U.S. Mechanical Ventilators Market is Anticipated to Register a CAGR of 40.0% till 2027

Unusually high incidence of Covid-19 has led to large gap between demand and supply of mechanical ventilators, to an extent wherein, automotive and other industrial equipment manufacturers have to step in to increase the supply of this life saving device. The U.S. mechanical ventilators market was valued at 1.43 billion in 2019 and anticipated to register a CAGR of 40.0% over the forecast period. As per the Society of Critical Care Medicine, the current stock of hospital ventilators in the U.S. is around 160,000 units in the 2020 Q1. An additional stockpile of 12,700 with SNS (Strategic National Stockpile) would be made available in the grim situations. At the time of writing this article there are nearly 110,000 confirmed COVID-19 cases. Furthermore, as per American Hospital Association, during this pandemic, nearly 960,000 Americans could need artificial ventilation using Mechanical Ventilators. Owing to the aforementioned factors, the mechanical ventilators are experiencing and will experience sudden spike in the demand in coming few months.

The market is evaluated on the basis of product such as critical care, neonatal, transport and portable and others. Critical care and portable ventilators are expected to experience significant demand surge in the coming financial quarters. Manufacturers are bracing up to multiply the production capacity to meet the global rising demand. The key players operating in this space includes Medtronic, Allied Healthcare, GE Healthcare, Ventec Life Systems, Smiths Medical. Medtronic already increased their production by 40% since January 2020. Moreover, automobile manufacturers are offering their assembly lines to aid the ventilators production. For example, Tesla and Medtronic, General Motors and Ventec Life Systems teaming up for the ventilator production.

In a welcome move by the U.S. FDA, which temporarily waived off its enforcement and inspection requirements that would be helpful for cross industry manufactures to fabricate much needed components for ventilators and other critical care equipment. Supportive and timely regulatory policies by the government is anticipated to provide lucrative growth platform for this market in the coming financial year and thereby affecting the growth rate over the forecast year.

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As per our analysis, with the combined manufacturing capacity of all the leading players the market could witness an additional influx of around 65,000 units in the next financial quarter. In addition, government organizations are evaluating the possibility of using the veterinary ventilators for human use. In the UK, Animal Health Trust were in talks with the Royal college of Emergency Medicine and NHS (National Health Service) about the possibility of sharing veterinary ventilators to help.

It’s difficult to predict the exact shape of Coronavirus pandemic curve in the U.S. However, looking at the grim situations in the European nations especially Italy, the peak demand for critical care equipment along with the mechanical ventilators and makeshift ventilators is anticipated to soar at exponential rate over the next few months.

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