The Community transmission of coronavirus disease (COVID-19) has created a noteworthy impact on the global mechanical ventilators market, during the forecast period. Moreover, the critical care segment has significant market growth in the global market. The Asia-Pacific region will create multiple opportunities for investments during the projected period. The leading companies of the mechanical ventilators market are concentrating on various strategies to sustain in the outbreak of COVID-19.
The COVID-19 pandemic has created a great impact on mechanical ventilators in the global market. The sustainability of the global market technological upgradations, surge in the geriatric population, and rising prevalence of chronic diseases across the nations. However, the businesses around the world have implemented a complete shutdown in order to prevent the spread of COVID-19, the companies operating in mechanical ventilators market are continuously working to support the community. In addition, key manufacturers of the mechanical ventilators market are implementing strategic plans such as strategic collaborations, product development, and technological innovations to strengthen the position in the global marketplace.
For instance, in April 2020, WEG, leading industrial electric motor manufacturer, has passed the technology transfer agreement with LEISTUNG Equipamentos Ltda. For the manufacturing of artificial ventilators. In addition to this, the government authorities are also supporting through grants, product approvals to these players, amid the COVID-19. For instance, in July 2020, Getinge, the global medical technology company, has received 510(k) approval from the U.S. Food & Drug Administration (FDA) for the Servo-air mechanical ventilator. These ventilators play a key role in the treatment of adult and pediatric patients. These factors are expected to create enormous opportunities for the global mechanical ventilators market, during the pandemic crisis. The report is designed to guide key-players in strategic, operational, and financial planning over the next coming years.
According to the study report published by Research Dive, the global mechanical ventilators market is set to register a revenue of $2,892.5 million by 2027, at a healthy CAGR during the analysis timeframe.
The segmentation of the global mechanical ventilators market has been done based on the product and region. The report provides key insights on drivers, segments, future opportunities, restraining factors, and key manufacturers of the global market.
The Factors Affecting Market Growth
As per our analyst estimates, the technological advancements, increasing prevalence of chronic disorders are fueling the global Mechanical ventilators market growth. However, health complications and the higher prices of mechanical ventilators are expected to restrain the growth of the global mechanical ventilators market, throughout the forecast timeframe.
Critical Care Segment Will be the Most Lucrative
Based on the product, the global mechanical ventilators market is categorized into neonatal, critical care, and transport & portable. The critical care segment shall have rapid growth, in the analysis period; due to high efficiency, cost-effectiveness, and excellent reliability.
Geographical Analysis and Major Market Players
Depending on the region, the global mechanical ventilators market is divided into North America, Asia-Pacific, Europe, and LAMEA. The Asia-Pacific mechanical ventilators market is expected to rise at a remarkable CAGR throughout the analysis period. The increasing healthcare supportive policies for the development of infrastructure and rising R&D and innovations mainly into, China, Japan, and South Korea are projected to propel the growth of the market, in the region.
The significant players of the global mechanical ventilators industry include Drägerwerk AG & Co. KGaA, Medtronic, Smiths Group plc, Teleflex Incorporated, Koninklijke Philips N.V., ResMed, Getinge AB, Bunnell Incorporated, VYAIRE, and GENERAL ELECTRIC COMPANY.
Mr. Abhishek Paliwal
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