Worldwide Respiratory Care Devices Industry to 2025 - Featuring Philips Healthcare, Resmed & Medtronic Among Others
DUBLIN, July 21, 2020 /PRNewswire/ -- The "Respiratory Care Devices Market by Product (Therapeutic (Ventilator, Mask, PAP Device, Inhaler, Nebulizer), Monitoring (Pulse Oximeter, Capnograph), Diagnostic, Consumables), End-User (Hospital, Home Care), Indication - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The respiratory care devices market is expected to reach USD 29.86 billion by 2025, from USD 16.09 billion in 2019.
Due to the outbreak of coronavirus globally, there is a sudden rise in the demand for respiratory care devices. Thus, the respiratory care devices market witnessed a CAGR of 261.1% between 2019 and 2020. In 2020, the respiratory care devices market reached USD 58.1 billion. The growth of this market is mainly attributed to the high prevalence of respiratory diseases, rising aging population across the globe, high prevalence of smoking, rising urbanization and pollution levels, increasing incidence of preterm births, and lifestyle changes. However, a lack of awareness-leading to a large underdiagnosed and undertreated population and the harmful effects of specific respiratory care devices on neonates have hampered market growth to an extent.
COPD was the largest and fastest-growing indication of respiratory care devices market in 2019.
COPD is a medical term referring to a group of lung diseases, including chronic bronchitis and emphysema. It is an inflammatory and progressive life-threatening lung disease characterized by a persistent blockage of airflow from the lungs. One of the major causes of COPD is tobacco smoking. According to the US CDC, as many as eight in 10 COPD-related deaths are due to smoking. Additionally, rising indoor (biomass fuel) and outdoor air pollution levels, exposure to dust and chemicals (vapors, irritants, and fumes), genetic disorders, and increasing geriatric population are other factors driving the prevalence of COPD. The elements, as mentioned above, are expected to drive the demand for respiratory care devices during the forecast period.
Hospitals are the largest end-user segment in the respiratory care devices market in 2019
Based on end-user, the respiratory care devices market is divided into hospitals, home care settings, and ambulatory care. Hospitals form the largest end-user segment of the respiratory care devices market. This can largely be attributed to the financial capabilities of hospitals to purchase expensive equipment and the availability of trained professionals in hospitals to operate respiratory care devices. Hospitals provide respiratory care services to patients through various departments, such as intensive care units, emergency rooms, outpatient departments, and pulmonary diagnostic laboratories, among others. Moreover, COVID-19 has tremendously impacted o the hospital segment. Several hospitals have been established in order to cure an increasing number of patients infected from the coronavirus.
North America will continue to dominate the respiratory care devices market in 2025
The respiratory care devices market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2019, North America accounted for the largest share of the respiratory care devices market. The large share of North America in this market can be attributed to the outbreak of COVID-19, which has driven the demand for respiratory devices in North America. Due to its growing geriatric population segment and environmental conditions that have favored the spread of the disease, COVID-19 has severely affected the region and ensured enormous growth in the demand for respiratory care devices. Players in this and adjacent, or even non-related, markets have focused on or collaborated for expanding the manufacturing of critical care instruments and respiratory care devices.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Respiratory Care Devices Market: Market Overview
