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Mechanical ventilator market size estimated to reach US$12.54bn by 2027

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The global mechanical ventilator market, which was valued at US$2.99bn in 2019, is estimated to reach US$12.54bn by 2027 according to a new report.

Major factors driving the growth include the high prevalence of respiratory diseases, the rapid growth in the geriatric population, the growing number of preterm births and technological innovation. Clearly, the COVID-19 outbreak is also expected to fuel the mechanical ventilator market size.

Meanwhile, the demand for health facilities providing long-term care for chronic respiratory conditions is projected to be driven by a growing geriatric population base requiring long-term ventilation.

The growth in the mechanical market is expected to increase by the growing need for emergency care for prolonged illnesses and prolonged treatment associated with lung diseases in children as well as adults.

 

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  1. Pingback: UK scientists awarded funding to develop low-cost ventilator

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