The global ICU Ventilator Market is forecast to reach USD 3.70 billion by 2030, according to a new report by Reports and Data. The ICU Ventilator market is witnessing a drastic increase in demand owing to the growing incidence of patients suffering from COVID-19. The number of cases are growing rapidly and the hospitals currently does not have enough for the patients that need them. Increase in the number of ICU beds and rise in geriatric population are propelling the demand of the market. The elderly and the ones with respiratory diseases are highly susceptible to the virus.

The global manufacturers are under lot of strain to manufacture large number of medical ICU Ventilators, they are sophisticated devices used by the critically ill. The factors driving the market are high incidence of chronic disease among children, and prevalence of heart diseases and respiratory problems. The worsening of pollution internationally is also impacting the market. Advancement in technology and advent of cost-effective, patient-friendly, and portable devices are further encouraging their usage. Moreover, supportive government policies in developing nations like India, and China are focusing on cost-efficient solutions to provide flexibility in patient care.

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Further key findings from the report suggest,

• The adoption of the non-invasive ICU Ventilator is due to the increasing acceptance of the therapeutic method that has contributed significantly to the development of respiratory medicine over the past few decades.
• Increase in the geriatric population has propelled the demand of the market product as the elderly are more prone to respiratory disorders along with heart diseases and low immune system.
• The demand in North America is due to the increasing number of patients affected by COID-19 in the U.S. The government is shelling out top dollars to meet the required demand of the ICU Ventilators in the hospitals and are still falling short.
• In the year 2019, 77,000 new ICU Ventilators were quite enough to fulfill the demand of the entire planet. In April 2020, the New York City alone forecasts a need for 30,000 extra machines.
• On 31st March 2020, Medtronic made the specifications of Puritan Bennett (PB) 560 portable ICU Ventilator hardware public. The complete specifications produce manuals, and design documents have been made accessible to the public to overcome the excess requirement of the ICU Ventilators during the pandemic.

Competitive Outlook of the Global ICU Ventilator Market

The globla ICU Ventilator market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the ICU Ventilator market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.

Top Companies Profiled in the Report:

Becton, Dickinson and Company, Koninklijke Philips N.V., Hamilton Medical AG, Fisher & Paykel Healthcare, Limited, Draegerwerk AG CO. KGaA, Medtronic PLC, GE Healthcare, Smiths Group PLC, ResMed Inc., and Maquet Holding B.V. & Co. KG, among others.

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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.

ICU Ventilator Market Segmentation:

Type Outlook (Revenue, USD Billion; 2019-2030)

• Mechanical ICU Ventilators
• Invasive ICU Ventilator
• Non-Invasive ICU Ventilator

Target Population Outlook (Revenue, USD Billion; 2019-2030)

• Pediatric
• Adult
• Geriatric
• Others

End User Outlook (Revenue, USD Billion; 2019-2030)

• Hospitals and Clinics
• Home Care
• Ambulatory Care Centers
• Emergency Medical Services

Key Regions Covered in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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