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Mechanical Ventilator Market Size, Share, Growth, Trends, Statistics and Regional Forecast to 2028

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Swapnil GVR
Mechanical Ventilator Market Size, Share, Growth, Trends, Statistics and Regional Forecast to 2028

The global mechanical ventilator market size was valued at USD 7.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2021 to 2028. The unprecedented dawn of COVID19 is anticipated to increase the demand by leaps and bounds for mechanical ventilators. As per the Society of Critical Care Medicine, the current stock of hospital ventilators in the U.S. is around 160,000 units in the 2020 Q1. An additional stockpile of 12,700 with Strategic National Stockpile (SNS) would be made available in grim situations.

To restrict the spread of this pandemic, governments in various countries have implemented strict measures including social distancing. In a welcome move, the U.S. FDA temporarily waived off its enforcement and inspection requirements, which would be helpful for cross-industry manufacturers to fabricate much-needed components for mechanical ventilators and other critical care equipment. Supportive and timely regulatory policies by the government are anticipated to provide a growth platform for this market in the coming financial year; thereby, affecting the growth rate over the forecast year.

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Key Player Mentioned:

 

·       Getinge AB

·       Medtronic

·       Vyaire Medical Inc.

·       Drägerwerk AG & Co. KGaA

·       Koninklijke Philips N.V.

·       Hamilton Medical

·       GE Healthcare

·       Smiths Medical

Product Segment Analysis:

 

·        Critical care

·        Neonatal

·        Transport & portable

·        Others

 

Increase in incidence of Chronic Obstructive Pulmonary Disease (COPD), rapid growth in the geriatric population, technological innovation, and rise in the incidence of respiratory emergencies in respiratory care devices are the major factors that will drive the market over the forecast period. The evolution of patient-friendly, cost-effective, and portable devices further encourage their usage.

 

Regional Segment Analysis:

 

North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.

Increasing geriatric population base requiring long term ventilation is expected to drive the demand for healthcare facilities offering long-term treatment for chronic respiratory conditions. An increasing need for emergency treatment for prolonged illnesses and protracted treatment associated with lung diseases in children as well as adults is expected to drive the growth of the market.

 

The study objectives of this report are:

·        To research global status, future forecasts, growth opportunities, key markets and key players.

·        To present the market development in us, Europe and China.

·        To strategically profile the key players and comprehensively analyze their development plan and methods.

Key aspects covered in the report include:

1.The market size and industry growth rate of the global and regional market across various segments

2. The region or the sub-segment that is expected to drive the Mechanical Ventilator market in the forecast period 2021-2028

3. Key companies operating in the global Mechanical Ventilator market and their market share

4. The Factors that are estimated to drive the Mechanical Ventilator Market growth

5. Key opportunities in the Mechanical Ventilator market

6. Key technological advancements and market trends that shape the market

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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