A recent report published by Infinium Global Research on respiratory devices market provides in depth analysis of segments and sub-segments in global as well as regional respiratory devices market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional respiratory devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global respiratory devices market. According to report the global respiratory devices market is projected to grow at a CAGR of 6.1% over the forecast period of 2018-2024.
Inhaling devices used to treat a variety of respiratory ailments are known as respiratory devices. Respiratory devices help patient to breathe more effectively. Obstructions and injury are common situations in which breathing assistance is necessary. Patients suffering from group of diseases that affect the lungs such as emphysema, bronchitis, and asthma need the respiratory device for their breathing problems.
Growing occurrence of chronic respiratory diseases such as asthma, pulmonary hypertension, chronic pulmonary lung disease, and occupational lung disease are the key causes boosting growth of the respiratory devices market, due to the need of therapeutic respiratory devices in the hospitals and in the homecare settings. In 2018, the World Health Organization (WHO) reported that asthma is a major non-communicable disease with an estimated 235 million people suffering from the condition. Moreover, aging is related with weakening of lung functioning and rise in prevalence of respiratory diseases such as chronic obstructive pulmonary disease and asthma. As an individual grow old, the respiratory system go through numerous physiological, anatomical, and immunological changes. Thus, the demand for respiratory device is increase in the coming years, due to rise in occurrence of respiratory diseases in geriatric population. In addition, the technology advancement and development of innovative device will reduce the discomfort of the patient, without increasing any complications. On the other hand, the high costs of the devices are likely to hamper the growth of the market.
North America is expected to be the largest market for respiratory devices followed by Asia-Pacific. The demand for advance technology and suspicious compensation policies for respiratory care and rise in demand for advanced devices for home care use. Furthermore, growth in amount of tobacco smokers and increase in air pollution are likely to increase occurrence of respiratory disease, thus driving the growth of the market in the region. The U.K. and Germany are the largest revenue generating countries in this region. The growth in Asia Pacific is mainly, due to increase in awareness about respiratory diseases and improving health care infrastructure in this region.
The report on global respiratory devices market covers segments such as, product. On the basis of product the global respiratory devices market is categorized into mechanical ventilators, oxygen concentrators, positive airway pressure devices, humidifiers and nebulizers.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global respiratory devices market such as, Philips Respironics, ResMed Inc., GE Healthcare Ltd, Hamilton Medical AG, Smiths Medical, Teleflex Inc., Drager Medical GmbH, Hamilton Medical AG, Briggs Healthcare Inc. and Others.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global respiratory devices market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of respiratory devices market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the respiratory devices market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the respiratory devices market to understand the present and future trends in this market and formulate their strategies accordingly.
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