(EMAILWIRE.COM, August 19, 2021 ) Overview of This Study:

This study involved four major activities for estimating the current size of the global respiratory care devices market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets.

The next step focused on validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and sub-segments.

Revenue Growth Predictions:

The respiratory care devices market is expected to reach USD 29.9 billion by 2025 from USD 16.0 billion in 2019, at a CAGR of -12.5% during the forecast period of 2020 to 2025. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for respiratory care devices. Thus, the respiratory care devices market witnessed a CAGR of 261.1% between 2019 and 2020. In 2020, respiratory care devices market reached to USD 58.1 billion.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=368

Growth Influencing Factors:

The growth of this market is mainly attributed to the high prevalence of respiratory diseases, rising aging population across the globe, high prevalence of smoking, rising urbanization and pollution levels, increasing incidence of preterm births, and lifestyle changes. However, a lack of awareness—leading to a large under-diagnosed and under-treated population—and the harmful effects of certain respiratory care devices on neonates have hampered market growth to an extent.

In this report, the respiratory care devices market is segmented on the basis of product, indication, end user, and region.

The inhalers segment is estimated to grow at the highest CAGR in the respiratory care devices market, by type, in 2019

Based upon product, the respiratory care devices market is segmented into therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories. In 2019, the therapeutic devices segment accounted for the largest share of the respiratory care devices market. The different types of therapeutic devices covered in this report are humidifiers, nebulizers, oxygen concentrators, positive airway pressure (PAP) devices, reusable resuscitators, ventilators, inhalers, masks, nitric oxide delivery units, and oxygen hoods Inhalers segment is anticipated to witness highest CAGR amongst therapeutic devices. Inhalers are widely used in the treatment of major respiratory ailments. They are categorized as metered-dose inhalers (MDIs) and dry-powder inhalers (DPIs). The high incidence of asthma is a key factor driving the growth of the global inhalers market in the forecast period.

The COPD segment will continue to dominate the respiratory care devices indication market during the forecast period

Based on indication, COPD held the largest share of the respiratory care devices market in 2019. This was followed by sleep apnea, asthma, and infectious diseases. The large share of COPD segment can be attributed to the increasing prevalence of smoking and environmental factors. This segment is also expected to show the highest growth in the market, followed by asthma. Moreover, the recent outbreak of COVID-19 will also have an impact on COPD patients. While they are not at a higher risk of contracting the disease, it can have severe effects on such patients. Hence, the high prevalence of COPD and the growing number of deaths caused by COPD are expected to drive the demand for respiratory care devices during the forecast period.

Hospitals are the largest end users of respiratory care devices

Based on end user, the respiratory care devices market is segmented into broadly categorized into three major end-user segments—hospitals, home care settings, and ambulatory care centers. In 2019, hospitals accounted for the largest market share. Growing public-private partnerships to improve access to healthcare services along with rapid developments in healthcare infrastructure and improving access to healthcare services are expected to be the key factors driving the growth of the respiratory care devices market for hospitals in emerging economies in the coming years.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=368

Geographical Segmentation:

Asia Pacific market to witness the highest growth during the forecast period
The respiratory market is divided into five regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country levels. North America held the largest share of the respiratory care devices market in 2019, followed by Europe and the Asia Pacific.

The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, due to due to the presence of a large pool of respiratory patients, increasing healthcare expenditure, rapidly developing healthcare infrastructure, rising per capita income, growing middle-class population, and growing prevalence of tobacco smoking in this region. Also, APAC is becoming a medical tourism hub and is considered as one of the fastest-growing markets for medical procedures and devices. Low infrastructure and treatment costs and the availability of highly educated physicians have driven medical tourists to APAC countries, particularly India and China.

Key Players:

Some of the prominent players operating in this market include Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare (New Zealand), Drager AG (Germany), Invacare Corporation (US), Nihon Kohden (Japan), Getinge AB (Sweden) and Air Liquide (France).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com