ALBANY, New York, March 27, 2020 /PRNewswire/ -- Driven by a plethora of factors the global respiratory devices market is expected to witness a substantial growth during the tenure of 2018 to 2026, says a recent study by Transparency Market Research. As per the report, the market is projected to exhibit a massive CAGR of 6.5% during the tenure and is anticipated to reach to the value of US$ 31.0 Bn by the end of the forecast period. According to the report, the growth of the market is also attributed to improving standards of healthcare sector in various developing regions of the globe. Owing to these benefits the global respiratory devices market shall witness a substantial growth during the tenure of 2018 to 2026.
Major Findings from the Global Respiratory Devices Market Study
To provide precise analysis of the market, the report classifies the global respiratory devices market into various segments. These insights allow the players to develop effective strategies to accelerate the growth of their business in global respiratory devices market. The segmentation of the market as per the study is mentioned below:
- Therapeutic devices segment under product type category shall dominate the global respiratory devices market. This dominance is the result of growing number of cases with respiratory issues.
- The global respiratory devices market was valued at US$ 17 Bn in 2017 and shall reach to US$ 31 Bn by the end of the 2026.
Explore the latest study on global respiratory devices market under the title: Respiratory Devices Market (Product Type - Therapeutic Devices (Drug Delivery Devices, Mechanical Ventilators, Continuous Positive Airway Pressure, Resuscitators, Humidifiers, Airway Clearance Devices, Oxygen Concentrators, Consumables and Disposables), Diagnostic and Monitoring Devices (Pulse Oximeters, Capnographs, Spirometers, Polysomnographs, Peak Flow Meters, Gas Analyzers); Application - Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, Cystic Fibrosis, and Pneumonia) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026 at
Major Drivers Driving the Global Respiratory Devices Market
Recent Developments in Healthcare Sector to Boost the Growth
Recent legislative amendments for medical devices and technology services by various governments across the world are likely to boost the global respiratory devices market during the forecast period. For example, amendments in the Health Insurance Act 1973 of Australia for diagnostic imaging provided Medicare funding for diagnostic imaging services. This has had a positive impact since March 2008 in terms of better access to diagnostic imaging for patients across different categories. Moreover, new capital sensitivity provisions are likely to provide rebates on various diagnostic imaging services in the country. These developments are expected to boost the growth of global respiratory devices market from 2018 to 2026.
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Major Challenges that can Impede the Growth of Global Respiratory Devices Market
The report on global respiratory devices market by Transparency Market Research not just enlightens the readers with positive aspects of the market. It also helps them to cautiously monitor the challenges that might impede their personal growth. With the help of these insights, the players can deduce certain strategies that might help them withstand the impacts that these challenges might put in front of players of global respiratory devices market.
Global Respiratory Devices Market: Regional Analysis
North America is projected to have the largest share in the global respiratory devices market. This dominance of the region is the result of growing cases of asthma, chronic bronchitis, and pulmonary tuberculosis in countries like U.S. and China. This is due to growing number of industries and rising pollution level in the country. Owing to these concerns, the demand for respiratory devices shall skyrocket in the country, this as a result shall propel the dominance of North America is global respiratory devices market from 2018 to 2026.
The global respiratory devices market is highly competitive and largely fragmented. The nature of the market is attributed to the presence of several players that are actively altering the dynamics of the global respiratory devices market. Moreover, the dynamics of the market is majorly dominated by the emerging players of global respiratory devices market. However, this scenario of the market might pose a tough challenge for the new players that are willing to enter the global respiratory devices market.
To withstand this challenge, the new players are merging and collaborating with several players. These strategies are allowing the new players to acquire essential resources that can help them with sustainability in the global respiratory devices market. Moreover with these strategies, the new players can enter and get themselves established in the global respiratory devices market.
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On the flip side, the established players are acquiring new businesses to enhance their production capacity and distribution channel. Owing to this strategy, the players can reach to new region and help their business generate more revenue.
The global respiratory devices market is segmented on the basis of:
Global Respiratory Devices Market, by Product Type
- Therapeutic Devices
- Diagnostic & Monitoring Devices
Global Respiratory Devices Market, by Therapeutic Devices
- Drug Delivery Devices
- Mechanical Ventilators
- Continuous Positive Airway Pressure
- Airway Clearance Devices
- Oxygen Concentrators
- Consumables & Disposables
Global Respiratory Devices Market, by Diagnostic & Monitoring Devices
- Pulse Oximeters
- Peak Flow Meters
- Gas Analyzers
Global Respiratory Devices Market, by Application
- Chronic Obstructive Pulmonary Disease
- Obstructive Sleep Apnea
- Respiratory Distress Syndrome
- Cystic Fibrosis
Global Respiratory Devices Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Drug Delivery Devices Market - The global drug delivery devices market is driven by rapid development in technology, increase in funding for drug research, changing lifestyles, rise in patient preference for drug delivery devices, and increase in government support for research & development. Moreover, a rise in the prevalence of diabetes, which leads to hyperglycemia, is expected to drive the drug delivery devices market.
Mechanical Ventilators Market - The last two decades have proven significant for expansion of global mechanical ventilators market. Some of the most notable factors of growth in the global mechanical ventilators market are growing demand for home care and portable ventilators. And, the reasons supporting the demand for these variants is the rapidly ageing population that needs such support often as they are susceptible to severe and chronic diseases. This demographic also see a good number of surgeries.
Smart Pulse Oximeters Market - Increasing prevalence of cardiovascular disorders such as congestive heart failure, high blood pressure, coronary artery disease, cardiac arrest, arrhythmia, stroke, congenital heart diseases, and peripheral artery disease is expected to fuel the growth of smart pulse oximeters market during the forecast period.
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