Mechanical ventilators market foresees 6.78% CAGR until 2028

The market is driven by an increasing need for respiratory support.

The global market for mechanical ventilators is expected to grow by $2b until 2028 at an estimated compound annual growth rate (CAGR) of 6.78%.

A report by Technavio revealed that the market is seeing notable growth amidst the increasing need for respiratory support in various healthcare settings and is driven by factors such as the ageing population and a rising prevalence of chronic diseases.

Moreover, the market expects a trend towards technological advancements such as ventilators featuring real-time monitoring and remote connectivity.

“Remote monitoring capabilities are also transforming the industry, enabling healthcare providers to adjust settings remotely and minimize in-person consultations. These advancements highlight the crucial role of technology in driving market growth,” The report said.

Meanwhile, the market’s expansion is also driven by the growing number of public and private hospitals.

“Large hospitals with advanced medical infrastructure frequently use mechanical ventilators for patients with conditions like COPD, apnea, acute lung injury, and hypoxia,” The report added.