February 08, 2021
The business intelligence report titled ‘Global Ventilator Market Analysis, 2020’, available with Market Study Report LLC, states that worldwide ventilator market is projected to grow with a CAGR of 13% over 2020-2025.
Ever-increasing elderly population who are susceptible to health conditions is primarily driving the global ventilator market growth. Rising pervasiveness of chronic ailments as well as breathing disorders will also propel the industry share.
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Moreover, with the advent of Covid-19 pandemic, the casualties are towering and demand for ventilator in surging from all across the globe. With the aftereffects extending for next 4-5 years, 2020 will reflect as the inflection point for global ventilator industry, as nation worldwide are focusing on enhancing their healthcare infrastructure and reducing casualties.
Based on type, the market is categorized into infant/neonatal ventilation, and adult/pediatric ventilation. As per interface, worldwide ventilator market is divided into non-invasive ventilation, and invasive ventilation.
Various modes include pressure mode ventilation, volume mode ventilation, and combined mode ventilation. While speaking of mobility, the market is fragmented into intensive care, and portable.
Different end-user in worldwide ventilator industry are emergency medical services, ambulatory care centers, home care, and hospitals & clinics. As per the report, hospitals accounted maximum industry revenue share in the recent past, owing to bolstering number of patients, inflow of investments for infrastructure development, and increasing deployment of ventilators in ICU (intensive care units).
Moving on to regional analysis, North America ventilator market amassed substantial revenues in 2019 and is slated to record decent growth the analysis timeframe, attributable to drastically rising cases of Covid-19, and growing instances of chronic diseases.
Companies which are capable of formulating global ventilator industry trends are Fisher and Paykel, Drägerwerk AG, Smiths Group plc, Hamilton Medical, Air Liquide S.A., Getinge, GE Healthcare, Becton Dickinson & Company (BD), Medtronic plc, ResMed, and Koninklijke Philips N.V.