The ventilator market will grow at a rate of 7.1% in the years to come, to touch USD 2,887.32 million by 2030. This growth has a lot to do with the increasing cases of chronic diseases, such as COPD and asthma globally.
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Critical care dominated the industry. This is because of the COVID-19 virus, which has affected a lot of global population. This results in the enormous necessity for critical care, because of a lot of hospitalizations.
Smoking is one of the key reasons of COPD. There are a lot of tobacco users in the low or middle-income nations. As per the CDC, cigarette smoking is a major cause of ailment, debility, and death in the U.S., and it causes for over 480,000 fatalities every year.
North America dominated the market with over 30% share, in 2021. This is because of the increasing prevalence of respiratory ailments like bronchitis and asthma.
COPD is perhaps the biggest threat for the people of this region. Likewise, as a result of the advanced healthcare infra in Canada and the U.S., improved ventilator systems are used more often in the region. For example, as per data made available, there were 77,000 ventilators in the hospitals of the country hospitals as of March 2020 and over 8,000 ventilators in the nursing homes of America.
It is due to the increasing count of hospital beds, the demand for ventilators will increase even further by the end of this decade.
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