WASHINGTON, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Ventilator Market finds that the outbreak of the covid-19 pandemic, increasing geriatric population, growing number of preterm births, large emergence of respiratory diseases and increasing requirement for ICU beds are expected to witness the maximum growth of Ventilator market during the projected years. The total Global Ventilator Market is estimated to reach USD 9.09 Billion by 2028, up from USD 6.59 Billion in 2021, at a compound annual growth rate (CAGR) of 7.1%, states Vantage Market Research, in a report, titled “Ventilator Market by Mobility (Intensive Care Ventilators, Portable Ventilators), by Interface (Invasive Ventilation, Non-Invasive Ventilation), by End-User (Hospitals, Home Healthcare, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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List of Prominent Players in the Ventilator Market:
- Philips Healthcare (Netherlands)
- ResMed Inc. (US)
- Medtronic plc (Ireland)
- Fisher & Paykel Healthcare Corporation Limited (New Zealand)
- Drägerwerk AG & CO. KGAA (Germany)
- Nihon Kohden Corporation (Japan)
- Getinge AB (Sweden)
- Asahi Kasei Corporation (Japan)
- Air Liquide (France)
- Vyaire Medical, Inc. (US)
- GE Healthcare (US)
Market Dynamics:
Increasing Lung Related Issues Fuels the Market Growth
This COVID 19 pandemic has spread across multiple countries and affected more than 35.6 million people. Due to the outbreak of COVID-19 pandemic, many people faces respiratory related diseases, thus, it increases lungs related problems in many people. In addition, many people died in this pandemic due to the lack of ICU beds and ventilator facility. Thus, many market players are started introducing lots of advance ventilator product in market, which in turn, increases the Ventilator market demand in the projected time period.
Technological Advancement in New Product Development Propels the Market Demand
The emergence of microprocessor-controlled ventilation provides new ventilator modes to improve critically ill ventilator patients. This technologically advanced equipment will create various growth opportunities for Ventilator market in near future. For instance, Philips Healthcare, a leading health technology company, launched Philips Respironics E30 Ventilator as a readily available ventilation alternative during the COVID-19 crisis. This Ventilator allows high-flow oxygen to support COVID-19 patients with respiratory insufficiency, both invasively and non-invasively. In addition, Nihon Kohden, a U.S. market leader in precision medical products and services, launched its new NKV-550 Series Ventilator System, which offers a full suite of applications necessary in a critical care setting for patients of all ages.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The Report on Ventilator Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
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Regional Analysis:
North America Dominates the Market Growth
North America is anticipated to dominate the Ventilator Market in 2021. This growth is accelerated due to the rising number of ICU admissions in the region. According to Society of Critical Care Medicine, over 5 million people are admitted to the ICU every year in U.S. and among 50% ICU patient requires ventilation facility to recover from disease. Therefore, it increases the demand for Ventilator Market in the region. In addition, rising adoption of healthcare insurances, growing healthcare expenditure and high disposable income are expected to propel the growth of Ventilator Market in this region.
Recent Developments:
December, 2020: Fisher & Paykel Healthcare honoured to win a Zenith Award from the American Association for Respiratory Care.
April, 2020: Philips partnered with Flex and Jabil to expand its hospital ventilator assembly lines and strengthen its supply chain. This partnership will enable the company to produce 4,000 hospital ventilators per week by the third quarter of 2020.
November, 2020: Nihon Kohden launched its new NKV-550 Series Ventilator System to offers a full suite of applications necessary in a critical care setting for patients of all ages from neonate through adult.
Browse market data Tables and Figures spread through 155 Pages and in-depth TOC on "Ventilator Market by Mobility (Intensive Care Ventilators, Portable Ventilators), by Interface (Invasive Ventilation, Non-Invasive Ventilation), by End-User (Hospitals, Home Healthcare, Other End Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/ventilator-market-962512
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Ventilator Market?
- How will the Ventilator Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Ventilator Market?
- What is the Ventilator market drivers and restrictions?
- What will be the CAGR and size of the Ventilator Market throughout the forecast period?
This market titled “Ventilator Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 6.59 Billion |
| Projected Market Size in 2028 | USD 9.09 Billion |
| CAGR Growth Rate | CAGR of 7.1% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Mobility • Intensive Care Ventilators • Portable Ventilators Interface • Invasive Ventilation • Non-Invasive Ventilation End-User • Hospitals • Home Healthcare • Other End Users |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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