Global Respiratory Care Devices Market Introduction
High prevalence of respiratory diseases coupled with growing levels of pollution are the major factors driving the respiratory care devices market. The rapid adoption of home healthcare has opened lucrative opportunities for manufacturers and is expected to boost the market during the forecast period. Furthermore, rising pollution levels and the increase in tobacco smoking is accelerating the growth of the market. Increase in the adoption of non-invasive ventilation is bolstering the market as well. Additionally, rapid usage of compact respiratory care devices is fueling the growth of the market .
Global Respiratory Care Devices Market Overview
The market is bifurcated into product and end-user. Product type consists of therapeutic devices, monitoring devices, consumables & accessories, and diagnostic devices. Therapeutic devices are anticipated to witness substantial growth during the forecast period. The therapeutic devices are further segmented into humidifiers, inhalers, ventilators, positive airway pressure (PAP) devices, reusable resuscitators. Positive airway pressure is expected to be in vast demand owing to growing cases of obstructive sleep apnea. The availability of reimbursement on PAP devices in regions like North America and Europe is fueling the market.
In terms of end-users, hospitals are expected to dominate the market growth. The financial capabilities of hospitals have allowed hospitals to purchase advanced instruments and acquire trained professionals.
In terms of indication, chronic obstructive pulmonary disease is expected to bolster the market owing to a rising number of deaths caused by COPD. Furthermore, sleep apnea is witnessed to show notable growth owing to the ill effects of untreated sleep apnea.
Based on regions, North America is expected to dictate the market growth. The increasing healthcare expenditure alongside rising cases of asthma and chronic obstructive pulmonary disease is driving the market in the region. The rise in geriatric population alongside favorable reimbursement policies is boosting the presence of the market in the region.
Asia-Pacific region is expected to showcase massive growth owing to rising cases of respiratory disease and air pollution. The presence of high quality healthcare systems in countries like India, China, and South Korea is expected to drive the growth of the market in the region.
Prominent players of the market are ResMed Inc., Drager AG, Getinge AB, Hamilton AG, Apex Medical Corp., DeVilbiss Healthcare LLC, Teleflex Incorporated, Nonin Medical Inc., Chart Industries, Fisher & Paykel Healthcare Corporation Limited and Vyaire Medical.
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Global Respiratory Care Devices Market Segmentation
By Product
● Therapeutic Devices
o PAP Devices
o Ventilators
o Nebulizers
o Humidifiers
o Oxygen Concentrators
o Inhalers
o Reusable Resuscitators
o Nitric Oxide Delivery Units
o Oxygen Hoods
● Monitoring Devices
o Pulse Oximeters
o Capnographs
o Gas Analyzers
● Diagnostic Devices
o Spirometers
o Polysomnography Devices
o Peak Flow Meters
o Other Diagnostic Devices
● Consumables and Accessories
o Masks
o Reusable Masks
o Nasal Masks
o Full-face Masks
o Nasal pillow masks
o Oral Masks
o Disposable Mask
o Disposable Resuscitators
o Tracheostomy Tubes
o Nasal Cannulas
o Other Consumables and Accessories
By Indication
● Chronic Obstructive Pulmonary Disease (COPD)
● Asthma
● Sleep Apnea
● Infectious Disease
● Other diseases
By End-User
● Hospitals
● Home Care Settings
● Ambulatory Care Centers
By Region
● North America
● Europe
● Asia Pacific
● Latin America
● Middle East & Africa
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Competitive Landscape:
• Product launches, mergers, and acquisitions had a positive influence on the market. Fisher Paykel in 2019 launched a new product F&P Optiflow 3S, a Nasal Cannula in a bid to bolster its position in the market
• Philips launched its first sleep and respiratory education center in Singapore in 2018
• ResMed in 2019, acquired HB Healthcare Safety. The move bolstered the supply of respiratory care devices and home-based medical equipment for sleep
FutureWise Key Takeaways
• Monitoring devices are expected to propel the market during the forecast period. The availability of pulse oximetry in the form of innovative products like bluetooth enabled and fingertip pulse oximeters is expected to accelerate the market growth
• Technological advancements in the form of E-Nose and enhanced portable respiratory devices will play a major role in strengthening the market during the forecast period
Objectives of the Study:
• To provide with an exhaustive analysis on the global respiratory care devices market by product, by indication, by end-user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and Middle East & Africa
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies
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