According to MRFR analysis, Global Mechanical Ventilators Market is expected to register a CAGR of 4.3% during the forecast period of 2020 to 2027 and accounted for USD 2,546 Million in 2019.
However, the high cost associated with the mechanical ventilators and product recalls is likely to hamper the growth of the global mechanical ventilators market during the forecast period.
The growth of the global mechanical ventilators market is determined by numerous factors such as an increasing geriatric population, technological advancements, and a rise in the incidence of respiratory emergencies.
The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas has been segmented into North America and Latin America, with the North American market being divided into the US and Canada. The Americas are projected to hold the largest market share owing to the increasing number of older populations, increasing covid-19 cases, and the growing presence of major market players.
The European mechanical ventilators market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.