Medical Ventilators Market | Global Value and Volume 2022-2032

The Medical Ventilators Market is expanding quickly as more emphasis is being placed on increasing production to meet an unexpected rise in demand during the COVID-19 epidemic. The market for medical ventilators was estimated at US$ 1.2 billion in 2019 and is anticipated to grow at a CAGR of 8.7% over the following five years (2020-2030).

The demand for medical ventilators has increased significantly as the number of severe cases of the life-threatening new coronavirus has increased (COVID-19). Manufacturers' and governments' intense focus on producing more medical ventilators is expected to drive market growth during the forecast period (2020-2030). The growing demand for portable and affordable medical ventilators creates a significant opportunity for global medical ventilators market companies to differentiate their products from the competition.

Key Takeaways of Medical Ventilators Market Study

  • Sales of critical care ventilators contributed the maximum share to the total market value, owing to increasing use in critical care areas of hospitals and other care areas as well.
  • Extensive use of invasive ventilators in the management of chronic respiratory failure is expected to result in a notable share of the segment in the medical ventilators market.
  • Hospital remains top end user contributing more than 38% of total demand, in line with high-quality clinical care and rising number of respiratory disease patients.
  • North America captured notable revenue share of about 30% and is expected to be the most lucrative region for the medical ventilators market during the forecast period.
  • Increasing government funding to boost the medical industry growth in Asian countries is expected to drive growth of the medical ventilators market in the region.

Increasing Production Capacity – Imperative Strategy for Market Players

Manufacturers are now focusing on increasing ventilator production capacity in order to meet the urgent global demand caused by the coronavirus pandemic. Companies such as Medtronic, Koninklijke Philips N.V., GE Healthcare, and Getinge AB, for example, are rapidly increasing ventilator production by 40%-60% to meet the global demand for COVID-19 ventilators.

What does the report cover?

In its most recent study, Future Market Insights provides a unique perspective and actionable insights on the medical ventilatorsmarket, presenting historical demand assessments from 2015 to 2019 and projections from 2020 to 2030 based on product (critical care ventilators and transport ventilators), technology (invasive ventilators and non-invasive ventilators), and end user (hospitals and ambulatory surgical centres, long term care centres, and home care settings) in seven key regions.

MEDICAL VENTILATORS MARKET TAXONOMYFMI's market research is divided into four key segments: product type, technology, end user, and region. This report provides detailed data and information on the key market dynamics and growth parameters associated with these categories.

Product Type

  • Critical Care Ventilators
  • Transport Ventilators

Technology

  • Invasive Ventilators
  • Non-Invasive Ventilator

End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Long Term Care Centers
  • Home Care Settings

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

Browse More Details@ https://www.futuremarketinsights.com/reports/medical-ventilators-market

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