Mechanical Ventilators Market to Surpass US$ 8,598.9 Mn by 2030 - Coherent Market Insights

Global Mechanical Ventilators Market, by Product Type (Critical Care Mechanical Ventilators, Neonatal Mechanical Ventilators, Transport, and Portable Mechanical Ventilators), by End User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 5,124.2 Million in 2022 and is expected to exhibit a CAGR of 6.7% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

Increasing adoption of inorganic strategies such as product launches by key market players is expected to drive the global mechanical ventilators market over the forecast period. For instance, in November 2020, Koninklijke Philips N.V., a health technology company, announced that they had launched BiPAP A40 EFL, a non-invasive ventilator, that allows health care professionals to automatically screen and detect expiratory flow limitation and provide optimal homecare therapy.

Global Mechanical Ventilators Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been significantly impacted by the COVID-19 pandemic.

Many patients with COVID-19 have severe respiratory infection that requires hospitalization and mechanical ventilation. Therefore, the COVID-19 pandemic had a positive impact on the global mechanical ventilators market. For instance, in December 2021, the National Institutes of Health announced that they had granted US$ 4.6 million to the researchers at Intermountain Healthcare in Salt Lake City to study mechanical ventilator protocols for COVID-19 and other critically ill intensive care unit patients.

Global Mechanical Ventilators Market: Key Developments

Increasing production capacity by key market players is expected to drive the global mechanical ventilators market over the forecast period. For instance, in April 2020, Hamilton Medical, a medical device company, announced that they had been increasing the production capacity of critical care ventilators in the U.S. to support the accelerating need for ventilators in the U.S.

Browse 26 Market Data Tables and 27 Figures spread through 160 Pages and in-depth TOC on “Global Mechanical Ventilators Market”- Forecast to 2030, Global Mechanical Ventilators Market, by Product Type (Critical Care Mechanical Ventilators, Neonatal Mechanical Ventilators, Transport, and Portable Mechanical Ventilators), by End User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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https://www.coherentmarketinsights.com/market-insight/mechanical-ventilators-market-1605

Increasing production capacity of ventilators by key market players is expected to drive the global mechanical ventilators market over the forecast period. For instance, in April 2020, Koninklijke Philips N.V., a health technology company, announced its initiative to ramp up the production of E30 ventilators to support COVID-19 patients in invasive and noninvasive ventilation to treat a wide range of breathing conditions.

Key Takeaways of the Global Mechanical Ventilators Market:

• The global mechanical ventilators market is expected to exhibit a CAGR of 6.7% during the forecast period, due to the increasing adoption of inorganic strategies such as product launches by key market players over the forecast period. For instance, in April 2020, InnAccel Technologies Pvt Ltd., a medical technology company, announced that they had launched the Saans Pro, a non-invasive ventilation system for COVID-19 patients in intensive care units, which is used to treat patients with worsening hypoxemia.
• Among product type, the critical care mechanical ventilators segment is estimated to hold a dominant position in the global mechanical ventilators market over the forecast period due to the increasing product launches by key market players. For instance, in January 2022, OES Medical, a manufacturer of anesthesia equipment and accessories, announced that they had launched the Gemini-G100 ventilator at Arab Health 2022, a healthcare exhibition. Gemini-G100 ventilator is is an electrically driven piston critical care ventilator with an integrated oxygen concentrator for use in intensive care. The device has been designed for use in situations where high-pressure oxygen gas supplies are problematic.
• Among regions, North America is estimated to account for the largest market share in the global mechanical ventilators market over the forecast period, owing to the increasing adoption of inorganic strategies such as partnerships by key market players. For instance, in December 2020, CorVent Medical Inc., a medical device company, announced that they had entered into a strategic partnership with Siemens Healthcare GmbH, a medtech company, for the U.S. distribution of the RESPOND-19 ventilator to its network of hospitals, healthcare system, and government customers. RESPOND-19 ventilator provides critical care respiratory support that expands ventilation capacity during surges in patient volume, such as during a flu season or pandemic.
• Major players operating in the global mechanical ventilators market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Getinge AB, General Electric Company, Hamilton Medical, Medtronic, ICU Medical, Inc., Dragerwerk AG & Co. KGaA, ZOLL Medical Corporation, Koninklijke Philips N.V., VYAIRE, Fisher & Paykel Healthcare Limited, ResMed, Max Ventilator (A.B.Industries), NIHON KOHDEN CORPORATION, Inspiration Healthcare Group plc., CorVent Medical Inc., Inovytec, InnAccel Technologies Pvt Ltd., and OES Medical