Pune, Maharashtra, India, September 13 2022 (Wiredrelease) Prudour Pvt. Ltd –:A ventilator is a machine that helps people breathe. When someone can’t breathe on their own, a ventilator can give them the air they need to live. Ventilators are most often used in hospitals, but they can also be used at home. Some people need to use a ventilator only for a short time, while others need to use one for the rest of their life.
Report Summary
The worldwide market for Ventilators Market was valued at USD 1.5 billion in 2021 and is expected to reach USD 2.8 billion by 2029, registering a CAGR of 8.3% during the forecast period of 2022-2032.
The ventilators market is booming globally
As the COVID-19 pandemic continues to ravage countries around the world, the demand for ventilators has exploded. Hospitals are struggling to keep up with the demand, and many are resorting to desperate measures to find enough ventilators to treat their patients. The global ventilators market is expected to grow significantly in the next few years as a result of the pandemic. Companies that produce ventilators are ramping up production to meet the soaring demand, and new players are entering the market. The ventilators market is a critical component of the fight against COVID-19, and its growth is a sign of hope that the world will eventually overcome this devastating pandemic.
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Globally, leading manufacturers are increasing production of ventilators to potentially save thousands of people’s lives. In the current outbreak, key stakeholders are seeing an unprecedented demand. Many companies from other industries, such as engineering and aerospace, have offered assistance and produced this vital equipment.
The ventilators market has seen significant growth over the years due to technological advances such as the development of portable ventilators and the improvements in sensor technology in ventilators. The forecast period will see a significant increase in ventilators sales due to the rising number preterm births, the rapid growth of the geriatric population and the rising prevalence of respiratory disease, as well as the rising number ICU beds and the rising number COVID-19 patients. The market for ventilators has seen new opportunities thanks to the emergence of home healthcare. Other factors that are driving the growth of the home healthcare market for ventilators include comfort and convenience in the environment.
Ventilators Market Dynamics: Driver
High prevalence of respiratory diseases:
The WHO states that respiratory diseases account for over 10% of all disability-adjusted lifetime-years. This is a method of estimating the loss of productivity and active life caused by a condition. The respiratory diseases are second only after cardiovascular diseases (including heart attacks) in this category. COPD is the third leading cause of death. Lower respiratory infections are fourth; tracheal-bronchial-lung cancer is sixth; tuberculosis, tuberculosis, and asthma are 12th and 12th respectively. Over a billion people around the world suffer from acute and chronic respiratory illness. Ventilators are increasingly in demand due to an increase in the number people suffering from respiratory conditions.
Global market growth is expected to be driven by the rising incidence of respiratory and chronic diseases, the growing elderly population, the development of new ventilator technology, and the emergence the COVID-19 pandemic. The market is dominated by people over 65. Many chronic diseases require emergency treatment and Ventilator can be used to treat them.
High rates of COPD and asthma:
COPD, asthma and other respiratory disorders are the most common. According to WHO COPD was the third-leading cause for death in the world, accounting for 3.23 million deaths in 2019. More than 80 percent of these deaths occurred in low- and medium-income countries. Around 380 million people around the world are said to have COPD. Many people with COPD are unaware of their condition. This is especially true in Eastern Europe, China, India, Brazil and Brazil. COPD can cost healthcare systems around the world approximately USD 50 million annually.
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Opportunities in Ventilators: Advancements
Market opportunities are expected to be created by technological advances, including the development of advanced portable ventilators as well as improvements in sensor technologies. Additionally, the developments in non-invasive and microprocessor-controlled portable ventilators will further offer numerous growth opportunities for the market.
Restraints/Challenges Global Ventilators Market
Low awareness:
Market awareness is low regarding respiratory disease, leading to patients who are not being diagnosed and treated properly. The untreated respiratory diseases are a major obstacle to market growth.
Risks associated with Ventilators:
The use of mechanical ventilators may limit industry growth. The artificial airway can allow germs to enter the body. More mechanical breathing is necessary. The repeated opening and close of the tiny air sacs of the lungs can result in lung injury. Accordingly, the market for ventilators in 2022-2032 will be challenged by the potential risks associated to the use of devices.
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Key Market Players included in the report:
Medtronic
BD
Philips Healthcare
Hamilton Medical
Smiths Medical
Carl Reiner
Dragerwerk
GE Healthcare
Getinge
Mindray Medical International Limited
ResMed
Teleflex
DEMCON
Maquet
Airon Corporation
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Novartis AG Company Profile: https://market.us/company/novartis-ag/
Key Market Segments
Type
Noninvasive Ventilators
Invasive Ventilators
Application
Infancy
Anesthesia Management
Emergency Treatment
Others
Regional Segment Analysis
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Rest of APAC)
South America (Brazil and the Rest of South America)
The Middle East and Africa (UAE, South Africa, Rest of MEA)
Frequently Asked Questions (FAQ):
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Related Insights :
Mechanical Ventilators Market Globally Expected to Drive Growth through 2022-2031
Global Combined Mode Ventilators Market Development, Revenue, Demand and Forecast to 2031
Global Basic ICU Ventilators Market Statistics, Regional, And Forecast to 2031
Global Automatic Ventilators Market Qualitative Insights On Application 2031
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