$27.6 Bn Respiratory Care Devices (Therapeutic, Monitoring, Diagnostic, Consumables) Markets – Global Forecast to 2026 – ResearchAndMarkets.com

$27.6 Bn Respiratory Care Devices (Therapeutic, Monitoring, Diagnostic, Consumables) Markets – Global Forecast to 2026 – ResearchAndMarkets.com

$27.6 Bn Respiratory Care Devices (Therapeutic, Monitoring, Diagnostic, Consumables) Markets – Global Forecast to 2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Respiratory Care Devices Market by Product (Therapeutic [Ventilator, Mask, PAP Device, Inhaler, Nebulizer], Monitoring [Pulse Oximeter, Capnograph], Diagnostic, Consumables), End-user (Hospital, Home Care), COVID-19 Impact – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.

The global respiratory care devices market is expected to reach USD 27.6 billion by 2026 from USD 18.4 billion in 2021, at a CAGR of 8.5% during the forecast period of 2021 to 2026.

Due to the outbreak of corona virus globally, there is a sudden rise in the demand for respiratory care devices. The major factor driving the growth of the respiratory care devices market is the high prevalence of respiratory diseases as a result of the rapid growth in the global geriatric population, high prevalence of tobacco smoking, urbanization and growing levels of pollution, and changing lifestyle.

However, factors such as the presence of an unfavorable reimbursement scenario and the availability of low-cost products from local manufacturers are expected to restrain the growth of this market during the forecast period.

COPD segment is anticipated to witness the fastest growth during the forecast period

COPD is a medical term referring to a group of lung diseases, including chronic bronchitis and emphysema. It is an inflammatory and progressive life-threatening lung disease characterized by a persistent blockage of airflow from the lungs. One of the major causes of COPD is tobacco smoking.

According to the US CDC, as many as eight in 10 COPD-related deaths are due to smoking. Additionally, rising indoor (biomass fuel) and outdoor air pollution levels, exposure to dust and chemicals (vapors, irritants, and fumes), genetic disorders, and increasing geriatric population are other factors driving the prevalence of COPD. The elements, as mentioned above, are expected to drive the demand for respiratory care devices during the forecast period.

Hospitals is the largest end-user segment in the respiratory care devices market in 2020

Based on end-user, the respiratory care devices market is divided into hospitals, home care settings and ambulatory care. Hospitals form the largest end-user segment of the respiratory care devices market.

This can largely be attributed to the financial capabilities of hospitals to purchase expensive equipment and the availability of trained professionals in hospitals to operate respiratory care devices. Hospitals provide respiratory care services to patients through various departments, such as intensive care units, emergency rooms, outpatient departments, and pulmonary diagnostic laboratories, among others.

Moreover, COVID-19 has tremendously impacted o the hospital segment. Several hospitals have been established in order to cure an increasing number of patients infected from the coronavirus.

North America will continue to dominate the respiratory care devices market in 2026

In 2020, North America accounted for the largest share of the respiratory care devices market. The large share of North America in this market can be attributed to the outbreak of COVID-19, which has driven the demand for respiratory devices in North America.

Due to its growing geriatric population segment and environmental conditions that have favored the spread of the disease, COVID-19 has severely affected the region and ensured enormous growth in the demand for respiratory care devices. Players in this and adjacent, or even non-related, markets have focused on or collaborated for expanding the manufacturing of critical care instruments and respiratory care devices.

Competitive landscape

Some of the prominent players in the respiratory care devices market are Philips Healthcare (Netherlands), ResMed (US), Medtronic (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare (Netherlands), Getinge AB (Sweden), Air Liquide (France), Dragerwerk (Germany), Hamilton Medical (Switzerland), and Invacare Corporation (US).

Premium Insights

  • Rising Prevalence of Respiratory Diseases to Drive the Market Growth During the Forecast Period
  • The US Accounted for the Largest Share of the Respiratory Care Devices Market in North America in 2020
  • China to Grow at the Highest Rate During the Forecast Period
  • North America Will Continue to Dominate the Respiratory Care Devices Market During the Forecast Period
  • Developing Markets to Register the Highest Growth During the Forecast Period

Market Dynamics: Impact Analysis

Market Drivers

  • Rising Prevalence of Respiratory Diseases
  • Rapid Growth in the Global Geriatric Population
  • Urbanization and Growing Pollution Levels
  • High Prevalence of Tobacco Smoking
  • Changing Lifestyles
  • Increasing Incidence Rate of Preterm Births
  • Outbreak of Infectious Diseases Affecting the Respiratory System
  • Underpenetrated Markets in Sleep and COPD
  • Focus on Improving Patient Outcomes
  • Rising R&D Investments Resulting in Technologically Advanced Devices

Market Restraints

  • Unfavorable Reimbursement Scenario
  • Availability of Low-Cost Products from Local Manufacturers
  • High Cost of CPAP Machines

Market Opportunities

  • Growing Demand for Home Care Therapeutic Devices
  • High Growth in Developing Countries Across the Asia-Pacific and Latin America
  • Point-Of-Care Diagnostics
  • Growing Awareness About the Ill-Effects of Untreated Sleep Apnea

Market Challenges

  • Low Awareness and a Large Underdiagnosed and Undertreated Population
  • Harmful Effects of Certain Devices on Neonates
  • Lack of Patient Compliance

Industry Insights

  • Industry Trends
  • Rising Demand for Enhanced Compact & Portable Devices
  • Key Focus of Market Players on Geographical Expansions
  • Growing Demand for Multimodal Ventilation
  • Rising Adoption of Noninvasive Ventilation
  • Impact on Patient’s Lives with the Introduction of Innovative Solutions for Unmet Patient Needs
  • Introduction of Innovative Solutions Lowering the Overall Costs for Sleep Apnea Treatment

Technology Trends

  • E-Nose Technology
  • Mems Technology
  • Electrochemical Technology
  • Wireless Gas Sensor Technology

Artificial Intelligence in the Ventilators Market

  • the Future of Healthcare – Big Data and Artificial Intelligence
  • Knowledge-Based Systems for Ventilation Management
  • COVID-19 to Drive the Demand for Artificial Intelligence in Ventilators

Sensor Technologies in Ventilators

  • Flow Sensors
  • Oxygen Sensors
  • Pressure Sensors

Patent Analysis

  • Patent Publication Trends
  • Jurisdiction Analysis: Top Applicants (Countries) for Respiratory Care Device Patents
  • Jurisdiction Analysis for the US (2014-2021)

Case Studies

  • Replacement Pattern of Ventilators: Developed Economies vs. Developing Economies
  • Volume Data of Ventilators, ICU Ventilators, Portable Ventilators, Pap Devices, CPAP Devices, BiPAP Devices and Spirometers

Companies Mentioned

  • AdaptHealth, LLC
  • Air Liquide
  • Allied Healthcare Products, Inc.
  • Apex Medical Corporation
  • Drive Devilbiss Healthcare
  • Dragerwerk AG & Co.
  • General Electric Healthcare (GE Electric)
  • Getinge AB
  • Hamilton Medical AG
  • Hill-Rom, Inc.
  • HUM GmbH
  • Invacare Corporation
  • Masimo Corporation
  • Medline Industries, Inc.
  • Medtronic plc
  • Nihon Kohden Corporation
  • Nonin
  • Omron Healthcare, Inc.
  • Philips Healthcare
  • ResMed, Inc.
  • Rotech Healthcare, Inc.
  • Smiths Medical
  • Teleflex Incorporated
  • Vyaire Medical

For more information about this report visit https://www.researchandmarkets.com/r/oswnbk



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