The global mechanical ventilator market is projected to reach USD 9.99 billion by 2028, growing at a CAGR of 5.6%. Mechanical ventilators are devices that help treat patients’ respiratory issues by supplying high doses of oxygen to the lungs. Mechanical ventilators play a crucial role in minimizing the amount of energy the patient requires to breathe. The patient’s body will then focus on battling or healing pathogens. Breathing issues can occur due to a variety of causes, including trauma to the nervous system, unconsciousness due to serious infections, an overdose of medications, and toxin build-up. Mechanical ventilators aid patients when such conditions hinder natural breathing.
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Leading players of the global mechanical ventilator market include Getinge AB, Medtronic, Vyaire Medical Inc., Drägerwerk AG & Co. KGaA, Koninklijke Philips N.V., GE Healthcare, Smiths Group plc, ACOMA Medical Industry Co., Ltd., Hamilton Medical among others.
Increased incidences of chronic respiratory conditions, such as asthma, COPD (Chronic Obstructive Pulmonary Disease), bronchitis, and other lung problems, and an increase in the accidental emergencies led to a major need for mechanical ventilators. In addition, development in the geriatric population that is vulnerable to respiratory emergencies is one of the main drivers of the industry. In addition, technical advances in respiratory care appliances, such as non-invasive ventilation technology and portable mechanical ventilators, further complement the growth of the industry.
The intuitive steps were taken by the government and the manufacturers to curb the initial pandemic unpreparedness culminated in an increased inflow of mechanical ventilators. However, mechanical corona virus ventilator waves are expected to crest by mid-2021 or 2022 due to the production of the Covid-19 vaccine coupled with successful therapeutic options for the treatment of mild to moderate symptoms of infection. In addition, the incidence of corona virus infection is projected to decrease due to a high community understanding and commitment to physical distance steps.
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To minimize the spread of this pandemic, policymakers in different countries have taken stringent steps, including social distancing. The United States FDA temporarily waived its compliance and testing standards, which would help cross-industry suppliers to produce much-needed parts for mechanical ventilators and other critical care devices.
Key segments of the global mechanical ventilator market
Product Overview, 2018-2028 (USD Billion)
- Critical Care
- Transport & portable
Regional Overview, 2018-2028 (USD Billion)
- North America
- United Kingdom
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
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