Ventilators Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

 

Ventilators Market

Some of the important factors that could support the growth of the global ventilators market include rising incidences of chronic and infectious diseases, an ageing population, an increase in preterm births, an increase in the number of ICU beds, changing technologies for neonatal care, and the arrival of the COVID-19 pandemic.

Ventilators are highly sought after in markets all around the world. These devices are the most frequent forms of supportive care for critically ill patients, and this is related to an increase in COVID-19 instances that induce an acute respiratory infection with pneumonia. By giving important organs oxygen in the bloodstream, they aid or replace breathing.

The Ventilators Market is expected to grow greatly in the upcoming years as a result. Some technological developments that can aid in the market's expansion include hybrid respiratory systems, helmet-based, wireless networking, 3D printing, and high-performance turbine-based ventilators.

The most significant driver driving the Ventilators Market throughout the projected period will be the launch of COVID-19. In response to rising COVID-19 instances, respiratory illnesses, and developing technologies, new ventilator solutions have entered the market. For instance, Philips boosted the manufacture of the Philips Respironics E30 ventilator in April 2020 with a goal of producing roughly 15,000 units weekly to accommodate the growing global demand brought on by the pandemic.

Both non-invasive and invasive ventilation on the market will have their air-to-oxygen support ratio corrected by the ventilator using patented methods and algorithms.

Governments from all over the world are investing heavily in this sector to expand the number of ventilators in healthcare institutions. For $489.4 million, General Motors and the government agreed to produce 30,000 ventilators in April 2020 to meet hospital demand during the coronavirus pandemic. A $336 million federal deal between General Electric and Ford Motor Company calls for the production of 50,000 ventilators for the American government.

The emergence of the COVID-19 pandemic, rising geriatric population, rising incidence of chronic and respiratory disorders, and development of novel ventilator technologies are projected to propel the global Ventilators Market during the forecast period. The majority of chronic diseases mostly afflict the more than 720 billion persons over 65 in the world. Many chronic disorders that require urgent care are treated with ventilators.

By 2050, the number of elderly people is anticipated to double. Globally, the prevalence of chronic respiratory disorders like COPD is rising; in fact, approximately 550 billion individuals around the world are estimated to have COPD, according to study done in the UK. In 2019, it ranks as the third most frequent cause of death.