Ventilator Breathing Circuit Market , by Product Type (Open type, Semi-open type, Semi-closed type, Closed type), by Application (Anesthesia, Respiratory dysfunction), by Patient Type (Adult, Pediatric) , by Distribution Channel (Hospitals, Ambulatory Surgical Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa) Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Nov 2022

Code : CMI5360

Pages :165

Formats :

Excel and PDF

Industry : Medical Devices

Ventilator Breathing Circuit MarketSize and Trends

Global ventilator breathing circuit market is estimated to be valued at US$ 1,207.0 million in 2022, and is expected to exhibit a CAGR 4.1% over the forecast period (2022-2030).

Global Ventilator Breathing Circuit Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 619 million cases and 6.53 million deaths due to coronavirus (COVID-19) were reported till October 3, 2022, across the globe.

Impact of COVID-19 on Demand and Supply of Ventilator Breathing Circuit

The COVID-19 pandemic and lockdown in various countries across the globe has impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Several countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

During COVID-19 pandemic, there was increase in demand of ventilators, owing to its use in COVID-19 treatment but, there was a shortage in the supply of ventilators. For instance, on August 26, 2022, the U.S. Food and Drug Administration (FDA) released an update about medical device shortage due to COVID-19 pandemic. Categories of devices in the device shortage list were dialysis-related products, personal protective equipment, testing supplies and equipment, and ventilation-related products.

Global Ventilator Breathing Circuit Market – Key Drivers

Increasing number of product launches by market players are expected to fuel growth of the global ventilator breathing circuit market over the forecast period. For instance, in January 2020, Nihon Kohden, a manufacturer, developer and distributor of medical electronic equipment, launched NKV-550 Series ventilator system designed to support patients of all ages. NKV‐550 ventilator series is designed to provide all the essential capabilities required by clinicians for ventilating adult, pediatric, and neonatal patients.

Market players are engaged in partnerships for distribution of ventilators, which is expected to boost the global ventilator breathing circuit market growth over the forecast period. For instance, in December 2020, CorVent Medical, a company focused on developing smart, reusable, lifesaving ventilators for critical care, announced an agreement with Siemens Healthineers, a Germany-based medical device company for the U.S. distribution of the Respond-19. Respond-19 is intended for quick expansion of critical care ventilation capacity to enable hospitals to treat more patients with ARDS (Acute Respiratory Distress Syndrome) at times of emergency.