Portable Ventilator Market Value to Surpass US$ 1.5 Bn by 2031, as per TMR Report

The global industry reached a value of US$ 856.4 million in 2021 and is expected to grow at a CAGR of 5.7% from 2022 to 2031, reaching over US$ 1.5 billion by the end of 2031.

The increasing movement of patients in hospitals and long-term care centers is forecasted to propel the global portable ventilator market during the forecast period. Portable ventilators play a crucial role in delivering oxygen to patients suffering from chronic diseases.

Furthermore, the rise in the geriatric population is expected to drive market growth in the coming years. The elderly are prone to chronic conditions and may require portable ventilators to assist with breathing.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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Portable ventilators are compact, mobile devices equipped with wireless connectivity, touchscreens, and data tracking capabilities. They are specifically designed to deliver mechanical ventilation in environments where access to piped gases and mains electricity is limited or unavailable.

These ventilators play a crucial role in providing ventilatory support to patients in intensive care units (ICUs). Equipped with reliable batteries, the majority of portable ventilators offer extended battery life, typically exceeding eight hours. This ensures uninterrupted ventilation support, particularly during patient transport between different healthcare facilities.

Characterized by their small size, lightweight design, and reduced reliance on external power sources, portable ventilators are highly practical and efficient alternatives to traditional mechanical ventilators. Additionally, they exhibit lower rates of gas consumption, further enhancing their utility and cost-effectiveness in various clinical settings.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Hamilton Medical, Medtronic, Vyaire, Airon Corporation, WEINMANN Emergency Medical Technology GmbH + Co. KG, Smiths Medical (ICU Medical, Inc.), Air Liquide Medical Systems, Dragerwerk AG & Co. KGaA, GE HealthCare, ZOLL Medical Corporation, Koninklijke Philips N.V., and ResMed.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Product Type

Portable Ventilator
Accessories

Application

In-hospital Transport
Long-term Care
Mass-casualty Critical Care
Others

𝐑𝐢𝐬𝐞 𝐢𝐧 𝐀𝐝𝐨𝐩𝐭𝐢𝐨𝐧 𝐨𝐟 𝐇𝐨𝐦𝐞 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐀𝐮𝐠𝐦𝐞𝐧𝐭𝐢𝐧𝐠 𝐏𝐨𝐫𝐭𝐚𝐛𝐥𝐞 𝐕𝐞𝐧𝐭𝐢𝐥𝐚𝐭𝐨𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧

The COVID-19 pandemic has fueled a preference for home healthcare as people sought to avoid crowded healthcare settings. Additionally, the shortage of mechanical ventilators during the pandemic has driven a surge in demand for portable alternatives.

The decline in air quality worldwide has heightened the need for portable ventilators among individuals with respiratory issues, as reflected by the Air Quality Index (AQI) in several cities. Consequently, the rise in home healthcare adoption and increasing air pollution levels are expected to drive demand for portable ventilators in the coming years.

The increasing number of preterm births has led to a greater utilization of neonatal portable ventilators. Governments globally are making substantial investments in healthcare infrastructure, while rising healthcare expenditure in developing nations is poised to bolster market growth in the near future.

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In June 2020, Medtronic plc and Foxconn Industrial Internet, a part of Foxconn Technology Group, announced that Foxconn completed Medtronic's regulatory and quality requirements necessary to begin the production of Medtronic Puritan Bennett 560 (PB560) ventilators for sale in the U.S.

In April 2020, Royal Philips collaborated with the U.S. Government to increase the production of hospital ventilators at its manufacturing sites in the U.S.

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Key trends shaping the portable ventilator market include the development of lightweight and compact ventilator systems, integration of wireless connectivity and remote monitoring features, and the emergence of advanced ventilation modes for personalized patient care.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The future of the portable ventilator market looks promising, with continued technological advancements, expanding applications in homecare settings, and increasing adoption in emerging markets. Manufacturers are focusing on developing innovative solutions to address the evolving needs of patients and healthcare providers.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

-Market size and growth projections
-Segmentation analysis based on service type, sourcing type, application, industry vertical, and region
-Regional analysis highlighting market dynamics and growth opportunities
-Market drivers, challenges, and trends influencing market growth
-Future outlook and growth prospects
-Competitive landscape and recent developments in the market

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐃𝐢𝐮𝐫𝐞𝐭𝐢𝐜 𝐃𝐫𝐮𝐠𝐬 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/03/08/2623148/0/en/Diuretic-Drugs-Market-to-Expand-at-a-CAGR-of-5-5-during-2023-2031-Reveals-TMR-Study.html

𝐕𝐨𝐢𝐜𝐞-𝐛𝐚𝐬𝐞𝐝 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/03/08/2622987/0/en/Voice-based-Payment-Technology-Market-Value-to-reach-US-18-2-Bn-by-2031-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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This release was published on openPR.