The Global Respiratory Devices Market is anticipated to reach $22.63 billion by 2021 due to growing Lung infections such pneumonia and lung cancer, COPD, and tuberculosis
Hyderabad, India -- (SBWIRE) -- 01/10/2018 -- The Global Respiratory Devices Market was worth $14.44 billion in 2016 and estimated to be growing at a CAGR of 9.40%, to reach $22.63 billion by 2021.
Respiratory diseases are the principal cause of deaths globally. Lung infections like pneumonia and lung cancer, chronic obstructive pulmonary disease (COPD), and tuberculosis together accounted for around 12.5 million deaths globally during 2015, which is one-fifth of the worldwide total. These devices help in the elimination of mucus from the respiratory airways and in doing so enhance the pulmonary function. Respiratory devices are medical devices that are used to aid patients who are suffering from respiratory problems and cannot attain sufficient oxygen levels to sustain life.
Browse through our TOC at Respiratory Devices Market by Type (Therapeutic Devices-BI-PAP Devices, Nebulizers, Ventilators, Resuscitators, CPAP Devices, Humidifiers, Oxygen Concentrators, Inhalers; Diagnostic and Monitoring Devices-Sleep Test Devices, Pulse Oximeter, Spirometers, Peak Flow Meters, Capnographs; Disposables-Cannulas, Filters, Masks, Tubes, Breathing Circuits) and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
The growth of Global Respiratory Devices Market is mainly driven by factors such as an increase in the prevalence of respiratory diseases such as asthma and COPD. Technological advancements have hiked market growth, mostly from the need for sophisticated and novel machines and equipment. The development of stand-alone machines to fully intricate integrated systems combined with ongoing innovation has developed productivity and efficiency of data. The evergrowing geriatric population, the prevalence of smoking, rising pollution levels and lifestyle changes. The market is witnessing the emerging trend of intelligent ventilators
Lack of Public awareness, growing healthcare cost containment pressure and harmful effects of certain respiratory care devices on neonates in the emerging regions are the main factors hindering the growth of the market.Rapid advancements in the anaesthesia industry are making increasingly difficult for the anesthesiologists to keep up with anaesthesia machine technology.The latest anaesthesia technology is not high priced.
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The Global Respiratory Devices market is segmented based on Type. The market for Respiratory Devices, on the basis of type, is segmented into Diagnostic,Monitoring Devices, Disposables, and therapeutic devices. On the basis of Therapeutic Devices, the global Respiratory Devices market is segmented into BI-PAP Devices, Nebulizers, Ventilators, Resuscitators, CPAP Devices, Humidifiers, Oxygen Concentrators, Inhalers. On the basis of Diagnostic and Monitoring Devices, the global Respiratory Devices market is segmented into Sleep Test Devices, Pulse Oximeter, Spirometers, Peak Flow Meters, Capnography. On the basis of Disposables, the global Respiratory Devices market is segmented into Cannulas, Filters, Masks, Tubes, Breathing Circuits. Based on End Users the Global Respiratory Devices market is segmented into Hospitals and Home Care.
In 2015, the therapeutic devices segment accounted for the major share of the global respiratory devices market. This is mainly accredited to the growing adoption of several therapeutic devices such as PAP devices, humidifiers, and oxygen concentrators due to increase in the elderly populace and increasing frequency of respiratory diseases.
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Highly advanced healthcare systems and mounting healthcare costs are the main factors responsible for the large shares of North America and Europe in the global respiratory care devices market. However, the Asia-Pacific region is projected to grow at the highest CAGR, owing to the presence of a vast pool of respiratory patients.
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