Nevertheless, the development of the global respiratory devices market is majorly driven by the increased prevalence of respiratory diseases, growing aging population across the globe, rising prevalence of smoking, high pollution and urbanization, increasing incidence of preterm births, and lifestyle changes. According to this report Worldwide Respiratory Care Devices Market Size was US$ 22.35 Billion.
How Coronavirus benefited the Respiratory Care Devices
Furthermore, COVID-19 is the most current and significant of these diseases; the pandemic has resulted in a surge in demand for respiratory care equipment like Nebulizers, Pulse Oximeters, and ventilators, among others. The need for ventilators has also risen due to the COVID-19 pandemic, resulting in governmental and industrial support for propelling the pace of manufacturing. It expresses the emphasis on respiratory care in the background of a pandemic; the respiratory care devices market has shown healthy growth.
Global Respiratory Care Devices Market is expected to expand at a CAGR of 8.7% from 2021-2027
Based on product type, the global respiratory care devices industry is segmented into monitoring devices, therapeutic devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment has accounted for a significant share of the global respiratory care devices industry. It is primarily accredited to the growing adoption of several therapeutic devices such as PAP devices, humidifiers, nebulizers, and oxygen concentrators.
On the other hand, positive airway pressure (PAP) is in vast demand by product segment due to growing obstructive sleep apnea cases. The most standard treatment for sleep apnea is (PAP) positive airway pressure therapy. A positive airway pressure device is usually about a shoebox's size while being smaller. A flexible tube joins the machine with a mask or other interface appliance worn over the nose and mouth.
In terms of end-user, the respiratory care devices market is bifurcated into hospitals, physician clinics, clinical laboratories, and others. Hospitals' respiratory care device market was significant compared to physician clinics, clinical laboratories, and others. Their financial capabilities, which allow hospitals to purchase expensive instruments, and the availability of qualified professionals to operate these instruments, have ensured the high percentage of hospitals in this market.
North America holds the Largest Respiratory Care Devices Market
Worldwide, North America held the largest respiratory care devices market. This is primarily attributed to the rising plurality of respiratory diseases like Chronic Obstructive Pulmonary Disease (COPD). As per CDC (Centers for Diseases Control and Prevention), chronic obstructive pulmonary disease is the fourth most cause of death in the US. COPD affects 15 million American and more than 150,000 Americans die of COPD each year.
Furthermore, the Asia-Pacific region showcases massive growth due to a large pool of respiratory patients, air pollution, and the growing prevalence of tobacco smoking. Also, APAC is evolving into a medical tourism hub and is regarded as one of the fastest-growing markets for medical devices. Low infrastructure and treatment expenses and the availability of highly educated physicians have driven medical tourists to APAC countries, particularly Thailand and India.
Prominent market players are Philips, ResMed, Drägerwerk AG & Co. KGaA, Invacare, Becton Dickinson, Medtronic plc , Masimo Corporation, Allied Healthcare Inc, Teleflex Incorporated, Johnson & Johnson.
This research report titled “Respiratory Care Devices Market, Global Forecast by Product Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables & Accessories), Product (PAP Devices, Ventilators, Nebulizers, Humidifiers, Medical Oxygen Concentrators, Pulse Oximeters, Capnographs, Medical Gas Analyzers, Spirometers, Polysomnography Devices, Peak Flow Meter, Breathing Circuits, Tracheostomy Tube, Others), Application (COPD, Asthma, Sleep Apnea, Infectious Disease, Lung Cancer), End Users (Hospital, Physician Clinic, Clinical Laboratories Others), Regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Company Analysis (Philips, ResMed, Drägerwerk AG & Co. KGaA, Invacare, Becton Dickinson, Medtronic plc, Masimo Corporation, Allied Healthcare Inc, Teleflex Incorporated, Johnson & Johnson)” Provides a detailed analysis of Global Respiratory Care Devices Market.
Product Types - Market has been covered from 4 viewpoints
- Therapeutic Devices
- Monitoring Devices
- Diagnostic Devices
- Consumables & Accessories
Products - Market has been covered from 14 viewpoints
- PAP Devices
- Ventilators
- Nebulizers
- Humidifiers
- Medical Oxygen Concentrators
- Pulse Oximeters
- Capnographs
- Medical Gas Analyzers
- Spirometers
- Polysomnography Devices
- Peak Flow Meter
- Breathing Circuits
- Tracheostomy Tube
- Others
Application - Market has been covered from 5 viewpoints
- COPD
- Asthma
- Sleep Apnea
- Infectious Disease
- Lung Cancer
End Users - Market has been covered from 4 viewpoints
- Hospital
- Physician Clinic
- Clinical Laboratories
- Others
Regions - Market has been covered from 5 viewpoints
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
All the companies have been studied from 3 points
- Business Overview
- Recent Developments
- Sales Analysis
Company Analysis
- Philips
- ResMed
- Drägerwerk AG & Co. KGaA
- Invacare
- Becton Dickinson
- Medtronic plc
- Masimo Corporation
- Allied Healthcare Inc
- Teleflex Incorporated
- Johnson & Johnson
What is the estimated value of the Global Respiratory Care Devices Market?
What is the growth rate of the Global Respiratory Care Devices Market?
What is the forecasted size of the Global Respiratory Care Devices Market?
Who are the key companies in the Global Respiratory Care Devices Market?
Report Attribute | Details |
---|---|
No. of Pages | 220 |
Published | February 2022 |
Forecast Period | 2021 - 2027 |
Estimated Market Value ( USD | $ 22.35 Billion |
Forecasted Market Value ( USD | $ 36.96 Billion |
Compound Annual Growth Rate | 8.7% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |
Table of Contents
Companies Mentioned
- Philips
- ResMed
- Drägerwerk AG & Co. KGaA
- Invacare
- Becton Dickinson
- Medtronic plc
- Masimo Corporation
- Allied Healthcare Inc
- Teleflex Incorporated
- Johnson & Johnson
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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