Qualitative Respiratory Care Device Market Analysis, Facilitation of Innovative Products and Strategic Business Planning – Fastbreak Daily

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Respiratory care is a health specialty, which focuses on improving cardio-pulmonary functions and promoting health and well-being. These devices are mainly classified into therapeutic, diagnostic and monitoring devices, and consumables and accessories. These devices are used to treat medical conditions such as asthma, chronic obstructive pulmonary disease (COPD), and other acute and chronic respiratory illnesses. Respiratory care devices are used in hospitals and home care facilities. The respiratory care device market has seen a paradigm shift from stationary to portable devices. The growing adoption of wearable devices has been a significant trend in the industry.

The global respiratory care devices market was valued at $ 12,890 million in 2015 and is expected to reach $ 21,300 million by 2022, registering a CAGR of 7.4% from 2016 to 2022. The therapeutic segment dominated the market. global market, accounting for more than half of the total market share in 2015.

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The global respiratory care devices market is driven by factors such as increasing prevalence of respiratory diseases, rapid urbanization, increasing pollution level, growing geriatric population, and increasing tobacco consumption around the world. In addition, government support has fueled the growth of the market. In addition, the high demand for therapeutic devices in home care facilities and increasing healthcare spending are expected to provide lucrative opportunities for market players. However, the large number of undiagnosed populations and the risks associated with some newborn therapeutic devices are hampering the growth of the respiratory care devices market.

The inhalers segment accounted for the major share of the respiratory care therapeutic devices market and is expected to continue to dominate throughout the forecast period. This segment is expected to grow at a CAGR of 7.1% during the period 2016-2022, due to the high prevalence of respiratory diseases such as COPD and asthma in all age groups.

In 2015, North America accounted for almost half of the global market, due to the high prevalence of various respiratory diseases in the region. Europe is second in the respiratory care device market, accounting for two seventh shares in 2015.

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The main key players are:

Koninklijke Philips NV, Hamilton Medical AG, Fisher & Paykel Healthcare Limited, ResMed, Inc., Invacare Corporation, Chart Industries Inc., Drger Safety AG & Co. KGaA, Becton, Dickinson and Company, Masimo Corporation and Medtronic plc.

Key Findings of the Respiratory Care Devices Market

  • The consumables and accessories segment is expected to grow at the fastest rate during the forecast period.
  • North America occupied a dominant position in the regional landscape in 2015, occupying almost half of the total market.
  • In 2015, the therapeutic segment accounted for more than half of the total respiratory care device market.
  • The monitoring and diagnostic devices segment collectively accounted for a one-sixth share of the global respiratory care devices market in 2015.

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