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Ventilators market to reach USD 2.56B by 2029

According to Arizton’s latest focus insight report, the global ventilators market is growing at a CAGR of 6.50% from 2023 to 2029.

Ventilators are vital to healthcare services, from hospitals to ambulatory healthcare services and homecare settings. The changing healthcare services in emerging markets and significant achieved development with developed countries consistently drive the ventilator market growth.

There are some other conditions, such as acute respiratory distress syndrome, asthma, cardiac arrest, pneumonia, collapsed lung, stroke, coma, drug overdose, hypercapnic respiratory failure, lung infection, myasthenia gravis, sepsis, an infection in the blood, upper spinal cord injuries, premature lung development (in babies) that will drive the market consistently in the upcoming period.

In 2023, North America emerged as the dominant player in the global ventilators market. Within North America, the United States stands out with the highest per capita healthcare expenditure, which has fueled the adoption of ventilators in homecare settings and driven significant demand. However, this high healthcare expenditure has also contributed to the complexity of the healthcare system in the US.

The market’s growth in North America is further propelled by technological advancements in ventilators, leading to the continuous introduction of new products. Additionally, factors such as the increasing geriatric population, prevalence of chronic diseases like cardiovascular diseases and diabetes, rising surgical procedures, and demand for emergency healthcare services have all contributed to the growing application of ventilators in the region.

North America’s ventilators market is highly competitive, with several prominent players striving to maintain their foothold by introducing new products to meet the rising demand.

For example, in 2022, ICU Medical’s acquisition of Smith plc aimed to bolster ICU Medical’s product line, including infusion therapy and ventilators, reflecting a strategic move to support market expansion and meet growing demand. Focused Reports

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