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Respiratory Device Market 2021-2030 Share Estimation, Trend Analysis, Industry Growth Rate, Players with Strategies, Sales and Revenues, Future Demands and Supply | CAGR Of 13.5%

Report Ocean presents a new report on Respiratory Device Market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future.

Global Respiratory Device Market Forecast and Trends

The 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.

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.

COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Global Respiratory Device Market also experienced a slowdown. Statista estimates that the Global Respiratory Device Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Global Respiratory Device Market generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Global Respiratory Device Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

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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.

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.

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By Product Type

· Therapeutic Devices

§ PAP Devices

§ Continuous Positive Airway Pressure (CPAP) Devices

§ Automatic PAP (APAP) Device

§ Bi-Level PAP (BPAP) Devices

·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

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

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By Region

·North America

.Europe

·Asia Pacific

·South America

·Middle East & Africa

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.

What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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Updated : 2022-05-17 05:23 GMT+08:00