New York, NY -- (SBWIRE) -- 01/28/2021 -- The ventilator market is observing an elevation in demand due to the rising number of patients affected by the novel coronavirus. As the number of COVID-19 cases is increasing rapidly, the hospitals are running out of emergency beds. Therefore, the soaring demand for ICU beds and the growing geriatric population are propelling the growth of the industry. The elderly population and individuals with chronic respiratory diseases are highly susceptible to the deadly coronavirus. The global market for ventilator has been foreseen to generate a revenue of USD 26.66 Billion by the year 2027.
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Leading Players Profiled in the Report Include:
Becton, Dickinson and Company, Koninklijke Philips N.V., Hamilton Medical AG, Fisher & Paykel Healthcare, Limited, Draegerwerk AG CO. KGaA, Medtronic PLC, GE Healthcare, Smiths Group PLC, ResMed Inc., and Maquet Holding B.V. & Co. KG, among others.
Market Dynamics
The manufacturers globally are concentrating on manufacturing ample medical ventilators—the sophisticated medical devices used by patients with a critical illness. The factors fueling the development of the market are rapidly rising cases of several chronic diseases among adults and children and the growing prevalence of various heart diseases as well as respiratory complications. The growing level of pollution globally is also impacting the market's growth. Advancements in technology and the advent of patient-friendly, cost-effective, and portable devices are further encouraging the usage of ventilators. The demand for the ventilator is growing tremendously at the time of the pandemic. Novel equipment will expand and enhance the performance capabilities, building sales in outpatient facilities and hospitals. Overall, the COVID-19 crisis will lead to several changes, which will influence various companies in adopting distinct strategies for meeting patient's demands.
Regional Analysis
North America is dominating due to the increasing cases of COVID-19 in the U.S. The government is putting efforts into meeting the patient's demand for ventilators in the hospitals. The growing geriatric population has triggered the market's demand due to the susceptibility to respiratory disorders, heart diseases, and having a low immune system.
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For the purpose of this report, Reports and Data have segmented into the global Ventilator market on the basis of type, target population, end user, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Mechanical Ventilators
Invasive Ventilator
Non-Invasive Ventilator
Target Population Outlook (Revenue, USD Billion; 2017-2027)
Pediatric
Adult
Geriatric
Others
End User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals and Clinics
Home Care
Ambulatory Care Centers
Emergency Medical Services
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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Table of contents
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2027
Chapter 3. Indicative Metrics
Chapter 4. Global Ventilator Market Segmentation & Impact Analysis
4.1. Global Ventilator Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
Continued…
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