The global Ventilator market is forecast to reach USD 26.66 Billion by 2027, Moreover, a steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 11%. according to a new report by Reports and Data. The ventilator market is witnessing a drastic increase in demand owing to the growing incidence of patients suffering from COVID-19. The number of cases are growing rapidly and the hospitals currently does not have enough for the patients that need them. Increase in the number of ICU beds and rise in geriatric population are propelling the demand of the market. The global manufacturers are under lot of strain to manufacture large number of medical ventilators, they are sophisticated devices used by the critically ill. The factors driving the market are high incidence of chronic disease among children, and prevalence of heart diseases and respiratory problems. The worsening of pollution internationally is also impacting the market. Advancement in technology and advent of cost-effective, patient-friendly, and portable devices are further encouraging their usage. Moreover, supportive government policies in developing nations like India, and China are focusing on cost-efficient solutions to provide flexibility in patient care.

The COVID-19 Impact:

The demand for the ventilator will grow tremendously during the pandemic. New equipment will enhance and expand performance capabilities, which will build sales in hospitals, outpatient facilities. Overall, the pandemic crisis will lead to multiple changes, which will result in companies adopting different strategies to meet increasing demand.