The global respiratory care devices market is likely to expand at a CAGR of 10.1% during the estimated timeframe on the back of increasing screening of respiratory diseases. Additionally, the respiratory care devices have utilized the treatment, diagnosis, assessment, and rising growing focus of care of patients suffering from respiratory devices..
Respiratory care devices are used for treating, controlling, evaluating, managing, and diagnosing patients with an anomaly in the cardiopulmonary system. The respiratory disease is any of the diseases and disorders of the airways and the lungs that affect human breathing. Diseases of the respiratory system may disturb any of the structures and organs that have to do with breathing, which includes nasal cavities, the throat, the larynx, the trachea, the tissues of the lungs, and the respiratory muscles of the chest cage. The growing respiratory diseases are largely due to increasing patient population suffering from chronic diseases, which include chronic obstructive pulmonary disease (COPD), cystic fibrosis, pneumonia, and asthma. The initial detection of these diseases aids in providing better treatments. Thus, the demand for respiratory care devices is increasing greatly in the global market. Additionally, the growing elderly population vulnerable to respiratory problems would boost the demand for the respiratory care devices market.
Respiratory Care Devices Market Segmentation:
Based on the therapeutic devices, the market is segmented into pap devices, ventilators, masks, nebulizers, oxygen concentrators, humidifiers, inhalers, reusable resuscitators, oxygen hoods, and nitric oxide delivery units.
Based on the monitoring devices, the market is segmented into pulse oximeter sensors, pulse oximeters, pulse oximeter equipment, analyzers, and capnographs.
Based on the diagnostic devices, the market is segmented into spirometers, peak flow meters, polysomnography (PSG) devices, and other diagnostic devices.
Based on the accessories & consumables, the market is segmented into disposable masks, tracheostomy tubes, disposable resuscitators, nasal cannulas, and other.
Based on the application, the market is segmented into sleep apnea, chronic obstructive pulmonary disease (COPD), asthma, infectious diseases, and other diseases.
Based on the end user, the respiratory care devices market is segmented into hospitals, ambulatory care, clinics, home care, and others.
Regionally, the respiratory care devices market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa. Of these, the Americas are estimated to remain dominant in the global respiratory care devices market in the coming period owing to a surge in the adoption of advanced technologies in the healthcare industry and presence of the favorable reimbursement policies. Additionally, numbers from the Centers for Disease Control and Prevention (CDC) suggested that the deaths due to chronic respiratory diseases were 155,041 in 2015, and the number of people suffering from chronic bronchitis was 8.9 million in the U.S. only, which is likely to rise in coming years. Thus, the market for respiratory care devices in the region is likely to be benefited from the increase in the prevalence of the disease.
Europe is anticipated to hold the second-largest share in the revenue of the global respiratory care devices market owing to the increasing number of surgeries coupled with increasing frequency of diabetic patients in the region. Additionally, increasing investment for the adoption of advanced treatment devices and procedures is likely to benefit market growth in the coming years. However, the Asia Pacific is estimated to be the fastest-growing region owing to increasing respiratory diseases and disorders in the region. Further, the factor benefiting market growth include an increase in the adoption of several treatments and facilities in hospitals. The factors such as increasing investment for improving healthcare infrastructure, optimal treatment facilities, increasing disposable income and affordability of patients, and surge in medical tourism in the region are benefiting the market growth. Additionally, rising government support for raising public awareness about the respiratory diseases and availability of newer devices.
Global Respiratory Care Devices Market: Therapeutic devices (PAP Devices), Monitoring devices (Pulse Oximeters), Diagnostic devices (Spirometers), Accessories & Consumables (Disposable Masks), and Application (Asthma and Others)—Global Forecast till 2023
Market Key Players
Philips Healthcare (Netherlands), ResMed, Inc. (US), Medtronic plc (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Becton, Dickinson and Company (US), Chart Industries, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), and Hamilton Medical AG (Switzerland) in the report on the same market.
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