Medical Ventilator Market -Overview
The spread of COVID infection has emerged as the primary element compelling demand. The revival of cases in some locations is anticipated to push its use even more into the medical ventilator market projected timeframe. The portable medical ventilator market is anticipated to be transformed as a part of government assistance in the form of expedited approvals and subsidies. As per MRFR, the market is estimated to utilize a CAGR of 4.14% to touch USD 3,605.82 Million by 2027.
Numerous medical ventilator market players are inventing ventilator designs to assist primary caregivers in sustaining a safe distance from patients while dealing with mounting patient numbers. The emergence of diversified and effective products to address the particular problems of the ongoing crisis is projected to push the medical ventilator market share.
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The segmental appraisal of the medical ventilator market is conducted based on portability, technology, application, end-user, and region. The medical ventilator market’s application segment includes emergency care, neonatal care, and critical care. Europe, MEA, Africa, and the Asia Pacific are represented in the medical ventilator market. Mechanical and automated medical ventilators are the two technology segments of the medical ventilator market. The medical ventilator market’s end-user portability category is divided into home care settings and hospitals & clinics. The medical ventilator market is divided into two interface segments: non-invasive and invasive. The medical ventilator market’s portability segment is divided into stationary and portable ventilators.
Detailed Regional Analysis
The regional review of the medical ventilator market includes the MEA, Africa, Europe, and the Asia-Pacific. Due to the product releases, enormous frequency of respiratory illnesses, and the procurement of new resources in the regional market, the Americas region led the medical ventilator market and is anticipated to maintain its domination throughout the forecast period. The improved prevalence of respiratory illnesses resulting from the pandemic’s spread in the Americas region will consolidate the region’s lead. The Asia Pacific medical ventilator market is expected to grow at the fastest rate in the projected period, owing to the advanced occurrence of COVID-19 cases and product endorsements, which would back the ventilators market’s growth. The medical ventilator market in the Middle East and Africa is projected to grow steadily. Due to a spike in COVID-19 cases in the Middle Eastern region, medical ventilators have escalated in national markets like the UAE, South Africa, and Saudi Arabia. With more planned tenders being launched by private and public businesses, the expansion rate will intensify in the future years.
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Government assistance is expected to support worldwide market development in the next years. It is projected that the emphasis on accumulating reserves of resources to deal with unexpected crises would impact future market trends. Market developments and research are expected to generate attractive growth opportunities in the next years. The reliance on online commerce for sales is expected to increase significantly during the forecast period, prompting market stakeholders to invest more in its growth. Due to the return of COVID cases in many locations, the market may exhibit constrained growth. The continuation of occasional lockdowns in numerous regions may cause the market expansion to be hampered if resources such as labor and supply chains are severely impacted. The global market is expected to diversify in operational techniques as innovative models for operation and delivery are implemented.
The central players in the medical ventilators market are Vyaire Medical, Inc. (US), Koninklijke Philips NV (Netherlands), Drägerwerk AG & Co. KGaA (Germany), Smiths Medical (US), Medtronic (Ireland), GE Healthcare (US), Hamilton Medical (Switzerland), Getinge AB (Sweden), Resmed (US), and Allied Healthcare Products Inc. (US).
Table of Content
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION 26
2.2 SCOPE OF THE STUDY 26
2.3 RESEARCH OBJECTIVE 26
2.4 MARKET STRUCTURE 27
2.5 ASSUMPTIONS & LIMITATIONS 28
3 RESEARCH METHODOLOGY
3.1 DATA MINING 29
3.2 SECONDARY RESEARCH 30
3.3 PRIMARY RESEARCH 31
3.3.1 PRIMARY INTERVIEWS AND INFORMATION GATHERING PROCESS 31
3.3.2 BREAKDOWN OF PRIMARY RESPONDENTS 32
3.4 FORECASTING TECHNIQUES 32
3.5 RESEARCH METHODOLOGY FOR MARKET SIZE ESTIMATION 33
4 MARKET DYNAMICS
4.1 OVERVIEW 36
4.2 DRIVERS 37
4.2.1 INCREASING PREVALENCE OF ACUTE AND CHRONIC ILLNESS 37
4.2.2 TECHNOLOGICAL INNOVATION IN MEDICAL VENTILATORS 37
4.2.3 RISING NUMBER OF APPROVALS AND PRODUCT LAUNCH 38
4.2.4 GOVERNMENT SUPPORT IN FAVOUR OF MEDICAL VENTILATORS 38
4.3 RESTRAINTS 39
4.3.1 STRINGENT REGULATIONS RELATED TO MEDICAL VENTILATORS 39
4.3.2 RISK ASSOCIATED WITH MEDICAL VENTILATORS 39
4.4 OPPORTUNITIES 40
4.4.1 COLLABORATION OF MAJOR PLAYERS IN THE MARKET 40
4.4.2 RISING DEMAND FOR NON-INVASIVE MEDICAL VENTILATORS 41
5 MARKET FACTOR ANALYSIS
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