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Pre & Post COVID-19 Market Estimates- Ventilators Market Worth $7.72 billion by 2027- Exclusive Report by Meticulous Research

08-12-2020 09:03 AM CET | IT, New Media & Software

Press release from: Meticulous Research®

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Pre & Post COVID-19 Market Estimates- Ventilators Market Worth

According to a new market research report “Ventilators Market by Product (Instruments, Accessories), Mobility (Intensive Care, Portable), Interface (Invasive, Non-invasive), Age Group (Adult, Pediatric), Mode (Volume, Pressure, Dual), End User (Hospital, ASCs, Home Care) — Global Forecast to 2027”, published by Meticulous Research, the ventilators market is expected to grow at a CAGR of 15.8% from 2020 to reach $7.72 billion by 2027.

Download Free Sample Report Now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5093

Ventilatory intervention is often life-saving when patients with asthma or chronic obstructive pulmonary disease (COPD) experience acute respiratory compromise. Thus, the adoption of ventilator is increasing in the high-risk patients with rising incidence & prevalence of various chronic respiratory disorders across the globe. Moreover, the sudden outbreaks of infectious diseases such as COVID-19, which is highly related with respiratory problems, create huge demand for ventilators.

COVID-19: Impact on the Global Ventilators Market
Current COVID-19 pandemic has increased the demand for advanced healthcare facilities and created a burden on healthcare industry in terms of prevention, isolation, and providing treatment to the infected patients. It started with a few deaths in Wuhan, China, with the earliest reported case on November 17, 2019. Since then the exponential graph for the infected population has grown drastically in several other countries across the globe. Several highly infected countries such as the U.S., Italy, Spain, France, and the U.K. are experiencing shortfall for the healthcare supplies, including personal protective equipment, hospital beds, and ventilators, due to disrupted supply chain, economic loss, and reduced confidence on the quality of the imported supplies. As a result of this, the huge demand is expected to be faced by the global and local players operating in the ventilators market.

Check complete table of contents with list of table and figures:https://www.meticulousresearch.com/product/ventilators-market-5093/

Impact of COVID-19 on Ventilators Market in Developing Countries
COVID-19 has emerged from the China, and then became a pandemic across the globe. As compared to the developed countries like the U.S., Italy, Spain, developing countries have less incidences of COVID-19. However, these countries have weak infrastructure and a smaller number of medical supplies like facial mask, PPP Kits, hospital beds, and ventilators, among others. This situation is creating a pressure on governments to take the initiatives before the situation become uncontrollable. Thus, the various initiatives have been taken to boost the production of ventilators, for instance:
The Indian Institute of Science (IISC) team is building an indigenous ventilator prototype of an electro-mechanical ventilator from scratch, using only components found or made in India, based on guidelines issued by the U.K. Medicines and Healthcare products Regulatory Agency for COVID-19 victims. The ventilator was expected to be ready by April 2020.

Some Indian manufacturers have also doubled their production capacity of ventilators. These manufacturers together made only 2,520 ventilators in February 2020, whereas production in March as of 12th April 2020 doubled to 5,580 units. The plans are to increase the capacity of manufacturing from the current production capacity of 5,500–5,750 units per month to 50,000 ventilators per month by the end of May 2020.
The South African National Ventilator Project, driven by the country’s department of Trade and Industry, aims to locally produce a minimum of 10,000 ventilators by the end of June 2020, to tackle the COVID-19 pandemic situation.
Brazil has decided to purchase thousands of ventilators from China to fight the coronavirus epidemic, which then failed, and thus the country is now looking for local manufacturing of new devices.

Such initiatives create an opportunity for the local players of each country operating in the ventilators market to gear up their manufacturing capacity and cater the rising demand for various types of ventilators.

Read Our Latest Insights on COVID-19’s Impact on Various Industries, Visit: https://www.meticulousresearch.com/covid-19.php

The global ventilators market study presents historical market data in terms of value and volume (2018 and 2019), estimated current data (2020), and forecasts for 2027- by product (ventilator/instrument, accessories/consumables), interface (invasive, non-invasive), age group (adult & pediatric, neonatal & infant), mobility (intensive care ventilators, portable), mode (pressure mode ventilation, volume mode ventilation, dual/combines mode ventilation, and others), end user (hospitals, homecare settings, ambulatory surgical centers, and others), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on product, the ventilator accessories segment is estimated to account for the largest share of the overall market in 2020, owing to the frequent use of ventilators masks, circuits, catheters, and endotracheal tubes with increasing patient population in need of ventilation and growing awareness of hospital hygiene. However, the ventilator instrument segment is expected to witness rapid growth during the forecast period, mainly due to the higher demand for ventilators in healthcare settings with rising number of ICU beds and high cost of ventilator machines. Moreover, the rising prevalence of acute & chronic diseases; emergence of infectious diseases, such as COVID-19 and Ebola, resulting in the growing demand for ICUs; and increasing number of hospitals are also some of the key factors driving the growth of this segment.

