COVID-19 to drive ventilators market in South Korea to USD 50 million by 2030

The growing demand for ventilators to treat COVID-19 cases is set to drive South Korea’s ventilators market, which is expected to grow at a compound annual growth rate of 8.9 percent to reach USD 50 million by 2030, according to GlobalData. South Korea reported its first COVID-19 case in January 2020, and a quick ascent in COVID-19 cases in February has created an unprecedented need for essential medical devices, such as ventilators and personal protective equipment. To meet the growing demand, South Korea has not only imported ventilators, but also approached manufacturers to increase the production.