According to our latest study on “Respiratory Care Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – Product, Indication, and End User,” the market is expected to grow from US$ 18,114.31 million in 2021 to US$ 32,761.82 million by 2028; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028. The report highlights the major factors driving the respiratory care devices market and prominent players and their developments.

Top Companie Analysis of Respiratory Care Devices Market
Koninklijke Philips N.V.
ResMed Inc
Medtronic
Masimo
THERMO FISHER SCIENTIFIC INC.
Dragerwerk AG & Co. KGaA
Invacare Corporation
Getinge AB.
Nihon Kohden Corporation
Air Liquide
Teleflex Incorporated

The challenge was to produce 10,000 medical ventilators for National Health Service (NHS) under the twin codenames Project Oyster and Project Penguin. Ventilator Challenge UK was a consortium of 14 firms, such as Ford, Haas, McLaren, Mercedes-AMG, Red Bull, Racing Point, Renault, and Williams F1 teams. Non-automotive firms included Airbus, BAE, Dell, GKN, Microsoft, Siemens, and Rolls-Royce. Before the VentilatorChallengeUK, the Britain government had 8,175 ventilators but had turned to British industry to help produce 30,000 ventilators in a matter of weeks to combat an expected surge in new cases.

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In 2020 and 2021, many hospitals ran out of ventilators due to the rapid spread of SARS-CoV-2 variants and drastically rising number of cases, which was one of the reasons that caused pneumonia and troubled breathing among patients. Thus, the demand for ventilators increased significantly with the surging cases of COVID-19 in these years. As India faced the second wave of the COVID-19 pandemic in 2021, the Indian Space Research Organisation (ISRO) developed three types of ventilators and offered to transfer the technology to other companies in the medical device manufacturing industry for clinical use. Also, NASA granted licenses to three Indian companies to manufacture its in-house developed ventilators to treat COVID-19 patients.

Further, over 800 ventilators were provided for COVID-19 relief efforts in India by the Philips Foundation, Prosus, Johnson Foundation, and the Johnson & Johnson Family of Companies in June 2021. Therefore, increased production by the companies resulted in profits, and the COVID-19 outbreak has positively impacted the respiratory care devices market growth.

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