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.

New York, July 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "High Flow Ventilators Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06290955/?utm_source=GNW
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.

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.

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.

Competitive Landscape

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.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06290955/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001