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With 5.0% CAGR, Ventilator Market Size to Surpass USD 9.13 Billion by 2027

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Pune, India, Feb. 02, 2023 (GLOBE NEWSWIRE) — The global Ventilator Market size was valued at USD 2.54 billion in 2019. The market is expected to reach USD 9.13 billion in 2027 with a CAGR of 5.0% during the forecast period. In 2019, North America generated US$ 0.88 billion in terms of revenue. The ventilators market size is estimated to gain momentum on account of the increasing number of ICU admissions that require mechanical ventilation. Fortune Business Insights™ shares this information in its report titled “Ventilator Market Forecast, 2023-2027.”

Key Industry Developments of the Market Include:

Getinge AB announced the U.S. FDA approval for a number of software for Servo–u and Servo-n ventilators. Also, the company received the U.S. marketing approval of Servo-u MR from U.S. FDA. This helped the company to broaden product line and strengthen its brand name.

RespirAD portable ventilator was launched by Biodesign Innovation Labs for taking care of coronavirus patients.

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Report Scope:

Report Coverage Details
Forecast Period 2020 to 2027
Forecast Period 2020 to 2027 CAGR 5.0%
2027 Value Projection USD 9.13 Billion
Base Year 2019
Market Size in 2019 USD 2.54 Billion
Historical Data 2016 to 2018
No. of Pages 135

Key Takeaways

  • The demand for critical care equipment is very high due to the growing number of patients requiring urgent care.
  • Another important factor affecting the market is the increased number of ICU admissions due to COVID-19.
  • Introduction of technologically advanced devices by key market players increases demand, thus fostering growth.
  • Asia Pacific is expected to have a significant CAGR during the forecast period.
  • The increasing number of preterm births is driving demand for pediatric ventilators and will help this segment grow to an important CAGR.

Drivers & Restraints-

Advent of New Mechanical Ventilators will Add Impetus to Market

A ventilation machine provides artificial or mechanical respiration to a patient suffering from any chronic disease. The current COVID-19 pandemic has also increased the number of patients requiring intensive and critical medical aid. The World Health Organization (WHO) reports an estimate of about 4.7 million people suffering from COVID-19 all over the world as per May 18, 2020. Therefore, a rise in the number of critical care unit cases is a significant factor in propelling the ventilator market growth. In addition to this, the rising disposable incomes of people and their willingness to spend more on advanced healthcare services have encouraged the improvement and up-gradation of healthcare infrastructure and medical facilities. This is also adding impetus to the market.

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Segment:

Adult Segment to Emerge Dominant Attributed to High Prevalence of Chronic Diseases among Adult Population

Based on segmentation by type, the market is bifurcated into adult and paediatric & neonatal segments. Among these, the adult segment earned the highest ventilator market share in 2019. This is accountable to the high prevalence of chronic diseases among adults as compared to their younger counterpart.

Invasive Segment to Emerge Dominant Attributed to their applications in ICU with chronic diseases

Based on segmentation by interface, the market is segmented into invasive and non-invasive segments. Among these, the invasive segment held a dominant share in 2019. This is accountable to the rising application of invasive ventilator in ICU’s for the patients admitted with chronic respiratory diseases, neurological disorders and others.

Competitive Landscape-

Dominant Players Focusing on Developing Novel Technologies for Advanced Ventilators

Currently, Hamilton Medical AG, Medtronic, Koninklijke Philips N.V., and Getinge AB are holding 40% or more shares in this market. This is owing to their strong focus on research and development of novel technology in the advanced ventilators. Other players are engaging in mergers and acquisitions, joint ventures, collaborations, and others to maintain their positions in the market.

Quick Buy – Ventilator Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/103257

Regional Analysis-

North America Emerged Dominant Accountable to Highest Number of Critical Care Patients

Regionally, North America generated USD 0.88 billion in terms of revenue in 2019 and emerged dominant. Factors responsible for this dominance include the rising number of patients admitted to intensive care and critical care units every year. Additionally, the reimbursement policies offered by the governments of Canada and the U.S. are also aiding in the expansion of this regional market.

On the other side, the second-largest market share is earned by Europe on account of the increasing adoption of mechanical ventilation support systems. Furthermore, Asia Pacific is likely to exhibit significant growth in the coming years on account of a rise in the development of healthcare infrastructure, increasing disposable incomes of people, and their willingness to spend on better medical facilities.

