Medical Ventilators

Benzinga - Dec 18th, 2024

Score 7.6

Medical Ventilator Market Set for Robust Growth Expected to Reach US$ 4.8 Billion by 2034 | Fact.MR Report

Rockville, MD , Dec. 18, 2024 (GLOBE NEWSWIRE) -- The global Medical Ventilator Market is estimated at US$ 1.9 billion in 2024 and is foreseen to increase at a CAGR of 9.9% during the next 10 years (2024 to 2034), estimates Fact.MR, a market research and competitive intelligence provider, in its recently updated research report.Rising cases of chronic respiratory disorders and a surge in the cases of COVID-19 mutations across the world are creating lucrative opportunities for medical ventilator suppliers. Chronic obstructive pulmonary disease (COPD) is one of the major disorders hampering the health of many individuals. Most of these patients require air respiratory devices to combat the adverse effects of COPD. According to the World Health Organization, in low- and middle-income economies, approximately 90% of COPD patients under the age of 70 pass away. Ups and downs in cases related to corona variants are expected to drive the need for medical ventilators in healthcare settings across the world. Technological advancements, advent of advanced portable breathing technologies, and clearance of the latest medical ventilators will boost the profits of manufacturers. Strategic moves by companies to consolidate their market position through the acquisition of new or small companies and collaborations with other players are expected to be highly observed over the coming years. For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=4727Key Takeaways from Market Study:The global medical ventilator market is calculated to reach US$ 4.8 billion by 2034.The United States is expected to account for 44.5% of the North American market share in 2024.Demand for medical ventilators in Japan is forecasted to rise at a CAGR of 10.4% in the coming 10 years.Non-invasive medical ventilator demand is anticipated at a market value of US$ 1 billion in 2024.Transport and portable medical ventilator sales are projected to reach US$ 2.2 billion by 2034."Integration of advanced ...Full story available on Benzinga.com