Market Overview
A medical ventilator is a medical device that helps critically ill individuals who are unable to breathe. To attach the patient to the ventilator, a hollow tube that serves as an artificial airway is put into their mouth, then down into their trachea. Additionally, mechanical ventilators are utilized as a diagnostic tool to evaluate static compliance of airway resistance and respiratory system disorders. A mechanical ventilator can save a patient’s life during medical emergencies and operations.
By 2030, the medical ventilator market is projected to grow at a CAGR of 4.51% and reach USD 3,605.82 Million.
The rise in the prevalence of chronic respiratory diseases like lung cancer, chronic obstructive pulmonary disease (COPD), asthma, bronchitis, and other lung disorders, as well as the rise in the number of hospitals and diagnostic facilities, are the primary factors driving the growth of the global medical ventilator market.
Around the world, the COVID-19 pandemic has put a strain on healthcare systems. Numerous industries have been forced to shut down due to the COVID virus, and numerous healthcare subdomains have temporarily ceased operations. The epidemic has also boosted demand for a variety of medical products, including personal safety gear for healthcare workers and equipment for intensive care units. Because they are in short supply, medical ventilators, a crucial instrument for the treatment of COVID-19, are in higher demand. Medical ventilator demand has significantly increased, forcing manufacturers to increase production capacity by 30-50%. This is at the request of several international government agencies who are struggling to effectively combat the pandemic.
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Market Segmentation
Portable ventilators will steadily gain market share and eventually rule the global market for medical ventilators.
The medical ventilator industry is anticipated to be dominated by invasive ventilators throughout the upcoming years.
Technology is a factor in Automated Ventilators’ selection in this crisis, which will promote their status as a market leader.
The demand for critical care ventilators is on the rise due to COVID-19’s leadership of the dominant market share in the medical ventilator market forecast period.
Due to the current worldwide crisis, hospitals and clinics are anticipated to emerge as likely end consumers during the projection period.
Regional Classification
During the anticipated period, North America dominated the Ventilators market. The primary factors influencing the ventilators market in North America are the rising elderly population, rising smoking rate, high prevalence of respiratory disorders, rising COVID-19 patient numbers, highly developed healthcare system, high healthcare expenditure, and prominent market participants in the US.
The distinguished players in the Medical Ventilator Market are:
Getinge AB (Sweden),E. Healthcare (U.S.),Vyaire Medical, Inc. (U.S.),Medtronic (Ireland),Drägerwerk AG & Co. KGaA (Germany),Hamilton Medical (Switzerland),Resmed (U.S.),Koninklijke Philips NV (Netherlands),Smiths Medical (U.S.),Allied Healthcare Products Inc. (U.S.)
Industry News
Jan 2021 Recent research has identified a chemical produced by immune cells during mechanical breathing that can lessen inflammation but cannot completely halt lung damage brought on by ventilators. The team is working to use that organic process to test a therapy that might lower the likelihood of lung injury in patients using ventilators. In mice receiving mechanical aeration, delivering high concentrations of the beneficial chemical with a nanoparticle effectively resisted ventilator-related lung damage.
Jan 2021 Global Medical Supply will get 1,500 advanced portable ventilators from Inovytec, a pioneer in multi-functional and manageable emergency medical equipment. A supply agreement has been granted to the California-based distributor in the state of California.
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