Ventilators Market | Growth, Trends and Forecast 2022-2030
Mechanical Ventilators replace or assist the
respiratory functions of a critically-ill patient who is at the risk of
multiple organ failure due to lack of oxygen supply. These medical devices are
expensive to manufacturer and prove to be the differentiating factor between
life and death. In the light of COVID-19 pandemic, the world is facing a
shortage of mechanical ventilators.
Leading manufacturers across the globe are escalating the
production of ventilators that could potentially save thousands of lives. Key
stakeholders are witnessing an unprecedented demand in the event of current
outbreak. Several companies in other industries such as aerospace and
engineering have come forward to offer assistance and produce this absolutely
vital equipment.
For instance, Dyson and Rolls-Royce have volunteered to
manufacture mechanical ventilators in the United Kingdom. Biomedical
engineering experts have predicted the scarcity of mechanical ventilators at
the peak of COVID-19 pandemic.
his has prompted entrepreneurs from wide spectrum of industries
to collaborate and ramp up the production of ventilators. Moreover, heavy
government incentive to scale up the overall production is another contributing
factor. The World Health Organization has repeatedly stressed on the need to
optimize the production of lung ventilation equipment. The officials in Germany
and the United States have desperately called for new ventilators as well.
Manufacturers
Undertake Innovative Measures to Combat Ventilator Shortage
Leaders worldwide continue to explore new ways of boosting the
production of ventilators. As many nations have banned the export of this
life-saving equipment in order to protect their citizens, companies are
channelling their resources towards research and development.
For instance, in Italy, certain manufacturers are opting
for 3D
printing technology
to expedite the fabrication of mechanical ventilators. Prominent manufacturers
in the UK and US have been urged by governments to step-up the production of
ventilators. COVID-19 has already overwhelmed the intensive care units of
countries such as Italy. The absence of drastic interventions such as shortage
of ventilators can have devastating outcomes in other countries as well.
The snorkelling masks originally designed for recreational
purposes at the beach are now being utilized by doctors in Italy for treating
COVID-19 patients. In severe cases, COVID-19 causes the lungs to undergo
fibrosis-like condition because of which the patients are unable to breathe
without assistance.
Hence, leading innovators are producing ventilators at breakneck
speed to bridge the enormous gap between demand and supply. Companies continue
to repurpose their supply chains and production lines in the wake of ongoing
outbreak. James Dyson has pledged to donate 5000 ventilators to other countries
as well. In addition, GE Healthcare announced collaborations with Ford Motor
Company to aid ventilator production.
Insights
into Ventilators Market: Regions, Drivers and Players
The global ventilator market is set to represent a
billion-dollar industry on account of greater prevalence of respiratory
diseases such as pneumonia, and COVID-19. In view of the widespread coronavirus
outbreak, leading companies continue to expand their capacities to meet the
unprecedented demand spurred by COVID-19.
Some of the major players in the global ventilator market
include, but are not limited to, Medtronic, Dickinson and Company, Becton,
Getinge, Hamilton Medical, GE Healthcare, Allied Healthcare Products, Resmed,
Smiths Group, Air Liquide, Asahi Kasei, and Fisher & Paykel. Medtronic
recently announced that its production facilities will be operational 24/7 to
fulfil the soaring demand for ventilators. The company has scaled up its
production capacity and doubled its workforce to produce new ventilators.
Global
Ventilators Market: Overview of Segmentation
The segmental analysis of the global ventilator market is
performed on the basis of end use (ambulatory care centres, emergency medical
services, hospitals & clinics), mode (combined-mode, volume-mode, and
pressure-mode), type (neonatal/infant ventilators, paediatric/adult
ventilators), and mobility (intensive care ventilators, critical care, and
portable ventilators) across five regions (North America, Latin America,
Europe, Middle East & Africa, Asia Pacific).
Hospitals remain the leading end-use segment of ventilators.
Demand for ventilators is witnessing an upswing in almost every major continent
of the world. Critical cases of COVID-19 are quite rare among children.
Therefore, adult ventilators will witness relatively greater demand worldwide.
The market leaders must focus on developing portable, cost-effective, and
patient-friendly ventilators to encourage its usage.
Rising population, urbanization, and chronic respiratory
diseases such asthma are key drivers of ventilators market. Moreover, other
lifestyle factors such as smoking are major contributors to the demand for
ventilators. As COVID-19 sweeps the globe, the scarcity of mechanical
ventilators will be excruciating for frontline staff to save precious lives.
Hence, global manufacturers face the daunting task of meeting
enormous demand and searching for new innovations to combat this deadly
respiratory illness. Governments’ relief packages, major collaborations, and
innovations in ventilators market have the potential to save countless lives in
the foreseeable future.
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More@ https://www.futuremarketinsights.com/reports/ventilators-market
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