Growing chronic and surgical problems are increasing the demand for critical care ventilators. COPD is one of the major chronic respiratory problems, for which patient may need to get admitted in a critical care setting and would require critical care ventilators. Chronic diseases such as cancer are increasing globally. A cancer patient who require critical care treatment may get admitted in a critical care unit and may require respiratory support, for which critical care ventilators are required. Furthermore, these critical care ventilators help in patients who undergo surgical process under general anesthesia. As anesthesia affects body muscles, including breathing muscles, it becomes difficult for the patients to breathe on their own. Hence, they require ventilation support for respiratory assistance. analysts have predicted that the critical care ventilators market will register a CAGR of almost 7% by 2023.
Expansion of product portfolio through new launches
The growing number of chronic a surgical case led companies to focus on increasing their product portfolio. Companies are focusing on developing advanced critical care ventilators, which can increase their sales, improve their market share, and induce market competitiveness.
High cost associated with critical care ventilators
The high cost associated with these ventilators, especially in price-sensitive markets such as developing and emerging economies, has been hindering the market growth. Furthermore, the price is increasing along with the technological advances in them.
For the detailed list of factors that will drive and challenge the growth of the critical care ventilators market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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