Ventilator Market Size, Share, Growth Analysis, By Product Type(Intensive care ventilators, portable ventilators, and neonatal ventilators), By Mobility(Non-invasive ventilation and invasive ventilation), By Type(Adult ventilators, neonatal ventilators, paediatric ventilator), By Mode(Combined-mode ventilation, volume-mode ventilation, pressure-mode ventilation, and others), By End user(Hospitals, ambulatory surgery centres, speciality clinics, long term care centres), By Region - Industry Forecast 2024-2031

Ventilator 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).

The market growth is attributed to rising technological advancements such as development of advanced portable ventilators and improvements in the sensor technologies used in them, increasing preterm births, increasing geriatric population, increasing prevalence of respiratory diseases, and increasing number of ICU beds. Growing home healthcare has opened new opportunities for the ventilator market as homecare environment is comfortable and convenient and also cost-effective.

Major improvements in the treatment of patients with severe respiratory complications have been made possible by technological advancements in microprocessor-controlled ventilation combined with the complexity of new ventilator modes. Upgraded ventilators have many safeguards in place and are prepared for any kind of emergency. There are sensors and monitors for both patient-specific parameters like air pressure, air volume, and flow rate as well as general parameters like air leakage, mechanical failure, power failure, battery backups, oxygen tanks, and remote control.

US Ventilator Market is poised to grow at a sustainable CAGR for the next forecast year.