Covid-19 to put the Ventilators Market Out of “Ventilator”?
Date : Sep 24, 2020 Author : PMR Editorial Staff Category : Healthcare
As per Persistence Market Research, the global ventilators market is expected to stand in the best stead between 2020 and 2030.
Ventilators come into picture when improper respiratory tract needs to be addressed to. There are hoards of them to lay hands on, viz neonatal ventilators, critical care ventilators, transport ventilators, portable ventilators, positive pressure mechanical ventilators, and negative pressure mechanical ventilators. The last two types are based on the way oxygen gets delivered into lungs. These days home care using ventilators is also possible, especially taking into consideration the patients who need them at the fag end of their lives.
The Most “Happening Ventilators”: Mechanical Ventilators
Mechanical ventilators are preferred for geriatric population who needs them in the long run. The ever-increasing incidences of COPD is driving the use of these life support systems. As such, the mechanical ventilators market is expected to grow voraciously in the years to come.
With mechanical ventilators comes acute hospital bed and stretchers market growing at a stellar rate. Those who need ventilators for long drive the demand for acute hospital bed and stretchers market. Besides, it’s important to have ventilator test systems market in place, so as to not adversely affect the patients’ treatments due to any disruption. They are designed such that oxygen, nitrous oxide, and pressure are measured in ventilators. They are capable of testing oxygen concentrators and gas delivery machines as well and are battery-operated, expected to witness a CAGR of more than 4% between 2020 and 2030.
How about Portable life support devices?
Portable ventilators fall in the category of portable equipment that manage the respiratory system. The growing incidences of life-threatening disorders are driving the demand for portable life support devices market. At the same time, the complexities regarding their operations need to be monitored. Plus, the high cost involved may prove to be detrimental to the growth of ventilators market.
Impact of Covid-19 on Ventilators Market
The outbreak of Covid-19 has resulted in an all-time increase in demand for ventilators as the pandemic affects respiratory system on direct basis. Though lockdowns have resulted in slowing down the production due to scarcity of raw materials, the market is, by any means, not expected to recede, as the demand keeps on soaring.
North America accounts for the largest market share due to sizable population suffering from critical ailments that need ventilators. Europe comes in second. Asia-Pacific is expected to grow at the fastest rate, especially after Mar 2020 due to the ongoing pandemic. Moreover, the awareness regarding ventilators has been increasing. Therefore, it could be inferred that the Asia-Pacific would be the principal revenue generator with regards to ventilators market further.
The key players in the ventilators market include Airon Mindray, Air Liquide, Becton, Dickinson and Company, Medtronic, Drager, Fisher & Paykel, Allied Healthcare Products, Schiller, and Getinge.