Tag: Neonatal

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

Stethoscope Market Size Worth $593.4 Million By 2027

The global stethoscope market size is anticipated to reach USD 593.4 million by 2027, expanding at a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Growing prevalence of cardiovascular and respiratory disorders, and increasing geriatric population are driving the market. Increase in incidence of numerous cardiovascular and pulmonary diseases in several countries is anticipated to impact market growth over the forecast period. Stethoscope is widely used for heart auscultation (listening to the heart sound) during diagnosis of cardiac illness. It is also used to primarily examine the condition of phlegm in the respiratory tract.

Moreover, growing elderly population has increased the demand for the medical device for the primary diagnosis of numerous chronic health ailments. According to the CDC, people aged above 65 years are at a higher risk of developing several chronic diseases. In addition, the world population aged 60 years and above is expected to increase from 900 million in 2015 to 2 billion in 2050 from. This is expected to boost the market.

Furthermore, several government initiatives, the introduction of new products, and incorporation of new technologies by market players, are likely to boost the market during the forecast period. For instance, 3M has launched ‘Single-Patient Stethoscope’ to overcome the issues related to disposable stethoscopes such as, inadequate audibility and discomfort faced by healthcare professionals. The device helps in minimizing the risk of cross-contamination while enhancing patient care.

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

Further key findings from the report suggest:

  • In terms of revenue, the teaching type segment dominated the market in 2019. The device is widely used for teaching/training purposes and is ideal for instructors and medical students
  • The electronic type segment is expected to witness the highest CAGR of 5.5% from 2020 to 2027 owing to advanced features offered by the medical device such as, electronically amplified sound quality, audio recording, and reduced background noises for improved diagnosis
  • North America dominated the market with the highest revenue share in 2019 owing to the presence of well-established healthcare facilities and increasing prevalence of numerous heart and lung associated diseases
  • In Latin America, the market is expected to witness the highest CAGR of 5.3% from 2020 to 2027 due to increasing healthcare expenditure in most of the countries in the region.