A medical tool, ventilator, is mainly developed to aid assist the individuals who have problems to breathe naturally; it can be referred to as the artificial respiration given to patients. Ventilators are broadly used in chronic lung illnesses or other conditions that give rise to the abnormal functioning of the respiratory system. However, in situations where individuals need enduring care facilities and ventilators becomes their basic necessity for their residual span of life, they can be utilized at home. At present, the world is hit by the novel coronavirus and is causing distress across the whole world considering the rising patient pool and the number of deaths caused by it. This is the key factor contributing to the growth of the global ventilators market.
The other major factors fueling to the growth of the global ventilators market is the rising re-admission and hospitalization rate of patients as they may require frequent ventilation support. Also, the growing urbanization, damaging lifestyle habits, intensifying pollution levels, and the cumulative frequency of tobacco smoking further elevating the count of cardiovascular & respiratory disease cases, are projected to propel the expansion of the global market growth in the years to come.
In addition, the rapidly rising number the elderly people worldwide and the rising prevalence of respiratory diseases (such as COPD & asthma) are also anticipated to drive the global ventilator market expansion during the forecast period. Further, there is trend observed in the market for the compact, low-maintenance ventilators as they are built in a manner to be handled manually, in situations where there is no possible supply of electricity.
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To cite, during mid-April, 2020, Nihon Kohden Corp. announced to accelerate it ventilator production by functioning with Toyota Motor Corp. to get geared up for the likelihood of an extensive coronavirus outburst in Japan. As per the reports, the medical-equipment manufacturer intends to deliver 1,000 ventilators within the ensuing 6 months by increasing production fivefold.