The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Ventilators Global Market Report 2023, the ventilators market is expected to show significant growth in the forecast period.

Key insights from the ventilators market forecast include:

1. Market Size

The global ventilators market is expected to grow from $4.12 billion in 2022 to $4.55 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The market size of the global ventilators is expected to grow to $6.70 billion in 2027 at a CAGR of 10.2%.

2. Major Driver

The rising prevalence of respiratory diseases is driving the ventilators market. Chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections and other causes will boost the demand for ventilators. The ventilators are respiratory devices that are used to support respiration in patients with chronic respiratory diseases. For instance, as of December 2020, 67.9 million COVID-19 cases were reported. Coronavirus infects the lungs causing pneumonia and other respiratory disorders affecting patients’ respiration. The emergence of such infectious diseases resulting in a pandemic is driving the ventilator market growth.

View More On The Ventilators Market Report 2023 – https://www.thebusinessresearchcompany.com/report/ventilators-global-market-report

3. Key Trend

Ventilator manufacturers are scaling up their production capacities in response to the surge in demand during the COVID-19 pandemic. COVID-19, caused by a respiratory virus, often leads to severe pneumonia and lung complications, necessitating ventilator assistance for breathing. For example, Medtronic, a prominent medical device company, ramped up its ventilator production by 40% in March 2020. Similarly, Philips aimed to quadruple its ventilator production capacity in the same month to address the increased need.

4. Largest Region

Asia-Pacific was the largest region in the ventilator devices market in 2022.

5. Major Players

Major players in the ventilator devices market are Philips Healthcare, ResMed, Medtronic, Becton, Dickinson, and Company, GE Healthcare, Hamilton Medical, Dräger, Getinge, Smiths Group, and Fisher & Paykel.

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Key Ventilators Market Segments
The global ventilators market is segmented –
1) By Type: Intensive Care Unit/Critical Care, Transport/Portable/Ambulatory, Neonatal
2) By End-User: Hospitals and Clinics, Home care, Ambulatory Care Centers, Other End Users
3) By Interface: Invasive, Non-Invasive

The Ventilators Global Market Report 2023  provides an in-depth analysis on the ventilators market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the ventilators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Respiratory Devices And Equipment (Therapeutic) Global Market Report 2023
Respiratory Disposables Global Market Report 2023
Respiratory Devices And Equipment (Therapeutic And Diagnostic) Global Market Report 2023

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