Ventilator Market Potential and Niche Segments, Geographical Regions Exhibiting Promising Growth
The global ventilator market is expected to attain a value of more than $1.0 billion by 2022, growing at a CAGR of 7.7% during the forecast period (2016–2022). The growth of the market is attributed to the rising incidence of preterm births, healthcare expenditure, prevalence of smoking and respiratory diseases, and geriatric population, along with rapid urbanization, increasing pollution level, and changing lifestyle. A ventilator, a machine that assists in breathing, is used primarily in hospitals for the treatment of sleep apnea, hypoxemia, acute lung injury, and chronic obstructive pulmonary disease (COPD). Based on product type, the ventilator market is categorized into portable and intensive care ventilators. The intensive care ventilator category held the larger share of the market during the historical period (2012–2015). The category is further predicted to hold a market share of 56.0% by 2022 due to the increasing prevalence of respiratory diseases and rising number of ...