The Americas holds the largest share in the global Medical Ventilator Market, followed by Europe. Technological progression and widespread presence of advanced medical technology have facilitated the dominance of the Americas in the global Medical Ventilator Market. Asia Pacific stands in third place, but is expected to exhibit steady progress over the forecast period as emerging economies in the region become wise to the benefits of having a strong healthcare sector functioning in the country. The growing focus on reducing infant mortality in regions such as India, China, and Southeast Asia is likely to be a major driver for the Medical Ventilator Market.
The Global Medical Ventilator Market Share is expected to exhibit a strong CAGR of 7.9% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global Medical Ventilator Market is profiled in detail in the report, which provides a detailed analysis of the major drivers and restraints facing the market and the impact of these drivers and restraints on the growth trajectory of the market over the forecast period. The major players operating in the global Medical Ventilator Market are also profiled in detail in the report, which provides the readers with a complete overview of the competitive landscape of the market. A detailed analysis of the market’s various aspects is made in the report, providing readers with a comprehensive overview of the market.
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Medical ventilators are respiratory assistance devices used in critical care applications. The growth of the healthcare sector in recent years and increasing technological upgradation in the same is likely to be the major driver for the global Medical Ventilator Market over the forecast period. The growing healthcare sector requires more devices such as medical ventilators in order to perform to the full and cater to the needs of a growing population. With medical ventilators, even critical cases can be revived; this has been the prime aim of the growth of the healthcare sector in emerging regions and is thus likely to be a major driver for the global Medical Ventilator Market over the forecast period.
As the healthcare sector has grown around the world, it has also become more refined and more technologically advanced. This has led to the development of more advanced medical ventilators equipped with additional gimmicks such as remote patient monitoring, backup batteries, oxygen tanks, and remote control. This has been a major driver for the global Medical Ventilator Market.
The growing neonatal care sector around the world is also likely to be a major driver for the global Medical Ventilator Market. Medical ventilators are widely used in neonatal care, especially when babies are born with breathing difficulties and need assistance with respiratory functions. The growing attention on reducing infant mortality, especially in developing countries, is likely to be a major driver for the global Medical Ventilator Market over the forecast period.
Leading players in the global Medical Ventilator Market include Teleflex Inc., Hamilton Medical, Allied Healthcare Products Inc., Becton Dickinson and Company, General Electric Company, ResMed, Medtronic, and Koninklijke Philips NV.
Product development is likely to remain a key focus for major players in the global Medical Ventilator Market. Developing medical ventilators with added functionalities, especially in the field of remote patient management, is likely to be a favored tactic for players in the Medical Ventilator Market, as this is likely to lead to higher revenue generation.
The global Medical Ventilator Market is segmented on the basis of type, application, and region.
By type, the global Medical Ventilator Market is segmented into noninvasive ventilators, invasive ventilators, and mechanical ventilators. The noninvasive ventilators segment is further subsegmented into volume-cycled, pressure-cycled, flow-cycled, and time-cycled ventilators. Mechanical ventilators are also subsegmented, into positive pressure and negative pressure ventilators.
By application, the global Medical Ventilator Market is segmented into critical care, neonatal care, emergency care, and others.
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