Global Ventilator Breathing Circuit Market , by Product Type (Open type, Semi-open type, Semi-closed type, Closed type), by Application (Anesthesia, Respiratory dysfunction), by Patient Type (Adult, Pediatric) , by Distribution Channel (Hospitals, Ambulatory Surgical Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa), is estimated to be valued at US$ 1,207.0 million in 2022, and is expected to exhibit a CAGR of 4.1% during the forecast period (2022-2030).
Increasing number of awareness campaigns for asthma by non-profit organizations is expected to drive growth of the global ventilator breathing circuit market over the forecast period. For instance, the Centers for Disease Control and Prevention organized an awareness campaign on World Asthma Day, May 3, 2022, in order to raise awareness about asthma and help the lives of all asthma patients. In the campaign individuals suffering from asthma and organizations dedicated to asthma control come together to spread awareness.
Moreover, rising number product launches by market players is expected to propel growth of the global ventilator breathing circuit market during the forecast period. For instance, Hamilton Medical, a global ventilation solution provider, launched HAMILTON-H900 breathing circuit set. HAMILTON-H900 is a Wall-heated, all-in-one breathing circuit set and it has adjustable temperature and humidity settings.
Global Ventilator Breathing Circuit Market - Impact of Coronavirus (COVID – 19) Pandemic
The COVID-19 pandemic has affected several markets across the globe. The COVID-19 pandemic has affected demand and supply of healthcare products in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and due to its financial impact on firms and financial markets. However, Coronavirus (COVID-19) pandemic is expected to positively impact growth of the global ventilator breathing circuit market during the forecast period. For instance, in April 2020, Philips, a multinational conglomerate corporation and the U.S. government collaborate in ventilator production to increase the production of hospital ventilators in its manufacturing sites in the U.S. to combat COVID-19 pandemic.
Browse 27 Market Data Tables and 25 Figures spread through 165 Pages and in-depth TOC on Global Ventilator Breathing Circuit Market Global Ventilator Breathing Circuit Market , by Product Type (Open type, Semi-open type, Semi-closed type, Closed type), by Application (Anesthesia, Respiratory dysfunction) by Patient Type (Adult, Pediatric) , by Distribution Channel (Hospitals, Ambulatory Surgical Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, And Africa)
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Key Takeaways of the Global Ventilator Breathing Circuit Market:
- Global ventilator breathing circuit market is expected to exhibit a CAGR of 4.1% over the forecast period (2022-2030). North America is expected to account for a major market share over the forecast period (2022-2030), owing to increasing prevalence of cystic fibrosis. For instance, according to Healthline, a U.S.-based provider of health information, August 2019, about 30,000 people in the U.S. have cystic fibrosis per year. Cystic fibrosis affects the respiratory and digestive systems. Symptoms often include chronic cough, lung infections, and shortness of breath.
- Some of the major players operating in the global ventilator breathing circuit market include Armstrong Medical, Fisher & Paykel Healthcare Limited., Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Advin Health Care, Life-O-Line Technologist, Hamilton Medical, Altera, GE Healthcare, Bio-Med Devices, CAE Inc., Medtronic, Great Group Medical Co., Ltd., Vincent Medical Holdings Limited, and Vyaire Medical, Inc.
