Non-invasive Ventilation Masks and Circuits Market to Exhibit Healthy CAGR of Over 9%; Surging Demand being Witnessed to Treat COVID-19 Patients
Adoption of non-invasive ventilation masks and circuits will increase due to large procedural benefits that they offer - masks provide an optimal fit, along with minimizing pressure and leakage points.
At present, there is increased demand for non-invasive ventilation masks and circuits due to the growing incidence of coronavirus disease, especially among the elderly population and those suffering from long-term chronic respiratory disorders, which provides an opportunity for manufactures to innovate and increase their product sales.
Increasing collaborations and R&D investments toward developing disposable and reusable consumables, along with a refined distribution network are expected to boost the growth of the non-invasive ventilation masks and circuits market. The market was valued at US$ 2.4 Bn in 2019, and is expected to progress at a CAGR of more than 9% during the forecast period (2020–2030).
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Key Takeaways from Non-invasive Ventilation Masks and Circuits Market Study
“Increasing adoption of non-invasive ventilation masks and circuits due to their large procedural benefits and availability of low-end product in most countries are some of the factors expected to aid the growth of the global non-invasive ventilation masks and circuits market in the coming years,” says a PMR analyst.
Collaborations & Launching of New Products – An Imperative Strategy for Market Players
Market introduction of new, innovative products and collaboration with various larger as well as regional market players are some of the major factors responsible for intense competition among players in the global non-invasive ventilation masks and circuits market. Most companies in this market space are small and medium business enterprises, which limits the competition of market players to specific regions.
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What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the non-invasive ventilation masks and circuits market, in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, based on product (non-invasive ventilation masks, non-invasive ventilation circuits), application (anesthesia, respiratory dysfunction, chronic obstructive pulmonary diseases, pneumonia, others), and end user (hospitals, ambulatory surgical centers, critical care, neonatal intensive care, homecare settings), across seven key regions.
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Jun 28, 2022