Based on interface, in 2020, the invasive ventilators segment is estimated to hold the largest share of the overall ventilators market. The large share of these ventilators is primarily attributed to their application in ICUs for patients with chronic respiratory or infectious diseases, neurological diseases, and sleeping disorders. Moreover, in some cases, respiratory problems are permanent, which makes invasive ventilators all the more important. In addition, these ventilators also find application in preterm births. However, the non-invasive ventilators segment is expected to grow at the fastest rate primarily due to the growing technological advancements. With technological advancements, new ventilators specifically designed for NIV are developed and are increasingly adopted in both acute and chronic settings.

Based on age group, the adult & pediatric segment is estimated to account for the largest share of the overall ventilators market in 2020. This is primarily attributed to the higher adoption of ventilation support in the elderly population due to their weak immune response and high susceptibility towards chronic diseases, such as COPD and lung infections; increasing consumption of tobacco-related products; and rising pollution levels. The outbreak of COVID-19 has led to the growing number of adult patient admissions in hospitals, thereby expanding the growth of this segment.

Speak to our Analysts to Understand the Impact of COVID-19 on Your Business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5093

Based on mobility, the intensive care ventilators segment held the largest share of the overall ventilators market in 2019, primarily due to technological advancement & addition of features in ICU units & beds, favorable government scenario, sudden outbreaks of infectious diseases, and rising preterm births across the globe. However, the portable ventilators segment is expected to grow at the fastest growth rate during forecast period. The rising demand for portable ventilators from household & long-term care facilities and increasing demand from emergency medical service providers across the globe drive the growth of this segment.

Based on end user, the hospitals segment is estimated to account for largest share of the overall ventilators market in 2020. This share can be attributed to the large pool of patients suffering from respiratory diseases, availability of experienced doctors & trained professionals, and accessibility to better healthcare infrastructure with the availability of high-tech medical devices, including ventilators. In addition, since February 2020, with the outbreak of COVID-19, hospitals are witnessing an increasing demand for ventilators. Moreover, rising urbanization, increasing incidence of premature births, rising number of CCUs, and rise in the number of ICU beds will support the demand for ventilators from hospitals. However, the homecare settings segment is estimated to grow at the highest CAGR during the forecast period, owing to the growing demand for home care therapeutic devices from patients requiring long-term ventilation with increasing aging population and increased life expectancy.

Geographically, North America dominated the global ventilators market, followed by Europe, and Asia Pacific. The factors such as higher number of COVID-19 cases, strong & well-established healthcare sector, growing demand from government for ventilators, focus of key vendors on enhancing their production capacity, growing aging population, and greater access to healthcare supported the largest share of North America in the global ventilators market.

The report also includes extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by the leading market participants in the industry over the past 5 years. The ventilators market has witnessed number of new product launches & enhancements; agreements, partnerships, & collaborations; expansions; and acquisitions in the recent years. For instance, in March 2020, Philips (Netherlands) expanded its production capacity to double within next eight weeks. Similarly, in November 2019, Nihon Kohden (U.S.) launched NKV-550 Series Ventilator System.

The key players operating in the global ventilators market are Koninklijke Philips N.V. (Netherlands), Hamilton Medical AG (Switzerland), Medtronic plc (Ireland), Vyaire Medical, Inc. (U.S.), GE Healthcare (U.S.), Fisher & Paykel Healthcare Ltd (New Zealand), Dr?gerwerk AG & Co. KGaA (Germany), ResMed Inc. (U.S.), Zoll Medical Corporation (U.S.), Schiller AG (Switzerland), and Getinge AB (Sweden), among others.

Browse In-depth Summary of This Research Report: https://www.meticulousresearch.com/product/ventilators-market-5093/

Scope of the Report:
1.Ventilators Market by Product
Accessories/Consumables
Ventilator Catheters
Endotracheal Tubes
Ventilator Masks
Other accessories
Ventilator/Instrument

2. Ventilators Market by Mobility
Invasive Care Unit
Portable Ventilators

3. Ventilators Market by Interface
Invasive Ventilators
Non-invasive Ventilators

4. Ventilators Market by Age Group
Adult & Paediatric
Neonatal & Fatal

5. Ventilators Market by Mode
Volume Mode Ventilation
Pressure Mode Ventilation
Dual/Combined Mode Ventilation
Other Ventilation Modes

6. Ventilators Market by End User
Hospitals
Home Care Settings
Ambulatory Surgical Centers
Other End Users

7. Ventilators Market by Geography
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe (RoE)
Asia-Pacific (APAC)
Japan
China
India
Rest of APAC (RoAPAC)
Latin America
Middle East & Africa

Asia-Pacific
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2nd Floor, Pushpak Business Hub,
Wakad, Pimpri-Chinchwad,
411057, India.

Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions.

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