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I AgreeMultiple factors are leading to increase in demand for ventilators. Some of the include increased focus on intensive care and rapidly rising population of geriatric population worldwide. To compound the situation further is increase in chronic diseases. As the world sees failing health owing to lifestyle changes and demographics shift, market for ventilators chart an upward growth.
Therefore, it is easy to see why the global market for ventilators is expected to grow at an impressive CAGR (Compound Annual Growth Rate), translating to a good generation of market opportunities over the forecast period of 2019-2027.
The global ventilators market is undergoing critical developments in its landscape. It is setting the tone for future competition as well as paving the road to growth over the forecast period.
The global ventilators market is slightly fragmented and key players in the market landscape include Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Getinge (Sweden), Dräger (Germany), Smiths Group (UK), Hamilton Medical (Switzerland), GE Healthcare (US), Fisher & Paykel (New Zealand). In order to maintain competitive edge, players enter strategic collaborations work towards product development.
The global ventilators market is set to grow on an upward trajectory, due to factors such as rise in pre-term births and rise in ageing population. Some of these are explained below
One of the most lucrative regions in the world in terms of market growth is Asia Pacific Region Excluding Japan (APEJ). And, this trend is set to continue throughout the forecast period of 2019-2027. This significant growth in the global ventilators market owes to rise in older demographics, increase in chronic diseases, cardiovascular diseases and respiratory diseases. To add to this, the governments in this region are proactive. They are focusing their efforts and investments at improving health care outcomes.
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