5 Fastest Growing Industries in the World

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1. Respiratory Ventilator Manufacturing

Revenue Growth 2019-2020: 54.8%

Respiratory ventilator manufacturing is our top industry for our list of 15 fastest growing industries in the world, with a growth rate of 54.8% in the past year. This industry is the top choice by a very wide margin, and this incredible surge in demand is attributed to the Covid-19 pandemic. A significant percentage of Covid-positive patients experience a decline in respiratory function, of which some develop critical symptoms requiring respiratory ventilators to assist them in breathing. Due to the increased demand for an urgent and constant supply of respiratory ventilators, the average-sized industry of respiratory ventilator manufacturing is experiencing a huge boom. The company ResMed Inc (NYSE: RMD) stock gained 35.6% against the 6.5% fall of its industry over the past year. Even companies like Dyson in the United Kingdom, which famously produces vacuum cleaners, reconfigured their manufacturing product line in just ten days to begin producing ventilators. With cases still rampant, this industry does not seem to be dying down anytime soon.

See also: 7 most profitable businesses with least investment and 10 most profitable industries in the world in 2020

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