Respiratory care device market size was estimated at USD _43.7 million in 2020 and is forecast to reach USD _87.9 million by 2027, growing at a CAGR of _9.6%.
Respiratory care devices are devices that are mostly used for diagnosis, monitoring, and also for the curing of respiratory diseases for example chronic obstructive pulmonary diseases, asthma, tuberculosis, pneumonia, and acute bronchitis. These medical equipment provide care to patients suffering from acute and chronic respiratory diseases. According to the OMR analysis, the pulse oximetry market is anticipated to rise at a proper rate throughout the forecast period.
Smart pulse oximeters devices have become popular in comparison to other respiratory other care devices in recent times. The global geriatric population has encountered an unbelievable increase in the latest times. Population aging is related to progressive falls in lung functioning and a rise in the prevalence of acute breathing diseases such as chronic obstructive pulmonary disease and asthma. The inhaling and exhaling undergo various anatomical, physiological, and immune system changes with the rising age of the population. The changes in the structure, which also inculcates deformities in the chest wall and thoracic spine, and also impairs the functioning of the respiratory system and also leads to complexities in respiration. The incidence in the rate of breathing diseases is anticipated to increase in the time to come; therefore also driving the globe respiratory care monitoring devices market.
Respiratory Care Device Market Growth and Trends
The respiratory care devices market is anticipated to gain market growth in the coming years with the increasing number of clinical trials along with increasing incidence of respiratory diseases and demand for advanced portable respiratory care devices. With high levels of utility of respiratory care devices in the cases of degenerative lung diseases including chronic bronchitis, asthma, emphysema, chronic and acute respiratory diseases, there is a steep market growth for the same. Cases of respiratory illness are on the rise among the worldwide population owing to smoking, vehicular smoke emissions, and industrialization raise the demand for respiratory care devices. Growing prevalence of preterm birth increase amidst urbanization and pollution and altering lifestyle of people and environment positively influence the market. Rise in the geriatric population along with the presence of a strong pipeline of products in the respiratory care devices market and the increasing demand for home care therapeutic devices owing to their easy-to-use feature and prospective initiatives by the government extend profitable opportunities to the market players. Currently, with the incidence of the Covid-19 pandemic, the demand for respiratory care devices, such as ventilators, positive airway pressure devices, including nebulizers, masks, and oxygen concentrators, has shot up significantly in the healthcare sector on a worldwide scale. The North American region is expected to show significant market growth for respiratory care devices owing to enhanced modes of diagnosis. Developing nations like India and China are also witnessing market growth for increasing levels of pollutions that are leading to higher incidence of respiratory and cardiopulmonary ailments.
Excessive tax on respiratory care devices and risks associated with the therapeutic devices for neonates are some factors anticipated to obstruct the market growth. Also, the lack of awareness about the devices among people is a limiting factor that challenges the respiratory care devices market.
Respiratory Care Device Market Competition
Key companies operating in this industry are ResMed, Philips Respironics, Covidien(Medtronic), Fisher and Paykel Healthcare, Maquet, CareFusion Corporation (BD), Dräger, Teleflex, DeVilbiss Healthcare(Drive Medical), Invacare, Chart Industries, Weinmann, Inogen, Yuyue Medical, Masimo Corporation, Hamilton Medical, Nihon Kohden Corporation, Omron Healthcare, ACOMA, Heyer Medical, Breas Medical, PARI Medical Holding GmbH, BMC Medical, GF Health Products, MGC Diagnostics Corporation, SDI Diagnostics, Apex Medical and Sysmed.
Coverage Highlights
• Respiratory Care Device Market Revenue Estimation and Forecast (2020 – 2027)
• Production Estimation and Forecast (2020 – 2027)
• Sales/Consumption Volume Estimation and Forecast (2020 – 2027)
• Breakdown of Revenue by Segments (2020 – 2027)
• Breakdown of Production by Segments (2020 – 2027)
• Breakdown of Sales Volume by Segments (2020 – 2027)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
Respiratory Care Device Market Segmentation
Product Outlook (Revenue, USD Million, 2020 - 2027)
• Therapeutic Device
• Monitoring Device
• Diagnostic Device
Application Outlook (Revenue, USD Million, 2020 - 2027)
• Home Care
• Hospital
Country (Revenue, USD Million, 2020 - 2027)
North America
• United States
• Canada
• Mexico
Asia-Pacific
• China
• Japan
• South Korea
• India
• Philippines
• Malaysia
• Australia
• Rest of Asia Pacific
Europe
• Italy
• Spain
• France
• UK
• Germany
• Belgium
• Netherlands
• Switzerland
• Russia
• Rest of Europe
South America
• Brazil
• Peru
• Chile
• Rest of South America
The Middle East and Africa
• Iran
• Israel
• Saudi Arabia
• Turkey
• Africa
Respiratory Care Device Market Companies
• ResMed
• Philips Respironics
• Covidien(Medtronic)
• Fisher and Paykel Healthcare
• Maquet
• CareFusion Corporation (BD)
• Dräger
• Teleflex
• DeVilbiss Healthcare(Drive Medical)
• Invacare
• Chart Industries
• Weinmann
• Inogen
• Yuyue Medical
• Masimo Corporation
• Hamilton Medical
• Nihon Kohden Corporation
• Omron Healthcare
• ACOMA
• Heyer Medical
• Breas Medical
• PARI Medical Holding GmbH
• BMC Medical
• GF Health Products
• MGC Diagnostics Corporation
• SDI Diagnostics
• Apex Medical
• Sysmed
