Albany NY, United States, May 17, 2022 (GLOBE NEWSWIRE) -- The global mechanical ventilators market is estimated to register growth at a CAGR of 12.8% during the forecast period 2019 to 2027, as per a research report by Transparency Market Research (TMR).
With rising focus of government authorities of many developed and developing nations across the globe, there has been increase in the number of hospital beds in these nations. Moreover, the number of critically ill patients around the world has been increased in the recent years. These factors are generating significant business prospects in the market for mechanical ventilators. This aside, the mechanical ventilators market is estimated to be driven by rising focus of major hospitals on providing excellent level of patient care.
Rise in the spread of COVID-19 globally has resulted into increase in the need for intensive care for the patients dealing with this condition. Hence, government authorities of many nations have increased the demand for mechanical ventilators. This factor, in turn, is bolstering the growth of the global mechanical ventilators market. Thus, the global mechanical ventilators market is prognosticated to be valued at US$ 5.5 Bn by 2027.
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The mechanical ventilators market in North America is estimated to gain sizable growth prospects owing to several factors such as increase in the R&D projects by regional companies and early adoption of advanced medical device technologies in the regional healthcare sector. Moreover, the presence of sturdy healthcare infrastructure is prognosticated to help in the growth of the North America mechanical ventilators market in the years ahead.
Several companies operating in the global mechanical ventilators market are focusing on conducting R&Ds, launching new products, and regulatory approvals. In addition, market players are also utilizing strategies such as collaborations and partnerships in order to stay ahead of the competition. Moreover, many companies operating in the global mechanical ventilators market are concentrating on the development of technologically advanced products. These efforts are estimated to help in the expansion of the global market for mechanical ventilators.
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Mechanical Ventilators Market: Key Findings
- In the recent years, there has been a surge in the prevalence of different chronic respiratory diseases including asthma, chronic obstructive lung disease, such as bronchitis, chronic obstructive pulmonary disease (COPD), emphysema, neoplasms of respiratory and intrathoracic pulmonary heart disease, lung cancer, and diseases pertaining to the pulmonary circulation. Hence, rise in different respiratory disorders is leading into increase the demand opportunities in the global mechanical ventilators market.
- The World Health Organization (WHO) notes that approximately 65 million population deal with COPD and 3 million expire due such health conditions every year. Hence, COPD is considered the third-leading reason for death globally. This factor is driving the demand for mechanical ventilators, notes a TMR study on the global mechanical ventilators market.
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Mechanical Ventilators Market: Growth Boosters
- Increase in the older population and surge in the cases of respiratory diseases globally are boosting the sales growth in the mechanical ventilators market
- Rise in number of patients dealing with COPD and acute respiratory distress syndrome (ARDS) is expected to boost the demand opportunities in the market
Mechanical Ventilators Market: Key Players
Some of the key players profiled in the report are:
- VYAIRE
- Teleflex Incorporated
- GE Healthcare
- Dragerwerk AG & Co. KGaA
- Koninklijke Philips N.V.
- Medtronic plc
- ResMed Inc.
- Smiths Medical
- Getinge AB.
- Bunnell Inc.
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Mechanical Ventilators Market Segmentation
Product
- Critical Care Ventilators
- Neonatal Ventilators
- Transport and Portable Ventilators
Interface
- Invasive
- Non-invasive
End-user
- Home Care
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Non invasive Ventilators Market: Technical advancements in non-invasive ventilators have augmented the accuracy and reliability of these systems for the diagnosis of respiratory diseases. Moreover, their extensive applications in diagnosing others diseases is likely to fuel the non-invasive ventilators market.
Portable Ventilators Market: Rise in hospital admissions owing to increase in incidence of COPD and surge in emphasis on home care are projected to drive the global portable ventilators market. Presently, usage of portable ventilators has increased due to the outbreak of Covid-19 across the world.
Veterinary Ventilators Market: The high prevalence of respiratory disease among veterinary animals, rising veterinary animal disease awareness programs, growing research and development initiatives, growing demand for veterinary ventilators devices as it is easy-to-use and controls to make operations simple makes the devices most important driving factor for veterinary ventilators market.
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Transparency Market Research is a global market research company providing business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
