Report: Vent market poised to expand
SAN JOSE, Calif. – An increasing prevalence of respiratory diseases, including chronic obstructive pulmonary disease (COPD), is among several factors expected to fuel a rise in demand for mechanical ventilators, according to a study conducted by Global Industry Analysts, a market research firm. Other factors contributing to growth in the global market, which is expected to reach $3.9 billion by 2013, include technological advancements, a spike in popularity with homecare ventilation, and an aging global population, the firm noted. Among the technological advancements, the move from invasive to non-invasive ventilation is one of the most significant, as it reduces the risk of infection and the need for sedation. North America and Western Europe remain relatively mature markets for vents, leaving manufacturers there angling to improve pricing and innovation to increase share. Asia, Eastern Europe and Latin America represent relatively untapped markets.