List of the manufacturers operating in the market:

  • GE Healthcare
  • Hamilton Medical AG
  • Vyaire Medical, Inc.
  • Medtronic
  • Koninklijke Philips N.V.
  • Drägerwerk AG & Co. KGaA
  • Getinge AB
  • Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
  • Other vendors

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Table of Contents

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Prevalence of Chronic Dieses, By Key Region/ Key Countries, 2019
    • Number of ICU Beds, by Key Region/ Key Country
    • Technological Advancements, Ventilator
    • New Product Launches, By Key Market Players
    • Key Industry Developments such as Mergers & Acquisitions
    • Impact of COVID-19, on Global Ventilator Market
  • Global Ventilator Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Adult
      • Paediatric & Neonatal
    • Market Analysis, Insights and Forecast – By Interface
      • Invasive
      • Non-invasive
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals
      • Specialty Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Latin America
      • Middle East & Africa
  • North America Ventilator Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Adult
      • Paediatric & Neonatal
    • Market Analysis, Insights and Forecast – By Interface
      • Invasive
      • Non-invasive
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals
      • Specialty Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Country
      • U.S.
      • Canada
  • Europe Ventilator Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Type
      • Adult
      • Paediatric & Neonatal
    • Market Analysis, Insights and Forecast – By Interface
      • Invasive
      • Non-invasive
    • Market Analysis, Insights and Forecast – By End User
      • Hospitals
      • Specialty Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Country/ Sub-region
      • U.K.
      • Germany
      • France
      • Spain
      • Italy
      • Scandinavia
      • Rest of Europe

TOC Continued…………….

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About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
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UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms

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MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.

SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]

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Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow

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Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.

Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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ScreenPoint Medical Leadership Transition: Pieter Kroese Confirmed as CEO

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Leading Breast AI Company, creator of industry-leading Transpara®, promotes from within for new CEO
NIJMEGEN, Netherlands, April 25, 2024 /PRNewswire/ — ScreenPoint Medical, today announced a significant transition in its leadership as Mark Koeniguer, the current CEO, steps down from his position. Mark served as CEO since 2022 and was instrumental in ScreenPoint’s commercial growth and success over the past 2 years.

 
 
The company’s Board of Directors has appointed Pieter Kroese as the new Chief Executive Officer effective April 25, 2024. Pieter takes the role after serving as COO of ScreenPoint for over five years. During that time, he has managed the transition of the company from an early startup to a thriving enterprise with hundreds of customers using ScreenPoint’s flagship Transpara software to support millions of scans a year.
“I am thrilled to lead ScreenPoint into its next phase of growth and innovation,” said Mr. Kroese. “I am deeply committed to building upon the strong foundation we have and continuing to work closely with our talented team to drive continued success. We are already expanding screening capacity and capability through proven reader support – we look forward to increasing our ability to support providers and women moving forward.”
Sir Michael Brady, Chairman of the Board at ScreenPoint Medical and a co-founder of the company, expressed enthusiasm about Pieter’s appointment, stating, “Pieter’s remarkable leadership qualities, coupled with his depth of knowledge of our product and industry, make him the perfect choice to lead ScreenPoint into the future. His strategic mindset and commitment to excellence align perfectly with our company mission of early breast cancer detection. Pieter has been an integral part of our growth to date and will provide seamless leadership through this transition into our next chapter for our customers, partners, and team.”
Author of “No Longer Radical” and over a hundred peer-reviewed publications on breast imaging, Dr. Rachel Brem is a Transpara user and ScreenPoint Board Member. Dr. Brem welcomed Mr. Kroese with the following: “Pieter has been an integral part of the ScreenPoint team for years. I am confident that his leadership will continue to deliver product excellence: earlier detection with outstanding reading workflow and improved patient outcomes. We continue to see these results from clinical sites all over the world, including many here in the United States. No other Breast AI solution has demonstrated the same results as Transpara, and I am confident that the team will continue to push on these frontiers under Pieter’s leadership.” 
The entire team at ScreenPoint extends its gratitude to Mark Koeniguer and wishes him every success in the future, while warmly welcoming Pieter Kroese into his new role as CEO.
About ScreenPoint Medical
ScreenPoint Medical translates cutting edge machine learning research into technology accessible by radiologists to improve screening workflow, decision confidence and breast cancer risk assessment. Transpara is trusted by radiologists globally because it has been developed by experts in machine learning and image analysis and updated with user feedback from world-renowned breast imagers.
See all the proof at: https://screenpoint-medical.com/evidence.
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