Ventilator Market Overview
The ventilator industry garners $1,560.30 million revenue, and is projected to contribute $2,887.32 million revenue in 2030, rising at a rate of 7.1%. It is led by the growing prevalence of chronic diseases such as asthma, and chronic obstructive pulmonary disease across the world.
Ventilator Market Share
In addition, the industry is projected to rise in the coming years, due to increasing incidences of preterm births, a surging elderly population, a rising number of ICU beds, and a growing number of COVID-19 patients.
Ventilators are also known as breathing machines. They help the lungs to work effectively. It serves as a lifesaving machine if you have developed a disease that makes breathing difficult on your own.
Ventilators serve as breathing aids and are widely used in healthcare facilities, including nursing homes, hospitals, private residences, and long-term care institutions. Severe COVID-19 patients at high risk of respiratory failure can be benefitted effectively through ventilators.
Ventilator Market Trends
The major advantages of ventilators include weaning, improved oxygenation, and lesser damage to the lungs are projected to boost the industry revenue.
In addition, ventilators have transformed effectively with technological developments, such as advancements in ventilator sensor technologies, and the development of portable ventilators.
Moreover, the rising demand for home healthcare services provides better opportunities to industry players. The home healthcare ventilator demand is rising, due to the convenience offered them and low cost.
Ventilator Market Growth
The invasive ventilator captures the largest share of the industry, accounting for over 60%. It is owed to the rising number of ICU beds equipped with ventilators, increasing incidences of respiratory diseases, and surging cases of surgical procedures. Besides this, the rise in hospital admissions, more specifically due to COVID-19 propels the industry.
Invasive ventilators are major components integrated into the ICUs and emergency rooms for the treatment of ill patients. In addition, the devices provide ease of breathing to patients and are crucial for delivering emergency medical services and providing a guarantee to patients for early recovery.
Ventilator Market Research Report
Types of Ventilators
Face Mask Ventilators: Face mask ventilators are painless. On several conditions, the face mask ventilator is sufficient for stabilizing the condition. Those who struggle to breathe independently may need mechanical ventilation.
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