The increase in respiratory disorders due to the growing pollution, coupled with technological advancements are driving the market.
The global Respirator Market is forecast to reach USD 3.70 billion by 2030, according to a new report by Reports and Data. The respirator 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 respirators, 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.
Key companies profiled in the report include
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 an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Respirator market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (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)
Respirator Market Segmentation based on Types:
Type Outlook (Revenue, USD Billion; 2019-2030)
- Mechanical Respirators
- Invasive Respirator
- Non-Invasive Respirator
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
Further key findings from the report suggest,
- The adoption of the non-invasive respirator 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 respirators in the hospitals and are still falling short.
- In the year 2019, 77,000 new respirators 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 respirator hardware public. The complete specifications produce manuals, and design documents have been made accessible to the public to overcome the excess requirement of the respirators during the pandemic.
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