Mechanical Ventilators Market Size

Mechanical Ventilators Market Size

Mechanical Ventilators Market size was valued at more than USD 3.1 billion in 2023 and is projected to record over 2.4% CAGR from 2024 to 2032. Increasing prevalence of chronic respiratory illnesses to propel industry expansion.

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High prevalence of chronic respiratory disorders is one of the main factors driving product demand. Chronic respiratory disease is one of the main causes of death worldwide. Moreover, around 15 million Americans were forecasted to have chronic obstructive pulmonary disease in 2020, with this number likely to rise over the coming years.

Gradual growth in the patient population and hospitalization rate will raise the demand for mechanical ventilators. The invasive and noninvasive positive pressure delivered by these ventilations for COPD exacerbation has increased product uptake in several healthcare facilities. It is projected that the clinical benefits provided by mechanical ventilators for the diagnosis, treatment, and mitigation of chronic respiratory illnesses will boost equipment deployment.

Risk associated with the use of mechanical ventilators could impede mechanical ventilators market progress

Mechanical ventilators are one of the crucial medical tools used in the diagnosis and treatment of chronic diseases as well as in life-threatening medical situations. However, risks and difficulties related to these medical devices might have a negative impact on patients. Acute respiratory distress syndrome (ARDS), sepsis, ventilator-associated pneumonia (VAP), atelectasis, and pulmonary edema are a few of the risks linked to mechanical ventilation. To reduce these risks, companies are working to develop advanced equipment. For instance, in 2023, Getinge recently launched a new ventilator that claims to offer lung protection to adults and pediatric patients.