Global Ventilator Market Analysis, 2020 market research report depicts a deep-dive market analysis of statistics of Global Ventilator market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
|Study Period||Historical Data: 2015-19|
|Base Year: 2019|
|Forecast Period: 2020-25|
|Regions Covered||North America|
|Middle East & Africa|
|Unit Denominations||USD Million/Billion|
COVID-19 Spiked the Market Growth
COVID-19 has strategically transformed the global ventilator market dynamics in 2020. The market has seen a vibrant growth due to massive requirements coming up from diverse geographies, as the corona casualties are steadily growing in many countries. Almost all the major developed and emerging economies have been suffering from a shortage of ventilators. The year 2020 is proving to be a strategic inflection point for the Ventilator market. The market will continue to remain vibrant for the next 4-5 years even if the effect of COVID-19 is marginalized. The major countries would invest massively in upgrading their healthcare infrastructure as a measure of preparedness to counter such sudden pandemics.
Some of the other major factors contributing to the growth of ventilators are the rising aging population and the prevalence of chronic diseases. Moreover, the growth of ventilators is persistent due to respiratory disease owing to the smoking habits of individuals.