Burlingame, Feb. 09, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global mechanical ventilators market is estimated to be valued at US$ 5,124.2 in 2022 and is expected to exhibit a CAGR of 6.7% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Mechanical Ventilators Market:
The adoption of inorganic strategies such as product approval by regulatory authorities such as the Pharmaceuticals and Medical Devices Agency is expected to drive the global mechanical ventilators market over the forecast period. For instance, in April 2020, NIHON KOHDEN CORPORATION, a medical device company, announced that they had received approval from the Pharmaceuticals and Medical Devices Agency for the production and marketing of the NKV-550 series ventilator in Japan. NKV-550 series ventilator provides all the essential capabilities required by clinicians for ventilating adult, pediatric and neonatal patients.
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Key Market Takeaways:
The global mechanical ventilators market is expected to exhibit a CAGR of 6.7% during the forecast period due to the adoption of inorganic strategies such as acquisition by the key market players. For instance, in June 2020, Inspiration Healthcare Group plc, a medical technology company, announced that they had acquired SLE, a provider of ventilation products. This acquisition will enhance and broaden the Group’s product portfolio.
Among product type, critical care mechanical ventilators is expected to hold the dominant position in the market due to increasing product approvals by regulatory authorities such as the European Commission over the forecast period. For instance, in May 2021, CorVent Medical Inc., a medical device company, announced that they had received CE Mark approval from the European Commission for RESPOND-19, a critical care mechanical ventilator, which is designed for the expansion of critical care ventilation capacity that helps to improve treatment of critically ill patients suffering from acute respiratory distress syndrome.
Competitive Landscape:
Key players operating in the global mechanical ventilators market include Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Getinge AB, General Electric Company, Hamilton Medical, Medtronic, ICU Medical, Inc., Dragerwerk AG & Co. KGaA, ZOLL Medical Corporation, Koninklijke Philips N.V., VYAIRE, Fisher & Paykel Healthcare Limited, ResMed, Max Ventilator (A.B.Industries), NIHON KOHDEN CORPORATION, Inspiration Healthcare Group plc., CorVent Medical Inc., Inovytec, InnAccel Technologies Pvt Ltd., and OES Medical
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Market Segmentation:
- Global Mechanical Ventilators Market, By Product Type:
- Critical Care Mechanical Ventilators
- Neonatal Mechanical Ventilators
- Transport and Portable Mechanical Ventilators
- Global Mechanical Ventilators Market, By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Global Mechanical Ventilators Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Regions
- South Africa
- Central Africa
- North Africa
- By Country/Regions
- North America
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
