Ventilators Global Market To Reach Value Of About $5 Billion In 2025
14 Oct, 2021
The ventilator devices market consists of sales of ventilators used in respiratory care for patients with acute or chronic respiratory disorders. The sales consist of revenues generated by establishments that are primarily engaged in the manufacturing of intensive care ventilators (critical care ventilators), neonatal care ventilators, and portable & transportable ventilators.
Global Ventilators Market Size And Drivers:
The global ventilators market is expected to decline from $12.11 billion in 2020 to $3.46 billion in 2021 at a compound annual growth rate (CAGR) of -71.4%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $4.67 billion in 2025 at a CAGR of 7.8%. Rising prevalence of respiratory diseases is driving the ventilators market.
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Trends In The Global Ventilators Market
The companies in the ventilator market are increasingly expanding their ventilator production capabilities realizing the current demand due to the outbreak of the COVID-19 pandemic. COVID-19 is a respiratory disease caused by coronavirus that infects lungs causing pneumonia and other respiratory conditions. The patients affected with the virus suffer with severe pneumonia and lung dysfunction resulting in need for the ventilator support for respiration. For instance, in March 2020, Medtronic, a leading medical device manufacturer increased its ventilator production by 40%. Also, in March 2020, Philips targeted to increase its ventilator production capacity by 4-fold, to meet the rising demand.
Global Ventilators Market Segments:
The global ventilators market is further segmented –
By Type: Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, Neonatal
By End-User: Hospitals and Clinics, Home care, Ambulatory Care Centers, Others
By Interface: Invasive, Non-Invasive
By Geography: The global ventilators market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/ventilators-market-global-report-2020-2030-covid-19-implications-and-growthVentilators Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ventilators market overviews, analyzes and forecasts market size and growth for the global ventilators market, ventilators market share, ventilators market players, ventilators market segments and geographies, ventilators market’s leading competitors’ revenues, profiles and market shares. The ventilators market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.