|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The high-flow ventilators market is anticipated to witness a CAGR of nearly 6.2% during the forecast period, growing from USD 1,707.3 million in 2021 to USD 2,398.3 million in 2027.
The emergence of the COVID-19 pandemic had an adverse effect on the world economy and the healthcare system. The lockdown all over the globe has affected the supply chain of pharmaceuticals, medical devices, and biotechnological products. The severe impact of the SARS-CoV-2 virus on people with existing respiratory diseases/disorders further increased the risk for the target population. For instance, as per the research study “Association between pre-existing respiratory disease and its treatment, and severe COVID-19: a population cohort study” published in April 2021, the risk of severe COVID-19 in people with asthma is relatively small but people with Chronic obstructive pulmonary disease (COPD) and interstitial lung disease appear to have a modestly increased risk of severe disease due to COVID-19. Moreover, with the cases of COVID-19 around the world still high, the demand for critical hospital equipment increased drastically including ventilators. The ventilator manufacturers around the world tried to fill in the gap created by the high variation in the demand and supply of the ventilators by manufacturing ventilators in huge numbers which led to a significant jump in the mechanical ventilators market around the world. For instance, as per the April 2020 report, global medical device manufacturer, Medtronic collaborated with technology partners and governments to increase the production of new ventilators to support COVID-19 patients around the world, and the company was expected to manufacture more than 400 ventilators a week and over 700 by the end of May, along with company’s target of 1,000 ventilators a week by the end of June 2020. This is expected to increase the market growth for high-flow ventilators. Therefore, the above-mentioned states that the high flow ventilators market grew significantly around the world with the emergence of the COVID-19 pandemic, but it will see a downward growth with the decreasing cases of COVID-19 globally, and slowly the market will show steady growth in certain geographies even after the reduction in the impact of the COVID-19 due to other respiratory diseases.
The prevalence and incidence of respiratory illness in rising currently and the global prevalence of the diseases is expected to grow in the future. People who work in drug manufacturing, and antibiotics manufacturing factories complain about breathing issues and work-related asthma is more prevalent among this target population. For instance, in 2019, an estimated 174 new cases of occupational asthma were reported by doctors who participated in the Surveillance of Work-Related & Occupational Respiratory Diseases (SWORD ) scheme within the Health and Occupation Reporting (THOR) network, United Kingdom. Moreover, the article “Association of Chronic Lower Respiratory Disease With County Health Disparities in New York State” published in November 2021 stated that chronic lower respiratory disease (CLRD) is the fourth leading cause of death in the United States, and approximately 14.8 million people have been diagnosed with COPD and more than 25 million people have asthma recently. Therefore, the growing prevalence of respiratory diseases is driving the demand for high-flow ventilators used for providing oxygen therapy to patients and overcoming breathing issues. Thereby, driving the growth of the studied market.
However, respiratory diseases have a high impact on the economy, and this may hamper the global demand for high-flow ventilators in the studied period.
Scope of the Report
As per the scope of the report, a high-flow ventilator is a respiratory support system that is generally used in hospitals, ambulatory surgical centers, and other facilities, for patients suffering from acute and chronic respiratory failure. Oxygen therapy is used using high-flow ventilators at up to 60L/min. This reduces the need for noninvasive ventilation and intubation in the target population. High flow ventilators usually deliver oxygen therapy using a blender connected to a wall outlet, heated tubing, a humidifier, and a nasal cannula. The High Flow Ventilators Market is segmented by Modality (Portable High Flow Ventilators and Trolley Mounted High Flow Ventilators), End User (Hospitals, Ambulatory Surgical Centers, and Other End-Users), Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
|Portable High Flow Ventilators|
|Trolley Mounted High Flow Ventilators|
|By End User|
|Ambulatory Surgical Centers|
|Other End Users|
Key Market Trends
The Portable High Flow Ventilators Segment Dominates the Market
The portable high flow ventilators segment is expected to dominate the global high flow ventilators market through the forecast period. This can be attributed to the rising adoption of these ventilators, due to integrated gaussmeter, superior monitoring capabilities, and advanced modes. The transport of patients within a hospital setting is a common event that exposes patients to risks normally not encountered in the stationary environment. Moreover, portable high-flow ventilators transform ventilatory care through their small size, portability, ease of use, versatility, and extended battery life. By costing as little as a third of other ICU ventilators and offering both invasive and noninvasive capabilities, they are ideally suited, no matter what their location or severity. These factors are expected to impel the segment's development in the forecasted period.
