![Global Ventilator Market](https://res.cloudinary.com/devmoveo/image/upload/v1673858011/skyquest/gallery/imgnf50jhnibapje4hiy.jpg)
Report ID: SQMIG35A2176
Report ID:
SQMIG35A2176 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
146 |
Figures:
78
Ventilator Market Drivers
The increasing prevalence of respiratory diseases such as chronic obstructive pulmonary diseases, sleep apnea, acute lung injury, and hypoxemia are the major factor that drives the global ventilator market. In addition, increasing geriatric population, growing preterm births are also expected to drive the market growth. Moreover, high prevalence of tobacco smoking which leads to respiratory diseases also boosts the market growth.
Home healthcare provides convenience and comfort coupled with cost advantages which boost the market. The demand for home healthcare is increased due to increasing healthcare infrastructure and rising disposable income, thus acting as a significant driver for the market growth.
Ventilator Market Restraints
The undiagnosed and undertreated patients are increasing rapidly due to low awareness among the people regarding respiratory diseases. The increasing number of untreated patients for respiratory diseases will hinder market growth.
The risk associated with the use of mechanical ventilator could stop the industry expansion. There is potential of infection from germs entering through the artificial airway, more mechanical breathing is required. Lung injuries can also occur as a result of repeated opening and closing of the lungs’ tiny air sacs. Hence, the risks associated with the use of ventilator devices hindered market growth.
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REQUEST FREE CUSTOMIZATIONVentilator Market size was valued at USD 3.67 billion in 2019 and is poised to grow from USD 3.9 billion in 2023 to USD 6.36 billion by 2031, growing at a CAGR of 6.3% in the forecast period (2024-2031).
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Report ID: SQMIG35A2176