The global respiratory care devices market size is expected to register a significant growth at 10.1% CAGR during the forecast period (2018–2023).
The respiratory care devices are used for treatment, assessment, diagnosis, and care of patients suffering from cardiopulmonary devices. Respiratory care devices are used in the treatment of lung diseases such as chronic bronchitis, tuberculosis, acute and chronic pulmonary diseases, asthma, and others. With the growing age, the function of lungs starts to decline and hence the respiratory system undergoes various physiological, functional and immunological changes. The market growth is due to the rising incidences of chronic pulmonary diseases, asthma, and others. These devices can be used in hospitals and in-home care settings as they have developed from stationary to portable ones.
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Factors such as the increasing frequency of respiratory diseases, increasing geriatric population, urbanization, and its adverse effects, and changes in the environment and lifestyle boosts the growth of the market. The growing demand for point-of-care diagnostic devices in developing regions is anticipated to provide new opportunities for players in the respiratory care devices market. The lack of awareness about respiratory problems, intense competition, and the cost associated with the device and the respiratory surgery hamper the growth of the market.
Segmentation The global respiratory care devices market has been segmented on the basis of therapeutic devices, monitoring devices, diagnostic devices, accessories and consumables, application, and end-users. On the basis of therapeutic devices, the market has been classified as pap devices, masks, ventilators, nebulizers, humidifiers, oxygen concentrators, inhalers, reusable resuscitators, nitric oxide delivery units, and oxygen hoods. On the basis of monitoring devices, the market has been classified as pulse oximeters, pulse oximeter sensors, pulse oximeter equipment, capnographs, and gas analyzers. On the basis of diagnostic devices, the market has been classified as spirometers, polysomnography (PSG) devices, peak flow meters, and other diagnostic devices. On the basis of accessories and consumables, the market has been classified as disposable masks, disposable resuscitators, tracheostomy tubes, nasal cannulas, and other consumables and accessories. On the basis of application, the market has been classified as chronic obstructive pulmonary disease (COPD), sleep apnea, asthma, infectious diseases, and other diseases. On the basis of end-users, the market has been classified as hospitals, clinics, ambulatory care, home care, and others. Regional Analysis The Americas is projected to lead the respiratory care devices market during the forecast period. Increasing healthcare awareness, advancement in technology, and medical tourism are some other factors that boost the growth of the market. According to the statistics of Life and Breath, on an average 72 Canadians were diagnosed with lung cancer daily and 56 Canadians died from lung cancer on a daily basis in 2014. The European market is expected to hold the second largest market share. According to the statistics of the British Lung Foundation in the year 2014, around 10,000 people in the UK are newly diagnosed with a respiratory disease every week. According to the statistics of the British Lung Foundation, lung diseases are accountable for more than 7,00,000 hospital admissions and over 6 million inpatient bed-days in the UK each year. Asia-Pacific is projected to be the fastest growing region for the global respiratory care devices market in 2018. The market is expected to witness growth owing to the rising patient population, changing lifestyle, and growing elderly population. This is expected to provide favorable backgrounds for the market to grow. According to the Asia-Pacific Lung Cancer Conference (APLCC), 90% of the lung cancer cases are due to the rise in the consumption of tobacco. The Middle East and Africa accounts for the least share due to stringent government policies and low per capita income. Key Players Some of the key players in the global respiratory care devices market are Philips Healthcare (The Netherlands), ResMed, Inc. (US), Medtronic plc (Ireland), Masimo Corporation (US), and Fisher & Paykel Healthcare Corporation Limited (New Zealand), Becton, Dickinson and Company (US), Chart Industries, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), and Hamilton Medical AG (Switzerland). Browse More Details of the Report @ https://www.marketresearchfuture.com/reports/respiratory-care-devices-market-6517
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