Product Code: RP-ID-10059357 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10059357
Market Overview:
Global Ventilator Market Outlook 2030
The global ventilator market is estimated to be valued at ~USD 8 billion in 2021 and is projected to foster at a CAGR of ~5% from 2022 to 2030. Demand is expected to rise sharply due to the unprecedented COVID-19 outbreak. Mechanical limitations of the fan. According to the Society of Intensive Care Units, the current state of air conditioning in the United States is expected to reach approximately 160,000 units in the first quarter of 2020. An additional 12,700 units are available from the National Strategic Inventory (SNS) in tragic circumstances. According to the American Respiratory Care Association, there were more than 6.1 million active cases of COVID-19 in August 2020, and approximately 960,000 Americans need mechanical help to breathe during an outbreak. As a result, fan demand increased in 2020.
Mitigation measures taken by governments and manufacturers to alleviate the lack of initial preparedness for an outbreak have led to a rapid introduction of ventilators. However, due to the manufacture of a Covid-19 vaccine and effective treatment options to treat mild to moderate symptoms of infection, the coronavirus surge is expected to peak in mid-2021 or 2022.
In addition, public awareness and physical distancing measures reduce coronavirus infection and limit the spread of the epidemic, and governments in many countries are taking strict measures, including social distancing. As a welcome, the US Food and Drug Administration has temporarily waived its application and testing requirements, allowing manufacturers across the industry to produce the parts they need for ventilators and more. intensive care unit.
Friendly and timely government regulation is expected to pave the way for market growth in the next fiscal year. For example, the impact of growth during the forecast period, increasing incidence of COPD, rapid population growth, innovation and increased ventilator respiratory distress are the key market drivers during the forecast period. The demand for long-term care centers is expected to increase as the long-term ventilation needs of the elderly are driven by the development of affordable and affordable mobile devices. A term for chronic respiratory disease. The growing need for long-term emergency care in children and adults and long-term care for lung diseases is expected to fuel the market growth.
PRODUCT DESCRIPTION:
Due to the high number of hospitalizations and facilities in ICU, ICU ventilators led the market by 38% in revenue. ICU ventilators are mainly used in intensive care units in hospitals. The market is growing owing to the diversified demand for portable transport equipment and ventilators from different health care providers, and the growing number of hospitals is expected to sustain sustainable growth over the forecast period.
Portable ventilators and ventilators have a wide range of uses, from home care to outpatient centers. The growth of the home care market and the rise in first aid are the major growth drivers for this segment. From ambulances to hospital beds, hospitals are encouraging the use of portable ventilators to provide convenient and timely patient care. Portable ventilators are gaining popularity as they force patients to undergo home care.
Developments in this area are expected to lead to the development of small, high-performance, ultra-small and powerful fans by improving production systems and technologies.
The growth of the neonatal population is influenced by increases in the birth rate and reproductive age of women in different castes. Rising preterm births along with rising neonatal mortality and respiratory diseases are expected to propel the growth of the neonatal market going forward.
About 15 million premature births occur each year, some of which are fatal. Ventilation accessories include breathing circuits, endotracheal tubes, ventilators, exhalation valves, dehumidifiers, and more.
REGIONAL OUTLOOK:
North America dominates the ventilation market with the largest sales share of 58% in 2020. These benefits increase the number of COVID-19 patients in the United States (4,813,647 as of August 3, 2020) to major producers. Also, US auto giants like Tesla, Ford, and General Motors are looking for medical devices such as masks, ventilators and other medical devices.
This trend is expected to drive significant growth in the regional market in the next fiscal quarter. In Asia Pacific, the market is expected to grow significantly during the forecast period owing to the increasing number of COVID-19 cases, chronic respiratory diseases, rising healthcare costs, and various strategic partnerships and arrangements.
For example, in 2017, it acquired Air Liquide Oxymaster and Sogo Sangyo Kabushiki Kaisha to expand its home care product portfolio in the Asia Pacific region.
Growth in the region has contributed to the development of health infrastructure and policies. Increasing lifestyle habits such as smoking and changes in genetic susceptibility to accelerate the onset of respiratory diseases are driving the market growth. Chinas five-year plan after 2016 includes a series of health care reforms to support market expansion in the region. According to various economic reports, per capita health care costs in continental developing countries will increase over the next 7 years and bring beneficial benefits to the market.
KEY BUSINESS PROSPECTS AND MARKET SHARES:
The following manufacturers are preparing to double their production capacity to meet global demand and survive the COVID-19 outbreak. From 30.0% to 40.0% we currently produce around 80 mechanical fans per day.
The company shipped around 400 fans to Italy in March 2020, and Italian fan manufacturer Mobile International Engineering Group is working with 25 military engineers to provide mechanical ventilation for homes. Automakers offer their own assembly lines for the production of fans. For example, Tesla, Medtronic, General Motors, and Ventec Life Systems are working together to produce fans.
The market is becoming saturated as many manufacturers are currently ramping up production capacity to meet demand and have many fans available after the COVID-19 situation. However, with the increasing prevalence of chronic diseases, intensive care units such as air conditioners will be in demand in the next few years. Also, as technology advances, the demand for affordable high-end fans is expected to increase during the forecast period. The major players in the global Respiratory System market are: Get ABMDtronicWireMedical Inc. Draegerwerk AG & Co., Ltd. KGA Royal Philips NV Hamilton Medical GE Healthcare Smith Medical.
SECTIONS REPORTED IN THE REPORT:
This report forecasts revenue growth globally, regionally and nationally and provides an analysis of the latest industry trends in each sub sector from 2022-2030. In this study, Kenneth Research has reported on the global market for Fans by product and product. Region: Product Forecast (Revenue, $1 Million, 2022-2030).
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