The global ventilator market was valued at $638.7 million in 2015, and it is expected to grow at a CAGR of 7.7% during 2016 - 2022. The growth of the global market is largely driven by increasing level of air pollution across the globe and growing geriatric population.
Some of the other factors driving the growth of the global market include increasing prevalence of respiratory diseases, changing lifestyle, rapid urbanization, increasing healthcare expenditure, and high prevalence of tobacco smoking. Growing demand for home care therapeutic devices and high growth in developing countries are expected to create ample opportunities for the manufacturers of ventilators.
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Ventilator assists patients to breath, or takeover the breathing function completely, depending upon the needs of the patient. It does not treat a disease but is used as life support.
It is indicated in respiratory failure conditions cardiac insufficiency and neurological dysfunction conditions.
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Among the two types of ventilators, the portable ventilators would witness faster growth during the forecast period. Growing geriatric population, wider application of portable ventilators such as home care and ambulatory care, and increasing demand for home healthcare are the major factors driving the growth of the portable ventilator market.
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The information and data in the publication “Global Ventilator Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. An amalgamation of bottom-up and top-down has been used to calculate the market size.
P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Among the different end users, the largest revenue was generated from the sales of ventilators in hospitals in 2015. It is mainly used in hospitals for the treatment of sleep apnea, acute lung injury, hypoxemia and obstructive pulmonary disease.
The global ventilator market for home care is expected to grow at a CAGR of 8.4% during 2016 – 2022.
Some of the players operating in the global ventilator market include ResMed, Inc, General Electric Company, Hamilton Medical AG, Koninklijke Philips N.V, Becton, Dickinson and Company, and Medtronic plc.
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