According to the latest report by IMARC Group, titled “Mechanical Ventilators Market Price Trends: Global Industry Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global mechanical ventilators market exhibited strong growth during 2015-2020. the global mechanical ventilators market is currently witnessing strong growth. A mechanical ventilator is a form of life support system that aids patients who are unable to breathe on their own due to a critical illness or during surgery. This machine consists of a hollow tube that is inserted through the mouth of the patient and into the airway. It ensures the availability of adequate oxygen in the body until the health condition of the individual improves. These devices are mostly employed in Intensive Care Units (ICUs), neonatal care centers and ambulances to relieve respiratory distress and initiate lung healing. These ventilators are widely used in the treatment of hypoxemia, apnea, acute lung injury and chronic obstructive pulmonary disease (COPD).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Mechanical Ventilators Market Trends:
The global market is primarily driven by the rising incidences of chronic respiratory disorders. This can be attributed to the growing geriatric population, rising pollution levels and the increasing number of smokers across the globe. The rapid outbreak of the novel coronavirus disease (COVID-19) has also created an escalating demand for mechanical ventilators on the global level. A sudden spike in COVID-19 cases has significantly increased the number of critical patients who require intensive care for life support. Since the virus is known to damage the lungs in severe active cases, which further causes the body’s oxygen levels to drop, thus making it difficult to breathe, ventilators are extensively used to alleviate the critical conditions and restore regulated breathing. Apart from this, the surging demand for these devices in the wake of the pandemic has led several non-medical enterprises to collaborate with ventilator manufacturing companies in an effort to meet the ever-increasing demand. Furthermore, product innovations and extensive research and development (R&D) have led to the introduction of portable and non-invasive mechanical ventilators with improved functionalities, which is acting as another major growth-inducing factor. Manufacturers are also integrating high-speed signal processing systems with these devices to achieve enhanced efficiency with an enhanced user interface. Some of the other factors contributing to the market growth include the growing adoption of home care therapeutics and the favorable initiatives undertaken by several governments to improve the healthcare infrastructure. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.3% during 2021-2026.
Market Summary:
Competitive Landscape:
Breakup by Product Type:
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Breakup by Mode of Ventilation:
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