Mechanical Ventilator Market Revenue, Growth, Restraints, Trends, Company Profiles Analysis & Forecast Till 2030

The global Mechanical Ventilator Market is forecast to reach USD 3.70 billion by 2030, according to a new report by Reports and Data. The Mechanical 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 Mechanical Ventilator; 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.

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The COVID-19 Impact:

The demand for the Mechanical 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 Mechanical Ventilators and the need.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.

Top Companies Profiled in the Report:

·       Koninklijke Philips N.V

·       Medtronic plc

·       Drägerwerk AG & Co. KGaA

·       General Electric Company

·       Allied Healthcare Products, Inc

·       Heyer Medical AG

·       Asahi Kasei Corporation

·       Shenzhen Mindray Bio-Medical Electronics Co., Ltd

·       Avasarala Technologies Limited

·       ResMed Inc

·       Nihon Kohden Corporation

·       Hamilton Medical AG

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Further key findings from the report suggest,

• The adoption of the non-invasive Mechanical 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 Mechanical Ventilators in the hospitals and are still falling short.
• In the year 2019, 77,000 new Mechanical 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 Mechanical 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 Mechanical Ventilators during the pandemic.

 

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Mechanical Ventilator Market Segmentation:

Type Outlook (Revenue, USD Billion; 2019-2030)

• Mechanical Mechanical Ventilators
• Invasive Mechanical Ventilator
• Non-Invasive Mechanical Ventilator

Target Population Outlook (Revenue, USD Billion; 2019-2030)

• Pediatric
• Adult
• Geriatric
• Others

Regional Outlook:

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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Summary of the Mechanical Ventilator Market Research Report:

•       Insightful information regarding the global Mechanical Ventilator market

•       Strategic recommendations for the investment opportunities

•       The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate

•       Emerging trends and current market segment analysis to help investors formulate new business strategies

•       Thorough SWOT analysis and Porter’s Five Forces analysis along with feasibility analysis and investment return analysis 

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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