Size & Share of Medical Ventilator Market Will Reach Over USD 1466.3 Million by 2026: Facts & Factors

The medical ventilator market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire medical ventilator market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Units) and value (USD Million) from FY 2016 – 2026.

According to the Facts and Factors, Research Report, the global medical ventilator market in 2019 was approximately USD 846.1 Million. The market is expected to grow at a CAGR of 7.8% and is anticipated to reach around USD 1466.3 Million by 2026.

According to the data published by the World Health Organization (WHO), in 2020, approximately 80% of patients can recover from COVID-19 without hospital treatment. But in case of extreme situations, a person may cause respiratory damage to the virus, forcing the body's oxygen levels to decrease and make it difficult to breathe. In order to mitigate this, the medical ventilator is used to force blood, with elevated amounts of oxygen, into the lungs.

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Growing funding for healthcare research across the globe due to ongoing COVID-19 pandemic is major factor driving growth of the target market. In addition, rising incidence of respiratory diseases across the globe is another factor expected to fuel growth of the target market in the near future. However, reimbursement issues and the complications related with the use of ventilators are anticipated to hamper growth of the global medical ventilators market in the coming years. Nevertheless, emerging economies worldwide is expected to create lucrative growth opportunities for the kay operating players in the global medical ventilator market.

The global medical ventilator market is segmented based on type, mobility, and end user. The global market can be bifurcated on the basis of mobility into intensive care and portable. Based upon type segment the global medical ventilator market is segmented as invasive and non-invasive. The invasive ventilation segment is expected to dominate in the near future owing to its increasing adoption and range of applications in sleeping disorders, neurological diseases, and respiratory diseases. The end user segment of the target market is categorized in to hospital, ambulatory care center, and others.

Top Key Players:

Key players operating in the medical ventilator market not restricted to include ResMed, Becton, Dickinson and Company, Getinge, Philips Healthcare, Smiths Group, Hamilton Medical, GE Healthcare, Air Liquide, Dräger, and Medtronic. Key operating players in the global medical ventilator market are aiming towards the strategic partnerships and launches of innovative products.

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The medical ventilator market research report delivers an acute valuation and taxonomy of the medical ventilator industry by practically splitting the market on the basis of different components, applications, end-user, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the medical ventilator industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the medical ventilator industry is provided for the leading economies of the world.

The global medical ventilator industry is expected to provide potential opportunities to the manufacturers, vendors, and customers across the globe. The growing adoption of medical ventilators owing to the ongoing COVID-19 pandemic is a major factor expected to drive the growth of the target market in the near future. The increasing prevalence of respiratory diseases due to urbanization and growing pollution levels, high prevalence of tobacco smoking are factors driving the growth of the medical ventilator industry. Additionally, the growing aging population, coupled with increasing numbers of the ICU beds are expected to boost the growth of the global market in the near future. However, the complications associated with the use of ventilators and the issues related to reimbursement are major factors to restrain target market growth during the forecast period.

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Based upon the region the global market has been categorized as North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America is expected to dominate in the global market in terms of revenue as compared to that of markets in other regions during the forecast period 2020-2026. This is attributed to the availability of advanced healthcare sector in the countries of this region along with high prevalence of the respiratory diseases in the U.S. and other countries of this region. Increasing cases of COVID-19 and growing government funding for research is supporting the growth of the market in the region. Europe is expected to hold the second-largest share and Asia Pacific is anticipated to grow at significant CAGR in the near future. Europe market growth is owing to increasing prevalence of the coronavirus diseases in the countries of Europe, coupled with presence of major players in this region. The growth in the Asia Pacific countries is presence of a favorable business environment in the countries of the Asia Pacific.

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This report segments the medical ventilator market as follows:

Global Medical Ventilator Market: By Type

Invasive
Non-invasive

Global Medical Ventilator Market: By Mobility

Intensive Care
Portable

Global Medical Ventilator Market: By End-user

Hospitals
Ambulatory Care Centre
Others

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