechanical ventilators market size is projected to reach USD 1.65 billion by 2027, according to a new report by Vision Research Reports.
The U.S. mechanical ventilators market is anticipated to expand at a CAGR of 3.1% from forecast period 2022 to 2027. The rising number of hospitalizations due to the coronavirus pandemic and increased need for ventilation among patients in the U.S. are expected to boost the adoption of mechanical ventilators.
One of the key driving factors is the rising prevalence of respiratory diseases, which is expected to have a significant impact on market growth. The adoption of long-term Home Mechanical Ventilation (HMV) in case of chronic respiratory failure due to diseases, such as thoracic disease, Chronic Obstructive Pulmonary Disorder (COPD), and neuromuscular disease, is expected to increase over the forecast period.
An increase in the number of government initiatives aimed at providing safe, affordable, and quality healthcare is driving the adoption of these devices. Manufacturers are increasing their production capacity to meet the rising demand.
By product, critical care ventilators captured the largest share of 40% in 2019 and are expected to maintain their lead throughout the forecast period owing to their increasing adoption in intensive care units due to a surge in the COVID-19 cases
The masks accessories segment is expected to witness lucrative growth in the coming years as these are cost-effective, disposable, and preventive devices and can be manufactured in bulk quantities to fight against the coronavirus outbreak
Competition in the market is high as major players are adopting strategies, such as distribution agreements, collaborations, and acquisitions, to get hold of a major share in the market
Emerging players are involved in the development of cost-effective products to gain a dominant position in the market
Manufacturers are bracing up to multiply the production capacity to meet the rising demand to overcome the COVID-19 outbreak
List of Key Players
Vyaire Medical Inc.
Drägerwerk AG & Co. KGaA
Koninklijke Philips N.V.
Smiths Group plc
Ventec Life Systems
Critical Care Ventilators
Transport & Portable Ventilators
Breathing Circuit Sets
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