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).
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The major end-users in the ventilator market are hospital, homecare, and ambulatory care settings. The largest share of the market was held by hospitals during the historical period, and these are further expected to hold over 70.0% share of the market by 2022. This is attributed to the availability of trained professionals, large pool of patients, and the financial capabilities of the hospitals to acquire high-end instruments. The homecare category is predicted to grow at the highest CAGR during the forecast period due to improving healthcare reimbursement scenario in Europe and North America.
Hence, the surging incidence of preterm births and increasing prevalence of smoking are driving the growth of the market.
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