Saudi Arabia Mechanical Ventilator Market
Saudi Arabia Mechanical Ventilator Market Size Set to Grow at Significant CAGR of 8% to Cross USD 161.5 Million by 2029
Published | 19 September 2023
Saudi Arabia mechanical ventilator market is flourishing due to an increasing demand for mechanical ventilators owing to a rising number of critical care patients, advancements in healthcare infrastructure, growing awareness about respiratory diseases, and government initiatives to improve healthcare facilities and combat pandemics, such as COVID-19.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia mechanical ventilator market size at USD 102.72 million in 2022. During the forecast period between 2023 and 2029, Saudi Arabia mechanical ventilator market size is to grow at a robust CAGR of 8% reaching a value of USD 161.56 million by 2029. The mechanical ventilator market in Saudi Arabia showed a strong development trend. The COVID-19 pandemic raised the need for mechanical ventilators, which led to higher investments in the hospital system. Manufacturers concentrated on advancements like sophisticated, portable ventilators with intelligent functions. Government programs and public-private partnerships are designed to strengthen the healthcare system and improve the capacity for critical care. A growing aging population and increased knowledge of respiratory disorders also had a role in the market's expansion.
Saudi Arabia Mechanical Ventilator Market – Overview
A mechanical ventilator is a critical medical device used to assist patients with breathing difficulties or respiratory failure. It delivers oxygen-enriched air into the lungs and removes carbon dioxide. The machine ensures adequate oxygenation and ventilation by controlling air pressure and volume. It is employed in various settings, such as intensive care units, emergency rooms, and during surgeries. Mechanical ventilators can be invasive (via an endotracheal tube) or non-invasive (via a mask). These life-saving devices provide crucial respiratory support to patients, optimizing lung function and allowing time for the underlying condition to improve, aiding recovery, and saving lives.
Impact of COVID-19 on Saudi Arabia Mechanical Ventilator Market
The COVID-19 pandemic significantly impacted the Saudi Arabia mechanical ventilator market. With the surge in cases, there was an unprecedented demand for ventilators to treat severe respiratory issues caused by the virus. The market experienced a substantial increase in production and distribution to cater to the overwhelming need for life-saving medical equipment. Thus, local and international manufacturers experienced growth opportunities. However, the pandemic also highlighted the importance of enhancing domestic manufacturing capabilities to ensure self-sufficiency in medical equipment. This crisis emphasized the need for better preparedness and resource allocation in the healthcare sector to combat future public health emergencies.
Saudi Arabia Mechanical Ventilator Market – By End Use
By end use, Saudi Arabia mechanical ventilator market is divided into Hospitals and Home Healthcare segments. The hospitals segment is a higher contributor to the growth of Saudi Arabia mechanical ventilator market. Hospitals are the primary recipients of medical equipment, including mechanical ventilators, due to their critical role in managing patients with respiratory issues and other critical care needs. The demand for mechanical ventilators in hospitals is driven by an increasing number of patients requiring intensive care, surgical procedures, and treatments for various respiratory illnesses. Additionally, the government's focus on enhancing hospital infrastructure and facilities also contributes to the dominance of the Hospitals segment in the Saudi Arabia mechanical ventilator market.
Saudi Arabia mechanical ventilator market is fiercely competitive. Major companies in the market include Medtronic, Abbott, Boston Scientific Corporation, BIOTRONIK SE & Co. KG, MicroPort Scientific Corporation, Koninklijke Philips N.V., Stryker, ZOLL Medical Corporation (Asahi Kasei), Shenzhen Mindray Bio-Medical Electronics Co. Ltd, and Nihon Kohden Corporation. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Saudi Arabia mechanical ventilator market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia Mechanical Ventilator Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Mechanical Ventilator Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Saudi Arabia Mechanical Ventilator Market, By Product (Critical Care (Ventilators, Accessories), Neonatal (Ventilators, Accessories), Transport & Portable (Ventilators, Accessories)); By Ventilation Mode (Invasive, Non-invasive); By End Use (Hospitals, Home Healthcare), Competitive Landscape & Forecast, 2019–2029
Publish Date: September 2023
Growing focus on the prevention and management of increasing prevalence of respiratory diseases and provide critical care support, expanding healthcare infrastructure, rapidly aging population, and a surging demand for advanced medical technologies to combat respiratory illnesses are expected drive the growth of Saudi Arabia Mechanical Ventilator Market during the forecast period between 2023 and 2029.
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