The outbreak of coronavirus (COVID-19) has affected almost every industry, either positively or negatively. This major healthcare concern has put a serious impact on the healthcare sector, including the personal hygiene industry, healthcare equipment, and pharmaceutical industry. As COVID-19 targets lungs and certainly cause complications such as acute respiratory distress syndrome and pneumonia; therefore, the ventilators are needed to deliver enough oxygen from the lungs to other parts of the body. However, with the increasing number of coronavirus cases across the globe, fear is growing among the healthcare professionals and the government over the shortage of ventilators. Earlier to the outbreak of the COVID-19 pandemic, ventilators are used for the patient diagnosed with respiratory disease. Besides, it is widely used for surgical procedures at the intensive care units and in ambulances. Growth in the prevalence of respiratory diseases, an increasing number of ambulances, and development of healthcare infrastructure all across the globe was raising the market size earlier to the pandemic.
Healthcare systems of most of the countries were not prepared for any such pandemic. When the coronavirus spread globally with an exponential growth rate, an urgent need for thousands of ventilators arises in each affected country. The governments of most of the nations have placed orders for thousands of ventilators in order to fulfill the requirements of the hospitals. Ventilator manufacturing companies are working at their full capacity. Moreover, several other companies’ especially automotive companies have also developed ventilator prototypes and ramp up their production on their vehicle assembly lines after getting approval from the medical authorities.
Support from automotive industry for ramping up of ventilator production
The broadening of the COVID-19 pandemic, the ventilator manufacturers have ramped up capacity, production of ventilators. On March 18, 2020, Medtronic announced to increase the production of ventilators in order to address the COVID-19 pandemic. The company is expected to increase the ventilate production by nearly 40% and is on track to double its capacity and production to supply ventilators in response to the imperative needs of healthcare systems across the globe confronting coronavirus. Along with Medtronic, General Electric Co., Hamilton Medical, Ventec Life Systems, Inc., and Breas Medical AB are on the same path and have announced the ramp up off their ventilator production facilities during this situation.
The inevitable shortage of ventilators due to the rapidly spreading of COVID-19 has urged for the production of creative new solutions, with which, the world’s automotive manufacturers are trying their luck in the manufacturing of ventilators for this global pandemic. On March 22, 2020, the Government of the US has given a green light to General Motors, Tesla, and Ford, regarding the production of ventilators. Similarly, several other automobile manufacturers have ramped up the production of ventilators to fulfil its need on the home grounds. For instance, Fiat Chrysler and Ferrari are planning to boost the production of ventilators for the increasing spread of COVID-19 in Italy. Likewise, on March 22, 2020, Mahindra Group announced to break new ground in the ventilators industry, to cater to the increasing demand for ventilators in India and across the globe.
OMR Global recently published report on https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-ventilators-market
The Report Covers-
- Historical market growth estimation of ventilators industry excluding COVID-19 pandemic effect
- Deviations in the ventilators industry growth rate due to COVID-19 pandemic
Market Segmentation
By Ventilator Type
- Portable Ventilators
- Intensive Care Ventilators
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/impact-of-covid-19-on-ventilators-market
Company Profiled
- Breas Medical AB
- Drägerwerk AG & Co. KGaA
- Ford Motor Co.
- General Electric Co.
- General Motors Co.
- Hamilton Medical
- Koninklijke Philips N.V.
- Mahindra Group
- Medtronic PLC
- Tesla, Inc.
- Ventec Life Systems, Inc.
