Global Ventilator Market Forecast to 2025
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Global Ventilator Market was valued at USD 1198.54 Million in the year 2019. Escalating number of cases related to Respiratory and Lungs Diseases with growing prevalence of COPD, Strokes supported by ever growing geriatric population and companies investing heavily in incorporating advanced technology in order to offer high quality, latest technology products to hospitals and healthcare units with growing transmission of coronavirus across the world has been anticipated to infuse growth in the market for Ventilators during the forecast period of 2020-2025.
Under the Mobility segment, Intensive Care ventilators are anticipated to witness the largest market share owing to growing availability of different types of ventilators primarily made for hospital use clubbed with manufacturers collaborating with hospitals and doctors to better understand their demand and meet their requirements. Also, surging number of coronavirus patients will be pushing growth in the market for ventilators during the coming years.
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Invasive Ventilators, followed by Non Invasive, and Hospitals attained substantial market share under Interface and End User segment respectively, chiefly on the back of burgeoning demand for ventilators from hospitals which are engaged in treating COVID19 patients. Further, companies from different industries entering the ventilators market in order to meet the unprecedented demand for ventilators coupled with government partnering up with manufacturers to provide ventilators to hospitals and healthcare units has been forecasted to supplement the market growth in the coming years.
Among the regions, North America, followed by Europe and Asia Pacific, will experience remarkable market share owing to presence of various leading global manufacturers in the region with companies ramping up their production capacity and sky rocketing number of coronavirus patients in United States supported by investment in expanding product portfolio by manufacturers to offer various types of ventilators to users, will facilitate market growth during the forecast period.
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