The Respiratory Device Market delves into various aspects, enabling readers to gain a deep understanding of the market dynamics, trends, and potential opportunities.
Global Respiratory Device Market Forecast and Trends
The Global Respiratory Device Market was worth USD 15.8 Billion in 2020 and is further projected to reach USD 38.0 Billion by the year 2027, growing at the CAGR of 13.5% in the forecast period (2021-2027).
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Major powerful influences for the worldwide respiratory care devices market are rise in the number of long-lasting pulmonary obstructive diseased patients, and endless flow in figures due to varying lifestyle and environment such as growing contamination level and smokers, rising geriatric population, new launching of the product joined with a solid pipeline of the product. In addition to that, the rise in demand for home cares respiratory devices.
According to the Centers for Disease Control and Prevention (CDC), more than 16 million population in America were breathing with an illness caused by smoking such as lung diseases, COPD, heart diseases, and cancer in 2014. Additionally, increasing the geriatric population is the main cause of driving the market. However, the absence of awareness in the emerging region, and some of the destructive effects of respiratory devices on neonates can limit market growth. Additionally, the excise tax on devices by some countries would imagine affecting the market destructively.
Global Respiratory Device Market: Overview
Respiratory care devices are the division of medical devices attentive to the dealing, management, control, diagnostic assessment, and care of patients with irregularity in the cardiopulmonary system. The methods are used in chronic obstructive pulmonary diseases (COPD), deteriorating lung diseases, which mainly include chronic bronchitis and emphysema. The market is observing decent development, as COPD is one of the foremost causes of death worldwide.
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Growth Drivers
Rise in the number of long-lasting pulmonary obstructive diseased patients
The rise in the number of patients due to varying lifestyles and environments such as growing contamination level and smokers, rising geriatric population fuels the respiratory device market. People are tending to junk food due to the increase in the number of employed population because of this. They do not have time to cook the food by the traditional method, which is foremost the respiratory problems among the people. Growing the elderly population is the leading cause of driving the market. However, the lack of awareness in the developing region, and some of the critical effects of respiratory devices on neonates can bound the market growth. Additionally, the excise tax on devices by some countries would imagine affecting the market destructively.
Global Respiratory Device Market: Segmentation
Based on the product, the market is divided into therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment accounted for the major portion of the market in 2019. The huge share of this segment is credited to the rising occurrence of chronic diseases and the growing elderly population. The respiratory care therapeutic devices market is additionally considered into positive airway pressure (PAP) devices, ventilators, nebulizers, humidifiers, oxygen concentrators, inhalers, reusable resuscitators, nitric oxide delivery units, and oxygen hoods. In 2018, the PAP devices section accounted for the major portion of the respiratory care therapeutic devices market.
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Based on indication Global respiratory device market is divided into Chronic Obstructive Pulmonary Disease (COPD), Asthma, Sleep Apnea, Infectious Disease, Other diseases
Based on end-user, the respiratory care devices market is divided into three main end-user segments—hospitals, home care settings, and ambulatory upkeep centers. In 2019, hospitals accounted for the major market part of the market, mostly because of their financial capabilities, which allow them to purchase high-priced instruments and the availability of trained professionals to function these instruments, have safeguarded the high part of hospitals in this market.
Global Respiratory Device Market: Regional insights
Purely, the global respiratory devices market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is likely to dominate the global market throughout the projected period due to the growing occurrence of respiratory disease. The fast acceptance of numerous respiratory devices used for the treatment of chronic respiratory disease dealing procedures will foster growth in North America.
The leading share of this region can be endorsed to the sturdy existence of a large number of major manufacturers of respiratory care devices, growing elderly population, high prevalence of smoldering and respiratory diseases, and the occurrence of a highly developed healthcare system. Moreover, the occurrence of advanced healthcare infrastructure and high healthcare expenditure in North America is also expected to drive the development of the market in this region.
By Product Type
· Therapeutic Devices
§ PAP Devices
§ Continuous Positive Airway Pressure (CPAP) Devices
§ Automatic PAP (APAP) Device
§ Bi-Level PAP (BPAP) Devices
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· Ventilators
§ ICU Ventilators
Ø High-end ICU Ventilators
Ø Mid-end ICU ventilators
Ø Basic ICU Ventilators
§ Portable/Transportable Ventilators
· Nebulizers
· Humidifiers
§ Heated Humidifiers
§ Passover Humidifiers
· Oxygen Concentrators
§ Fixed Oxygen Concentrators
§ Portable Oxygen Concentrators
· Inhalers
§ Metered Dose Inhalers (MDIs)
§ Dry Powder Inhalers (DPIs)
· Reusable Resuscitators
§ Adult Resuscitators
§ Infant/Neonatal Resuscitators
· Nitric Oxide Delivery Units
· Oxygen Hoods
§ Monitoring Devices
· Pulse Oximeters
§ Pulse oximeter sensors
§ Pulse Oximeter equipment
· Capnographs
· Gas Analyzers
Diagnostic Devices
· Spirometers
· Polysomnography Devices
· Peak Flow Meters
· Other Diagnostic Devices
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Consumables and Accessories
· Masks
§ Reusable Masks
o Nasal Masks
o Full-face Masks
o Nasal pillow masks
o Oral Masks
§ Disposable Mask
o Disposable Resuscitators
o Breathing Circuits
o Tracheostomy Tubes
o Nasal Cannulas
By Indication
· Chronic Obstructive Pulmonary Disease (COPD)
· Asthma
· Sleep Apnea
· Infectious Disease
· Other diseases*
The other diseases segment comprises lung cancer, tuberculosis, and idiopathic pulmonary fibrosis.
By End User
· Hospitals
· Home Care Settings
· Ambulatory Care Centers
By Region
· North America
· Europe
· Asia Pacific
· South America
· Middle East & Africa
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Competitive Landscape
· Philips Healthcare (Netherlands),
· Medtronic plc (Ireland),
· ResMed Inc. (US)
· Masimo Corporation (US)
· Fisher & Paykel Healthcare Co. Ltd. (NewZealand)
· Getinge AB (Sweden)
· Air Liquide (France)
· Drägerwerk AG & CO.KGAA (Germany)
· Hamilton Medical AG (Switzerland)
· Invacare Corporation (US)
· Vyaire Medical (US)
· Chart Industries, Inc. (US)
· Other prominent players.
Recent Developments
Philips unlocked its first Sleep and Respiratory Education Center in Singapore in March 2018.
ResMed attained HB Healthcare Safety, a supplier of home-based medical equipment for sleep and respiratory care devices in March 2019.
Table of Content
Chapter 1: Global Respiratory Device Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Respiratory Device market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Respiratory Device Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Respiratory Device market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Respiratory Device market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Respiratory Device market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Respiratory Device market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Respiratory Device business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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