The Europe Respiratory Devices Market size was valued at USD 5.11 billion in 2022 and expected to reach USD 8.04 billion by 2027, to grow at a CAGR of 9.47% during the forecast period 2022 to 2027.
The European respiratory devices market is expected to be driven by the factors such as the increasing prevalence of respiratory illness and diseases among the people such as asthma, chronic obstructive pulmonary diseases (COPD), chronic bronchitis, and pneumonia.
Asthma, which affects adults & children, and the elderly, are the most significant contributor to this figure. There is a substantial prevalence of severe asthma in Europe's emerging markets. However, the emergence of the global pandemic COVID-19 has significantly increased the demand for respiratory devices like Ventilators.
The other factors such as the growing geriatric population, smoking, pollution, physical inactivity, obesity are the different factors causing respiratory diseases and increasing the demand for respiratory devices.
In addition, the technological advancements for developing advanced and efficient devices for diagnosing the illness are expected to boost the market growth.
Further, growing investments for developing medical and health care infrastructure and the increase in screening tests and diagnostic procedures are uplifting the market growth.
Moreover, increasing initiatives from government and non-government organizations in research and development activities for manufacturing new and innovative diagnosing devices with the rising awareness about healthcare and respiratory diseases among the people also impact the growth of the respiratory devices market.
The market strategies such as Partnerships, mergers, and acquisitions are expanding the regional market growth.
However, the lack of public awareness about various respiratory problems and the high cost of the devices restricts the market growth of respiratory apparatus.
Also, the lack of proper reimbursement policies and strict government rules and regulations for introducing products and services in the market and side effects and infections related to the treatment by respiratory devices are impeding the market growth.
In addition, the lack of advanced medical and healthcare services and treatment available in some countries for diagnosing respiratory diseases and the lack of skilled labor for operating the devices are hampering the market growth.
This research report on the European Respiratory Devices Market has been segmented and sub-segmented into the following categories:
By End User:
Geographically, the Europe region held the second-largest share of the respiratory devices market globally is expected to grow significantly during the period. Increasing incidence of chronic diseases, availability of advanced healthcare facilities, technological advancements, and favorable reimbursement policies are the factors that drive the market's growth.
Furthermore, the increasing infections of the respiratory systems, increase in preterm births, and the increased research and development activities in the developing countries are some more factors triggering the market growth.
The German respiratory devices market is one of the most abundant markets in the European region: increasing geriatric population and rising preterm births. Rapid urbanization has also increased pollution and worsened the air quality are factors driving the growth. Smoking habits have also increased the risk of respiratory diseases and increased the demand in the market.
The UK respiratory devices market and France respiratory devices market are also projected to grow significantly due to the increasing geriatric population in the region. In addition, people's urbanization and smoking habits have also increased the chances of respiratory disorders and thus increasing the demand for the market.
Furthermore, the increasing research and development activities have also introduced new products, expanding the market's growth rate. In addition, the market's rise is worsening food and health habits, smoking, and increased pollution due to urbanization. These factors also stress the respiratory system, leading to respiratory problems.
KEY MARKET PLAYERS
Key players dominating the Europe Respiratory Devices Market profiled in this report are ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, CareFusion Corporation, Masimo Corporation, Covidien plc.,
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