According to a new market research report published by sheer analytics and insights, “The Global Mechanical Ventilators Market was valued at $6.89 billion in 2020. Growing at a high CAGR of more than 6.1% between 2021 and 2031, it is estimated to reach $13.4 billion by 2031, as per the latest market research report titled Mechanical Ventilators Market – Industry analysis, size, share, growth, trends, and forecast, 2021 – 2031.
The high incidences of COVID-19 cases have led to a huge gap between supply and demand of the mechanical ventilators to such an extent that the automotive and the other industrial equipment manufacturers have to step in so that the supply of these life-saving devices can be increased. Mechanical ventilators like the life support equipment are important to manage chronic conditions like COPD, Post-operative care, respiratory failure will accelerate the growth of this market during the forecasted period.
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The primary key players in Mechanical Ventilators Market include Getinge AB, Vyaire Medical Inc., Medtronic, Drägerwerk AG & Co. KGaA, GE Healthcare, Koninklijke Philips N.V., Smiths Group plc, Hamilton Medical, ResMed Inc., Ventec Life Systems.
The Global Mechanical Ventilators Market Has Been Segmented Into:
- Critical care
- Transport & portable
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- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America, Middle East & Africa
- South Africa
- Rest of LAMEA
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