The Respiratory Care Devices Market Perspective, Comprehensive Analysis along with Major Segments and Forecast, 2020-2025. The Respiratory Care Devices market report is a valuable source of data for business strategists. The process for developing an updated forecast and creating the market report involves the compilation and analysis of all derivative or application sectors with a country-wise analysis of demand trends, taking into account the economic, political, and legislative environment. We have taken a holistic approach to formulate and develop a clear market model for accurate market numbers. This Respiratory Care Devices Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
Top Companies in the Global Respiratory Care Devices Market
Philips Healthcare, ResMed Inc. (NYSE: RMD), Medtronic plc (NYSE: MDT), Masimo, Fisher & Paykel Healthcare Corporation Limited (OTCMKTS: FSPKF), Becton, Dickinson, and Company (NYSE: BDX), Invacare, Chart Industries, Dragerwerk AG, Hamilton Medical, among others.
The global Respiratory Care Devices Market is expected to reach approximately US$ 37.56 Billion by 2026 growing at a CAGR of 10.2% from 2021-2026.
Respiratory diseases are one of the world’s biggest health concerns, causing one-sixth of all deaths worldwide. It is observed that more than 35 million people suffer from some form of respiratory disorder, and one in six deaths is caused by some kind of chronic lung disease in the US alone. Some of the chronic respiratory diseases are acute respiratory distress syndrome, asthma, chronic obstructive pulmonary disease, cystic fibrosis, pulmonary fibrosis, pneumonia, respiratory failure, sleep apnea, lung cancer, tuberculosis, and other respiratory diseases. The devices used for the diagnosis, treatment and monitoring of these cardiopulmonary disorders are known as respiratory care devices.
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The factors such as the rising prevalence of respiratory diseases, huge demand for enhanced portable devices, increasing geriatric population, and high prevalence of tobacco smoking are expected to drive the market growth during the forecast period. The market is witnessing the emerging trend of intelligent ventilators, portable PAP devices, smart inhalers, and nebulizers which are helping in providing real-time monitoring and transmission of data to the physicians. The markets in India, Brazil, China, and Japan are expected to grow at a rapid pace during the forecast period as the prevalence of respiratory diseases in these countries is high.
The major driver of the respiratory device market is the high smoking global population, which is increasing the disease burden. Smoking causes about 90% of all lung cancer deaths and 80% of all deaths from chronic obstructive pulmonary disease (COPD). It is observed that smokers are 12-13 times more likely to die from COPD than non-smokers. Currently, market players are developing advanced technology PAP devices for the treatment of sleep apnea. For instance, in April 2017, ResMed launched AirMini, the world’s smallest CPAP machine for the treatment of sleep apnea. The PAP devices held more than half of the share of the total therapeutic respiratory care device market in 2016. A massive undiagnosed sleep apnea population is expected to provide an opportunity for the growth of the respiratory care devices market in the future.
The Global Respiratory Care Devices Market is estimated to witness a CAGR of 8.8% during the forecast period 2017-2023. The market is analyzed based on three segments product types, end-users, and regions.
Regional Analysis: The regions covered in the report are the Americas, EMEA, APAC, and Rest of the World (ROW). The Americas is set to be the leading region for the respiratory care devices market growth followed by Europe. The Asia Pacific and ROW are set to be the emerging regions. India, China, and Japan are set to be the most attractive destinations due to the largely untapped market.
The Respiratory Care Devices market can be divided based on product types and its sub-type, major applications and Third Party usage area, and important regions.
This report segments the global Respiratory Care Devices Market based on Types are:
Consumables and Accessories
Based on Application, the Global Respiratory Care Devices Market is Segmented into:
Regions Are covered By Respiratory Care Devices Market Report 2020 To 2026.
North America, Europe, China, Japan, Southeast Asia, India.
North America (USA, Canada, and Mexico).
Europe (Germany, France, UK, Russia, and Italy).
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia).
The report has 150 tables and figures browse the report description and TOC
Significant Features that are under Offering and Key Highlights of the Reports:
-Detailed overview of the Respiratory Care Devices Market
-Changing Respiratory Care Devices market dynamics of the industry
-In-depth market segmentation by Type, Application, etc.
-Historical, current, and projected Respiratory Care Devices market size in terms of volume and value
Recent industry trends and developments
-Competitive landscape of the Respiratory Care Devices Market
-Strategies of key players and product offerings
-Potential and niche segments/regions exhibiting promising growth.
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