Harrisburg, NC -- (SBWIRE) -- 10/21/2020 -- The Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market report is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
The global respiratory devices and equipment (therapeutic and diagnostic) market was valued at about $12.3 billion in 2018 and is expected to grow to $13.37 billion at a CAGR of 2.1% through 2022.
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In 2016, North America was the largest region within the respiratory devices and equipment (therapeutic and diagnostic) market. During the forecast period, Asia Pacific respiratory devices and equipment (therapeutic and diagnostic) market is forecasted to register the highest CAGR.
Global therapeutic respiratory devices and equipment market will be driven by the increase in diseases such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and lung cancer. Growth in geriatric population, tobacco consumption, allergens and air pollutants increase the prevalence of respiratory diseases, in turn driving the global therapeutic respiratory devices market. According to World Health Organisation,4.9 million people die due to tobacco consumption, and smoking causes chronic obstructive pulmonary diseases (1 million deaths annually), cardiovascular and respiratory diseases (1.7 million deaths annually) and lung cancer (0.85 million deaths annually). According to an Italian journal, COPD in U.S. is estimated to be 10% in the population aged 75 years or over. According to Asthma UK, 5.4 million people in the UK are currently receiving treatment for asthma out of these 1.1 million are children and 4.3 million are adults.
Longer duration of time taken in the approval process of the respiratory devices is restricting the respiratory devices and equipment market growth. Before a new respiratory device is introduced to the market, it takes 7.2 months for the FDA approval process, which adds to development costs to be borne by device manufacturers, thus acting as a restraint hindering the market growth. For instance, FDA reviews about 4,000 submissions every year and takes about 3 to 6 months in clearing most of them. In addition to this, to reduce incidences associated with the respiratory devices and ensure that the devices are safe and have least adverse reactions, Medicines and Healthcare products Regulatory Agency (MRHA), UK regulates and monitors the devices by restricting devices for use and sending field safety notice to correct the devices. These stringent approval processes and regulatory policies may impact the respiratory devices and equipment market.
Scope of the Report:
Markets Covered: 1) By Type: Diagnostic devices, Therapeutic devices, Monitoring devices 2)By End User: Hospitals, Clinics, Homecare settings, Ambulatory service centers, 3) By Therapeutic Devices: Humidifiers, Nebulizers, Oxygen concentrators, Positive Airway Pressure (PAP) Devices, Ventilators, Others 4) By Diagnostic Devices: Spirometer, Polysomnographs, Peak Flow Meters 5) By Monitoring Devices: Pulse oximeters, Capnographs, Gas analyzers 6) By Application: Chronic Obstructive Pulmonary Disease (COPD), Asthma, Obstructive Sleep Apnea (OSA), Respiratory Distress Syndrome (RDS), Cystic Fibrosis, Pneumonia
Companies Mentioned: Smiths Medical, Philips Healthcare, GE Healthcare, Chart Industries, Invacare Corporation
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, Respiratory Devices And Equipment (Therapeutic And Diagnostic) indicators comparison.
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Influence of the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Report:
-Comprehensive assessment of all opportunities and risks in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) market.
-The detailed study of business strategies for the growth of the Respiratory Devices And Equipment (Therapeutic And Diagnostic) market-leading players.
-Conclusive study about the growth plot of the Respiratory Devices And Equipment (Therapeutic And Diagnostic) market for forthcoming years.
-In-depth understanding of Respiratory Devices And Equipment (Therapeutic And Diagnostic) market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Respiratory Devices And Equipment (Therapeutic And Diagnostic) market.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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