Market drivers

The growing geriatric population globally is a major driver for the mechanical ventilators market. According to the UN, the number of people aged 65 or older is projected to grow from 703 million in 2019 to 1.5 billion in 2050. The aged population is more prone to respiratory illnesses that require ventilation support. Secondly, the rising prevalence of respiratory diseases such as COPD, asthma, and lung cancer is fueling the demand for ventilators. According to WHO, 65 million people have moderate to severe COPD. Moreover, COVID-19 pandemic outbreak has majorly driven the demand for ventilators worldwide. Ventilation is a primary clinical intervention for critically ill COVID-19 patients. Governments and organizations launched various programs to boost ventilator production during the pandemic.

Impact of geopolitical situation on the mechanical ventilators market growth and geographical regions

The ongoing geopolitical conflicts and international relations have significantly impacted the demand and supply chain of the Mechanical Ventilators Market Demand  globally. The Russia-Ukraine war that started in early 2022 has disrupted the supply of key raw materials like coal, nickel, palladium, and aluminium which are crucial for the production of ventilators. This has hampered the manufacturing output of major players in Europe. Similarly, economic sanctions on some countries and trade restrictions imposed due to political tensions have made international transportation and logistics challenging. This is hindering just-in-time manufacturing and export/import of ventilators between nations.

The pandemic also exposed vulnerabilities in the healthcare infrastructure of many developing and underdeveloped regions. This has accelerated healthcare reforms and increased government funding for critical care equipment in Middle East, Africa, South Asia and Latin America. However, ongoing conflicts and political instability in some parts of these regions continue to pose challenges. Overdependence on few global players makes these markets highly susceptible to external supply issues due to regional conflicts. Diversifying manufacturing and sourcing strategies across politically stable nations would help create redundancies.

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