Tag: Critical Care

Mechanical Ventilators Market Worth $3.6 Billion By 2027

The global mechanical ventilators market size is expected to reach USD 3.6 billion by 2027 according to a new report by Grand View Research Inc. The market is projected to register a CAGR of 4.7% from 2022 to 2027. The unprecedented dawn of COVID-19 pandemic, increasing incidence of Chronic Obstructive Pulmonary Disease (COPD), rising incidence of respiratory emergencies, and technological innovation in respiratory care devices are the major factors driving the market growth.

Technological advancements such as rapid innovation in the field of Positive Airway Pressure (PAP) devices, portability, and improvement in the battery life of transport and portable devices are the factors driving the growth of the market. The World Health Organization (WHO) estimates that, at present, approximately 90% of COPD-related deaths occur in low- and middle-income countries. Therefore, the rise in prevalence of such diseases, introduction, and availability of portable, cost contained, and easy-to-use mechanical ventilators for the treatment of respiratory conditions is expected to drive the growth in the demand for mechanical ventilators worldwide.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/mechanical-ventilators-market

Further key findings from the report suggest:

  • The transport and portable ventilators segment is expected to witness a lucrative CAGR of over 5.2% over the forecast period. Hospitals are promoting the use of portable breathing machines to provide faster and continuous care to patients even prior to their arrival on the premises. Portable breathing machines fulfill the need of patients to obtain home care, thereby increasing their popularity
  • North America dominated the market in 2019, in terms of revenue, owing to the rising geriatric population in the U.S., which is leading to a corresponding rise in the incidences of respiratory disorders along with manufacturing boost
  • Asia Pacific and Latin America are expected to witness lucrative growth over the forecast period. This growth is attributed to the presence of untapped opportunities, rising expenditure level, and the introduction of favorable government initiatives
  • Some key market players include Draeger Medical, Getinge, Medtronic, GE Healthcare, Koninklijke Philips N.V., Hamilton, and Smiths Medical
  • Market participants constantly engage in the development of new products in an attempt to improve their presence and ensure sustainability
  • Medtronic, plans to boost production nearly fivefold to more than 1,000 ventilators per week. It is expected to curb the breathing machine shortage in the U.S. Additionally, the U.S. automotive giants like Tesla, Ford, and GM have switched to production of medical supplies such as masks and breathing machines

Patient Handling Equipment Market Worth $23.4 Billion By 2024

The patient handling equipment market is expected to reach USD 23.4 billion by 2024, according to a new report by Grand View Research, Inc. The upsurge in the demand for products, such as slings, lifts, powered electric wheelchairs, due to the high risk of physical injuries in the manual lifting of heavy loads is a key growth driver of the patient handling equipment market. In addition, the growing prevalence of injuries, such as lower back pain, musculoskeletal disorders (MSDs), etc., is expected to boost growth in this sector. These injuries are avoidable by practicing safe patient handling guidelines and using equipment for the same.

Associated advantages and availability of improved products such as prime Transport Chairs (TC), temperature management systems, and patient transfer solutions, which offer safe, comfortable, and dignified transfer are the factors anticipated to provide lucrative growth to this sector in the near future.

Increasing incidences of Non-communicable Diseases (NCD), such as diabetes, asthma, cancer, stroke, etc., requiring patient handling equipment in homecare settings, hospitals, and intensive care units are further expected to boost market growth over the forecast period.

Click the link below:
http://www.grandviewresearch.com/industry-analysis/patient-handling-equipment-market

Further key findings from the study suggest:

  • The mechanical and nonmechanical equipment segment is expected to grow at a lucrative CAGR of above 12.0% owing to high penetration of hospital furniture, stretchers, evacuation equipment, ambulatory aids, and accessories in healthcare settings
  • On the other hand, medical beds held a lucrative share in this industry in 2015, due to the high adoption rate by hospitals and long-term acute care centers. Moreover, the introduction of technologically enhanced products and comfort offered by them are the factors attributing to its dominant share
  • The critical care segment is anticipated to grow lucratively during the forecast period, due to rising treatment rates and adoption of equipment to curb increasing prevalence of critical conditions and reduction in mishaps that occur during patient handling. Moreover, the critical care nursing and intensive care units requiring stable and safe handling practices for cardiothoracic, coronary, trauma, and surgical units supporting patients’ health are expected to widen the consumer base for these devices
  • Home care setting is anticipated to grow lucratively as a consequence of increasing patient preference to reduce hospital stay and cost for the treatment. In addition, the increasing preference of home care facilities by elderly patients’ is expected to intensify the demand for patient handling equipment over the forecast period. Moreover, increasing applications of long-term care programs, home health agency, and homecare services are expected to propel the market growth during the forecast period
  • Some key players in this market include Stryker Corporation; Hill-Rom Holdings, Inc.; Invacare Corporation; Getinge Group; Guldmann, Inc.; Stiegelmeyer, Inc.; Benmor Medical Ltd.: Sidhil Ltd.; ArjoHuntleigh, Inc.; Etac Ltd.; Joerns Healthcare; Handicare, Inc.; Mangar International Ltd.; Linet Americas, Inc; and Prism Medical Ltd.
  • These players are adopting strategies such as technological innovation, new product launch, and strategic collaborations, including mergers and acquisitions to capitalize on their industry share. For instance, in March 2016, Prism Medical Ltd. acquired lifts and elevating business of Shoppers Home Health Care in a probe to expand its business capabilities and strengthen its services portfolio. Similarly, in November 2014, Stiegelmeyer, Inc. introduced new technology “e-help,” an intelligent sensor technology for homecare and in-patient services enabling deeper market penetration.