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Rising Preference for Home-based Care, Aided by Remote Monitoring Technologies, to Drive New Growth Opportunities
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Revenue for the US & EU-5 ventilators market is expected to increase by 370.7% in 2020 driven by the ongoing Coronavirus 2019 (COVID-19) situation. The home care segment is expected to see a comparatively strong growth potential post-pandemic. This study assesses the revenue growth impact on different ventilator market segments. It also analyzes future growth opportunities for industry participants in light of the following strategic imperatives – geopolitical chaos due to the pandemic situation and the increasing number of critical care patient admits requiring ventilator use; adoption of disruptive technologies for ventilator designs and assistive technologies; and increasing competition due to the widening demand-supply gap and relaxed regulations. Further, this study provides an evaluation of 9 different growth opportunities from the perspectives of supply chain optimization, technology focus, vertical expansion, customer and branding, new product development and others. Three examples of key growth opportunities evaluated are:• Remote ventilator surveillance for better care management,• Strategic geographic expansion for improving market access, and• Targeted brand positioning for improved market penetrationSupply chain disruption, excess of low-cost and sub-standard ventilators, and shortage of trained healthcare staff are seen as key market restraints.Author: Kaustubh Suresh Savant
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