The Global Respiratory Devices Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Respiratory Devices Market is estimated to be $14.44 USD billion and predicted to rise to $22.63 USD billion with a CAGR of 9.40%. The market is segmented by Type (Therapeutic Devices-BI-PAP Devices, Nebulizers, Ventilators, Resuscitators, CPAP Devices, Humidifiers, Oxygen Concentrators, Inhalers; Diagnostic and Monitoring Devices-Sleep Test Devices, Pulse Oximeter, Spirometers, Peak Flow Meters, Capnographs; Disposables-Cannulas, Filters, Masks, Tubes, Breathing Circuits), by end users (Hospitals and Home Care). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the Global Respiratory Devices Market is mainly driven by factors such as an increase in the prevalence of respiratory diseases such as asthma and COPD, rising government support for device manufacturing companies, increasing disposable income, and rising aging population. However, poor accessibility of proper care, lack of public awareness, and high costs associated with the purchase and operation of such devices are the main factors hindering the growth of the market in this region.
The therapeutic devices segment leads the global market and this is mainly due to the growing adoption of several therapeutic devices such as nebulizers, humidifiers, and oxygen concentrators.
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.
Leading players in the Respiratory Devices market are Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation.
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