Surging Incidence of Respiratory Diseases Driving Ventilator Market

A number of factors such as the surging incidence of respiratory disorders, increasing healthcare expenditure, growing urbanization rate, rising pollution level, and mounting adoption of home healthcare solutions are expected to drive the growth of the ventilator market at a CAGR of 7.7% during the foreseeable period (2016–2022). According to P&S Intelligence, the market size is expected to reach $1.0 billion by 2022 from $638.7 million in 2015. It is a mechanical life support equipment that helps patients in breathing and is used in cases of cardiac insufficiency and neurological dysfunction.

The surging healthcare expenditure is one of the main factors boosting the growth of the ventilator market. Governments across the world are making hefty investments in the healthcare sector for the improvement of medical facilities for the people. Moreover, the surge in the incidence of chronic diseases drives the healthcare expenditure, which helps in improving accessibility to diagnostic and treatment facilities. This is leading to the increasing need for essential medical products, such as ventilators.

Based on end user, the ventilator market is categorized into home care, hospitals, and ambulatory care. Out of these, the hospitals category dominated the market during the historical period, and it is also expected to maintain the lead in the coming years. This is attributed to the surging pool of patients visiting hospitals for the management of various diseases, such as acute lung injuries, sleep apnea, and hypoxemia. However, the home care category is expected to witness the fastest growth during the forecast period.

Geographically, North America leads the ventilator market, and it is projected to account for the largest market share in the coming years as well. This is due to the increase in incidence of respiratory illnesses, rise in geriatric population, and high healthcare expenditure. Moreover, in the regional market, the U.S. accounts for a larger revenue share, owing to the rising incidence of tobacco smoking in the country.

Thus, the surging incidence of respiratory disorders and the increasing healthcare expenditure across the world are projected to propel the market growth in the coming years.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings

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