The market is estimated to grow with a CAGR of 13. 7% from 2020 to 2027. The growth of the Asia Pacific ventilator market is driven by rising incidences of respiratory illnesses and sudden outbreak of the COVID-19.
New York, Nov. 27, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Ventilator Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Mobility ; Type ; Interface ; Mode ; End User and Country" - https://www.reportlinker.com/p05989511/?utm_source=GNW
However, the high costs associated with ventilators are expected to hinder the growth of the market.
Ventilator is an automatic breathing system that transfers breathable air into and out of the lungs to provide oxygen to a patient who is breathing insufficiently.The unit performs by adding oxygen to the bloodstream and removing carbon dioxide from the bloodstream.
The device helps a patient suffering from respiratory problems get the right quantity of oxygen. It also helps patient’s body to heal since it eliminates the extra energy of labored breathing.
Respiratory diseases, such as asthma, chronic obstructive pulmonary disease (COPD), acute lower respiratory tract infections, tuberculosis, and lung cancer, are among the most common reasons for severe illness and deaths globally.Rapid urbanization, unhealthy lifestyle habits, growing pollution, and high tobacco smoking prevalence are among the factors that lead to the rise in the number of patients suffering from respiratory and cardiovascular diseases.
These diseases can cause acute and chronic respiratory failure, and treatment of these conditions requires mechanical ventilation.Increasing prevalence of respiratory diseases in Australia is likely to increase the demand for ventilators across the region.
For instance, in 2018, according to the Australian Institute of Health and Welfare, COPD was the fifth leading cause of death in Australia.Also, as per the Australian Institute of Health and Welfare, 1 in 20 Australians aged 45 years or above suffered from COPD during 2017–2018.
Moreover, as per the Worldometers, there were approx. 25,448 COVID-19 patients recorded in June in Australia. Australian companies are ordered to build 2,000 ventilators to increase hospitals’ capacity to treat COVID-19 patients. Australia’s federal government is focusing on increasing the capacity of intensive care units to treat seriously ill COVID-19 patients. A consortium of local companies, which will be led by Grey Innovation, a Victorian business, will produce 2000 invasive ventilators. Thus, the growing prevalence of respiratory diseases bolsters the demand for ventilators, which drives the growth of the Asia Pacific ventilator market.
Based on mobility, the Asia Pacific ventilator market is further bifurcated into intensive care ventilators and portable/transportable ventilators.The intensive care ventilators segment held a larger share of the market in 2019.
The portable/transportable ventilators segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on type, the Asia Pacific ventilator market is further bifurcated into adult/pediatric ventilator and neonatal/infant. The adult/pediatric ventilator segment held a larger share of the market in 2019, whereas the same segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on interface, the Asia Pacific ventilator market is further bifurcated into invasive ventilator and non-invasive ventilator. The invasive ventilator segment held a larger share of the market in 2019, whereas the non-invasive ventilator segment is anticipated to register a higher CAGR in the market during the forecast period.
Based on mode, the Asia Pacific ventilator market is further segmented into combined mode ventilation, volume mode ventilation, pressure mode ventilation, neurally adjusted ventilatory assist (NAVA), inverse ratio ventilation (IRV), prone ventilation, high-frequency oscillatory ventilation (HFOV), high-frequency percussive ventilation (HFPV), and others.The combined mode ventilation segment held the largest share of the market in 2019.
Also, the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on end user, the Asia Pacific ventilator market is further segmented into hospitals and clinics, home care, ambulatory care centers, and emergency medical services (EMS).The hospitals and clinics segment held the largest share of the market in 2019.
Moreover, the same segment is estimated to register the highest CAGR in the market during the forecast period.
A few primary and secondary sources included in the Asia Pacific ventilator market report are Australian Institute of Health and Welfare, National Investment Promotion and Facilitation Agency (Invest India) , and Worldometers.
Read the full report: https://www.reportlinker.com/p05989511/?utm_source=GNW
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