Increased Demand due to COVID-19 Pandemic stirs growth in Non-invasive Ventilators Market: TMR
ALBANY, N.Y., Feb. 10, 2021 /PRNewswire/ -- The escalating geriatric population coupled with the growing incidences of chronic conditions is expected to generate extensive growth prospects across the assessment period of 2019-2027. The heightening popularity of non-invasive ventilators to eliminate the fear of lung injury may further bring tremendous growth opportunities for the non-invasive ventilators market.
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A ventilator is a life-supporting system used for inhaling oxygen and exhaling carbon dioxide from the body. Non-invasive ventilators date their origins back to the 20(th) century. In the initial years, these ventilators were used extensively for treating patients with acute respiratory failure. Over the last decade, the use of non-invasive ventilators has increased exponentially and is gaining immense popularity. Thus, these aspects have influenced the growth of the non-invasive ventilators market to a great extent.
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According to the experts at Transparency Market Research (TMR), the global non-invasive ventilators market is extrapolated to record a CAGR of ~6 percent during the assessment period of 2019-2027.
The growing technological advancements across the non-invasive ventilators market is expected to attract considerable revenue from the end-users. The growing prevalence of respiratory diseases may also have a positive effect on the growth of the non-invasive ventilators market. Unhealthy habits like alcohol consumption and smoking among a considerable chunk of the populace has increased the emergence of various diseases and disorders on a large scale. Thus, all these factors are expected to influence the growth of the non-invasive ventilators market during the forecast period of 2019-2027.
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Non-Invasive Ventilators Market: Analysts Perspective
The analysts at TMR expect the non-invasive ventilators market to grow on the back of the improved healthcare policies across the globe. The analysts further state that the entry of new players in the non-invasive ventilators market will intensify the completion, thus leading to new developments and eventually increasing the demand for non-invasive ventilators.
Explore 239 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Non-invasive Ventilators Market (Product: Systems (Non-invasive PPV, High Flow Nasal Cannula O2 Delivery, and Others) and Consumables (Masks, Humidifiers, PEEP Valves, and Others); Application: Chronic Obstructive Pulmonary Disease, Asthma, Respiratory Distress Syndrome, Pneumonia, and Others; End Use: Critical Care, NICU Care, Transport (Ambulances), and Home Care Settings) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/54720
Key Findings of the Report
Government Policies on Development of Healthcare Infrastructure to Boost Growth of Non-Invasive Ventilators Market
Governments of various countries, especially in developing economies like India and China are taking considerable measures to improve healthcare infrastructure. Recently, the Indian government, during the annual budget announced Rs 64,180 cr under the 'PM Atmanirbhar Swasth Bharat Yojana'. Such investments through the governments will propel the growth rate of the non-invasive ventilators market to a certain extent.
Strategic Collaborations to Influence Growth of Non-Invasive Ventilators Market
The players in the non-invasive ventilators market are constantly involved in strategic collaborations like mergers, acquisitions, partnerships and joint ventures. These activities help the players to strengthen their foothold and eventually increase the growth prospects of the non-invasive ventilators market.
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Increased Demand during COVID-19 to Accelerate Growth
The demand for non-invasive ventilators has increased substantially during the COVID-19 pandemic. These ventilators are used for critical COVID-19 patients. They decrease lung damage and reduce pressure on intensive care units across hospitals. Thus, all these factors assure profitable growth for the non-invasive ventilators market during the assessment period.
Speedy Regulatory Approvals to Propel Growth of Non-Invasive Ventilators Market
Quick approvals for non-invasive ventilators by the regulators of numerous countries will assure extensive growth for the non-invasive ventilators market. The growing shortage of ventilators due to the rising COVID-19 pandemic has led to large number of approvals related to non-invasive ventilators. For instance, a non-invasive ventilator developed by CSIR-NAL, SwasthVayu recently bagged an approval from the regulatory authorities.
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