MarkNtel Advisors has recently published a research report, according to which the Global Ventilator Market is anticipated to expand at a CAGR of around 13% during the forecast period, i.e., 2023-28. Such projection is said to be backed by factors such as the rising prevalence of chronic & acute respiratory disorders, especially after the COVID-19 pandemic that has called for a subsequent increase in ICU admissions. Our report aims to provide valuable insights and assist clients in navigating the Global Ventilator Market, addressing key concerns pertinent to this industry. Our comprehensive approach aims to help them make informed decisions and thrive in this evolving landscape.
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The global adoption of non-invasive ventilation (NIV) interfaces is experiencing a rapid increase, significantly contributing to the overall growth of the ventilator market. In contrast to invasive ventilation methods, NIV offers ventilator support without the use of tracheostomy or endotracheal tubes.
Technological advancements have made non-invasive ventilators more portable and efficient, enhancing their accuracy and reliability in diagnosing respiratory illnesses. The increasing prevalence of conditions like COPD, asthma, and pneumonia, coupled with advancements in diagnostic tools, has led to improved diagnostic rates for these respiratory conditions. Consequently, the demand for NIV oxygen systems, including non-invasive positive pressure ventilation (PPV) and high-flow nasal cannula oxygen delivery, is experiencing a significant surge. This trend is fueling the overall growth of the global ventilator market.
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The global market for Intensive Care ventilators dominates due to increased adoption in hospitals, fueled by rising ICU admissions post-Covid-19. Offering invasive and non-invasive modes with advanced monitoring, these ventilators are crucial in healthcare settings. Government investments in healthcare infrastructure worldwide contribute to growing demand, driven by the surge in cardiac ailments and respiratory emergencies. Simultaneously, portable ventilators gain traction globally, enhancing patient safety in home care and ambulatory settings. Continuous technological advancements, such as improved design and monitoring systems, propel the demand for portable ventilators, promising lucrative prospects for the ventilator market in the future.
Thanks to the top-tier medical facilities, substantial investments in healthcare, and a rising incidence of chronic respiratory ailments like asthma and COPD, the region is likely to witness expansion. Other than these, the market experiences a notable boost due to escalating research funds, swift technological advancements in healthcare apparatus and treatments, and the robust presence of leading manufacturers introducing innovative products and enhancing their offerings.
The well-established healthcare infrastructure in the United States and Canada contributes to the introduction and widespread adoption of advanced ventilator systems in North America. The region benefits from a considerable supply of ICU beds, further intensifying the demand for critical care equipment, including ventilators, driven by the escalating need for patient-centric care in the US.
Likewise, the North American Ventilator Market is fueled by favorable reimbursement policies for respiratory care, a growing demand for sophisticated ventilators in home care settings, an increasing incidence of preterm births, rising ICU admissions in hospitals, a growing elderly population, and various government initiatives aimed at facilitating access to advanced treatments. These factors collectively project a substantial expansion of the North American Ventilator Market through 2028.
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