Published December 4, 2023
The United States Ventilator Market is experiencing robust growth, driven by an escalating number of ICU admissions and the introduction of innovative products by manufacturers. According to a recent study by Report Ocean, this market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of approximately 5% between 2022 and 2028. The surge in demand for ventilators in the U.S., particularly witnessed during the COVID-19 pandemic, has been instrumental in propelling market growth.
The Launch of New Products Fueling Market Expansion:
The heightened demand for ventilators has encouraged manufacturers to introduce novel products to capture a significant market share. Collaborations and partnerships are also being established to bolster product portfolios. Notable instances include Philips’ partnership with the U.S. government to enhance ventilator production at American factories. Moreover, NASA has developed a new high-pressure ventilator designed specifically for treating COVID-19 patients. These advancements are poised to propel growth in the U.S. ventilator market during the forecast period.
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Market Segmentation by End-Users and Modes:
End-users in the U.S. ventilator market include hospitals and clinics, home care, ambulatory care centers, and emergency medical services. The hospital segment dominates the market due to the substantial in-patient treatments and the increasing number of surgical procedures performed in the country. The demand for ventilators surged significantly in hospitals during the peak of COVID-19, aided by their financial capability to acquire heavy medical equipment.
The market is further categorized by modes, encompassing combined-mode ventilation, volume/assist-control mode ventilation, pressure-mode ventilation, and other modes. The volume/assist-control mode ventilation segment holds the largest market share, prominently used in intensive care units for patients requiring respiratory support. This mode addresses the escalating respiratory issues observed in the United States, primarily in intensive care units, ensuring lower work of breathing and enhanced comfort for patients with variable respiratory demands.
Impact of COVID-19 on the Market Dynamics:
The COVID-19 outbreak in the U.S. resulted in a surge in ICU admissions as the virus affected lung functionality, leading to diminished blood oxygen levels. Ventilators became imperative to offer respiratory support to infected patients. The escalated cases prompted the U.S. government to mandate increased ventilator production, effectively preventing shortages and stimulating rapid market growth.
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Key players dominating the U.S. ventilator market include Airon Corporation, Becton Dickinson and Company, Bio-Med Devices, Inc., among others. The market is highly consolidated and competitive, with industry giants investing significantly in research, innovation, and expanding production capacities to cater to post-pandemic demand. Moreover, strategic maneuvers such as partnerships, mergers, and acquisitions are prevalent among players to maintain market supremacy and introduce technologically advanced ventilators to meet evolving medical industry requirements.
Market Size & Forecast by Value, 2018-2028
Market Size and Forecast, By Segment
Intensive Care Ventilators
High-End ICU Ventilators
Mid-End ICU Ventilators
Basic ICU Ventilators
Hospitals and Clinics
Ambulatory Care Centers
Emergency Medical Services
United States Ventilator Market – Competitive Landscape
The leading players in the United States ventilator market are Airon Corporation, Becton Dickinson and Company, Bio-Med Devices, Inc., Bunnell Incorporated, Cardinal Health, GE Healthcare, Hartwell Medical Corp., Hillrom, Oceanic Medical Products, Inc., United Hayek Industries, Inc., and other prominent players.
The market is highly consolidated and competitive due to the presence of industry giants who lead the market in terms of investment and innovations. The prominent market players consistently launch advanced ventilators with advanced technologies to meet the changing needs of the medical industry. They also significantly invest in expanding their production capacity to meet the market demand for ventilators after the COVID-19 pandemic. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.
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Overall, the U.S. Ventilator Market is witnessing substantial growth driven by technological advancements, collaborations, and responses to the heightened medical demands during the COVID-19 pandemic, fostering a competitive landscape with diverse growth opportunities for industry participants.
Table of Contents:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
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