As per our research analysis, the size of the Global Respiratory Devices Market was worth USD 17.28 billion in 2019 and estimated to be growing at a CAGR of 9.40%, to reach USD 27.08 billion by 2024.
Respiratory devices are medical devices that are used to aid patients who are suffering from respiratory problems and cannot attain sufficient oxygen levels to sustain life.
The increased incidence of respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD) and Obstructive Sleep Apnea (OSA) are factors that are having a significant impact on the anesthesia and respiratory devices industry. The breathing apparatus is the dominant segment of the market, due to the high prevalence rate of respiratory diseases. The hospital is the dominant segment as it is equipped with advanced apparatus. North America dominates the market in terms of revenue and will continue the same in the future.
Respiratory diseases are the principal cause of death globally. Lung infections like pneumonia and lung cancer, chronic obstructive pulmonary disease (COPD), and tuberculosis together accounted for around 12.5 million deaths globally during 2018, which is one-fifth of the worldwide total. These devices help in the elimination of mucus from the respiratory airways and in doing so enhance the pulmonary function.
Global Respiratory Devices Market growth is mainly driven by factors such as the increase in the prevalence of respiratory diseases, rapid urbanization, the increase in the number of surgical procedures, the increase in the level of contamination, the growth of the geriatric population and the increase in tobacco consumption stimulate the market of anesthesia and breathing apparatus. In addition, factors such as breathing apparatus innovations and government support for launching and approving these devices further accelerate Respiratory Devices Market growth.
In addition, strong demand for therapeutic devices for home care facilities and increased health care spending are expected to provide lucrative growth opportunities for the market.
However, lack of Public awareness, growing healthcare cost containment pressure and harmful effects of certain respiratory care devices on neonates in the emerging regions are the main factors hindering the growth of the market.
The presence of a large number of undiagnosed people, the risks associated with certain therapeutic and diagnostic devices for newborns and the low rate of adoption of new technologies, because of the reluctance of doctors to be treated, slow the growth of the Global Respiratory Devices Market.
Key Happenings in this market in the recent past:
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 – 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 - 2024 |
|
Segments Covered |
By Type, End-User and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation. |
This market research report on Global Respiratory Devices Market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2024.
Respiratory Devices Market Analysis - By Type
In 2019, the therapeutic devices segment accounted for the major share of the global respiratory devices market. This is mainly accredited to the growing adoption of several therapeutic devices such as nebulizers, PAP devices, humidifiers, and oxygen concentrators due to an increase in the elderly populace and increasing frequency of respiratory diseases.
Respiratory Devices Market Analysis - By End-Users
On the basis of end-uses, the hospital is the dominant segment, as they are equipped with anesthesia and specialized and advanced breathing apparatus.
Regional Analysis:
North America dominates the market in terms of revenue thanks to its strong innovation, continuous research and development, sophisticated healthcare infrastructure and favorable repayment policies.
Highly advanced healthcare systems and mounting healthcare costs are the main factors responsible for the large shares of North America and Europe in the global respiratory care devices market. However, the Asia-Pacific region is projected to grow at the highest CAGR, owing to the presence of a vast pool of respiratory patients.
List of key market participants leading the Global Respiratory Devices Market covered in this report are:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 By Therapeutic Devices
5.1.1.1 BI-PAP Devices
5.1.1.2 Nebulizers
5.1.1.3 Ventilators
5.1.1.4 Resuscitators
5.1.1.5 CPAP Devices
5.1.1.6 Humidifiers
5.1.1.7 Oxygen Concentrators
5.1.1.8 Inhalers
5.1.2 By Diagnostic and Monitoring Devices
5.1.2.1 Sleep Test Devices
5.1.2.2 Pulse Oximeter
5.1.2.3 Spirometers
5.1.2.4 Peak Flow Meters
5.1.2.5 Capnographs
5.1.3 By Disposables
5.1.3.1 Cannulas
5.1.3.2 Filters
5.1.3.3 Masks
5.1.3.4 Tubes
5.1.3.5 Breathing Circuits
5.2 By End Users
5.2.1 Hospitals
5.2.2 Home Care
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Masimo Corporation
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 ResMed Inc.
8.3 Fisher and Paykel Healthcare Limited
8.4 Philips Healthcare
8.5 Covidien
8.6 CareFusion Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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