DUBLIN--(BUSINESS WIRE)--The "Ventilators Global Market Report 2020-30: Covid 19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.
The global ventilators market is expected to grow from $2.4 billion in 2019 to about $12.1 billion in 2020 as there is a massive surge in demand for ventilators as these are essential in the treatment of critical Covid-19 patients. The market is expected to stabilize and reach $4.2 billion at a CAGR of 14.7% through 2023.
There is an urgent and increased need of ventilators globally. This is because Covid-19 primarily manifests as an acute respiratory illness with pneumonia, and ventilators are the main supportive treatment for critically-ill patients. They assist or replace respiratory functions, pumping oxygen into the blood for vital organs. Therefore, the ventilators market is expected to grow significantly with the rapidly increasing cases of Covid-19 disease worldwide.
This report from the publisher covers this critical market and the impact on it from the Covid-19 virus. It provides strategists, marketers and senior management with the critical information they need to assess the increasing demand for ventilators which play a critical role in the treatment of patients with Covid-19.
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The number of complications associated with the use of ventilators is expected to negatively affect the ventilators market. The ventilators cause complications including bronchopleural fistula, pneumothorax and nosocomial pneumonia and similar complications that result in decrease in cardiac output, gastric problems and renal impairment, alkalosis. According to study, published in Brazilian journal of pulmonology, 38.1% of patients in hospitals treated with ventilators develop ventilator-associated pneumonia.
The companies in the ventilator market are increasingly expanding their ventilator production capabilities realizing the current demand due to the outbreak of the COVID-19 pandemic. COVID-19 is a respiratory disease caused by corona virus that infects lungs causing pneumonia and other respiratory conditions. The patients affected with the virus suffer with severe pneumonia and lung dysfunction resulting in need for the ventilator support for respiration. For instance, in March 2020, Medtronic, a leading medical device manufacturer increased its ventilator production by 40%. Also, in March 2020, Philips targeted to increase its ventilator production capacity by 4-fold, to meet the rising demand.
Rising prevalence of respiratory diseases is driving the ventilators market. The chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections and other causes will boost the demand of ventilators. The ventilators are respiratory devices that are used to support respiration in patients with chronic respiratory diseases. For instance, in 2020, corona virus infected 500,000 people worldwide and the current number of deaths due to the disease is around 20,000. Corona virus infects lungs causing pneumonia and other respiratory disorders affecting patient's respiration. The emergence of such infectious diseases resulting in pandemic is driving the ventilators market.
Key Topics Covered:
1. Executive Summary
2. Ventilators Market Characteristics
3. Ventilators Market Size And Growth
3.1. Global Ventilators Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Ventilators Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Ventilators Market Segmentation
4.1. Global Ventilators Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Ventilators Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Ventilators Market Regional And Country Analysis
5.1. Global Ventilators Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Ventilators Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Agilent Technologies
- Becton Dickinson and Company
- Koninklijke Philips N.V.
- Omron Corporation
- Covidien plc
- GE Healthcare Ltd.
- Allied Healthcare Products, Inc
- Briggs Healthcare
- PARI Pharma
- GF Health Products, Inc.
- Medline Industries Inc.
- Invacare Corporation
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