Skip to main content

COVID-19 Pandemic Triggered the Growth of Global Ventilator Market

 

According to the market intelligence published by BIS Research, the global ventilator market was estimated at $1,072 million in 2018. The market is now projected to grow at a CAGR of 7.1% in the pre-COVID scenario by the end of 2026. However, owing to the present scenario COVID pandemic, the demand for ventilators has increased drastically. With the number of novel coronavirus patients increasing daily in the U.S., the demand of ventilators is anticipated to surpass the supply of total production of 2000 ventilators each week.

During the last year a total of 77000 new ventilators were projected to fulfill the demand arising out of the coronavirus health crisis however, owing to the myopic vision of the political leaders, lax on the part of government of China, as they failed to update the exact number of patients affected due to coronavirus and the unavailability of the drugs to prevent or treat the infection and the discrepancy in sharing of information with the World Health Organization, has led to the spread of coronavirus globally and was eventually declared as a pandemic. This further caused the demand of additional 30,000 ventilators in U.S. itself.

The only way through which the spread of the virus can be controlled is through social distancing which led to absence of workers in factories and manufacturing units, and eventual situation of lockdown. However, this created a situation of panic with regards to manufacturing of ventilators and the requirement of machinery and equipment needed for production. Consequently, the complete lock down of economies to promote social distancing to prevent the spread of coronavirus pushed the countries to scale up the existing ventilator manufacturing units in the country. For this the entire supply chain of the market was analyzed for the supply of critical components required for the development of ventilators. This increasing requirement of components such as valves for the ventilators led to the use of 3D printing technology for their production so as that only very critical components are ordered from the far away situated manufacturing units. Some of the  manufacturers involved in the manufacturing of ventilator market include Dräger, Fisher & Paykel Healthcare, Vyaire Medical, Gelinge, Medtronic Technologies, Hamilton Medical, GE Heathcare, Mindray, Philips, an Löwenstein, among others.

Comments

Popular posts from this blog

Farm Management Software and Data Analytics Market Future Prospects And Competitive Analysis 2020-2026

The growth in the global farm management software and data analytics market is expected to be driven by increasing demand for agricultural mechanization and automation along with increasing average farm size in certain countries such as Australia and Canada. Report Preview is available at: https://bisresearch.com/industry-report/global-farm-management-software-data-analytics-market.html Farm management software and data analytic solutions not only offer increased transparency in the agricultural field but also decrease the chances of pest attack and crop failure. Increased agricultural production will help in catering to the growing population and uplifting the global agricultural industry. A major factor driving the farm management software and data analytics market is the increase in government initiatives and support toward agricultural digitization. Government initiatives increase the awareness regarding the farm management software and the benefits these solutions entail when appl...

Unmanned Aerial Vehicles (UAV) Market

This report is intended to be a comprehensive study of the global Unmanned Aerial Vehicles (UAV) market . The report focuses largely on providing market information for UAVs, covering stakeholder analysis and geography. Further, the market estimated for UAVs considered “2017-2021” as the forecast period. The research methodology design adopted for this specific study includes a mix of data collected from primary and secondary sources. The research exhaustively use both primary sources (in-house experts, industry leaders and market players) and secondary sources (a host of paid and unpaid databases) along with analytical tools to build forecast and predictive models. Primary Data Sources The primary sources involve the industry experts from the Unmanned Aerial Vehicles (UAV) industry including the experts from drone manufacturers, software providers and key innovators among others. Primary resources such as CEOs, vice presidents, marketing directors, and technology directors, a...

Intelligent Lighting Controls Market Report

The report constitutes an extensive study of intelligent lighting controls market. It includes a thorough analysis of different component types as well as different connection types used in the intelligent lighting controls. Intelligent lighting controls market has further been segmented in terms of application which helps in understanding the behavior of different verticals in using intelligent lighting controls. It further explains the driving forces, challenges and growth opportunities of the intelligent lighting controls market. Major players have been identified on the basis of revenue generation, geographical presence and developments related to intelligent lighting controls. A detailed company profiling has been done in order to understand the player’s strategic behavior. The intelligent lighting controls market is further explained and analyzed on the basis of geography. The geographical analysis has been categorized into four regions namely: North America, Europe, Asia-Pa...