LONDON, Jan. 14, 2016 /PRNewswire/ -- Respiratory Care Devices Market - By Product [Therapeutic (Ventilator, Mask, Pap Device, Inhaler, Nebulizer), Monitoring (Pulse Oximeter, Capnograph), Diagnostic, Consumables & Accessories], By End User [Hospital, Home Care] - Global Forecast To 2020"
The global respiratory care devices market is estimated to reach USD 21.9 billion by 2020 at a CAGR of 9.6% during the forecast period of 2015 to 2020.. The market is primarily driven by the rising incidences of respiratory diseases, increasing geriatric population, growing focus on monitoring respiratory diseases, rising demand for home healthcare, and increasing incidences of preterm births.
In this report, the global respiratory care devices market is segmented on the basis of products and end users. On the basis of products, the respiratory care devices market is divided into therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment is further divided into humidifiers, nebulizers, oxygen concentrators, positive airway pressure (PAP) devices, reusable resuscitators, ventilators, inhalers, masks, nitric oxide delivery units, and oxygen hoods. The monitoring devices segment is categorized into pulse oximeters, capnographs, and gas analyzers. The diagnostic segment is subsegmented into spirometers, peak flow meters, polysomnography (PSG) devices, and other diagnostic devices; while, the consumables & accessories segment is subdivided into disposable masks, disposable resuscitators, tracheostomy tubes, nasal cannulas, and other consumables & accessories. On the basis of end users, the respiratory care devices market is divided into hospitals and home care. In addition, country-wise segmentation of each region (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) is also provided in the report.
In 2014, the hospitals segment accounted for the largest share of around 60% to 65% of the global respiratory care devices market. The large share of this segment is mainly attributed to the financial capabilities of hospitals to purchase high-priced instruments as well as the availability of trained professionals to operate respiratory care devices. However, the home care end-user segment is expected to witness the highest growth during the forecast period, mainly due to the development of compact and lightweight respiratory care devices that are easier to carry and operate.
In 2014, North America accounted for the largest share to the global respiratory care devices market, followed by Europe, Asia-Pacific, Latin American, and the Middle East & Africa. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, owing to the rapidly aging population, increased accessibility to healthcare facilities, and rising healthcare expenditure.
The global respiratory care devices market is fragmented; some of the major players in this market are Philips Healthcare (Netherlands), ResMed, Inc. (U.S.), Covidien plc (Ireland), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), CareFusion Corporation (U.S.), Invacare Corporation (U.S.), Chart Industries, Inc. (U.S.)
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help them to garner greater market shares. Firms purchasing the report could use one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for reaping a greater market share.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the respiratory care devices market. The report analyzes the respiratory care devices market by product and end user across all regions
- Product Development/Innovation: Detailed insights on upcoming trends, research and development activities, and new product launches in the respiratory care devices market
- Market Development: Comprehensive information on the lucrative emerging markets by product, end user, and region
- Market Diversification: Exhaustive information of new products, growing regions, recent developments, and investments in the respiratory care devices market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, manufacturing capabilities, and SWOT analyses of the leading players in the respiratory care devices market
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