Noninvasive ventilation masks market experiencing significant growth, set to reach $3.25 billion by 2031
From GlobeNewswire: 2024-11-29 07:22:00
The global Noninvasive Ventilation Masks Market is experiencing significant growth due to the rising prevalence of respiratory ailments and a shift towards home healthcare. The market is expected to reach US$ 3.25 billion by 2031, with a CAGR of 5.9%. Various key players are contributing to the market’s growth by offering innovative solutions and products.
The report from The Insight Partners offers valuable insights into the evolving market landscape of noninvasive ventilation masks. It provides stakeholders with information on market trends, key players, and future opportunities. With the increasing prevalence of chronic respiratory disorders and the growing demand for home healthcare solutions, the market is poised for continued growth.
Home healthcare settings are becoming increasingly popular due to their ability to offer consistent and timely care to patients. The COVID-19 pandemic has further highlighted the importance of home healthcare, leading to a surge in demand for noninvasive ventilation masks. These masks play a crucial role in managing conditions like COPD, sleep apnea, and other respiratory disorders.
North America led the noninvasive ventilation masks market in 2023, followed by Europe and Asia Pacific. The Asia Pacific region is expected to witness the highest CAGR during the forecast period. Market segmentation includes product types, applications, deployment types, and end users, offering a comprehensive overview of the market landscape.
Key players in the noninvasive ventilation masks market include Hamilton Medical, ResMed Inc., Fisher & Paykel Healthcare Limited, and Philips. These companies are at the forefront of innovation, developing advanced solutions to meet the growing demand for noninvasive ventilation masks. The market is expected to continue its growth trajectory, driven by the increasing prevalence of respiratory disorders and the shift towards home healthcare solutions.
Read more at GlobeNewswire: Noninvasive Ventilation Masks Market Is Set for Explosive