NEW YORK, July 21, 2020 /PRNewswire/ --
KEY FINDINGS
The global ventilator market is projected to grow with a CAGR of 7.36% during the forecast years of 2019 to 2028. The key factors promoting the market growth include the rise in intensive care units (ICU), the geriatric population's surge, growing premature births, prevalence of respiratory diseases, and initiatives introduced by the government and other organizations.
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MARKET INSIGHTS
Ventilators provide vital care assistance to critically ill patients who are incapable of breathing on their own.They are categorized as mechanical (invasive) and non-invasive, based on the oxygen and air they offer.
These devices comprise a series of regulators that ascertain and monitor the safe amount of oxygen and pressure administration.
Intensive care units (ICU) entail a distinct and self-contained hospital space, with designated staff and equipment dedicated to the assistance of patients suffering from life-threatening conditions, complications, and injuries. According to the National Centre for Biotechnology Information (NCBI), in 2015, the United States had a capacity of 34.2 ICU beds, per 100,000 patients. Thus, the rise in the number of intensive care units is expected to reinforce the global ventilator market growth. However, it is projected that there would be a dearth in ICU beds in several regions across the world, due to the consequences of the COVID-19 pandemic.
REGIONAL INSIGHTS
The global ventilator market growth is geographically analyzed across the Asia Pacific, Europe, North America, and the rest of the world. The Asia Pacific region is expected to grow with the highest CAGR of 8.39%, due to significant technological advancements and improvements in the healthcare systems. Additionally, factors like the rapid rate of urbanization, and growing incidence of respiratory and lifestyle-oriented diseases like asthma and chronic obstructive pulmonary disease (COPD) drive the market growth.
COMPETITIVE INSIGHTS
The industrial rivalry among companies is high, as global players adopt acquisition strategies to augment their presence and remain competitive. Some prominent enterprises include Aerobiosys Innovations Private Limited, Hamilton Medical, Medtronic Plc, General Electric Company, Air Liquide, etc.
Our report offerings include:
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• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter's Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned
1. AEROBIOSYS INNOVATIONS PRIVATE LIMITED
2. AIR LIQUIDE
3. DRAGERWERK AG & CO KGAA
4. GENERAL ELECTRIC COMPANY
5. GETINGE AB
6. HAMILTON MEDICAL
7. KONINKLIJKE PHILIPS NV
8. LOWENSTEIN MEDICAL INNOVATION GMBH & CO KG
9. MEDTRONIC PLC
10. ONEBREATH INC
11. PENLON LTD
12. RESMED
13. SHENZHEN MINDRAY BIO-MEDICAL ELECTRONICS CO LTD
14. SMITHS GROUP PLC
15. VENTEC LIFE SYSTEMS
16. VENTINOVA MEDICAL
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