The studies demonstrating the benefits of the usage of portable high-flow ventilators in different disease conditions are also boosting the growth of the market. For instance, a Karger Journal article titled ‘Portable High-Flow Nasal Oxygen during Walking in Patients with Severe Chronic Obstructive Pulmonary Disease: A Randomized Controlled Trial’ published in December 2021 reported that High-flow Nasal Oxygen (HFNO) improves exercise capacity, oxygen saturation, and symptoms in patients with chronic obstructive pulmonary disease (COPD). It also concluded that in patients with Chronic obstructive pulmonary disease, there is severe exercise limitation, and HFNO delivered by a battery-supplied portable device was more effective in improving walking distance than usual oxygen supplementation. Such studies suggest the usage of portable high-flow ventilators is beneficial in reducing symptoms and daily activities and thus expected to drive the segment's growth in the given timeframe.
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North America is Expected to Have the Significant Market Share
North America accounted for the largest market share in 2021, and it is estimated to maintain its dominance over the forecast period. The United States is a hub for technological advancements and has a well-established healthcare infrastructure. The key factors driving the market are the increasing geriatric population and the growing number of respiratory diseases in the country. For instance, according to the Asthma and Allergy Foundation of America (AAFA), in April 2022, roughly 1 in 13 Americans had asthma, which is about 25 million people. As per the same source, about 5.1 million American children have asthma under the age of 18. The Asthma and Allergy Foundation of America (AAFA) stated that asthma is more common in female adults than in male adults. Around 9.8% of female adults have asthma, compared to 6.1% of male adults. Thus, patients with respiratory illness often require high-flow ventilators for treatment purposes, creating opportunities for the ventilators, thereby boosting the market growth.
Furthermore, the increasing adoption of various business strategies by the market players such as collaborations, partnerships, and product launches in the region is also contributing to the market expansion. For instance, in August 2021, Max Ventilator reported the launch of the High Flow oxygen Therapy (HFOT) device and WeanX in its new ventilator range category. The HFOT device gives nearly 100 percent chances of survival with less operating costs than a traditional ventilator, adding force and strength to the ongoing battle against a resurgent Covid-19 virus.
Thus, the aforementioned factors are expected to drive market growth in the region during the forecast period.
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The studied market is fragmented and moderately competitive. The major players include companies, such as Getinge AB, Hamilton Medical, HERSILL, Koninklijke Philips NV, Medtronic, ResMed, VYAIRE, and Asahi Kasei (ZOLL Medical Corporation). These companies are actively involved in product innovations and technological advancements to sustain their positions in the market.
- In May 2022, Max Ventilator launched multifunctional non-invasive (NIV) ventilators which come with inbuilt oxygen therapy and humidifier. It can be used for neonatal care as well as adult care, which makes it versatile. Also, it can keep record of monitored parameters and operating conditions for 72 hours. Additionally, this new ventilator is just 5 kgs and comes with a trolley.
- UK-based manufacturer of anaesthesia equipment OES Medical joined the ABHI UK Pavilion at Arab Health 2022 (24 – 27 January 2022) to launch a pioneering new mains-powered ICU ventilator to support hospitals manage oxygen demand.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Respiratory Diseases
4.2.2 Increasing Adoption of High-end Technologies in Critical Care
4.2.3 Increasing Geriatric Population
4.3 Market Restraints
4.3.1 Economic Impact of Respiratory Disorders
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Modality
5.1.1 Portable High Flow Ventilators
5.1.2 Trolley Mounted High Flow Ventilators
5.2 By End User
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Getinge AB
6.1.2 Hamilton Medical
6.1.4 Koninklijke Philips NV
6.1.5 Medtronic PLC
6.1.8 Asahi Kasei (ZOLL Medical Corporation)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global High Flow Ventilators Market market is studied from 2022 - 2027.
What is the growth rate of Global High Flow Ventilators Market?
The Global High Flow Ventilators Market is growing at a CAGR of 6.2% over the next 5 years.
What is Global High Flow Ventilators Market size in 2022?
The Global High Flow Ventilators Market is valued at 1707 Million USD in 2022.
What is Global High Flow Ventilators Market size in 2027?
The Global High Flow Ventilators Market is valued at 2398 Million USD in 2027.
Which region has highest growth rate in Global High Flow Ventilators Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global High Flow Ventilators Market?
North America holds highest share in 2021.
Who are the key players in Global High Flow Ventilators Market?
Getinge AB , Hamilton Medical , HERSILL, Koninklijke Philips N.V., Medtronic Plc are the major companies operating in Global High Flow Ventilators Market.