A mechanical ventilator is a machine that support patients suffering from chronic respiratory diseases like insufficient breathing problems, acute respiratory distress syndrome (ARDS), etc. Mechanical ventilation is mostly considered when there are clinical signs that the patient cannot maintain adequate oxygenation. It helps the patient to breathe while he’s connected to a mechanical ventilator via an endotracheal tube applied directly to the airway. Mechanical ventilators can also be used to measure the static compliance of irregular functioning of the respiratory system.
Increasing geriatric population and the prevalence of respiratory disorders like insufficient breathing issues, acute respiratory distress syndrome (ARDS), and others across the world are the prime factors estimated to drive the growth of the North America mechanical ventilator market during the forecast years. In addition, rapid technological developments in mechanical ventilators, their portability, and compact designs are anticipated to offer ample growth opportunities for the North America mechanical ventilator market by 2025. Moreover, people’s unhealthy lifestyle and increasing fast food consumption results in lung infection, thus further boosting the market growth during the analysis timeframe. However, high costs of mechanical ventilators is the major factor to hamper the market growth.
The North America mechanical ventilator market is projected to witness prominent growth opportunities by 2025 due to continuous developments in the mechanical ventilation system and rising number of pre-term births. Additionally, the increasing prevalence of chronic respiratory diseases as well as surging govt. expenditures on reimbursement policies are some more factors expected to propel the market growth in the North America region.
According to the report published by Research Dive, the North America mechanical ventilator market is predicted to gather a revenue of $963.4 million by 2025, growing at a CAGR of 6.3% during the analysis timeframe 2019-2025. Some key market players are Mindray Medical International Limited, Getinge USA, Inc., Medtronic plc., Becton, Dickinson and Company, Smiths Group plc, Draeger Medical, ResMed Inc., Hamilton Medical AG, GE Healthcare, Philips Healthcare, among others.
Key Market Developments
The prominent companies operating in the industry are adopting various growth strategies and business tactics like partnerships, collaborations, mergers & acquisitions, and product launches to maintain a robust position in the overall market, thus helping the North America mechanical ventilator market to flourish. For instance:
In August 2021, mechanical ventilator maker Max Ventilator announced its technological collaboration with Amptron Medical, a US-based respiratory technology player. This strategic collaboration was aimed to help the former company to produce mechanical ventilators with international specifications and uplift its footprint in the regulated markets.
In October 2021, Convergence Medical Sciences Inc., a medical startup that specializes in the development of intelligent tools for advanced healthcare facilities, launched its Valence InVent Xtend device which is an adjustable enclosure and ventilator multiplexor. This mechanical ventilator multiplexor provides air for up to four patients and supports real-time modifications.
In April 2020, Philips Healthcare, a world-class healthcare organization, announced its partnership with Flex Ltd., an American Singaporean multinational electronics manufacturer, and Jabil, an American manufacturing services company. This strategic partnership was initiated with an aim to boost the production of hospital mechanical ventilators and treat covid-19 patients.