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Ventilator Market Components, Technologies, Medical Products, and Regions | P&S Intelligence
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The major end-users in the ventilator market are hospital, homecare, and ambulatory care settings. The largest share of the market was held by hospitals during the historical period, and these are further expected to hold over 70.0% share of the market by 2022. This is attributed to the availability of trained professionals, large pool of patients, and the financial capabilities of the hospitals to acquire high-end instruments. The homecare category is predicted to grow at the highest CAGR during the forecast period due to improving healthcare reimbursement scenario in Europe and North America.
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The increasing incidence of preterm births is another key driver of the ventilator market. Preterm birth is when a baby is born alive before the 37 weeks of pregnancy are completed. Babies born this way are more prone to serious illnesses or death during the neonatal period. Due to impaired respiration, high risk of infection, difficulty in feeding, and poor body temperature regulation, preterm babies are more susceptible to complications. According to the WHO, about 15 million infants are born preterm every year.
Hence, the surging incidence of preterm births and increasing prevalence of smoking are driving the growth of the market.
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