COVID-19 Impact on Medical Ventilator Market Size Analysis, Future Trends, Growth Estimation, Sales Insights and Industry Dynamics By 2023

Medical Ventilator Market Trends, Size and Growth Analysis By: By Type (Noninvasive Ventilators, Invasive Ventilators, Mechanical Ventilators), By Application (Critical Care, Neonatal Care, Emergency Care, Others) - Forecast Till 2023

The demand for ventilators is growing with a rising number of critically ill patients, a high prevalence of chronic illness among children, the incidence of lifestyle disorders such as heart attack, respiratory diseases, and demand for emergency ventilators. However, the risk involved with the use of ventilation is that patients may have a pneumonia-related ventilator, which is one of the common types of hospital-acquired infections when ventilated for a long time.

According to Market Research Future (MRFR), in its recent study on the COVID-19 Impact on Medical Ventilator Market size, asserts that the market is projected to grow at a CAGR of 7.9% by 2023. A medical ventilator is a respiration aid device for critically ill patients and those in need of emergency care. Ventilators are often used to provide anesthesia to the patient before surgery. Ventilators can also be equipped with monitoring and alarm systems for constant patient monitoring, backup batteries, oxygen tanks, and remote control. The ventilators are either invasive or non-invasive and mechanical. The most widely used type of mechanical ventilator is a modern positive pressure ventilator.

Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/695

Medical Ventilator Market Segmentation

The global medical ventilator market has been segmented based on types of ventilators and applications.

Based on types of ventilators, the global medical ventilator market has been segmented into non-invasive ventilators, mechanical ventilators, and invasive ventilators. The segment for non-invasive ventilators is further divided into volume-cycled, flow-cycled, pressure-cycled, and time-cycled ventilators. The segment for mechanical ventilators is further divided into positive pressure and negative pressure ventilators.

Based on applications, the medical ventilator market is segmented into critical care, neonatal care, emergency care, and others.

Medical Ventilator Market Regional Insights

The medical ventilator market consists of four regions: the Americas, Asia Pacific, Europe, and the Middle East & Africa.

The Americas is the largest medical ventilator market due to an increase in lifestyle conditions leading to asthma, chronic obstructive pulmonary conditions, bronchitis, and other disorders. In addition, an increase in surgical procedures, a rise in the number of critically ill patients, and the involvement of a growing number of medical device manufacturers in the U.S. are driving the growth of the industry. In addition, smoking addiction leading to obstruction of breathing and other lung diseases also leads to the growth of this industry.

Europe is the second-largest medical ventilator market due to the growing prevalence of chronic respiratory diseases and the need for mechanical ventilators. Strengthening healthcare services, the availability of government resources, and the need for critical care facilities also lead to the development of this sector in Europe.

The Asia Pacific is showing the highest growth in this medical ventilator market due to the prevalence of chronic heart disease and respiratory disease, rising environmental pollution leading to different forms of lung disorders, and the existence of a large patient pool is driving the growth of this market. The demand for point-of-care administration, the growing number of surgical procedures, and the demand for non-invasive ventilators are also driving this Asia Pacific medical ventilator market. Moreover, Increased prevalence of heart disease and its risk factors, such as diabetes and a growing number of geriatrics, also support medical ventilator market growth in the Asia Pacific.

The medical ventilator market is showing steady but rising growth in the Middle East and Africa due to the prevalence of obesity, heart disease, and other chronic diseases and the increasing number of surgical procedures performed in hospitals.

COVID-19 Impact Analysis on the Global Medical Ventilator Market

The COVID-19 outbreak has stressed healthcare workflows all over the world. The disease has caused a number of industries to temporarily shut their doors, including several health-care sub-domains. Meanwhile, there has also been a positive impact and a growing demand for various medical sectors, including intensive care units (beds, ventilators, etc.), healthcare personal protective equipment, and others.

A medical ventilator is one of the primary devices used to treat COVID-19. There has been a huge increase in demand for medical ventilators for COVID-19, forcing different manufacturers to bolster their production by 30-50%. It was projected that about 77,000 new ventilators were necessary to meet global demand in 2019. Whereas in April 2020, around 30,000 additional ventilators were needed in New York City itself. Several major players are pushing for the development and distribution of as many ventilators as possible around the world.