4.2 North America: Respiratory Care Devices Market, 2019
4.3 Respiratory Care Devices Market: Geographic Growth Opportunities
4.4 Respiratory Care Devices Market: Geographic Mix
4.5 Respiratory Care Devices Market: Developing Vs. Developed Markets
5 Market Overview
5.1 Introduction
5.2 Market Drivers
5.2.1 Rising Prevalence of Respiratory Diseases
5.2.1.1 Rapid Growth in the Global Geriatric Population
5.2.1.2 Urbanization and Growing Pollution Levels
5.2.1.3 High Prevalence of Tobacco Smoking
5.2.1.4 Changing Lifestyles
5.2.2 Increasing Incidence Rate of Preterm Births
5.2.2 Outbreak of Infectious Diseases Affecting Respiratory System
5.3 Market Restraints
5.3.1 Unfavorable Reimbursement Scenario
5.3.2 Availability of Low-Cost Products From Local Manufacturers
5.4 Market Opportunities
5.4.1 Growing Demand for Home Care therapeutic Devices
5.4.2 High Growth in Developing Countries Across APAC and Latin America
5.4.3 Point-of-Care Diagnostics - an Upcoming Opportunity
5.5 Market Challenges
5.5.1 Low Awareness and Large Underdiagnosed and Undertreated Population
5.5.2 Harmful Effects of Certain Devices on Neonates
6 Industry Trends
6.1 Rising Demand for Enhanced Portable & Compact Devices
6.2 Focus of Market Players on Expanding Their Geographical Presence
6.3 Growing Demand for Multimodal Ventilation
6.4 Rising Adoption of Noninvasive Ventilation
6.5 Technology Trends
6.5.1 E-Nose Technology
6.5.2 Wireless Gas Sensor Technology
6.5.3 Artificial Intelligence for Personalized Requirements
7 Respiratory Care Devices Market, By Product
7.1 Introduction
7.2 Therapeutic Devices
7.3 Monitoring Devices
7.4 Diagnostic Devices
7.5 Consumables & Accessories
8 Respiratory Care Devices Market, By Indication
8.1 Introduction
8.2 Chronic Obstructive Pulmonary Disease (Copd)
8.2.1 Increasing Prevalence of Copd to Drive the Demand for Respiratory Care Devices
8.3 Sleep Apnea
8.3.1 Rising Awareness About Diagnosis of Sleep Apnea to Drive Demand for Respiratory Care Devices
8.4 Asthma
8.4.1 Increasing Global Burden of Asthma to Support Market Growth
8.5 Infectious Diseases
8.5.1 Rising Awareness for Tb Diagnosis to Drive Market Growth
8.6 Other Indications
9 Respiratory Care Devices Market, By End User
9.1 Introduction
9.2 Hospitals
9.2.1 This Segment Held the Largest Share of the Respiratory Care Devices Market in 2018
9.3 Home Care Settings
9.3.1 Technological Advancements Have Led to the Development of Compact & Lightweight Respiratory Care Devices That are Easy to Carry and Operate
9.4 Ambulatory Care Centers
9.4.1 There is A Shift in Patient Preference From Extended Hospital Treatment towards Treatment at Accs
10 Respiratory Care Devices Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Latin America
11 Competitive Landscape
11.1 Introduction
11.2 Geographical Assessment of the Major Players in the Respiratory Care Devices Market
11.3 Competitive Situations and Trends
11.3.1 Product Launches
11.3.2 Expansions
11.3.3 Acquisitions
11.3.4 Agreements and Partnerships
11.4 Competitive Assessment of R&D Expenditure
11.5 Market Share Analysis
11.6 Competitive Leadership Mapping
11.6.1 Visionary Leaders
11.6.2 Innovators
11.6.3 Dynamic Differentiators
11.6.4 Emerging Companies
12 Company Profiles
12.1 Philips Healthcare
12.1.1 Business Overview
12.1.2 Products offered
12.1.3 Recent Developments
12.2 Resmed, Inc.
12.3 Medtronic Plc
12.4 Masimo Corporation
12.5 Fisher and Paykel Healthcare Co., Ltd.
12.6 Getinge Ab
12.7 Air Liquide
12.8 Drgerwerk Ag & Co. Kgaa
12.9 Hamilton Medical Ag
12.10 Invacare Corporation
12.11 Vyaire Medical
12.12 Nihon Kohedon Corporation.
12.13 General Electric.
12.14 Apex Medical Corporation.
12.15 Teleflex Incorporated.
12.16 Nonin.
12.17 Allied Healthcare Products, Inc.
12.18 Smiths Medical, Inc.
12.19 Drive Devilbiss Healthcare.
12.20 Omron Healthcare, Inc.
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