The needs of the emerging markets are different from that of developed different strategies and system engineering paradigms need to be applied.
Ventilators like many other medical devices have undergone enormous changes, thanks to the technological developments. The changing technology, market dynamics, and disease patterns have all contributed to the metamorphosis of ventilators. The stringent regulatory and statutory compliance requirements have also catalyzed the innovation trend of ventilators. Medical devices market drivers such as deep miniaturization, enhanced portability, low power requirements, and enhanced clinical workflow have made significant advancements in modern ventilator designs. Since the needs of the emerging markets are different from those of the developed markets, different strategies and system engineering paradigms need to be applied.
Indian Market Dynamics
In 2014, the Indian ventilators market was estimated at 6500 units in terms of volume and Rs. 266.75 crore in terms of value.
The market for imported equipment was estimated at Rs. 217 crore, with 3950 units of sales. GE, Draeger Medical, Maquet Medical, Philips, and Schiller dominate this segment. Other aggressive players include Philips, Mindray, Skanray, Air Liquide, Carefusion, and Hamilton.
In 2014, the refurbished ventilators market generated sales of 750 units, amounting to Rs.18.75 crore. These ventilators are preferred by small hospitals and nursing homes in tier-II and tier-III cities, and semi-urban and rural areas. Major players in this segment include Zigma, SOMA, Max Meditech, Fabian HFO (Acutronic Medical Systems), Technomed, and Unitech. This segment is also catered to by resellers/importers who import the products from the United States, the United Kingdom, Germany, and Australia.
Transport, ambulatory, and Chinese ventilators constitute 7.7 percent of this market, estimated at Rs.5 crore.
The indigenous market, estimated at 1300 units, accounting for Rs.26 crore, is dominated by Max Meditech and Medisys. Air Liquide and Schiller also have some presence in this segment.
The global ventilator market is projected to reach USD 4.2 billion by 2020, driven by aging population, increasing prevalence of respiratory disorders, rising popularity of portable and noninvasive ventilators (NIVs), and technological advancements.
Technological advancements over the years have resulted in significant innovations at the product front. Advances in product technologies are realizing the opportunity of providing ventilation, not only in critical care settings, but also in sub-acute care and homecare settings. Traditional invasive products are making way for more portable ventilators and non-invasive products, a trend that is exhibiting tremendous growth prospects supported by improving convenience to patients and reduced healthcare costs.
Non-invasive ventilators are increasingly becoming a standard of care in several healthcare institutions worldwide. Major factors driving adoption of non-invasive ventilators include inherent benefits such as reduced infection risk, patient's ability to swallow and speak, and minimized need for sedation.
Combination ventilators, with both invasive and non-invasive options, provide the benefits of the two technologies in one product. While these products are well embraced by the developed markets, their adoption remains significantly lower in emerging markets, such as Asia-Pacific. With the objective of providing only basic care, healthcare systems in most parts of Asia-Pacific remain underdeveloped, and hence the lower adoption of combination ventilators.
The United States represents the single largest market worldwide. North America and Western Europe represent relatively mature markets, while Asia-Pacific, East Europe, and Latin American regions show potential for growth. Asia-Pacific represents the fastest-growing regional market for mechanical ventilators, with sales projected to grow at a compounded annual rate of 8.3 percent over the analysis period.
In recent time, increasing numbers of geriatric population is a key driver for the global mechanical ventilators market. Geriatric patients require long-term ventilation for treatment of chronic respiratory diseases, which increases the demand for mechanical ventilators. Increasing prevalence of COPD and technological innovations in the field of positive pressure airway devices are also contributing to the growth of global mechanical ventilators market.
However, high capital requirement is a key restraint for the global ventilators market. In addition, risks associated with mechanical ventilation procedures also hamper growth of the market. For instance, the endotracheal tube in the windpipe makes it easier for bacteria to get into the lungs which develop infection, known as pneumonia. Moreover, mechanical ventilators push air into the lungs. It may expand the lung and injure it.
The challenge for future research in the area of ventilator technology is to generate controlled clinical studies to support its application. With the impact of financial constraints on healthcare, research will also need to examine the economic issues related to the application of newer modes of mechanical ventilation. Integrating the vital signs monitoring with ventilation in conjunction with other assessment parameters may prove to be useful tools to measure the impact of interventions such as suctioning, positioning, muscle reconditioning, weaning techniques, and comfort measures on mechanically ventilated patients.
Challenges and Opportunities
The market drivers for medical devices may be applied to ventilators too. Emergence of new-generation sensors, single-chip solutions, and new-generation pneumatic components has impacted the design architectures of ventilators.
Ventilating infants and newborn babies make special demands on ventilation technology, which cannot be met partially by equipment designed for adults. The specific challenges of neonatal ventilation are smaller inspiratory volumes, faster changes in gas flow and more particularly protection against too high airway pressures and too large mandatory breath volumes.
Patient and operator safety of prime importance has been regulated by the certifying authorities. This has posed huge challenges for the medical devices manufacturers. Better understanding of physiology, anatomy and disease patterns is also triggering a new wave of innovation in mechanical ventilation.
Indian Market Dynamics is based on market research conducted by Medical Buyer in July 2015.