Global Respiratory Devices Market Expected to Register a Value of US$22.1 bn by 2025

Posted on 2018-01-29 by Mark Hub in Healthcare // 0 Comments

Albany, USA, 2018-Jan-29 — /EPR Network/ —This research report offers a comprehensive analysis of the “Respiratory Devices Market – Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025” The main objective of this report is to deliver insightful information and clear-cut facts pertaining to the growth trajectories of the market.

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Global Respiratory Devices Market: Snapshot

The global respiratory devices market features fragmentation with the presence of numerous players of varying sizes. Small and medium size companies operate in niche market segments – a distinguishing feature of the market. The focus of leading players in the market is to leverage new technologies in order to upgrade their existing products as well as to expand their product portfolios.

The increasing prevalence of COPD, asthma, and other respiratory conditions is the key growth driver of the global respiratory devices market. These conditions are related to rising pollution level, changing environmental conditions, and a large population of tobacco users and smokers. As per the WHO, COPD accounted for 3 million deaths globally in 2015, which accounted for 5% of total deaths across the world in the same year.

As per a report by Transparency Market Research, the global respiratory devices market is expected to become worth US$22.1 bn by the end of 2025 expanding at a CAGR of 6.1% from 2017 to 2025.

Therapeutic Devices Product Segment to Display Robust Growth through 2025

Product-wise, the segments into which the global respiratory devices market is segmented in this report are therapeutic devices, respiratory disposables, and monitoring and diagnostic devices. The segment of therapeutic devices is further segmented into humidifiers, positive airway pressure, nebulizers, oxygen concentrators, reusable resuscitators, ventilators, inhalers, and others. The positive airway pressure segment within therapeutic devices is predicted to display an outstanding 7.7% CAGR between 2017 and 2025. The segments of oxygen concentrators and ventilators are also expected to contribute substantially to the growth of therapeutics devices segment vis-à-vis revenue.

Tracheostomy tubes and reusable resuscitators within respiratory disposable segment majorly contribute to the growth of the segment. The diagnostic and monitoring devices segment is mainly driven by the growth of polysomnography devices.

The application segments into which the global respiratory devices market is segregated in this report are COPD, asthma, obstructive respiratory syndrome, respiratory distress, cystic fibrosis, and pneumonia. Of them, asthma is the application leading segment of respiratory devices market. This is followed by COPD mainly due to rising pollution level and an increasing number of smokers. As per the Global Asthma Report, by 2014, asthma has affected approximately 334 million individuals of all age globally.

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Cystic fibrosis application segment is also a significant contributor to the global respiratory devices market. In the U.S., approximately 1,000 new cases of cystic fibrosis are diagnosed each year. In Europe, the incidence of cystic fibrosis is 1 every in 2000-3000 newborns.

Geographically, the global respiratory devices market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Asia Pacific to Clock 6.5% CAGR due to Increasing Incidence of Respiratory Diseases

North America, amongst all, stood as the leading regional market in 2016. The region is expected to hold on to its lead position until 2025. As per statistics of the Centers for Disease Control and Prevention, over 16 million people in the U.S. are affected by respiratory disorders such as lung cancer, COPD, and heart diseases due to smoking. According to data of the U.S. Department of Health National Heart, Lung, and Blood Institute, every year almost 2.5 million to 3.0 million patients in the U.S. require oxygen therapy.

Asia Pacific, powered by China and India, is expected to display an impressive 6.5% CAGR over the forecast period between 2017 and 2025. Increasing pollution level due to rampant industrialization and urbanization are key factors behind increasing prevalence of COPD and other respiratory disorders in these countries.

Some of the key companies in the global respiratory devices market are Chart Industries Inc., Koninklijke Philips N.V., Resmed Inc., GE Healthcare, Becton, Dickinson and Company, Teleflex Incorporated, Medtronic plc., Smiths Medical, Drägerwerk AG & Co KGaA, Fisher & Paykel Healthcare Limited, and Getinge AB.

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