The global respiratory therapeutic devices market is expected to exhibit a robust 10.8% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The report presents a detailed overview of the global respiratory therapeutic devices market by providing detailed information about the market’s historical growth trajectory and major drivers and restraints affecting the market’s movement. The leading drivers and restraints having a lasting impact on the global respiratory therapeutic devices market are profiled in detail in the report to give readers a clear idea of what is impacting the market most decisively. Major players in the global respiratory therapeutic devices market are also profiled in the report.
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Respiratory therapeutic devices are medical devices used in the treatment of respiratory, i.e. cardiopulmonary disorders. These devices are extensively used in the treatment of cardiopulmonary disorder such as chronic obstructive pulmonary disease, asthma, acute bronchitis, cystic fibrosis, and others. The growing problem of air pollution around the world has led to a growing prevalence of lung diseases in recent years. This has been a key driver for the respiratory therapeutic devices market.
The growing coronavirus pandemic has been a key driver for the respiratory therapeutic devices market. Coronavirus treatment relies on ventilators in a major way, leading to a growing demand for ventilators from across the entire world. Ventilators are used to assist respiration in patients of coronavirus, leading to a growing demand for the same in 2020. Other respiratory devices such as HEPA filters have also experienced increased demand due to the coronavirus pandemic. The increasing prevalence of coronavirus around the world is likely to be a major driver for the global respiratory therapeutic devices market over the forecast period, especially in the near future.
Competitive Leaderboard:
Leading players in the global respiratory therapeutic devices market include ACare Technology, Chart Industries, Rotech Healthcare Inc., Bayer AG, F. Hoffman-La Roche Ltd., Smiths Group plc, BD, and Masimo. Product development is likely to be a major tactic employed by players in the global respiratory therapeutic devices market in the coming years. Increasing production and developing new varieties of products are likely to be major strategies among the leading players in the respiratory therapeutic devices market. R&D to improve the products used in the treatment of respiratory conditions is also a major tactic for players in the respiratory therapeutic devices market.
In March 2020, Hamilton Medical increased its capacity to produce ventilation solutions by 50%.
Segmentation:
The global respiratory therapeutic devices market is segmented on the basis of product, technology, application, end users, and region.
On the basis of the product, the respiratory therapeutic devices market is segmented into nebulizers, capnography, humidifiers oxygen concentrators, and others. The nebulizers segment is sub-segmented into soft mist inhaler, human-powered nebulizer, and others. The capnography segment is sub-segmented into main-stream capnography, side-stream capnography, and others.
On the basis of the technology, the respiratory therapeutic devices market is segmented into electrostatic filtration, HEPA filtration, hollow fiber filtration, microsphere separation, and others.
On the basis of the application, the respiratory therapeutic devices market is segmented into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and others.
On the basis of the end users, the respiratory therapeutic devices market is segmented into hospitals & clinics, retail pharmacies, home care, and others. Hospitals and clinics hold the largest share in the global respiratory therapeutic devices market.
Regional Analysis:
The Americas dominate the global respiratory therapeutic devices market and are likely to remain the largest revenue generator in the global market over the forecast period. The presence of a strong healthcare sector in North America, including the U.S. and Canada, is the major driver for the respiratory therapeutic devices market in the Americas. Europe followed the America in 2016 and is likely to remain the second largest regional market over the forecast period. The increasing geriatric population in Europe is likely to be a key driver for the respiratory therapeutic devices market in the region over the forecast period.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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The global respiratory therapeutic devices market is expected to exhibit a robust 10.8% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR).
These devices are extensively used in the treatment of cardiopulmonary disorder such as chronic obstructive pulmonary disease, asthma, acute bronchitis, cystic fibrosis, and others.
The growing problem of air pollution around the world has led to a growing prevalence of lung diseases in recent years.
Other respiratory devices such as HEPA filters have also experienced increased demand due to the coronavirus pandemic.
The increasing prevalence of coronavirus around the world is likely to be a major driver for the global respiratory therapeutic devices market over the forecast period, especially in the near future.Competitive Leaderboard:Leading players in the global respiratory therapeutic devices market include ACare Technology, Chart Industries, Rotech Healthcare Inc., Bayer AG, F. Hoffman-La Roche Ltd., Smiths Group plc, BD, and Masimo.
Increasing production and developing new varieties of products are likely to be major strategies among the leading players in the respiratory therapeutic devices market.
Respiratory Therapeutic Devices Market Research Report, By Product (Nebulizers, Humidifiers) By Technology (Electrostatic Filtration, HEPA) By Application (Asthma, COPD, Cystic Fibrosis) By End Users (Hospitals, Home Care) - Global Forecast till 2023 Competitive LandscapeACare Technology (Taiwan), Drägerwerk AG (U.S.), Rotech Healthcare Inc. (U.S.), Chart Industries (U.S.), GE Healthcare (U.K), Koninklijke Philips N.V (the Netherlands), Bayer AG (Germany), Smiths Group Plc.
Overview The growth of the Global Respiratory Therapeutic Devices Market is primarily led by the recent surge in the incidence of chronic respiratory diseases such as asthma, COPD, and sleep disorder breathing.
As per the estimates of the World Health Organization (WHO), approximately 235 Mn people suffered from asthma in 2017 across the globe.
Moreover, with the increase in the global aging population, there is a greater need for respiratory therapeutic devices.
The aged populace is more susceptible to suffering from such disorders and can help stimulate market growth.
Technological advancements in respiratory therapeutic devices which have resulted in the incorporation of advanced features along with outlay of massive amounts on R activities by medical device manufacturers are expected to foster the growth of the market.
