Set to grow at a steady rate over the next few years, global mechanical ventilators market will witness generation of novel growth opportunities. Players in the vendor landscape would clamor for a claim on these, taking up novel growth strategies. In turn, these will keep the market buoyant. A number of other factors will contribute to growth in the global mechanical ventilators market.
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And, it goes without saying that the COVID-19 pandemic is major propeller of growth here. With millions of people infected and many needing critical care, demand for ventilators has soared. This has therefore been a notable factor of growth in the market and will keep demand high in hospitals and other care facilities where authorities will try to stock up on life-saving equipment.
Increase in incidence of respiratory diseases such as chronic obstructive pulmonary is also lading to a higher demand curve for mechanical ventilators. Additionally, the demographic for geriatrics is expanding in terms of numbers and this is set to drive the global mechanical ventilators market on an upward growth trajectory.
It is also pertinent to note here that governments across the world in general and in developing regions in particular are directing their best efforts towards improvement in healthcare outcomes, particularly in the case of a raging pandemic. Over the next few years while North America is set to account for a large share of the market, Asia Pacific is set o chart notable rate of growth. The former would capitalize upon a robust healthcare infrastructure and notable manufacturers present in the region. The latter on the other hand will ride the wave of improving infrastructure and increase in incidence of chronic illnesses.
Prominent players operating the vendor playfield of global mechanical ventilators market are Medtronic, Smiths Medical, Ventec Life System, Allied Healthcare, and GE Healthcare.
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