Global trends that you see in the Ventilator market
Ventilators today have become a household conversation and its importance in saving lives is now known more than ever. The pandemic brought to the forefront the need of technology intervention to support healthcare professionals for critical care and desired patient outcomes. As the entire healthcare infrastructure in the country and world dealt with the overwhelming pressure of the pandemic with limited resources and manpower, technology provided the best last mile patient delivery especially in ICU settings.
The global ventilator market is expected to reach USD 1466.3 Million by 2026. It is expected to grow at a compound annual growth rate (CAGR) of 15.38% from 2020 to 2026. The market dynamics has dramatically changed post the Covid 19 situation. Therefore, a rapid rise in the demand for ventilators is currently being witnessed, owing to the severe respiratory illness being caused by the virus infections.
Another key trend that has been witnessed is the use of intelligent technology through advanced modes of ventilation in ICU settings. These settings have been significantly assisted healthcare professionals in patient management. It helped them take faster decision and make accurate diagnosis. Technology has helped to improve critically ill ventilator patients’ care. Advanced ventilators have the benefit of catering to exigencies and have numerous checks and balances in place. Patient-specific parameters such as air pressure, air volume, flow speed, and general parameters such as air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control are all equipped with sensors and monitors for close automated monitoring that drastically reduces the task of caregivers so that they can pay attention to more patients.
How is the Ventilator business impacted by Covid-19
As per a recent study amongst several done by WHO on the side-lines of the occurrence of the pandemic, it has been revealed that 5-10% of patients that are critically infected with the virus are likely to require the use of a ventilator or depend on a ventilator for survival during critical care and disease management protocols. With the increasing possibility of successive waves of the outbreak, the pandemic gave momentum to the ventilator market. It’s prevalence in treating patients with Acute Respiratory Disorders has now been established more than ever. The rising cases of respiratory disorders goes to show how ventilators will continue to be in prominence as a critical care tool even in the future. The demand increase is also being driven by ramping of critical care infrastructure by government, public and private stakeholders of healthcare. Tell us more about Hamilton products. What sets it apart from others.
Since 1983, Hamilton Medical has been developing intelligent ventilation solutions that improve the safety of treating critically ill patients and help them recover faster.Today, Hamilton Medical is a leading provider of ventilation solutions for critical care, suitable for a wide variety of patient populations, modes, and conditions of use. As a result of research and development of the concept of an automatic ventilation control system, Adaptive Supportive Ventilation (ASV®) was created in 1997 – the new standard for all Hamilton Medical ventilators.
In 2010, on its basis, a unique new generation system was created – INTELLiVENT®-ASV . These two unique ventilation modes automatically apply lung protection strategies to minimize complications and encourage spontaneous breathing in patients. This makes it possible to improve patient safety and comfort, as well as shorten ventilation times. In addition, these modes help reduce the physician workload. These technology advancements and applications reduce the length of stay at the hospital which is good for the patient both from a health perspective and economically. Simply put Hamilton ventilators are bedside assistants that help doctors and caregivers better monitor patients through automation that drive better patient outcomes.
One of the distinguishing features of Hamilton ventilators is its signature ventilation cockpit that is available across the entire range of Hamilton ventilators. It is a critical tool that assists doctors and caregivers in better decision-making and faster diagnosis. It guides a doctor on the lung compliance frequently through its user-friendly interface that has a real-time lung visualization. This type of smart assistance goes a long way in reducing ventilation stay of patient and faster weaning.
Our ventilation solutions cater to a wide range of applications like adult and pediatric intensive care, neonatal intensive care, critical care support, intelligent ventilation from ICU to MRI, long-term acute care, and others. These applications are catered by over 10 different types of ventilation solutions that use advanced technology.
Brand future plans. Any plans for Indian manufacturing unit
Hamilton is committed to expanding its footprint in India through skill development and awareness. We already have made a significant movement with the delivery of over 2000 ventilators to the Government of India in 2020 and are continually collaborating to partner towards addressing the need of the Indian market. We have been in the country earlier through a distributor led model, however Hamilton Medical now has a wholly owned subsidiary in India being led by experienced professionals in the field of ventilation solutions. We are expanding our footprint in India with a larger team of senior professionals across different functions and geographies, which is supported with a strong network of distributor partners.
Where does India fit into the global strategy of Hamilton
India is of strategic importance in our global business scheme. The country is fast emerging as a nation of opportunities for the growth of critical care infrastructure. During the pandemic we were able to able to deliver on our promise of delivering 2000 installations despite mobility and operation restrictions. We plan to continue to address the critical care health demands in the country with our advanced mechanical ventilation. To realize this vision, Hamilton Medical’s has invested in a long-term strategy aimed at patients and doctors.
Our commitments in India are not just restricted to ventilators alone. We are closely collaborating with stakeholders to bridge the skilling gap and ensure that ventilators are utilized optimally. The global Hamilton Medical College offers educational materials, training seminars and training on mechanical ventilation and ventilator use. We also frequently host clinical expert workshops that provide in-depth training for ventilators from around the world. We plan on doing the same with HCP’s in India.
India has a large ventilation and critical care. Your views on infrastructure gap.
The pandemic saw global health infrastructure become stretched beyond its capacity with an overwhelming number of cases and it was no different for India. However, Indian government and the entire fraternity of HCPs put up a collective front and did a commendable job to ensure that the overwhelming number of patients can be treated despite a grossly inadequate health infrastructure.
Now as we look forward to bridge that gap, it needs to be collaborative effort between governments and critical care infrastructure providers. There must be a joint effort by all companies to overcome the blind spots through adequate education and training.