The Business Research Company’s Ventilators Global Market Report 2021- COVID-19 Implications And Growth
LONDON, GREATER LONDON, UK, September 8, 2021 /EINPresswire.com/ — Rising prevalence of respiratory diseases is driving the ventilators market. The chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections and other causes will boost the demand of ventilators. The ventilators are respiratory devices that are used to support respiration in patients with chronic respiratory diseases. For instance, as of December 2020, 67.9 million COVID-19 cases were reported. The coronavirus infects lungs causing pneumonia and other respiratory disorders affecting patient’s respiration. The emergence of such infectious diseases resulting in the pandemic is driving the ventilators market.
The global ventilators market is expected to decline from $12.11 billion in 2020 to $3.46 billion in 2021 at a compound annual growth rate (CAGR) of -71.4%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $4.67 billion in 2025 at a CAGR of 7.8%
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The companies in the ventilator market are increasingly expanding their ventilator production capabilities realizing the current demand due to the outbreak of the COVID-19 pandemic. COVID-19 is a respiratory disease caused by coronavirus that infects lungs causing pneumonia and other respiratory conditions. The patients affected with the virus suffer with severe pneumonia and lung dysfunction resulting in need for the ventilator support for respiration. For instance, in March 2020, Medtronic, a leading medical device manufacturer increased its ventilator production by 40%. Also, in March 2020, Philips targeted to increase its ventilator production capacity by 4-fold, to meet the rising demand.
The major players covered in the global ventilators market are Philips Healthcare, ResMed, Medtronic, Becton, Dickinson and Company, GE Healthcare, Hamilton Medical, Dräger, Getinge, Smiths Group, Fisher & Paykel, Air Liquide, Allied Healthcare Products, Teleflex Incorporated.
The global ventilators market is segmented by type into intensive care unit/critical care, transport/portable/ambulatory, neonatal, by end-user into hospitals and clinics, home care, ambulatory care centers, others, and by interface into invasive, non-invasive.
Ventilators Global Market Report 2021 – By Type (Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, Neonatal), By End-User (Hospitals And Clinics, Home Care, Ambulatory Care Centers), By Interface (Invasive, Non-Invasive), COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides ventilators market overview, forecast ventilators market size and growth for the whole market, ventilators market segments, and geographies, ventilators market trends, ventilators market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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