Medical Ventilator Market Set for Robust Growth Expected to Reach US$ 4.8 Billion by 2034 | Fact.MR Report
Benzinga - Dec 18th, 2024
The global medical ventilator market is projected to grow from $1.9 billion in 2024 to $4.8 billion by 2034, driven by a 9.9% CAGR over the decade. This growth is fueled by the rising incidence of chronic respiratory disorders and COVID-19 mutations, increasing demand for ventilators. Non-invasive ventilators, especially for managing ALS and tuberculosis, are gaining popularity due to cost-effectiveness and positive outcomes. Technological advancements, such as smart sensors and AI integration, are enhancing device sophistication. Key market players include Becton Dickinson, Getinge AB, and Philips, among others. Recent innovations include Vapotherm's Access365TM and Philips' Trilogy EV300 ventilators. The United States and Japan are significant markets, with U.S. holding a 44.5% share in North America in 2024. Strategic mergers and collaborations are anticipated to strengthen market positions.
RATING
The article provides a detailed overview of the global medical ventilator market, supported by statistics and insights from Fact.MR, a market research company. While it offers valuable information on market trends and projections, its credibility relies heavily on the accuracy of the information provided by Fact.MR.
RATING DETAILS
The article presents specific data and market forecasts, which appear accurate based on the source company's expertise. However, it lacks direct links to verify the data from independent sources such as the World Health Organization.
The article primarily focuses on the positive growth prospects of the medical ventilator market. It does not explore potential challenges or differing perspectives, such as economic or regulatory hurdles that could impact the market.
The language used is clear and professional, with a logical structure. It effectively communicates key market insights without using overly technical jargon or emotive language.
The article cites Fact.MR, a known market research firm, suggesting a level of credibility. However, it doesn't provide a diverse range of sources, potentially limiting the scope of its analysis.
The article clearly outlines the entity behind the research, Fact.MR, but it does not disclose any potential conflicts of interest or affiliations that may impact the objectivity of the findings.