Majid Qaddumi, President of the Middle East and Africa Region at Medtronic Company, stated that the size of the industrial respirator industry around the world ranges between 80 to 90 thousand devices each year with a value ranging between 1.5 billion and two billion dollars annually.
According to ArabiaNet, Kaddoumi, whose company is one of the largest manufacturers of respirators, said that the Middle East’s share of these devices reaches approximately 7%.
And he expected that the number of respiratory devices present in the world currently would range between 500 to 700 thousand devices, indicating that some countries use one device for five years, while the duration of its use in other countries reaches 10 years.
He pointed out that the world needs 880,000 respirators today, which increases the capacity of all manufacturers of these devices.
He stressed that this matter opened the door for companies from other sectors to manufacture respirators. He noted that his company, in partnership with Tesla, produced ventilator units and was supplied to New York.
He explained that his company dropped the intellectual property rights from one of the basic respiratory devices, to allow non-specialized companies to manufacture the device.
He stressed that the production of respirators significantly during the current period will not affect the future demand of respirators, as some countries will carry out strategic storage.
He pointed out that the current crisis will lead to an increase in investments by countries and companies in the pharmaceuticals, medicines and medical devices.
