Global Ventilator Market is Projected to Reach $1,713.8 Million by 2025

FREMONT, Calif. - May 1, 2020 - PRLog -- According to a new market intelligence report by BIS Research titled 'Global ventilator Market − Competitive Landscape (https://bisresearch.com/industry-report/ventilator-market-competitive-landscape.html)', the growth trajectory of the global ventilator market has increased tremendously. In the absence of COVID-19, the global ventilator market was projected to reach $1,713.8 million by 2025, with a compound annual growth rate (CAGR) of 7.1%.

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the global spread of COVID-19, the growth has increased rapidly, and the market has been projected to reach $3,110 million with an exponential growth rate of 176% by the end of 2020. With greater awareness of the current ventilator shortage, there has been an effort to liberate currently stockpiled ventilators and to increase and expedite the production of new ventilators to meet needs

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Various ventilator manufacturing companies, such as GE Healthcare, Medtronic plc, Smith Medical, and Drägerwerk AG & Co. KGaA, have increased their production by more than 40%. Moreover, the companies have also revamped their other production lines in order to increase ventilator production. For instance, Medtronic Plc revamped its production lines for Cardiac and Vascular Group (CVG) and Cardiac Rhythm and Heart Failure for scaling up ventilator production in March 2020.Moreover, various non-healthcare companies, such as automotive companies, satellite companies, and house appliances companies, have also stepped up and have begun manufacturing ventilators.

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