Ventilator Market Experience A Significant Impact In 2020 Influenced by Covid-19 Pandemic
As the coronavirus outbreak wreaks havoc around the world, infecting more than 3.3 million people globally as of April 30th, 2020, healthcare experts fear there could be a severe shortage of ventilators. COVID-19 is known to affect the respiratory system of the patient who is required to be put on a ventilator. A ventilator is a machine used to put additional pressure to pump oxygen into the bloodstream and take out carbon dioxide from the lungs of the patient. Various reports suggest that the country around the globe does not have sufficient ventilator stock at present to cope with the pandemic. Hence, the government across the world seeking out every possible way to get these machines for the next three to four months to help patients hit by the coronavirus pandemic.
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Due to a shortage of ventilators, patient caretakers and doctors use bag valve mask devices to manually ventilate patients for prolonged periods leading to mortality and morbidity. To fulfil the requirement of ventilators, many start-ups and innovators are coming up with solutions. Ventilator manufacturers are racing to boost production of the medical ventilators required to save the lives of many critically ill coronavirus patients, but they will not be able to ramp up production quickly enough to meet the demands of the exponentially growing cases of COVID-19. Draegerwerk AG, Medtronic PLC, Getinge AB, Philips NV and Hamilton Medical among the biggest suppliers of medical ventilators and related respiratory equipment, are working day and night to meet increased global demand. For instance: Hamilton Medical, which typically produces about 15,000 of the devices a year, has ramped up production about 40% amid COVID-19 outbreak.
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Also, the government has asked automobile manufacturers to use their facilities to produce ventilators because of rising COVID-19 cases across the world. Ford is now working with 3M and General Electric to make the kinds of ventilators and masks that are currently in short supply as the world battles the novel coronavirus pandemic. The company also joins other carmakers like Tesla and General Motors in helping out the medical community. In India, the central government has already asked out to five automakers like Tata Motors, Mahindra and Mahindra (M&M), Hyundai Motor India, Honda Cars India and Maruti Suzuki to explore the possibility of making ventilators in their plants. Maruti Suzuki has decided to manufacture 10,000 ventilators in collaboration with AgVA Healthcare, an existing approved manufacturer of ventilators.
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For a better understanding of the ventilator, demand trend arises due to COVID-19, a detailed analysis was conducted for the top 10 most affected regions including United States, Germany, United Kingdom, France, Italy, Spain, Russia, Turkey, Iran, and India. The United States currently has the highest number of ventilators available and is expected to need even more than any other country across the world as the region acquires more than 30% of the global COVID-19 cases alone and the cases are still on the rise. Some of the major players profiled in the ventilator demand market study include Getinge, Hamilton Medical, Drager, Mindray, Medtronic, Lowenstein Medical UK, Philips, General Electric, Fisher & Paykel Healthcare and Vyaire Medical. These industry players are entering into several mergers & acquisitions and partnerships for the expansion of their reach and increasing their hold on the market.
Ventilator Demand- COVID-19 Impact Segmentation
Market Insights, by Countries
Rest of World
Top Company Profiles
Lowenstein Medical UK
Fisher & Paykel Healthcare
Ventilator Demand-COVID-19 Impact report can further be customized as per the client’s requirements (interested country). Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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