Ventilator Market To Reach USD 26.66 Billion By 2027
New York, NY -- (SBWIRE) -- 04/26/2021 -- The increase in respiratory disorders due to the growing pollution, coupled with technological advancements are driving the market.
The global Ventilator market is forecast to reach USD 26.66 Billion by 2027, according to a new report by Reports and Data. The ventilator market is witnessing a drastic increase in demand owing to the growing incidence of patients suffering from COVID-19. The number of cases are growing rapidly and the hospitals currently does not have enough for the patients that need them. Increase in the number of ICU beds and rise in geriatric population are propelling the demand of the market. The elderly and the ones with respiratory diseases are highly susceptible to the virus.
The global manufacturers are under lot of strain to manufacture large number of medical ventilators, they are sophisticated devices used by the critically ill. The factors driving the market are high incidence of chronic disease among children, and prevalence of heart diseases and respiratory problems. The worsening of pollution internationally is also impacting the market. Advancement in technology and advent of cost-effective, patient-friendly, and portable devices are further encouraging their usage. Moreover, supportive government policies in developing nations like India, and China are focusing on cost-efficient solutions to provide flexibility in patient care.
Key participants 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.
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The COVID-19 Impact:
The demand for the ventilator will grow tremendously during the pandemic. New equipment will enhance and expand performance capabilities, which will build sales in hospitals, outpatient facilities. Overall, the pandemic crisis will lead to multiple changes, which will result in companies adopting different strategies to meet increasing demand. There will also be a substantial change in the product pipeline, and the overall supply chain as macroeconomic shifts take place. The use of AI and other technologies is another trend which is highlighted. Gains will be driven by expanded market products that help hospitals and large outpatient facilities improve the accuracy, quality, and efficiency of treatment. There is still a huge discrepancy between available ventilators and the need.
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)
Target Population Outlook (Revenue, USD Billion; 2017-2027)
End User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals and Clinics
Ambulatory Care Centers
Emergency Medical Services
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Further key findings from the report suggest:
>The adoption of the non-invasive ventilator is due to the increasing acceptance of the therapeutic method that has contributed significantly to the development of respiratory medicine over the past few decades.
>Increase in the geriatric population has propelled the demand of the market product as the elderly are more prone to respiratory disorders along with heart diseases and low immune system.
>The demand in North America is due to the increasing number of patients affected by COID-19 in the U.S. The government is shelling out top dollars to meet the required demand of the ventilators in the hospitals and are still falling short.
>In the year 2019, 77,000 new ventilators were quite enough to fulfill the demand of the entire planet. In April 2020, the New York City alone forecasts a need for 30,000 extra machines.
>On 31st March 2020, Medtronic made the specifications of Puritan Bennett (PB) 560 portable ventilator hardware public. The complete specifications produce manuals, and design documents have been made accessible to the public to overcome the excess requirement of the ventilators during the pandemic…Continue
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
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 driver's analysis
184.108.40.206. High usage in Covid-19 virus
220.127.116.11. Increased adoption in medical sector
18.104.22.168. Advancement in technology
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
10.1. Becton, Dickinson and Company
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Technology Insights
10.1.4. Strategic Initiatives
10.2. Koninklijke Philips N.V.
10.2.1. Company Overview
10.2.2. Financial Performance
10.2.3. Technology Insights
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