Medical Ventilator Market Overview:
The recent COVID-19 pandemic outbreak is providing ample backing to the market as the healthcare sector is now in a dire need for such machines. In various countries, the automotive sector has been asked to produce such machines. Also, this has led to innovations, which can be launched quickly without heavy expenses.
The Global Medical Ventilator Market size is expected to take a strong leap with an impressive CAGR of 7.9% during the forecast period of 2017 to 2023. Market Research Future (MRFR) reveals several factors that can boost growth. The factors to ensure medical ventilator market growth are rising demand for better patient care in various hospitals, increasing investment in research and development to launch better products, better inclusion of top-end products, hike in investment to revamp the healthcare sector in various developing countries, and others.
However, the medical ventilator market may find some drawbacks in the form of its high price. Hospitals are a bit worried about acquiring these machines in bulk as such a global crisis is not expected to last long, and after a certain point of time, these machines may turn useless. For many, this is a bad investment.
Medical Ventilator Market Segmentation:
The study conducted by MRFR on the global medical ventilator market digs deep into the market by getting it segmented into type and application. This detailed reading of the market reveals several insights and ensures a proper understanding of the market.
By type, the global medical ventilator market can be segmented into invasive ventilators, non-invasive ventilators, and mechanical ventilators. The non-invasive ventilators include pressure-cycled, flow-cycled, volume-cycled, and time-cycled ventilators. The mechanical ventilators segment comprises positive pressure and negative pressure ventilators.
By applications, the report studies the medical ventilator market on the basis of neonatal care, emergency care, critical care, and others.
Medical Ventilator Market Regional Landscape:
The Americas are expected to lead the global medical ventilator market as the regional market is getting better traction from the US medical ventilator market. This is primarily due to the presence of various medical ventilator manufacturers. The hospital ventilator market is getting backed by increasing funding for a revamping.
In Europe, similar trends are providing backing. The ICU ventilator market share is rapidly increasing with the betterment of the healthcare service. In the Asia Pacific, India, China, Japan, and South Korea are showing ample growth opportunities.
Medical Ventilator Market Competitive Landscape:
The global medical ventilator market is getting influenced by the continuous support from companies like Medtronic (Ireland), Koninklijke Philips N.V. (the Netherlands), General Electric Company (U.S.), ResMed (U.S.), Hamilton Medical (Switzerland), Allied Healthcare Products Inc. (U.S), Becton, Dickinson, and Company (U.S.), Teleflex Incorporated (U.S.), and others. The ventilator market share by a company is showing a proper direction in which the growth is moving. In MRFR’s report, the recording of the latest moves of these companies is a plus as that helps in understanding how to develop various strategies for the future.
Medical Ventilator Industry News:
In April 2020, General Motors started delivering ventilators to various hospitals. It already delivered ventilators to delivered to Franciscan Health Olympia Fields in Olympia Fields, Illinois. It shipped around 10 ventilators. In the next round, it will ship 10 ventilators to Weiss Memorial Hospital of Chicago. These actions have been directed by the Federal Emergency Management Agency to counter the COVID-19 crisis due to which an unprecedented lack of ventilators has been noted across the world.