NEWARK, Del, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The medical ventilators market is expected to register a CAGR of 9.1% during the forecast period. In 2023, the market size is expected to cross US$ 1.7 billion, and by 2033, the market is expected to surge beyond US$ 4 billion.
Rapid urbanisation has resulted in surging construction activities and industrialisation. Owing to this, there has been an increase in the carbon emission rate over the past few years. Consequently, lots of people have started suffering from respiratory diseases, like COPD, asthma, etc. These factors have resulted an increase in the demand for medical ventilators.
The COVID-19 pandemic has surged the market growth. The lungs of patients were getting infected, as a result of which a lot of them had to be kept under ventilators. There have been massive government investments on this front as well. In April 2020, the United States government offered ventilators contract to General Health and Philips worth staggering US$ 1.1 billion. Even Britain secured 300 new ventilators from China in April 2020.
Request Sample@ https://www.futuremarketinsights.com/reports/sample/rep-gb-11287
The market has been witnessing technological advancements of late. The manufacturers have been enhancing the ventilators with sensors. This would ensure almost no interference from human beings. Thus, the human resource can be streamlined and directed to other important areas of the business.
Surging geriatric population across the globe is also expected to surge the sales of medical ventilators. This age group is prone to almost any kind of ailment, especially respiratory issues and cancer cases.
Thus, the FMI analysts believe that, ‘rapid urbanisation, COVID-19 pandemic, technological advancements, and a lot of other factors are expected to propel the medical ventilators market growth during the forecast period.’
Key Takeaways:
- The market is expected to record a growth rate of 9.1%.
- In 2023, the market valuation is expected to be at US$ 1.7 billion.
- By 2033, the market value is expected to surpass US$ 4 billion.
- As per the regional analysis, North America is expected to be the largest market.
- The United States market is expected to grow at 6.8%.
- The United Kingdom market is projected to advance at 5.8%.
- China market is anticipated to surge at 14.7%.
- Japan market is expected to advance at 9.1%.
- South Korea market is anticipated to grow at 8%.
- On the basis of product type, the critical care ventilators are expected to be the leading segment, and may surge at 8.6%.
- On the basis of application, the invasive ventilators are projected to be the dominant segment, and is expected to grow at 7.5%.
- Based on the end user, the hospitals segment is expected to be the leading segment.
View Complete Report@ https://www.futuremarketinsights.com/reports/medical-ventilators-market
Competitive Landscape
The key players operating in the medical ventilators market are focusing on product innovation. On that basis, they are looking to integrate their products with latest microprocessors. There are also huge investments being made on Research and Development, with an aim to create best quality ventilators. The manufacturers are also investing on tactical mergers and acquisitions, with a view to expand their market share. With a view to achieve sustainable goals, the manufacturers are also looking to cut down greenhouse emissions, and make use of eco-friendly facilities. In order to make new strategic moves, the key players are also roping in some of the most astute minds who have been a part of this niche for decades.
Key developments in the medical ventilators market:
- In October 2022, new research conducted by Cardinal Health highlights rheumatologist's increasing confidence on biosimilars.
- In January 2023, Michelle Quinn was named as the acting General Counsel for Becton, Dickinson and Company.
Medical Ventilators Market Segmentation
By Product:
- Critical Care Ventilators
- Transport Ventilators
By Application:
- Invasive Ventilators
- Non-invasive Ventilators
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Long Term Care Centers
- Home Care Settings
By Region:
- North America
- Latin America
- East Asia
- South Asia
- Europe
- Oceania
- The Middle East and Africa
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-11287
Table of Content
1. Executive Summary | Medical Ventilators Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
Buy Complete Report@ https://www.futuremarketinsights.com/checkout/11287
Have a Look at Related Reports of Healthcare domain
Robotic Biopsy Devices Market Size: The global robotic biopsy devices market size reached a valuation of US$ 386.4 Mn in 2021 and is expected to grow at a CAGR of 9.4% over the forecast period (2022-2032).
Thoracic Vascular Stent Grafts Market Share: The global thoracic vascular stent grafts market is predicted to garner a revenue of about US$ 281.7 million by 2032, up from US$ 194.0 million in 2022, moving forward with a CAGR of 3.4% during the forecast period.
Thoracolumbar Stabilization Devices Market Demand: The global thoracolumbar stabilization devices market is projected to be appraised at US$ 2,007.7 million by 2032, up from US$ 1,149.6 million in 2022, advancing at a CAGR of 5.2% from 2022 to 2032.
Topical Wound Agents Market Trends: The global topical wound agents market is projected to amass a revenue of around US$ 3.0 million by 2032, up from US$ 1.5 million in 2022 moving forward with a CAGR of 6.6% during the forecast period.
Toxicology Drug Screening Market Outlook: The global toxicology drug screening market is anticipated to reach US 71,901.8 million by 2032, up from US$ $ 23,888.5 million in 2022 advancing at a rapid CAGR of 10.5% during the forecast period.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com
