Surge in number of patients suffering from chronic respiratory diseases drive the growth of the global mechanical ventilators market. North America contributed the highest share in 2019, and will maintain its dominance throughout the forecast period.
According to the report published by Allied Market Research, the global Mechanical ventilator market generated $2.99 billion in 2019, and is estimated to reach $12.54 billion by 2027, registering a CAGR of 16.5% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing population of ageing people and surge in number of patients suffering from chronic respiratory diseases drive the growth of the global mechanical ventilator market. However, high cost associated with mechanical ventilators restrain the market growth. Furthermore, technological advancments and innovative designs are expected to provide new growth opportunities for market players in the near future.
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Covid-19 scenario:
- Mechanical ventilators manufactrurers across the globe have slowed down their production due to disrupted component supply chain amid the lockdown due to Covid-19 pandemic.
- The demand for mechanical ventilators has been surged significantly during the Covid-19 pandemic due to the rise in number of ICU admissions globally. They are required for short-term and long-term respiratory support to treat infected patients.
The report offers a detailed segmentation of the global mechanical ventilator market based on components, product type, mode, age group, end-user, and region.
Based on product type, the intensive care unit/critical care segment contributed to the largest share in 2019, accounting for nearly three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the transport/portable/ambulatory segment is estimated to portray the highest CAGR of 17.5% during the forecast period.
Based on mode, the invasive ventilation segment accounted for the largest share in 2019, holding nearly three-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the non-invasive ventilation is expected to register the highest CAGR of 17.8% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for nearly one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-pacific is expected to grow at the highest CAGR of 17.5% from 2020 to 2027.
Leading market players analyzed in the research include Becton, Dickinson and Company (CareFusion/ Vyaire Medical Inc.), Draegerwerk AG & Co. KGaA, Carl Reiner GmbH, General Electric Company (GE Healthcare), Getinge AB (Maquet Holding B.V. & Co. KG), Koninklijke Philips N.V., Hamilton Medical AG, Mindray Medical International Limited, and Medtronic Plc. (Covidien Ltd.).
Scope of the Report:
| Report Attribute | Details |
| Market size available for years | 2020-2027 |
| Base year considered | 2020 |
| Forecast period | 2019-2027 |
| Forecast units | Value (USD) |
| Segments covered | Product Type, Component, Mode, Age Group, End User, Region |
| Geographies covered | North America, Europe, Asia-Pacific, LAMEA |
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