Ventilator Market Worldwide Opportunity, Competitive Analysis, and Future Prospects

ALBANY, Calif. - April 17, 2020 - PRLog -- 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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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 hospitals. Portable ventilators are projected to experience the faster growth during the forecast period due to their increasing adoption in homecare settings and ambulances and the rising demand for compatible technologies.

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One of the key factors driving the growth of the ventilator market (https://bit.ly/2KMSZ4d) is the high prevalence of smoking. One of the leading causes of mortality in the world is tobacco smoking as it raises the risk of chronic diseases such as cancer, lung diseases, and cardiovascular diseases. According to the World Health Organization (WHO), smoking causes nearly 10.0% of cardiovascular diseases, about 71.0% of lung cancers, and 42.0% of chronic respiratory diseases. In addition to this, cigarette smoking kills more than 480,000 Americans each year, as stated by the Centers for Disease Control and Prevention.

Hence, the surging incidence of preterm births and increasing prevalence of smoking are driving the growth of the market.