Vietnam Portable Ventilator Market
Vietnam Portable Ventilator Market Size to Grow at Steady CAGR of 6.3% During 2023–2029
Published | 24 January 2023
Vietnam portable ventilator market is gaining traction because of the increased government spending on healthcare and the rising prevalence of respiratory disorders, particularly among the elderly people.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the Vietnam portable ventilator market size to grow at a CAGR of 6.3% during the forecast period between 2023 and 2029. Vietnam portable ventilator market is expanding rapidly as a result of both increased government spending on healthcare development and the rising frequency of different respiratory disorders, particularly among the elderly population. In order to enhance and incorporate technical improvements into their goods, portable ventilator manufacturing businesses are also investing more money in research and development efforts. They are introducing their goods into Vietnam, which has the potential to increase the portable ventilator industry in the coming years.
Vietnam Portable Ventilator Market – Overview
Compact devices called portable ventilators are made to supply mechanical ventilation in places where piped gasses and main electricity are not accessible. The ability of portable transport ventilators to reduce the risk of ventilator-induced lung damage while maintaining ventilation objectives through the control and constant monitoring of tidal volumes and airway pressures makes them preferable to manual ventilation. Ventilators must have dependable batteries in order to qualify as life-supporting devices, and the majority of life-supporting portable ventilator manufacturers assert that their products have a battery life of more than 8 hours when taking both internal and external batteries into account.
Vietnam Portable Ventilator Market – By Product
Based on product, the Vietnam portable ventilator market is segmented into systems and consumables. The portable ventilator systems segment holds a higher share of the portable ventilator market as well as registering high demand from the Vietnamese market. Patients who do not require sophisticated critical care ventilators, offer long-term assistance. These portable ventilators typically use a motor-driven piston or a turbine to pump air into the breathing circuit. O2 is often given directly into the breathing circuit in the home environment from a different source, such as an O2 tank.
Impact of COVID-19 on Vietnam Portable Ventilator Market
The COVID-19 pandemic boosted the growth of the Vietnam portable ventilator market. Ventilators played a crucial role in COVID–19 affected patients. Patients who have severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infection and acute hypoxemic respiratory failure commonly require non-invasive ventilation (NIV) or invasive mechanical ventilation (MV). As a result, the demand for portable ventilators, especially in temporary healthcare facilities, spiked. Vietnam also witnessed the first locally manufactured ventilator from Vingroup, which is producing ventilators at USD 7,000 apiece. All these factors are also expected to boost the growth of Vietnam portable ventilator market during the post-COVID–19 period as well.
Competition in Vietnam portable ventilator market is intense. Major players in the market include Dyson, Weinmann, Becton Dickinson, Philips, Hamilton Medical, Fisher & Paykel Healthcare, Draeger, Medtronic, GE Healthcare, ResMed, and Teleflex. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Vietnam Portable Ventilator Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Vietnam Portable 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.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
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