Medical Ventilator Market Size Predicted to Reach USD 1466.3 Million by 2026
According to the report, The global medical ventilator market in 2019 was approximately USD 846.1 Million. The market is expected to grow at a CAGR of 7.8% and is anticipated to reach around USD 1466.3 Million by 2026.
According to the data published by the World Health Organization (WHO), in 2020, approximately 80% of patients can recover from COVID-19 without hospital treatment. But in case of extreme situations, a person may cause respiratory damage to the virus, forcing the body’s oxygen levels to decrease and make it difficult to breathe. In order to mitigate this, the medical ventilator is used to force blood, with elevated amounts of oxygen, into the lungs.
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Key players operating in the medical ventilator market not restricted to include ResMed, Becton, Dickinson and Company, Getinge, Philips Healthcare, Smiths Group, Hamilton Medical, GE Healthcare, Air Liquide, Dräger, and Medtronic. Key operating players in the global medical ventilator market are aiming towards the strategic partnerships and launches of innovative products.
The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the medical ventilator sector. Key strategic developments in the medical ventilator market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the medical ventilator market are appropriately highlighted in the report.
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The global medical ventilator market is segmented on the basis of type, mobility, and end-user. The global medical ventilator market can be categorized on the basis of mobility into intensive care and portable. Based upon type segment the global medical ventilator market is bifurcated as invasive and non-invasive. The invasive ventilation segment is expected to dominate in the near future owing to its increasing adoption and range of applications in sleeping disorders, neurological diseases, and respiratory diseases. The end user segment of the target market is categorized in to hospital, ambulatory care center, and others.
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