Impact of COVID-19 on Medical Ventilator Market by Region

France

In France, various industries are competing to meet the demand for ventilators across the region. Medical gas specialists Air Liquide SA and Peugeot SA, Schneider Electric SE, and Valeo SA have joined the consortium to manufacture and supply ventilators across the country. The partnership of these companies is expected to deliver about 10,000 ventilators by mid-May. The French Government is backing the initiative to the tune of $38 million.

Hospital Cochin (Public Assistance Hospital) produced 60 3D printers to manufacture medical equipment swiftly and in huge quantities to meet the demand for equipment during this COVID-19 pandemic. This was primarily used to produce valves for emergency artificial ventilators

To boost the country’s health, the French government will fund around $4.4 billion to purchase masks and ventilators.

United States of America

The United States is one of the major countries affected by COVID-19. There is a tremendous need for medical ventilators across the world. According to Wall Streets, the United States is expected to purchase more than $2.5 billion in ventilators for coronavirus patients. In order to fill the shortage of medical ventilators, the government has appealed to various automotive companies to manufacture and ship medical ventilators. For the shipment of these ventilators, Tesla, one of the renowned automotive companies, has joined hands with various medical device companies.

The US government announced the introduction of a hospital-led ventilator exchange program. In partnership with the American Hospital Association, the objective of this program is to use unused ventilators by sending them to hospitals in hot spots. This program is expected to provide 60,000 unused ventilators to people infected with COVID-19.

The US Government and Philips are working together to boost the production of medical ventilators for COVID-19. According to Philips, it is expected to deliver 43,000 units to hot spot regions in the U.S. in the coming weeks and months by the end of 2020. General Motors, an automotive company, has been contracted by the government to manufacture 30,000 ventilators by the end of August.

India

Although the number of infected people in India is still considered small and there is a nationwide lockdown in force. The Indian Government is continually monitoring the problem of shortage of ventilators. Many measures have been taken to ensure that hospitals are well equipped and that there is no shortage of ventilators for COVID-19 patients. In order to improve healthcare, the Union Government ordered the procurement of 40,000 new ventilators.

The Governments of India have requested various automotive companies to help in the development and distribution of medical ventilators across the world. Indian companies such as Maruti, Mahindra, and Tata Motors have increased the development and distribution of ventilators across the world.

COVID-19 Impact Analysis of Medical Ventilator Market Key Players

The leading participants in the medical ventilator market are Koninklijke Philips N.V. (the Netherlands), Medtronic (Ireland), ResMed (U.S.), General Electric Company (U.S.), Becton, Dickinson, and Company (U.S.), Allied Healthcare Products Inc. (U.S), Hamilton Medical (Switzerland), Teleflex Incorporated (U.S.)

Philips

Philips is one of the major manufacturers of medical ventilators. On April 24th, the company reported an increase of 4,000 units per week in the production of hospital ventilators by Q3 2020. The company also launched its new Philips Respironics E30 fan with immediate production of 15,000 units per week. In addition, the company and its manufacturing partners, including Flex Ltd., Jabil, and others, have expanded its hospital ventilator assembly lines to strengthen its supply chain.

Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/report/covid-19-impact-ventilators-market

Medtronic

On April 8th, the company obtained permission for the use of PB560 in the United States through the Emergency Use Authorization (EUA) authority of the Government. The company is expected to expand its production by five times the current level. The company used to ship more than 300 ventilators a week earlier. Currently, the company is expected to expand production from 300 to 700 ventilators per week, reaching more than 1,000 ventilators per week by the end of June. With this pace, the company is expected to manufacture 25,000 ventilators over the next six months.

AgVa Healthcare

Indian company AgVa has introduced a toaster-sized ventilator costing around $2,000, while conventional ventilators cost more than $10,000. The company is expected to generate 40,000 units per month from 500 units per month. The company also expected to increase production by up to 160,000 units per month.

Browse More Healthcare Related Research Reports at:

Big Data in Healthcare Market Research Report - Global Forecast to 2027
https://www.marketresearchfuture.com/reports/big-data-healthcare-market-791

Orthopedic Implants Market Research Report – Forecast to 2023
https://www.marketresearchfuture.com/reports/orthopedic-implant-market-838

Global Human Insulin Market Research Report - forecast to 2027
https://www.marketresearchfuture.com/reports/human-insulin-market-one-849

NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Contact:

Akash Anand

Market Research Future

+1 646 845 9312

Email: sales@marketresearchfuture.com

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

This release was published on openPR.