Impact of COVID-19 on Economy, Industry and Company :
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The Global Portable Ventilator Market was valued at US$ XX Bn in 2019 and is expected to exhibit a CAGR of 27.5 % to reach the market value of US$ 23.34 Bn till 2028.
Portable ventilators are the machines that are employed to carry room air or gas which is enriched with oxygen into the breathing circuit linked to the patient. The portable ventilator is a small and lightweight machine that is fit to operate in required circumstances and assists the sufferers to breathe well. Portable ventilators are greatly useful in the treatment of patients dealing with illnesses like pneumonia, or throughout multiple casualty conditions. Portable ventilators have extensive uses in areas including hospitals, polyclinics, and ambulances.
Growing respiratory diseases due to pollution, smoking and fatal illnesses are driving the portable ventilators market
The portable ventilators market has been mainly impelled by circumstances such as an increasing number of patients dealing with respiratory disorders, chronic obstructive pulmonary disorders, pneumonia accompanied by the growing number of congestive heart failure incidents across the world. The rising number of tobacco consumers and rising pollution levels are giving rise to respiratory disorders, which results in the growing demand for portable ventilators.
Moreover, rising number of Covid-19 infected patients across the globe is anticipated to surge the demand for these ventilators. The outbreak of coronavirus has resulted in huge demand for medical equipment used in ICUs. The prominent players are engaged in developing low-cost portable ventilators to make it affordable for customers from different economy class. For instance, in April 2020 a Chennai based startup KritiLabs Technologies announced that they have designed a low-cost ventilator to cater to the future demand. The ventilator operates through a microprocessor and able to fine-tune the oxygen level as per the doctor’s prescription issued for corona patients.
Additionally, increasing acceptance of portable ventilators in circumstances like multiple causality situations and respiratory emergencies are expected to upsurge the demand for portable ventilators in near upcoming years. In addition to this, the increasing usage of portable ventilators while surgical procedures as extra support for the patients is expected to impel the expansion of portable ventilators market. Besides, the increasing installation of portable ventilators in the ambulance is also forecasted to spur the development of the global portable ventilators market.
Furthermore, technical improvements with portable ventilators have made these portable ventilators more suitable in healthcare facilities. Increasing employment of portable ventilators in pediatrics, aeromedical, domiciliary ventilation, invasive ventilation and non-invasive ventilation are projected to boost the development of portable ventilators market.
Complexities Associated With These Ventilators Might Hamper the Market Growth
However, the difficult operation of portable ventilators is the main task that is expected to impede the growth of portable ventilators market in forthcoming years. Additionally, the accessibility of economical portable ventilators provided by local vendors is also estimated to reduce the expansion of portable ventilators market during the evaluation period.
The homecare subdivision is expected to exhibit highest growth rate
North America is projected to lead the global portable ventilators market for the interval of the projection period
The North American region has been the preeminent regional market for portable ventilators and is anticipated to observe this supremacy over the projection period. Besides, the huge approval rate of high-level technology, as well as the accessibility of portable ventilators with enhanced safety measures, is some of the effective constituents that are expected to drive the expansion of portable ventilators market in this region.
North America is trailed by the European region, which is having the uppermost hospitalization degree. It holds the 2nd place as a result of the growing intensive care units i.e. (ICUs). Moreover, the European region is anticipated to propagate at a satisfying speed in the course of the assessment period on account of factors such as rising healthcare businesses and growing investment in healthcare expenses in this region.
The Asia Pacific region is also expected to witness noteworthy growth for the duration of the assessment period. This development of portable ventilators market can be accredited to factors such as growing population, accelerated growth of developing nations and rising demand for homecare ventilators in the APAC region.
Key players functioning in the global portable ventilators 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.
Global Portable Ventilator Market, by Product
- Portable Gas Powered Ventilators
- Microprocessor Controlled Ventilators
Global Portable Ventilator Market, by Mode
- Pressure Mode Ventilation
- Volume Mode Ventilation
- Combined Mode Ventilation
Global Portable Ventilator Market, by Interface
- Non-Invasive Ventilation
- Invasive Ventilation
Global Portable Ventilator Market, by Age Group
- Infant/Neonatal Ventilator
- Adult/Pediatric Ventilator
Global Portable Ventilator Market, by Application
- Domiciliary Ventilation
Global Portable Ventilator Market, by End User
- Rehabilitation Centers
Global Portable Ventilator Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa