April 14, 2022 17:20 ET | Source: Arizton Advisory and Intelligence Arizton Advisory and Intelligence
Chicago, April 14, 2022 (GLOBE NEWSWIRE) -- According to the latest research report by Arizton, the ventilator market is one of the fastest-growing segments in the global medical devices market. Due to the surge in COPD and SARS-CoV-2 infection, the demand for medical ventilators is increasing rapidly.
The development of smart ventilation systems enabled by the latest technologies such as IoT has allowed healthcare providers worldwide to offer timely vital respiratory support to covid-19 patients.
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The market is highly consolidated with key players accounting for major shares. However, as the market offers tremendous growth opportunities for vendors, especially in long-term supporting devices, several start-ups and small MedTech investigating companies are actively developing next-generation 3D-printed ventilators and other simple supportive ventilators.
Most manufacturers extended their production capacities by 3 to 4 times compared to the pre-pandemic years. During the different waves of COVID-19 between 2019 and 2021, the estimated overall production of ventilators worldwide increased to 250,000 ventilators per unit.
New Product Launches Based on Advanced Technologies
Emerging concept of smart and intelligence ventilators solutions will deliver high market growth opportunities. Medical ventilators have developed greatly in the last decade to improve gas exchanges and reduce the risk of ventilator-related lung damage (VALIs). In July 2021, Mindray introduced the new ventilators product SV 300 Pro. It is a new turbine-based ventilator for use in hospitals and in emergency cases. It is an upgraded version of the SV300 ventilators, which is easy to operate, and versatile. It is mostly used for cardiac arrest patients. These specially developed ventilators with unique ventilation modes for CPR procedures.
In May 2020, NASA developed a new ventilator Called VITAL (Ventilator Intervention Technology Accessible Locally) which is authorized by the FDA for emergency use to treat COVID-19 patients. This ventilator was developed by the engineers of the NASA Jet Propulsion laboratory. Caltech's Office of Technology Transfer and Corporate Partnerships, which runs JPL for NASA, was issuing a free license for VITAL and is looking for manufacturers in the commercial medical market.
Market Segmentation by Patients Group
Market Segmentation by End User
Europe is Expected to Dominate the Medical Ventilator Market
In Europe, the rise in the number of people affected by the pandemic has accelerated the demand for ventilators to stabilize the situation. The demand for ventilators has increased ten-fold across the region. However, various new strategies and the increase in home mechanical ventilation (HMV) may help in overcoming these limitations across European countries. These factors will fuel the demand for ventilators across the region.
The rise in the number of critical services and beds per 100,000 inhabitants in Europe will propel the demand for ventilators. Mechanical ventilation has high demand in the critical care services segment across Europe.
Vendors in the Medical Ventilator Market
Explore our health & wellness profile to know more about the industry.
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