Respiratory devices are utilized for monitoring, diagnosis as well as treating respiratory diseases, for example, pneumonia, tuberculosis, asthma and chronic obstructive pulmonary disease (COPD). It offers improved care to the patients going through such chronic and acute respiratory diseases.
Aspects, For example, rising healthcare costs, a surge in the aging population, firm increase in per capita earnings, encouraging settlement coverage along with a range of awareness programmes regarding COPD are accountable for the development of the worldwide market for respiratory devices.
The worldwide market for respiratory devices is projected to account for approximately US$ 34 Billion during the conjecture time frame of 2017-2027, up from around US$ 13 Billion in 2016, exhibiting a 9.2% CAGR throughout the assessment period.
Based on the product type, the overall market is categorized into respiratory consumables (includes nasal cannulas, oxygen tubing sets, respiratory mask and breathing filters), nebulizers (includes ultrasonic nebulizers and compressed jet nebulizers), positive airway pressure (PAP) devices, oxygen concentrators (includes portable oxygen concentrators and home oxygen concentrators),polysomnography devices (includes clinical PSG devices and ambulatory PSG devices), spirometers , mechanical ventilators and pulse oximeters.
The overall market based on the end user is divided into long-term care centers, clinics, ambulatory surgical centers, hospitals and others.
The overall market is studied across seven prominent regions, namely Eastern Europe, Western Europe, Latin America, North America, Middle East and Africa, Japan and APEJ. North America is anticipated to dominate the overall market, by capturing 40% of the market value shares in 2017, to account for a valuation of over US$ 13 Billion through the end of the projection period, up from around US$ 6 Billion by 2017. The region is anticipated to exhibit a robust 8.8% CAGR over the decade 2017-2027. The APEJ region is projected to gain around 16% of the overall market share in 2017 and the Western European region is likely to gain around 20% of the overall market share through 2017. Both the regions, however, when combined will not be able to take over North America in the overall market. Though, the APEJ region is considered to exhibit the maximum CAGR of 10.2% in the overall market for respiratory devices, subsequently Western Europe at 9.7% CAGR in the calculated period. The respiratory devices markets in MEA, Japan, Eastern Europe and Latin America are anticipated to hold insufficient value shares in the worldwide market for respiratory devices during 2017-2027, on the other hand, in CAGR terms these four markets are expected to witness a growth over 8% throughout the decade 2017-2027.
Key Market Players: Inogen Inc., Invacare Corporation, Precision Medical
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