Respiratory Therapeutic Devices Market Size, Share, Growth at 10.8% CAGR With Worldwide Industry Analysis To 2024
Jul 3, 2019
Respiratory Therapeutic Devices Market is a professional and comprehensive study by Market Research Future on the Global Respiratory Therapeutic Devices Industry. The report monitors the key trends, treatments and market drivers in the current scenario and offers on-the-ground insights.
Pune, Maharashtra - July 3, 2019 /MarketersMedia/ —
Respiratory Therapeutic Devices are used in the treatment, management and control of cardiopulmonary diseases such as chronic obstructive pulmonary diseases (COPD), asthma, acute bronchitis, cystic fibrosis, and others. Increasing prevalence of asthma drives the market along with increasing per capita healthcare expenditure.
According to the World Health Organization in 2017, approximately 235 million people have asthma. Moreover, it was estimated that in 2015, the diseases killed approximately 383 million patients around the globe. However, the market growth during the forecast period is likely to hamper due to low per capita income in the developing economies and lack of awareness.
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The market growth is attributed to increasing number of chronic obstructive pulmonary diseases patients. According to the World Health Organization till 2020 chronic obstructive pulmonary diseases will be the fifth leading cause for death. Moreover, the growth of respiratory therapeutic devices is increase in the number of chronic and acute respiratory disease.
Beside this changing lifestyle and increasing pollution are the other factors responsible for causing the various respiratory diseases. Beside this increasing aging population and adoption of different therapeutic devices like oxygen concentrator, PAP devices, nebulizer and many other devices will fuel the therapeutic respiratory devices market. On the other hand, lack of awareness of respiratory conditions are the major restraint for the market.
Respiratory Therapeutic Devices Market - Key Players
• Masimo. (U.S.)
• BD. (U.S.)
• Smith’s Group Plc. (U.S.)
• F. Hoffmann-La Roche Ltd (Europe)
• Bayer AG (Europe)
• Rotech Healthcare Inc. (U.S.)
• Chart Industries (U.S.)
• Acare Technology (Asia Pacific)
Industry Updates:
In February 2019,
Nuvaira, a US-based medical device company raised funds worth USD 79 Mn to develop its lung denervation system for the treatment of COPD (chronic obstructive pulmonary disease) and asthma. The financing is a collaboration by companies such as US Venture Partners, Endeavour Vision, Lightstone Ventures, Richard King Mellon Foundation, and Qiming Venture Partners.
In October 2018,
Convexity Scientific, a medical technology company which designs and develops medical devices, announced an agreement with Capsule, a company rebuilding the pharmacy industry to make Convexity’s Flyp Nebulizer available to healthcare provider in the New York city area. Flyp Nebulizer is a respiratory therapeutic device designed to simplify self-care for patients with COPD and asthma.
Respiratory Therapeutic Devices Market - Segmentation
The Global Respiratory Therapeutic Devices Market has been segmented based on product, technology, application, and end user.
By product, the Global Respiratory Therapeutic Devices Market has been segmented into nebulizers, capnography, humidifiers oxygen concentrators, and others. The nebulizers segment has been further segmented into soft mist inhaler, human-powered nebulizer, and others. The capnography segment has been further segmented into main-stream capnography, side-stream capnography, and others.
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By technology, the Global Respiratory Therapeutic Devices Market has been segmented into electrostatic filtration, HEPA filtration, hollow fiber filtration, microsphere separation, and others.
By application, the Global Respiratory Therapeutic Devices Market has been segmented into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and others.
By end user, the Respiratory Therapeutic Devices Market has been segmented into hospitals & clinics, retail pharmacies, home care, and others.
Respiratory Therapeutic Devices Market - Regional Analysis
The Americas dominate the global respiratory therapeutic devices market owing to a huge patient population having cardiopulmonary diseases and well-developed healthcare sector. Moreover, the concentration of the global players like Masimo, BD., Smiths Group plc, besides others along with the increasing healthcare expenditure fuels the regional market growth during the forecast period. In 2015, according to the Centers for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion.
Europe is the second largest respiratory therapeutic devices market owing to a well-developed healthcare infrastructure, government support for research & development, and huge patient population. In 2017, according to a study published in the Asthma Research and Practice Journal, the total estimated cost per year for all the asthmatics per patient is about USD 1,900.
Asia Pacific is the fastest growing market due to the presence of a huge patient population, continuously developing economies like India and China, and the presence of huge opportunities in the market. Moreover, favorable government policies and increasing healthcare expenditure fuel the market within the region.
On the other hand, the Middle East & Africa holds the least share of the Global Respiratory Therapeutic Devices Market due to the presence of poor economy, especially, within the African region. Majority of the market of this region is held by the Middle East due to the huge healthcare expenditure.
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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