Ventilator Market to Reach USD 9.13 Billion by 2027; Surging Number of Critical Cases Owing to COVID-19 will Boost Growth, says Fortune Business…

August 27, 2020 07:03 ET | Source: Fortune Business Insights

Pune, Aug. 27, 2020 (GLOBE NEWSWIRE) -- According to this report, the Ventilator Market size was USD 2.54 billion in 2019 and is expected to reach USD 9.13 billion by the end of 2027 with a CAGR of 5.0% between 2020 and 2027.

The global market size is estimated to gain momentum on account of the increasing number of ICU admissions that require mechanical ventilation. This is further attributed to the growing prevalence of chronic diseases that requires critical care equipment such as incubators, ventilator, and other devices. A recent report by Fortune Business Insights, titled, Ventilator Market Size, Share & Covid-19 Impact Analysis, By Type (Adult, and Pediatric & Neonatal), By Interface (Invasive, and Non-invasive), By End User (Hospitals, Specialty Clinics, and Others), and Regional Forecast, 2020-2027, offers a comprehensive overview of the market.

The Report Answers the following questions:

Key Industry Developments of the Market Include:

March 2020 NKV-550 Series was launched by Nihon Kohden for patients irrespective of their age, admitted in the critical care units.

April 2020 RespirAD portable ventilator was launched by Biodesign Innovation Labs for taking care of coronavirus patients.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/ventilator-market-103257

Drivers & Restraints-

Advent of New Mechanical Ventilators will Add Impetus to Market

A ventilation machine provides artificial or mechanical respiration to a patient suffering from any chronic disease. The current COVID-19 pandemic has also increased the number of patients requiring intensive and critical medical aid. The World Health Organization (WHO) reports an estimate of about 4.7 million people suffering from COVID-19 all over the world as per May 18, 2020.

Therefore, a rise in the number of critical care unit cases is a significant factor in propelling the ventilator market growth. In addition to this, the rising disposable incomes of people and their willingness to spend more on advanced healthcare services have encouraged the improvement and up-gradation of healthcare infrastructure and medical facilities. This is also adding impetus to the market.

On the negative side, the complications associated with using ventilator such as nosocomial pneumonia, bronchopleural fistula, pneumothorax, and others may result in gastric problems, cardiac output, alkalosis, and renal impairment, thereby, hampering the overall market.

The global economy is facing huge losses on account of the current outbreak of the COVID-19 pandemic. Most of the businesses are at a halt and the ones that are running through minimum contact medium, are scantily drawing bare minimum revenues. However, we hope to overcome this situation soon with the government support. We, at Fortune Business Insights, are offering analytical reports on the impact of COVID-19 on various markets so that the investors can scrutinize them and accordingly make long-term investment decisions.

Click here to get the short-term and long-term impact of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/ventilator-market-103257

Invasive Segment to Emerge Dominant Attributed to their applications in ICU with chronic diseases

Based on segmentation by interface, the market is segmented into invasive and non-invasive segments. Among these, the invasive segment held a dominant share in 2019. This is accountable to the rising application of invasive ventilator in ICUs for the patients admitted with chronic respiratory diseases, neurological disorders and others.

Regional Analysis-

North America Emerged Dominant Accountable to Highest Number of Critical Care Patients

Regionally, North America generated USD 0.88 billion in terms of revenue in 2019 and emerged dominant. Factors responsible for this dominance include the rising number of patients admitted to intensive care and critical care units every year. Additionally, the reimbursement policies offered by the governments of Canada and the U.S. are also aiding in the expansion of this regional market.

On the other side, the second-largest market share is earned by Europe on account of the increasing adoption of mechanical ventilation support systems. Furthermore, Asia Pacific is likely to exhibit significant growth in the coming years on account of a rise in the development of healthcare infrastructure, increasing disposable incomes of people, and their willingness to spend on better medical facilities.

Quick Buy - Ventilator Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/103257

Competitive Landscape-

Dominant Players Focusing on Developing Novel Technologies for Advanced Ventilators

Currently, Hamilton Medical AG, Medtronic, Koninklijke Philips N.V., and Getinge AB are holding 40% or more shares in this market. This is owing to their strong focus on research and development of novel technology in the advanced ventilators. Other players are engaging in mergers and acquisitions, joint ventures, collaborations, and others to maintain their positions in the market.

Fortune Business Insights lists out the names of all the manufacturers operating in the market. They are as follows:

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/ventilator-market-103257

Ventilator Market Segmentations:

By Type

Adult

Pediatric & Neonatal

By Interface

Invasive

Non-invasive

By End-User

Hospitals

Specialty Clinics

Others

By Geography

North America (the U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

Latin America (Brazil, Mexico, and the Rest of Latin America)

The Middle East & Africa (South Africa, GCC, and the Rest of Middle East & Africa)

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/ventilator-market-103257

Have a Look at Related Reports:

Bone Void Fillers Market Share & Industry Analysis, By Type (Demineralized Bone Matrix (DBM), Collagen Matrix, Calcium Sulfate, Tri-calcium Phosphate, and Others), By Form (Gel, Granules, Paste, Putty, and Others), By End User (Hospitals, Specialty Clinics and Others), and Regional Forecast, 2020-2027

Intensive Care Unit (ICU) Equipment Market Share and Covid-19 Impact Analysis, By Product (Beds, Ventilators, Pulse Oximeters, Dialysis Equipment, and Others), By Patient (Adult and Pediatric), By Application (Neurology, Cardiology, Respiratory, Renal, Oncology, Trauma, and Others), By End-User (Hospitals, Specialty Clinics, and Others) and Regional Forecast, 2020-2027

Bone Graft Substitutes Market Share & Industry Analysis, By Type (Autograft, Allograft, Demineralized bone matrix (DBM), Synthetic, Xenograft), By Application (Spinal Fusion, Joint Reconstruction, Foot & Ankle, Others), By End User (Hospitals, Specialty Clinics) and Regional Forecast, 2020-2027

Telerehabilitation Market Share and Covid-19 Impact Analysis, By Type (Products, Services), By Application (Occupational Therapy, Physical Therapy, Chronic Diseases, and Others), By End-User (Healthcare Facilities and Homecare); and Regional Forecast, 2020-2027

C-arms Market Share & Industry Analysis, By Type (Fixed, Mobile), By Application (Or-thopedics and Trauma, Cardiology, Neurology, Gastroenterology, Oncology, and Others), By Detector (Flat Panel Detector, and Image Intensifier), By End User (Hospitals, Diagnostic Centers, Clinics and Others) and Regional Forecast, 2020-2027

About Us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us:

Fortune Business Insights Pvt. Ltd. 308, Supreme Headquarters, Survey No. 36, Baner, Pune-Bangalore Highway, Pune - 411045, Maharashtra, India.

Phone: US :+1 424 253 0390 UK : +44 2071 939123 APAC : +91 744 740 1245 Email: sales@fortunebusinessinsights.com Fortune Business Insights LinkedIn | Twitter | Blogs

Press Release: https://www.fortunebusinessinsights.com/press-release/ventilators-market-10073

Read the rest here:
Ventilator Market to Reach USD 9.13 Billion by 2027; Surging Number of Critical Cases Owing to COVID-19 will Boost Growth, says Fortune Business...