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Global Portable Ventilator Market it is anticipated to reach at market value of US$ 20.9 Bn by 2027
Bizizz Market Research has recently published a research report, “Portable Ventilator Market by Product (Portable Gas Powered Ventilators and Microprocessor Controlled Ventilators) by Mode (Pressure Mode Ventilation, Volume Mode Ventilation, and Combined Mode Ventilation) by Interface (Non-Invasive Ventilation and Invasive Ventilation) by Age Group (Infant/Neonatal Ventilator and Adult/Pediatric Ventilator) by Application (Aeromedical, Paediatrics, and Domiciliary Ventilation) by End-User (Hospitals, Clinics, Ambulances, Rehabilitation Centers, and Homecare) and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Portable Ventilator Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 20.9 Bn by 2027, witnessing a CAGR of 25.6 % during the forecast period. Key drivers of the market are R&D initiatives, spread of coronavirus pandemic across the globe, and rising number of respiratory diseases.
The global portable ventilator market is majorly driven by increasing ratio of lung diseases across the globe. Moreover, spreading coronavirus pandemic has resulted in a sudden upsurge in the demand for these ventilators at a global scale. The manufacturers of medical equipment has promised to produce portable ventilators at a larger scale which is expected to influence the market growth positively.
The Portable Ventilator Market Is Anticipated To Register A CAGR Of Over 25.6 % During The Forecast Period.
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By End-User, Home-care Segment is Projected To Exhibit Highest Growth Rate
Based on end-user, the home care segment is anticipated to witness highest growth in the course of the assessment period. The rising elderly population all over the world and growing demand for homecare medical devices are some of the key factors that are fueling the segment growth. Moreover, the increasing implementation rate of high-tech health care facilities is expected to favor the segment growth for the duration of the evaluation period.
North America Is Anticipated To Hold Prominent Share Followed by Europe During the Forecast Period
In terms of region, North America is anticipated to lead the global market over the forecast period. The region occupied 34.5 % share in 2018. The growth of the region can be attributed to rising expenditure on healthcare sector and early adoption of technology in developed continents such as the U.S. and Canada. Moreover, Europe accounted for the second highest market share in 2018. This is mainly due to rising prominence of intensive care units coupled with increasing ratio of critical surgeries and lung diseases.
The global market is fragmented with several global and local players. The players operating in global market are adopting several strategies intended to occupy large percentage of market share. The companies are continuously developing advanced products to gain technical competence.
Prominent players operating in the Global Portable Ventilator Market are: Hamilton Medical AG., Becton Dickinson and Co., Smiths Group PLC, Medtronic PLC, Trivitron Healthcare Pvt Ltd, Percussionaire Corp, Draegerwerk AG & Co KGaA, Koninklijke Philips NV, Teleflex Inc and ResMed Inc., among others.
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