Market Research Report
Global Ventilator Market: Analysis and Forecast, 2021-2030
|Published by||BIS Research Inc.||Product code||941001|
|Published||Content info||311 Pages
Delivery time: 1-2 business days
|Global Ventilator Market: Analysis and Forecast, 2021-2030|
|Published: June 9, 2020||Content info: 311 Pages||
“Global Ventilator Market to Reach $3,110 Million by the End of 2020 Due to COVID-19 Pandemic.”
Aerobiosys Innovations Private Limited, Air Liquide, Dragerwerk AG & Co. KGaA, General Electric Company, Getting AB, Hamilton Medical, Koninklijke Philips N.V., Lowenstein Medical Innovation GmbH & Co. KG, Medtronic plc, OneBreath Inc., Penlon Ltd, ResMed, SCHILLER, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Smiths Group plc, Ventec Life Systems, Ventinova Medical, VYAIRE MEDICAL,INC., WEINMANN Emergency Medical Technology GmbH + Co. KG, ZOLL Medical Corporation
Dyson Ltd, Ford Motor Company, General Motors Company, Maruti Suzuki India Limited, Virgin Orbit
The global ventilator market is witnessing an exponential rise in the size of the market due to the ongoing COVID-19 pandemic. The overall market was estimated to be $1,072 million in FY 2018, and it was expected to grow at a CAGR of 7.1% in the pre-COVID scenario. However, the COVID-19 pandemic has resulted in an extensive rise in the ventilator demand and has increased the growth rate by up to 172% in 2020. Presently, more than 45 companies are operating in this market, including already exiting healthcare companies and emerging non-healthcare companies. The maximum number of installed ventilators are in the U.S., followed by China and India. However, there is still a requirement for an additional 85,000 ventilators to cope with the COVID-19 pandemic. This demand and supply deficit of ventilators worldwide has led to major changes within the dynamics of the global ventilator market.
Moreover, to cope with the rising demand for ventilators, regulatory bodies across different regions, such as the Food and Drug Administration (FDA), Health Canada, and Therapeutics Goods Administration (TGA), have taken unprecedented steps. For instance, in March 2020 FDA declared COVID-19 pandemic as a public emergency and authorized anesthesia gas machines, continuous positive airway pressure (CPAP), and other sleep apnea devices as alternative ventilators under emergency use authorization (EUA). Furthermore, in April 2020, the TGA published a document stating the minimum requirements to be met by medical devices to be used as alternative ventilators.
Our healthcare experts are continuously analyzing the impact of regulatory and industrial decisions on the global ventilator market. The market is driven by certain factors, which include the rising incidence of respiratory diseases, high rate of premature births, rising demand for critical care in the geriatric population, and government initiatives for boosting the ventilator production.
The market is favored by the development of low-cost ventilator products and partnerships between healthcare and non-healthcare companies for scaling up the ventilator production.
Within the research report, the market is segmented based on product type, modality, patient age, end user and regional analysis. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.