Temporary Power System for Medical Ventilator Market: Introduction
- Power systems play an important role in ensuring reliable and uninterrupted power supply for hospitals and other health care facilities. These systems enable hospitals to function at their usual pace even during emergency situations such as power blackouts and natural calamities. It is necessary for every health care center to install temporary power solutions such as generators in order to ensure the reliability of operations.
Key Drivers of Temporary Power System for Medical Ventilator Market
- Of late, the demand for ventilators has been rising significantly due to the onset of the coronavirus pandemic across the world. For instance, in March 2020, Phillips announced plans to increase the production capacity of critical health products, including ventilators, from 1000 units per week to 2000 units per week. The ventilator system consists of a flexible breathing circuit, control system, monitor, air handling unit, and alarm. The ventilator system needs an uninterruptible power supply to operate smoothly and continuously. Thus, surge in demand for continuous and reliable supply of electricity to ensure the proper and smooth functioning of the medical ventilation system is expected to drive the global temporary power system for medical ventilator market.
- Rise in prevalence of respiratory diseases (such as asthma and COPD), rapid growth in the geriatric population, and increase in number of preterm births are some of the key factors that are expected to propel the global temporary power system for medical ventilator market during the forecast period. High prevalence of unhealthy lifestyle habits (including smoking), rapid urbanization, and growth in pollution levels are some of the factors driving the number of cases of respiratory and cardiovascular diseases.
- Technological advancement in design of portable power systems to optimize their operational efficiency is anticipated to boost the temporary power system for medical ventilator market in the near future
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Generator Type Segment Expected to Hold Major Share of Global Market
- The global temporary power system for medical ventilator market can be segmented based on type and region
- In terms of type, the global temporary power system for medical ventilator market can be divided into generator, UPS, and others. Generator is one of the extensively used power generation systems in the temporary power system for medical ventilator market. It is easy to operate and requires low maintenance. Furthermore, it is portable and cost efficient.
- In September 2019, Himoinsa, a subsidiary of Yanmar Group, that manufactures and distributes power generation equipment, announced plans to open a new sales office in Morocco, Africa. This move is estimated to strengthen the company’s presence in Africa.
North America Expected to Hold Major Share of Global Temporary Power System for Medical Ventilator Market
- In terms of region, the global temporary power system for medical ventilator market can be segregated into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- North America dominated the global temporary power system for medical ventilator market in 2018. This trend is anticipated to continue during the forecast period. Growth of the market in North America can be ascribed to the increase in investments in designing of medical ventilators and rise in number of cases of corona pandemic in the region.
- In March 2020, Hamilton Medical, a subsidiary of Hamilton, a U.S.-based biotech company, increased production capacity of ventilator devices by 50% compared to the previous year. The company aims to double its production capacity by the end of April 2020.
- The temporary power system for medical ventilator market in Asia Pacific is projected to expand at a fast-paced CAGR during the forecast period owing to the exponential growth in aging population in the region
- The temporary power system for medical ventilator market in Europe is likely to expand at a moderate pace during the forecast period due to technological innovation in design of temporary power systems
- The temporary power system for medical ventilator market in Latin America and Middle East & Africa is expected to expand at a sluggish pace during the forecast period. Increase in demand for continuous power supply to medical ventilators is anticipated to propel the demand for temporary power system for medical ventilators in these regions.
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Key Players Operating in Global Market
Leading companies operating in the global temporary power system for medical ventilator market include:
- Makvolt Power
Global Temporary Power System for Medical Ventilator Market: Research Scope
Global Temporary Power System for Medical Ventilator Market, by Type
Global Temporary Power System for Medical Ventilator Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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