Global Respiratory Care Devices Market Research Report 2017–2023
Summary - A
new market study, titled “Global Respiratory Care Devices Market – Drivers,
Opportunities, Trends, and Forecasts: 2017–2023 ” has been featured on
WiseGuyReports.
Global Respiratory Care
Devices Market – Drivers, Opportunities, Trends, and Forecasts: 2017–2023
Overview: Respiratory diseases are one of the
world’s biggest health concerns, causing one-sixth of all deaths worldwide. It
is observed that more than 35 million people suffer from some form of the
respiratory disorder, and one in six deaths is caused by some kind of chronic
lung disease in the US alone. Some of the chronic respiratory diseases are
acute respiratory distress syndrome, asthma, chronic obstructive pulmonary
disease, cystic fibrosis, pulmonary fibrosis, pneumonia, respiratory failure,
sleep apnea, lung cancer, tuberculosis, and other respiratory diseases. The
devices used for the diagnosis, treatment, and monitoring of these
cardiopulmonary disorders are known as respiratory care devices.
The factors such as rising prevalence of respiratory diseases,
huge demand for enhanced portable devices, increasing geriatric population, and
high prevalence of tobacco smoking are expected to drive the market growth
during the forecast period. The market is witnessing the emerging trend of
intelligent ventilators, portable PAP devices, smart inhalers, and nebulizers
which are helping in providing real-time monitoring and transmission of data to
the physicians. The markets in India, Brazil, China, and Japan are expected to
grow at a rapid pace during the forecast period as the prevalence of
respiratory diseases in these countries is high.
The major driver of the respiratory device market is high smoking global population,
which is increasing the disease burden. Smoking causes about 90% of all lung
cancer deaths and 80% of all deaths from chronic obstructive pulmonary disease
(COPD). It is observed that smokers are 12–13 times more likely to die from
COPD than the non-smokers. Currently, market players are developing advanced
technology PAP devices for the treatment of sleep apnea. For instance, in April
2017, ResMed launched AirMini, the world's smallest CPAP machine for the
treatment of sleep apnea. The PAP devices held more than half of the share of
the total therapeutic respiratory care device market in 2016. A massive
undiagnosed sleep apnea population is expected to provide an opportunity for
the growth of the respiratory care devices market in the future.
Market Analysis: The “Global Respiratory Care Devices Market” is estimated to
witness a CAGR of 8.8% during the forecast period 2017–2023. The market is
analyzed based on three segments – product types, end-users, and regions.
Regional Analysis: The regions covered in the report are the Americas, EMEA,
APAC, and Rest of the World (ROW). The Americas is set to be the leading region
for the respiratory care devices market growth followed by Europe. Asia Pacific
and ROW are set to be the emerging regions. India, China, and Japan are set to
be the most attractive destinations due to the large untapped market.
Product Types Analysis: The global respiratory care devices market by products
is segmented into therapeutics, monitoring, diagnostics, and consumables.
Therapeutic devices segment holds the largest share in the market with more
than 65% of the total market share. Due to the better technology advancement in
this segment, therapeutic devices are expected to grow at a faster CAGR during
the forecast period. Among the various therapeutic devices, PAP devices are
expected to grow at a high rate and occupy significant share in the market due
to the huge undiagnosed population of sleep apnea. The market is also
witnessing various mergers, acquisitions, and collaborations among the top
players, which are defining the future of the Global Respiratory Care Devices
market.
Key Players: ResMed, Medtronic Plc, Fisher and Paykel, Becton Dickenson and
Company, Hamilton Medical, Drager Healthcare GmbH, Chart Industries, Philips
Healthcare, Maquet (Getinge Group), Masimo Corp., GE Healthcare and other
predominate & niche players.
Competitive Analysis: At present, the therapeutic devices are dominating the
Global Respiratory Care Devices market, and a lot of new players are focusing on
developing smart devices to provide real-time end to end services and to gain
future business opportunities. Many major players are launching new products to
maintain their leadership in the market. Apart from this, the big players are
acquiring small companies to enhance their product portfolio and retain their
market leadership. For instance, in February 2016, ResMed acquired Inova Labs
Inc., a privately-held company that develops and commercializes innovative
oxygen therapy products. Significant investments in R&D in this market are
expected to increase, and collaborations, merger & acquisition activities
are expected to continue.
Benefits: The report provides complete details about the usage and adoption
rate of respiratory devices by various end-users and in regions. With that, key
stakeholders can know about the major trends, drivers, investments, vertical
player’s initiatives, and government initiatives towards the respiratory
devices adoption in the upcoming years along with the details of commercial
devices available in the market. Moreover, the report provides details about
the major challenges that are going to impact on the market growth.
Additionally, the report gives the complete details about the key business
opportunities to key stakeholders to expand their business and capture the
revenue in the specific verticals to analyze before investing or expanding the
business in this market.
Key Stakeholders:
FOR MORE
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