The global mechanical ventilators market is expected to reach USD 5.5 billion by 2022, according to Grand View Research. Rapid growth in the geriatric population, increasing incidence of chronic obstructive pulmonary disease (COPD), rising incidences of respiratory emergencies, and technological innovation in respiratory care devices are the major factors driving the mechanical ventilators market. Technical advancements such as rapid innovations in the field of positive airway pressure (PAP) devices, portability, and improvement in battery life of transport and portable devices are the primary influencers in the mechanical ventilators market. The rise in prevalence of chronic respiratory diseases, coupled with rapid introduction and availability of portable, cost-contained, and easy-to-use mechanical ventilators for the treatment of such conditions is expected to drive mechanical ventilators growth worldwide. Transport and portable ventilators are expected to grow at a lucrative CAGR of over 7 percent over the forecast period.
North America dominates the mechanical ventilators market in terms of revenue owing to the rising geriatric population in USA, which is leading to a corresponding rise in the incidences of respiratory disorders. Asia-Pacific and Latin America are expected to witness lucrative growth of over 7 percent over the forecast period. This growth is due to the presence of untapped opportunities, rising expenditure level, and the introduction of favorable government initiatives.