NEW YORK, Feb. 13, 2017 /PRNewswire/ -- The respiratory care devices market is expected to grow at a lucrative CAGR of 9.7% from 2016 to 2021, to reach USD 24.07 billion by 2021 from USD 15.14 billion in 2016. Market growth can be attributed to a number of factors such as high prevalence of respiratory diseases, rapid growth in the aging population, the high prevalence of smoking, rising urbanization and pollution levels, increasing incidence of preterm births, and lifestyle changes. The rapid developments in emerging markets such as Asia-Pacific and Latin America and the growing demand for point-of-care (POC) diagnostic devices are expected to provide significant growth opportunities for players operating in the respiratory care devices market in the coming years. The rising demand for enhanced portable devices, growing demand for multimodal ventilators and focus of market players on expanding their geographic presence are the key trends of this market. However, the lack of awareness of respiratory conditions leading to a large underdiagnosed and undertreated population and the harmful effects of certain respiratory care devices on neonates are the major challenges in this market.
The global respiratory care devices market is segmented on the basis of type, disease/disorder, end user and region. Based on type, the respiratory care devices market is segmented into therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment is subsegmented into PAP devices, masks, ventilators, nebulizers, humidifiers, oxygen concentrators, inhalers, reusable resuscitators, nitric oxide delivery units, and oxygen hoods. The monitoring devices segment is subsegmented into pulse oximeters, capnographs and gas analyzers. The diagnostic devices segment is subsegmented into spirometers, polysomnography devices (PSG), peak flow meters and other diagnostic devices. The consumables and accessories segment is subsegmented into disposable masks, disposable resuscitators, tracheostomy tubes, nasal cannulas and other consumables and accessories. Based on disease/disorder, the respiratory care devices market is segmented into chronic obstructive pulmonary disease (COPD), sleep apnea, asthma, infectious diseases and other diseases/disorders. The other diseases/disorders segment includes lung cancer, pulmonary fibrosis, pulmonary embolism, cystic fibrosis, and allergies. Furthermore, on the basis of end users, the market is classified into hospitals, home care and ambulatory care.
Geographically, North America is the largest market for respiratory care devices, followed by Europe and Asia-Pacific. However, Asia-Pacific and Latin America possess lucrative growth potential for the respiratory care devices market during the forecast period. This is mainly attributed to the high growth in these regions is mainly attributed to the rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, low labor costs, favorable regulatory environment and expansion of private-sector hospitals to rural areas in various APAC and Latin American countries are some factors that will fuel the growth of respiratory care devices market in these regions.
The respiratory care devices market is fragmented in nature with the presence of many small and big firms. The major players in the respiratory care devices market include Philips Healthcare (The Netherlands), ResMed Inc. (U.S.), Medtronic plc (Ireland), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), Becton, Dickinson and Company (U.S.), Chart Industries, Inc. (U.S.), Drägerwerk AG & Co. KGaA (Germany), and Hamilton Medical AG (Switzerland).
The respiratory care devices market in this report is segmented by type, disease/disorder, end user, and regions. It provides detailed information regarding major factors influencing the growth market (drivers, restraints, opportunities, challenges and trends). The study tracks and analyzes competitive developments such as include product launches; agreements and collaborations; expansions; and acquisitions, and strategically profiles the key players and comprehensively analyzes their market shares and core competencies in the respiratory care devices market
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the respiratory care devices market; high-growth regions; and market drivers, restraints, trends, challenges and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on portfolios offered by the top players in the global respiratory care devices market. The report analyzes the respiratory care devices market by type, disease/disorder, and end users across all the regions.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the respiratory care devices market
- Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for respiratory care devices across regions
- Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the global respiratory care devices market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global respiratory care devices market
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