Ventilator Market Growth & Trends
The global ventilator market size is expected to reach USD 2.85 Billion by 2027, growing at a CAGR of 11.2% between 2020 to 2027 as per the new research report published by Confianza Market Research & Consultancy. A ventilator is a medical equipment which helps to lungs to perform appropriate breathing when the patient is having breathing problem. Ventilators can’t fix the health issue or it can’t treat the patient but it can help in breathing. There are multiple names of the ventilator, for example, respirator, mechanical ventilation, breathing machine. Ventilators are used during surgery when the patient faces difficulty in breathing and when some patient has gone through the surgery than during recovery time the ventilators are very helpful.
The whole world is suffering from the new pandemic attack which caused respiratory infection named as COVID 19 in 2020, during this period the demand for ventilators has been increased exponentially. The estimate so far is if 6% of the people suffer from COVID 19, the 1 to 4% of them need ventilators for breathing. As per a recent study conducted by the World Health Organisation (WHO), 54% of the patients severely hit by the Corona Virus requires a ventilator for artificial respiration. North America is the dominant player in the ventilator market, it’s been observed that the revenue shares of the ventilator market is 31.7% in 2019 and is estimated to gain 60.0% in 2020. In the next quarter, there is exponential regional market growth will be observed in the US ventilator market because U.S. automotive giants like Tesla, Ford, and GM have switched to the production of medical supplies such as masks, mechanical ventilators, and other medical devices, etc. Also, GE Healthcare, Maquet Holding BV, Koninklijke Philips NV, and Smiths Medical. Companies in this market focus on producing high capacity ventilators to fulfill growing demand from around the world
Advantages of Ventilator-
- It helps to get oxygen easily into your lungs
- It diminishes carbon dioxide from your body
- Reduce infection risk
- Real-time monitoring of metabolism during critical illness.
Disadvantages of Ventilator
- Not a cost-effective solution
- Limited use to a single patient
- It can cause irritation and infection
- It can cause lung damage due to high pressure.
Ventilator Market Segmentation:
For the purpose of this report confianza market research has segmented the ventilator market based on type, end-user, and the region as mentioned below:
- Ventilator Operation Type Insights
- Ventilator Mobility Type Insights
- Ventilator Application Insights
- Critical Care
- Neonatal Care
- Emergency Care
- Ventilator Regional Insights
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America