Medical Ventilators Market is expected to exhibit a CAGR of 8.7% during the forecast period 2020-2030 – Market Research Blog

The increase in the number of severe cases of the life-threatening novel coronavirus (COVID-19) has significantly increased the demand for ventilators. The strong focus of manufacturers and governments to produce more ventilators is expected to drive market growth during the forecast period (2020-2030). The increasing demand for affordable and portable medical ventilators creates a huge opportunity for players in the global medical ventilators market to differentiate their products from the competition and expand their business.

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The continued focus on the development of portable and low-cost medical ventilators and the rapid spread of coronavirus worldwide are expected to drive the growth of the global medical ventilators market.

Key Takeaways to Study the Ventilators Market

  • Critical care ventilators sales contributed the maximum share of the total market value, due to the increasing use in critical care areas of hospitals and other care areas as well.
  • The extensive use of ventilators in the management of chronic respiratory failure is expected to lead to a significant segment share in the ventilator market.
  • The hospital remains the number one end user contributing more than 38% of the total demand, in line with the high quality clinical care and the increasing number of patients with respiratory diseases.
  • North America accounted for a notable revenue share of around 30% and is expected to be the most profitable region for ventilators market during the forecast period.
  • Increased government funding to boost the growth of the medical industry in Asian countries is expected to lead to the growth of the medical ventilator market in the region.

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Ventilators Market Analysis by End User (2019a)

Increasing production capacity – an inevitable strategy for market players

Manufacturers are now focusing on boosting ventilator manufacturing capacity to meet urgent global demand due to the coronavirus pandemic. For example, companies like Medtronic, Koninklijke Philips NV, GE Healthcare and Getinge AB are now ramping up ventilator production by 40%-60% to supply respirators in response to the urgent need worldwide to tackle COVID-19.

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What does the report cover?

Future Market Insights presents a unique perspective and actionable insights into the Medical Ventilators Market in its latest studies, providing an assessment of historical demand from 2015-2019 and forecasts from 2020-2030 based on product (critical care ventilators and transportation ventilators), by technology (ventilators). Invasive, non-invasive ventilator), by end-user (hospitals, ambulatory surgical centers, long-term care centers, and home care settings) in seven major areas.

For additional insights into how the ventilators market has evolved over the course of the show, write to [email protected]

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