In a recent published report, Kenneth Research has updated the market report for Ventilator Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Ventilator Market products.
Kenneth Research has recently added a report titled Ventilator Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The global Ventilator Market was valued at USD 687.89 million in 2016 and is projected to reach USD 1,346.71 million by 2025, growing at a CAGR of 7.75% from 2017 to 2025.
The ventilator market is driven by some key factors, major lifestyle changes and increased tobacco consumption, also increasing geriatric population being some of them. The market has increasing values in market trend all over the globe.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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1. Market Drivers
1.1 Increasing Cases of Respiratory Diseases
1.2 GrowingGeriatric Population
1.3 Increasing Preterm births
1.4 Urbanization and Growing pollution
1.5 Increased tobacco consumption
1.6 Major lifestyle changes
2. Market Restraints
2.1 Reimbursement Risks
2.2 Risks associated with Mechanical ventilator
2.3 Resistance from Traditional Medical Practitioners
2.4 Availability of Alternatives at cheaper cost from local manufacturers
1. Global Ventilator Market, by Age Group:
1.1 Infant/Neonatal Ventilator
1.2 Adult/Pediatric Ventilator
2. Global Ventilator Market, by Type:
2.1 Portable/Transportable Ventilator
2.2 Intensive Care Ventilator
3. Global Ventilator Market, by Mode:
3.1 Pressure-Mode Ventilation
3.2 Volume-Mode Ventilation
3.3 Combined-Mode Ventilation
4. Global Ventilator Market, by Interface:
5. Global Ventilator Market, by End User:
5.1 Hospitals and Clinics
5.2 Home Care
5.3 Ambulatory Care Centers
6. Global Ventilator Market, by Region:
6.1 North America (U.S., Canada, Mexico)
6.2 Europe (Germany, UK, France, Rest of Europe)
6.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
6.4 Latin America (Brazil, Argentina, Rest of Latin America)
6.5 Middle East & Africa
The major players in the market are as follows:
1. Philips Healthcare
2. Resmed, Inc.
3. Medtronic Public Limited Company
4. Becton, Dickinson and Company
5. Drager Group
6. Smiths Group PLC
7. Getinge Group
8. Teleflex Incorporated
9. Hamilton Medical AG
10. GE Healthcare
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Ventilator Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
To know more about the research methodology of verified market research and other aspects of the research study, kindly get in touch with our sales team.
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