Introduction
Portable ventilators are used to provide oxygen to patients while commuting. These ventilators are used in hospitals and day care centers for continuous oxygen supply when a COPD patient is unconsciousness or when there is discomfort due to breathing problems.
The major factors driving the market growth include the rising burden of chronic diseases due to lifestyle changes, the rising geriatric population, and the growing demand for home-based monitoring devices.
On the other hand, the rise in incidences of ventilator-associated pneumonia, higher cost of portable ventilators are obstructing the growth of the marke
The COVID-19 pandemic has severely impacted healthcare industry. But the demand for portable ventilators market is likely to increase during this pandemic period. These are used as primary device for treating the COVID-19 patients and suspected cases having breathing issues.
Table of Contents
Market Overview
U.S portable ventilators market is expected to have incremental growth of $44.70 million during 2020-2025
Growth momentum is expected to accelerate during the forecast period with a 6.51% CAGR.
The rising geriatric population, high prevalence of chronic respiratory diseases, and increase in government expenditures on the healthcare industry are driving the market growth.
In the future, the market is expected to increase by the growing need for emergency care for prolonged illnesses and prolonged treatment associated with lung diseases in children as well as adults.
Key Trends
Technological advancement on portable ventilators will further boost the market growth.
High utility of portable ventilators in combating infectious diseases and pandemics are expected to propel the market growth.
Increasing number of programs and initiatives aimed at spreading awareness about the benefits of portable ventilator in home healthcare will also support market growth.
Key Market Players
Some of the key players in the market are Koninklijke Philips, Smiths Group, Hamilton Medical, Medtronic, Getinge, Percussionaire.
The market is highly competitive owing to the rise in demand for portable ventilators coupled with technological advancements, which is likely to boost the entry of new companies. Mergers & acquisitions, strategic alliances, collaborations and extensive R&D in this area are some of the initiatives being undertaken by key companies to increase their market shares.
Furthermore, during COVID-19, governments are collaborating with private companies to increase the production of portable ventilators as there is an increasing demand for the same.
Growth Drivers and Challenges
Evolving industrialization in growing economies are resulting in the prevalence and early onset of chronic diseases. To overcome this situation, increasing utilization of portable ventilators for the management of chronic diseases
Increasing geriatric populations with respiratory problems is also driving the market growth
Increase in U.S government expenditures on healthcare is another factor that is driving the market
Rise in prevalence of ventilator-associated pneumonia (VAP) is restraining the market growth.
Higher cost of portable ventilators is a major factor expected to hamper growth of the market