The Ventilators Market is expected to grow on a persistent note in the future. With AI making its mark everywhere, how could the healthcare vertical be left behind? Abnormalities in the medical scans could be easily spotted by radiologists with the help of machine learning. Likewise, the healthcare vertical is poised to develop on a ravishing note with technological advancements on the anvil in the next decade.
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On the basis of delivery of oxygen into the lungs, ventilators are of two types such as positive pressure mechanical ventilators and negative pressure mechanical ventilators. Ventilators are used generally used in hospitals. However, in conditions where patient needs long term care facilities and require ventilators for the rest of their lives, the ventilators can be used at home.
North America has the largest market for ventilators followed by Europe, due to the availability of better healthcare infrastructure, technological advancement and improving reimbursement scenario for ICU procedure in this region. Asia is expected to experience high growth rate in the ventilators market in next few years due to emerging economy and improvement in healthcare technologies in the region.
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Technological advancements, rising incidence of chronic diseases such as pulmonary and other respiratory diseases and increasing aging population are driving the global ventilators market. In addition, rising healthcare expenditure and increasing number of intensive care beds in emerging economies are driving the growth for global ventilators market. However, lack of standardized nomenclature for different ventilation modes and high cost involved are restraining the global ventilators market.
Growing demographics and economies in the developing countries such as India and China are expected to offer good opportunities for growth of ventilators market in Asia. In addition, integration of physiological principles in system would offer opportunity for global ventilators market. However, complications involved in the use of mechanical ventilators are a challenge for ventilators market.
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Some of the trends for global ventilators market are increasing adoption of home mechanical ventilators and increasing preference for portable and home care ventilators. Some of the major companies operating in the global ventilators market are ACOMA Medical Industry Co., Ltd., Dragerwerk AG & Co. KGaA, MAQUET Holding B.V. & Co. KG., Bio-Medical Devices Intl, GE Healthcare, CareFusion Corporation, Bunnell Incorporated, Covidien, Teleflex Incorporated and Koninklijke Philips N.V.
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