Medical Ventilators Market Size, Trend Analysis & Competition Tracking By Product Type (Critical Care, Transport and Portable, Neonatal), By Technology (Invasive, Non-Invasive), By End User(Hospitals, Ambulatory Surgical Centres, Long Term Care Centres, Home Care Settings, Emergency Health Services) Global Market Insights 2021-2031
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Increasing investments in the medical ventilators market by key stakeholders and the development of new products are some of the major factors expected to boost market growth. The global medical ventilators market was valued at US$ 1.4 Bn in 2020 and is expected to exhibit a CAGR of 9.6% during the forecast period (2020 – 2030).
Key Takeaways of Medical Ventilators Market Study
- The critical care ventilators segment accounted for maximum value share in the global medical ventilators market in 2019, owing to its increasing use in critical care cases.
- Extensive use of invasive ventilators in the management of chronic respiratory failure is expected to result in a notable share of the segment in the medical ventilators market.
- The hospitals segment under end user accounted for over 53% of value share in the medical ventilators market, owing to high-quality clinical care in hospitals and high preference by respiratory disease patients.
- North America captured a notable revenue share of about 32% and is expected to be the most lucrative region in the global medical ventilators market during the forecast period.
- Increasing government funding is set to boost the medical industry’s growth in Asian countries. This is expected to drive the growth of the medical ventilators market in the region.
“Continuous focus on the development of portable and low-cost medical ventilators and increasing incidence of coronavirus disease across the globe is projected to propel the growth of the global medical ventilators market,” Says a Fact.MR Analyst.
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Key Points Covered in Medical Ventilators Industry Survey
- Market Estimates and Forecasts 2016-2031
- Key drivers and restraints shaping market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Medical Ventilators Market and How to Navigate
- Recommendation on a Key Winning Strategy
Increasing Production Capacity – Imperative Strategy for Market Players
Manufacturers are now focusing on boosting ventilator manufacturing capacity to meet the urgent global demand due to the COVID-19 pandemic. For instance, companies such as Medtronic, Koninklijke Philips N.V., GE Healthcare, and Getinge AB are now rapidly increasing their ventilator production by 40%-60%, to supply ventilators in response to the urgent need across the globe in the face of COVID-19.
Key Companies Profiled
- Becton Dickinson and Company
- Cardinal Health Inc.
- GE Healthcare
- Koninklijke Philips N.V
- Hamilton Medical AG
- Smith Medical Inc.
- Drägerwerk AG
- Fisher & Paykel Healthcare
- Bunnell Incorporated
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The research study on the medical ventilators market by Fact.MR incorporates an unbiased assessment of key demand-driving factors and trends, which have shaped the landscape of the medical ventilators market over 2015 – 2019 and includes a detailed assessment of key parameters that are anticipated to exert influence during 2020 – 2030. Market statistics have been presented on the basis of product type (critical care ventilators, and transport ventilators), by technology (invasive ventilators, and non-invasive ventilator), by end user (hospitals and ambulatory surgical centers, long term care centers, and home care settings) in seven key regions.
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Content Source: https://www.factmr.com/media-release/1479/global-medical-ventilators-market