- With the current pandemic of COVID-19, the demand for mechanical ventilators is projected to rise up in the near future
- In addition to this, increasing prevalence of chronic obstructive pulmonary disorder is also projected to have a highly positive impact on the overall development of the global mechanical ventilators market
ALBANY, New York, May 12, 2020 /PRNewswire/ -- TMR has now published a new research report that talks about the working dynamics of the global mechanical ventilators market. The research report tried highlight the important growth factors, inhibiting factors, key segments, current geographical outlook, and the overall state of the vendor landscape of the global mechanical ventilators market.
As per the research report, the global market for mechanical ventilators is projected to showcase a highly promising CAGR of 12.8% over the given course of the forecast period ranging from 2019 to 2027. In 2018, the valuation of the global mechanical ventilators market was around US$1.9 Bn. Given the rate of growth, the valuation of the global market is projected to rise up to US$5.5 Bn by the end of the forecast period in 2027.
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Global Mechanical Ventilators Market – Key Takeaways
- In terms of product, the global mechanical ventilators market is being dominated by the segment of critical care ventilators. It accounted for the largest share of the global market in 2018. With growing geriatric population and growing prevalence of COPD, the segment is projected to witness promising growth.
- Based on interface, the global mechanical ventilators market is being dominated by the non-invasive ventilators segment. In 2018, it accounted for a considerable share in the global marke.t
- The launch of non-invasive and portable ventilators has also revolutionized the global market in recent years.
- In terms of end users, the global market for mechanical ventilators is projected to be led by the segment of hospitals.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Mechanical Ventilators Market (Product Type - Critical Care Ventilators, Neonatal Ventilators, Transport and Portable Ventilators; Interface - Invasive Ventilators, Noninvasive Ventilators; End user - Home care, Hospitals and Clinics, Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 https://www.transparencymarketresearch.com/report-toc/1397
Global Mechanical Ventilators Market – Key Driving Factors
- One of the biggest driving factors for the growth of the global mechanical ventilators market has been the growing prevalence of chronic obstructive pulmonary disorder.
- With the increasing geriatric population in certain parts of the globe, they are more susceptible to get infected by such diseases. Naturally, this has prompted the overall development of the global market.
- In addition to this, the recent pandemic of COVID-19 has also had a huge impact on the demand for mechanical ventilators.
- With over a million reported cases across the globe of COVID-19 and considerable number in it supposedly critical, the demand for mechanical ventilators has been on the rise.
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Global Mechanical Ventilators Market – Key Restraining Factors
- One of the key restraining factors for the growth of the global mechanical ventilators market has been the mask induced injuries.
- Moreover, lack of compliance by patients, and rebreathing of CO2 are some of the other key issues that are projected to hamper the overall development of the global market in the coming years of the forecast period.
Global Mechanical Ventilators Market – Regional Outlook
- Based on regional segmentation, the global mechanical ventilators market is being dominated by the regional segment of North America followed by Europe.
- The North America segment accounted for a majority share of the global market in 2018 and is projected to continue to lead over the course of the forecast period.
- With the presence of key players and a developed healthcare infrastructure, the North America market is on course to witness a steady growth in the near future.
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Global Mechanical Ventilators Market – Key Players
Some of the key companies operating in the global mechanical ventilators market include names such as Teleflex Incorporated, VYAIRE, Dragerwerk AG & Co. KGaA, GE Healthcare, Medtronic plc, Koninklijke Philips N.V., Smiths Medical, ResMed Inc., Bunnell Inc., and Getinge AB. among others among others.
The global mechanical ventilators market has been segmented as follows:
- Global Mechanical Ventilators Market, by Product
- Critical Care Ventilators
- Neonatal Ventilators
- Transport and Portable Ventilators
- Global Mechanical Ventilators Market, by Interface
- Global Mechanical Ventilators Market, by End-user
- Home care
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Global Mechanical Ventilators Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Chronic Obstructive Pulmonary Disease (COPD) Treatment Market - The chronic obstructive pulmonary disease treatment market is projected to be valued at ~US$ 26.2 billion in the year 2027. The high prevalence of chronic obstructive pulmonary disease (COPD) and the need for improved treatment options are catalyzing market growth.
Non-invasive Ventilators Market - According to WHO, chronic respiratory disease affects nearly one billion individuals, globally, making it one of the leading causes of death. The non-invasive ventilators market is expected to reach a valuation of ~ US$ 1.5 Bn in 2019, and is likely to grow at a CAGR of ~ 6% through the forecast period.
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