Global Respiratory Care Device Market Overview
Respiratory diseases are the most lethal type of disease causing one-sixth of all the death worldwide. The Medical devices which mainly focuses on the treatment, management, control, diagnostics and care of patient with abnormality in cardiopulmonary system gathers under respiratory care devices. The devices are used in chronic obstructive pulmonary diseases (COPD), a degenerative lung disease which primarily includes chronic bronchitis, and emphysema. Patients suffering from such acute and chronic respiratory diseases are cared by these devices.
Increase in number of chronic pulmonary obstructive diseased patients, high smoking global population, increasing geriatric population urbanization, environment change, pollution are the major drivers due to which the market in respiratory care devices are increasing day by day. The growing demand for point-of-care diagnostic devices in developing regions is anticipated to provide new opportunities for players in the respiratory care devices market. Product innovation of the medical devices gives out a major trend to boost up the global respiratory care devices market. In the launch of new products, respiratory care device companies are actively involved, to develop more innovative and advance devices. This in turn increases the need of medical devices which are home cared. However, lack of awareness about respiratory problems, intense competition, and the cost associated with the device and the respiratory surgery inhibit the growth of the market.
Global Respiratory care devices are segmented on the basis of device type, user type, disease and region.
On the basis of device type, the target market is classified into diagnostic devices, therapeutic devices, monitoring devices and consumables. Diagnostic devices are further classified into spirometers, polysomnography devices, peak flow meters. Therapeutic devices are further classified into humidifiers, positive airway pressure devices, nubulizers, inhalers, ventilators, oxygen concentrators. Monitering devices are further classified into pulse oximeter, gas analyzer and capnographs. Further segmentation of the consumables segment are disposable masks, tracheostomy tubes, disposable resuscitators. The product segment of therapeutic devices has been witnessing growth at a noteworthy rate over the past few years backed by increasing production of technical advance PAP devices, rising prevalence of COPD disorders as well as increasing healthcare expenditure. On the basis of end user, the market is divided into hospitals, home care. On the basis of disease, its segmented into chronic obstructive pulmonary disease (COPD), asthma, sleep apnea, infectious diseases.
On the basis of region, the Global respiratory care device market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Growth rate of North America region include well developed healthcare infrastructure, favorable regulatory reforms, surging adoption of technical advance respiratory care devices as well as rising old age population in the region. On the other hand, Asia Pacific is likely to register a promising growth rate in the next few years, due to the increasing contribution from India and China.
Key player operating in global respiratory care device market includes, AstraZeneca PLC, Ge Healthcare Pvt Lt, GlaxoSmithKline pvt lt, Medtronic Limited, Philips Healthcare, ResMed Incorp., Medtronic plc limited, Masimo Corporation, Fisher & Paykel Healthcare Corporation Limited
FAQs
Respiratory care devices are segmented on the basis of device type, user type, disease and region.
High Costs, Limited Reimbursement, Regulatory Challenges, Supply Chain Disruptions, Limited Access in Developing Regions
Increasing Respiratory Disorders, Aging Population, Technological Advancements, COVID-19 Impact, Growing Awareness of Homecare
By region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period.
Key player operating in global respiratory care device market includes, AstraZeneca PLC, Ge Healthcare Pvt Lt, GlaxoSmithKline pvt lt, Medtronic Limited, Philips Healthcare, ResMed Incorp., Medtronic plc limited, Masimo Corporation, Fisher & Paykel Healthcare Corporation Limited