Global Mechanical Ventilators Market to Reach $16.6 Billion by 2026
SAN FRANCISCO, May 27, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Mechanical Ventilators - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 18; Released: May 2021
Executive Engagements: 13678
Companies: 83– Players covered include Air Liquide Medical Systems; Allied Healthcare Products, Inc; Bunnell Inc; Carl Reiner Gmbh; Dräger Medical Canada, Inc.; Fisher & Paykel Healthcare Limited; GE Healthcare; Getinge AB; HAMILTON MEDICAL AG; Medtronic Plc.; Mindray Medical International Limited; Philips Respironics, Inc.; ResMed; Schiller Healthcare India Pvt. Ltd; Smiths Medical; Tecme SA; Vyaire Medical Inc. and Others.
Coverage: All major geographies and key segments
Segments: Mobility (Intensive Care, Portable/Transportable); Type (Adult, Infant); Interface (Invasive, Non-Invasive); End-Use (Hospitals & Clinics, Home Care, Ambulatory Care Centers, Emergency Medical Services)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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ABSTRACT-
Global Mechanical Ventilators Market to Reach $16.6 Billion by 2026
A Mechanical Ventilator (MV) is a device that provides breathing assistance to patients who are unable to do so by themselves, owing to certain medical conditions or serious injuries. Growth in the market is supported by rise in chronic respiratory ailments, such as Chronic Obstructive Pulmonary Disease (COPD), in both developed and developing economies. The prevalence of COPD and diverse respiratory diseases is increasing rapidly, mainly on account of lower air quality, in particular in countries with highly polluting industries. Market growth is also aided by increasing aging population, rise in chronic diseases, increase in critical care admissions, the launch of advanced new technologies and ventilation formats which checks lung injury, improved synchronization of patient and ventilator and lower hospitalization timeframe of patients. Technological advancement in the field represents a key demand driver for mechanical ventilators. Technological innovations are focused upon improving synchrony between the patient and ventilator; reducing the risk of lung injuries caused due to high inspiratory pressure; reducing alarm fatigue; and structural design improvements and more usage settings. Regulatory bodies expedited the process of giving approvals for ventilators to ease the shortage experienced due to the pandemic.
Amid the COVID-19 crisis, the global market for Mechanical Ventilators estimated at US$9.2 Billion in the year 2020, is projected to reach a revised size of US$16.6 Billion by 2026, growing at a CAGR of 9.2% over the analysis period. Intensive Care, one of the segments analyzed in the report, is projected to record 8.6% CAGR and reach US$12.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Portable/Transportable segment is readjusted to a revised 10.9% CAGR for the next 7-year period. The transportable mechanical ventilators market growth is driven by the requirement to provide treatment for critical care patients at point-of-emergency. Additionally, the growing practice of transferring patients with ventilator support from hospitals to alternate care is driving portable mechanical ventilators demand. Innovations in portability of devices, Positive Airway Pressure (PAP), and enhanced battery life of portable and transport devices are a strong growth driver for this market segment.
The U.S. Market is Estimated at $6.9 Billion in 2021, While China is Forecast to Reach $1.2 Billion by 2026
The Mechanical Ventilators market in the U.S. is estimated at US$6.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2026 trailing a CAGR of 12.4% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 9.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR. The US represents the largest market for Mechanical Ventilators. The market is mainly driven by enhanced healthcare infrastructure, adoption of newer technology, and improved reimbursement policies. Though ventilators is a mature market in industrialized regions, such as the US and Western Europe, aging population and continued increase in incidence of respiratory disorders and diseases, indicates that this market is unlikely to peter out anytime in the near to far future. Favorable government initiatives and expanding network of hospitals, untapped opportunities, and the growing number of intensive care units and neonatal intensive care units in hospitals, are propelling the growth of mechanical ventilators in developing regions. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world's only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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