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Smiths Medical ventilator recall to push competitor growth opportunities

Smiths Medical’s recall of more than 2,900 emergency ventilators has reverberated throughout the transport ventilator market. Concerns regarding device reliability and safety have prompted healthcare providers to reassess their options considering the critical need for dependable equipment. This development presents an opportunity for competitors like Philips and GE Healthcare to potentially reshape the landscape of this essential healthcare segment, says GlobalData, a leading data and analytics company.

GlobalData’s report, “Ventilators Pipeline by Development Stages, Segments, Region and Countries, Regulatory Path and Key Companies,” reveals that the transport ventilator market is set to grow at a compound annual growth rate (CAGR) of 3.4% from $326.3 million in 2023 to $455.4 million in 2033.

Aidan Robertson, Medical Analyst at GlobalData, comments: “Due to the vital conditions that this kind of devices are used in, this setback could have a significant effect on Smiths’ sales in the market as healthcare providers will of course be wary of potentially faulty ventilators.”

The Class I recall comes after 177 reports of device issues as well as 8 injuries related to the product. Smiths’ Pneupac Parapac Plus ventilator kits have been reportedly intermittently providing continuous positive gas flow rather than cycling through a human breath pattern which can cause serious injury or death.

Smiths is currently the largest player in the transport ventilator market with over 43% share. However, the recall could provide an opportunity for the competitors such as Philips and GE Healthcare, which make up 7.7% and 8.2% of the market respectively.

The primary driver behind the overall ventilator market growth is the expanding elderly population, leading to a higher incidence of respiratory ailments. Although constituting a smaller segment, transport ventilators are gaining traction due to their more affordable pricing and enhanced technological features. Consequently, sustained growth and heightened demand are anticipated.

Robertson concludes: “Smiths Medical is still the largest player in transport ventilators by a clear margin and that is not expected to change. However, in response to this recall, we may see other competitors expanding their influence in the growing market as some of the healthcare community look to use more reliable emergency ventilators.” GlobalData

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