The Global Portable Ventilators Market is estimated to be USD 770.5 Mn in 2021 and is expected to reach USD 1,080.8 Mn by 2026, growing at a CAGR of 7%.
The factors fueling the growth of the portable ventilator market are increasing incidences of breathing diseases and respiratory problems among the growing population. Additionally, the increasing smoking population is another factor for the increased demand for portable medical ventilators.
The intervention of innovative technology in the healthcare sector has improved operational conduct and has provided the patients with intensive care solutions. The market is expected to expand due to rapid development in technology. Advancement in technology has enabled these ventilators to be used anywhere and anytime by the patient without any medical set-up.
The world is currently hit by the pandemic of COVID-19. This disease leads to multiple organ failure, acute & severe respiratory disorders, pneumonia, and even death due to breathing issues in some severe cases. Hence, a surge in the number of people with Covid-19 is anticipated to boost the global demand for portable ventilators.
However, the high cost associated with portable medical ventilators is one of the major factors that are likely to hinder the growth of the portable ventilators market soon. Also, the availability of low-cost non-branded products available in the market creates a challenge for branded ventilator producers.
Some of the companies covered in this report are ResMed Inc., Medtronic Plc, Becton, Dickinson and Company, Getinge AB, Drgerwerk AG & Co, Smiths Group Plc, Hamilton Medical AG, G.E. Healthcare, Nidek Medical, Oricare Inc, Teleflex Incorporated, and others.
Source:https://www.businesswire.com/news/home/20210907005482/en