Mechanical Ventilator Market Expected to Reach $18.6 Billion by 2030

Mechanical Ventilator Market was valued at $4.6 billion in 2020, and is estimated to reach $18.6 billion by 2030, growing at a CAGR of 12.82% from 2021 to 2030. Mechanical ventilator is a machine that helps patients breathe when they are having surgery or cannot breathe on their own due to a critical illness. Patients are connected to the ventilator with a hollow tube (artificial airway) that goes in their mouth and down in their main airway or trachea. Mechanical ventilator is majorly classified as intensive care and portable mechanical ventilator.

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

DRAEGERWERK AG & CO. KGaA, VYAIRE MEDICAL INC., KONINKLIJKE PHILIPS N.V. (PHILIPS), CARL REINER GmbH, GETINGE AB (MAQUET HOLDING B.V. & CO. KG), GENERAL ELECTRIC COMPANY (GE HEALTHCARE), MINDRAY MEDICAL INTERNATIONAL LIMITED, ASAHI KASEI CORPORATION (ZOLL MEDICAL CORPORATION), HAMILTON MEDICAL AG, SMITHS GROUP PLC., MEDTRONIC PLC.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/453

The growth of the global mechanical ventilator market is driven by increase in incidence of chronic respiratory diseases, such as asthma, chronic obstructive pulmonary disease (COPD), bronchitis, and lung cancer as well as surge in geriatric population. In addition, rise in number of tobacco smokers leads to severe lung diseases, thus contributing toward the market growth. For instance, according to the World Health Organization (WHO) report published in July 2021, tobacco kills more than 8 million people each year, and more than 7 million of those deaths are a result of direct tobacco use while around 1.2 million are the result of non-smokers being exposed to passive smoking. Furthermore, rise in per capital healthcare expenditure and increase in number of hospitals worldwide are expected to supplement the market growth throughout the forecast period. However, high cost of mechanical ventilators and injuries associated with invasive ventilation restrict the market growth.

On the contrary, the global mechanical ventilator market is currently witnessing surge in demand for ventilators across the world, owing to rise in number of cases of COVID-19. In this health condition, oxygen levels drop as the virus attacks lungs of patients, thus resulting in breathlessness.

Hence, the need for external support for breathing such as mechanical ventilator market is anticipated to strengthen the growth of the global market. Consequently, rise in number of COVID-19 patients have propelled market players to double the production of mechanical ventilators, which is expected to offer remunerative opportunities for the expansion of the global market during the forecast period.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/453

The COVID-19 outbreak is anticipated to have a positive impact on the growth of the mechanical ventilator market. COVID-19 has negatively impacted many industries; however, it propels the demand for various medical services, including intensive care units (beds and ventilators) and personal protective equipment for healthcare. The COVID-19 infection is associated with respiratory failure, and requires critical care with ventilator support. Mechanical ventilation has regularly been employed to oxygenate seriously ill COVID-19 patients. For instance, according to the report from Imperial College London in November 2020, 30% of COVID-19 hospitalized patients are likely to require mechanical ventilation. In addition, new delta and omicron variants of COVID-19 with high spreading rate found in mid-November 2021 have increased the risk of third wave across the world. Thus, the muted variants of COVID-19 have influenced entire healthcare sector to meet healthcare requirements, including hospital instruments such as mechanical ventilators.

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