Growing geriatric population worldwide along with rising need for home care therapeutics are expected to drive growth of global mechanical ventilators market
NEW YORK, NEW YORK, UNITED STATES, March 31, 2020 /EINPresswire.com/ — Growing geriatric population worldwide along with rising need for home care therapeutics are expected to drive growth of global mechanical ventilators market
According to TechSci Research report, “Global Mechanical Ventilators Market, By Mobility, By Interface, By Type, By Mode, By End Use, By Region, Competition, Forecast & Opportunities, 2025”, global mechanical ventilators market is expected to witness a robust CAGR during the forecast period. Rapidly growing cases of respiratory emergencies as well as chronic obstructive pulmonary disease is one of the major factor accounting for the growth of global mechanical ventilators market. Moreover, geriatric populations is increasing at an alarming rate which is further expected to bode well for the growth of global mechanical ventilators through the forecast period. In addition to this, new advanced techniques are being developed in terms of respiratory care devices, which in turn is expected to positively influence the growth of global mechanical ventilators market in the years to come. Also, the benefits offered by such devices such as cost-effectiveness, patient-friendly, and portability is making headway for the growth of global mechanical ventilators market. Along with this, surging initiatives by the governments of various developing economies is positively contributing to the market growth across the globe. However, there are some factors that can act as major impediments to the growth of global mechanical ventilators market through 2025 such as unsuitable reimbursement situation and resistance from physicians for technology transition. Also, the complications that are associated with the usage of ventilators, might hamper the market growth in the forecast years.
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Global mechanical ventilators market can be segmented based on mobility, interface, type, mode, end-use, company and region. Considering the mobility, the market is fragmented into intensive/critical care ventilators and portable/transportable ventilators. The portable/ transportable ventilators segment dominated the global mechanical ventilators market in terms of largest market share until 2019 and is further anticipated to maintain its dominance during the forecast period as well, which can be accredited to its high demand owing to certain advantages it offers such as user-friendly, low cost and flexible portable ventilators is driving the demand for portable/transportable ventilators. Additionally, the effectiveness and its variety of applications in numerous care delivery settings ranging from home care to ambulatory centers is further anticipated to aid the growth of the segment until 2025. In terms of interface, the market is fragmented into invasive ventilation and non-invasive ventilation. Out of which, the invasive ventilation segment is projected to grow at a high pace during the forecast period which can be accredited to its growing applications in respiratory diseases, sleeping disorders and neurological diseases
Acoma Medical Industry Co. Ltd., Carefusion Corporation, Medtronic, Draeger Medical GmbH, GE Healthcare, Macquet GmbH & Co. KG, Philips Respironics Inc., Smiths Medical, Teleflex Inc., Becton, Dickinson and Company, Carl Reiner Gmbh, Hamilton Medical AG, Getinge AB, Mindray Medical International Limited, Koninklijke Philips N.V., ZOLL Medical Corporation, Allied Healthcare Products, Inc., Schiller Healthcare India Pvt. Ltd., Fisher & Paykel Healthcare Limited are among others are the leading players operating in global mechanical ventilators market. The leading players are adopting several growth strategies to enhance the market for mechanical ventilators. Other competitive strategies include product launches, mergers & acquisitions, agreements, partnerships, and collaborations and expansions to diverse their product portfolio in order to strengthen their market position.
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“North America is forecast to dominate the global mechanical ventilators market over the course of next 5 years on account of presence of presence of major market players in the United States. Moreover, high prevalence of smoking coupled with high expenditure in healthcare system is also contribute to the growing trend. Furthermore, Asia-Pacific region is anticipated to register high growth until 2025 due to surging cases of chronic respiratory diseases and improved healthcare policies promoting better care provision. Additionally, beneficial government initiatives in terms of providing tax benefits is further boosting the market growth in Asia-Pacific region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Mechanical Ventilators Market, By Mobility, By Interface, By Type, By Mode, By End Use, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global mechanical ventilators market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global mechanical ventilators market.
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Source: EIN Presswire