Global Mechanical Ventilators Market: Key Highlights
Global Mechanical Ventilators Market: Key Market Dynamics
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Global Mechanical Ventilators Market: Regional Overview
North America is anticipated to dominate growth in mechanical ventilators market during the forecasted period. This has attributed due to the preference for reduced hospital stay timeframe of patients & improved patients experience, and increased prevalence of chronic obstructive pulmonary disease (COPD) in the region. According to World Health Organization (WHO), the region has reported prevalence of 251 million cases of COPD in 2016. Moreover, the soaring critical cases of COVID-19 patients in the US have expected to provide a significant demand for mechanical ventilators in the region.
Asia Pacific is anticipated to witness largest growth in mechanical ventilators market during the forecasted period owing to the increasing COVID19 cases, rising healthcare expenditure, chronic respiratory diseases, and various collaborations and strategic agreements. For instance, Air Liquide, in 2017, acquired OxyMaster and Sogo Sangyo Kabushiki Kaisha to expand the household healthcare product portfolio across the Asia-Pacific. Additionally, increasing development of infrastructure, and healthcare policies promoting better care provided to individual will further anticipate to growth of product market.
Global Mechanical Ventilators Market: Key Players Overview
GENERAL ELECTRIC COMPANY is one of the global leader in medical technology and life science. The company offers broad portfolio of product, solution, and services used in the diagnosis, treatment and monitoring of patients and in the development and manufacture of biopharmaceuticals. GENERAL ELECTRIC COMPANY has global presence in more than 160 countries. In 2018, the company invested USD 1 billion in research & development different product. In March 2020, the company partnered with Ford Motor Company to produce ventilators. This strategic move will help to address the growing challenge of COVID-19 thereby, increasing the business growth.
ZOLL Medical Corporation is a US-based company engaged in developing and marketing medical devices and software. The company operates in hospital, military, homeland security, EMS & fire, remote patient’s management, and non-acute care market. In March 2020, ZOLL Medical Corporation has executed a plan to increase manufacturing capacity of ventilators to 10,000 per month. This production volume expansion will help to cater the ongoing demand for ventilators due to COVID-19 and will ultimately lead to its market expansion.
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