The increase in respiratory disorders due to the growing pollution, coupled with technological advancements are driving the market.
Market Size – USD 4.61 Billion in 2019, Market Growth – CAGR of 24.7%, Market Trends – Growth in the Covid-19 infected case.
The global Ventilator market is forecast to reach USD 26.66 Billion by 2027, according to a new report by Reports and Data. The ventilator market is witnessing a drastic increase in demand owing to the growing incidence of patients suffering from COVID-19. The number of cases are growing rapidly and the hospitals currently does not have enough for the patients that need them. Increase in the number of ICU beds and rise in geriatric population are propelling the demand of the market. The elderly and the ones with respiratory diseases are highly susceptible to the virus.
The global manufacturers are under lot of strain to manufacture large number of medical ventilators, they are sophisticated devices used by the critically ill. The factors driving the market are high incidence of chronic disease among children, and prevalence of heart diseases and respiratory problems. The worsening of pollution internationally is also impacting the market. Advancement in technology and advent of cost-effective, patient-friendly, and portable devices are further encouraging their usage. Moreover, supportive government policies in developing nations like India, and China are focusing on cost-efficient solutions to provide flexibility in patient care.
Key participants include Becton, Dickinson and Company, Koninklijke Philips N.V., Hamilton Medical AG, Fisher & Paykel Healthcare, Limited, Draegerwerk AG CO. KGaA, Medtronic PLC, GE Healthcare, Smiths Group PLC, ResMed Inc., and Maquet Holding B.V. & Co. KG, among others.
The COVID-19 Impact:
The demand for the ventilator will grow tremendously during the pandemic. New equipment will enhance and expand performance capabilities, which will build sales in hospitals, outpatient facilities. Overall, the pandemic crisis will lead to multiple changes, which will result in companies adopting different strategies to meet increasing demand. There will also be a substantial change in the product pipeline, and the overall supply chain as macroeconomic shifts take place. The use of AI and other technologies is another trend which is highlighted. Gains will be driven by expanded market products that help hospitals and large outpatient facilities improve the accuracy, quality, and efficiency of treatment. There is still a huge discrepancy between available ventilators and the need. Get a Free Sample now@ https://www.reportsanddata.com/sample-enquiry-form/2922
For the purpose of this report, Reports and Data have segmented into the global Ventilator market on the basis of type, target population, end user, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Target Population Outlook (Revenue, USD Billion; 2017-2027)
End User Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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Further key findings from the report suggest:
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2027
Chapter 3. Indicative Metrics
Chapter 4. Global Ventilator Market Segmentation & Impact Analysis
4.1. Global Ventilator Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market driver’s analysis
4.2.2.1. High usage in Covid-19 virus
4.2.2.2. Increased adoption in medical sector
4.2.2.3. Advancement in technology
Continued…
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