Respiratory Care Devices Market To Reach USD 37.04 Billion By 2027 | Reports and Data

The rise in the incidence of respiratory disorders, adaptation to new technological advances, new product launches, and strategic collaboration, rise in the patient pool are key factors contributing to the high CAGR of the Respiratory Care Devices market during the forecast period.

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New York, April 02, 2020 (GLOBE NEWSWIRE) -- According to the current analysis of Reports and Data, the global Respiratory Care Devices Market valued at USD 18.41 Billion in 2019 and is expected to reach USD 37.04 billion by the year 2027, at a CAGR of 9.0%. Respiratory care devices are increasingly used in the treatment, monitoring, and diagnosis of respiratory disorders. These devices are given to the patients to improve the treatment process.

The rise in lifestyle habits like smoking, consumption of alcohol, and an increase in the geriatric population is a significant factor boosting the market. Technological advances for new devices, regulatory approvals, product launches are further promoting market growth. The prevalence of air pollution, climate changes, dust, are also fueling the market growth. The rising prevalence of Respiratory diseases is snowballing all over the world. In 2017, according to the WHO, Respiratory diseases were considered to be the leading causes of death and disability in the world. Nearly 65 million people suffer from chronic obstructive pulmonary disease (COPD), and 3 million are expected to die from it each year, making it the third leading cause of death across the world. Moreover, approximately 334 million people suffer from asthma, the most common chronic disease of childhood, affecting 14% of all children globally.

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The COVID-19 Impact: As the spread of Coronavirus (COVID-19) persists throughout the global community, the key market players are supporting the health systems and healthcare professionals actively. For instance, Phillips is providing solutions including invasive and non-invasive ventilation ranging from mid- to high-acuity, oxygen therapy, CPAP therapy, nebulizers, patient monitoring, medical consumable, and others. Moreover, the limited supply of ventilators is one of the chief concerns faced by hospitals and other healthcare facilities. To overcome the situation, In the U.S., emergency plans have been developed by states for a shortage of ventilators include using positive airway pressure machines. It is used to sleep apnea which would help hospitalized people with less severe breathing issues. Furthermore, as cities and hospitals across the globe are overrun with coronavirus patients, the acute shortage of medical equipment such as ventilators is known to be the biggest problem for the hospital. According to the World Health Organization (WHO), nearly 80% of the patient suffering from the disease caused by Covid-19 recover without needing hospitalization. But one out of six-person becomes seriously ill and can develop breathing difficulties. According to Johns Hopkins University in March 2020, the demand for ventilator demand can be as high as 1 million in the country. Considering the scenario in March 2020, availability in India is estimated to have between 30,000 and 50,000 ventilators, and U.S. U.S. has about 160,000 and is running short in most places. As the government, researchers navigate the solution for the global pandemic COVID- 19 outbreak, the demand for respiratory care devices will be inelastic.

Additionally, with proper preventive and improving the quality of air, most respiratory diseases are preventable. Common sources of unhealthy air are tobacco smoke, indoor and outdoor air pollution, and air containing microbes, toxic particles, fumes, or allergens are contributing factors to the rising demand of the respiratory care devices market. According to the WHO, At least 2 billion people are exposed to indoor toxic smoke, 1 billion inhale outdoor pollutant air, and 1 billion are exposed to tobacco smoke. The rising geriatric population is a major cause of driving the market in countries like China and India. According to the World Health Organization (WHO), more than 2 billion population will be aged 60 and older by 2050. The increasing patient pool and adoption of an unhealthy lifestyle, including smoking and consumption of alcohol in the developed economy, is likely to boost the market in the near future. However, the lack of awareness among the public about devices, some of the harmful effects of respiratory devices on neonates, and inefficient reimbursement are the factors hindering the market growth.

Further key findings from the report suggest

  • In the year 2018, Convexity Scientificlaunched its Flyp nebulizer for COPD and asthma patients it is a held handheld, the pocket-sized device was approved by the FDA in the year 2017. Convexity's nebulizer comprises an internal vibrating disk that produces an inhaled aerosol mist to deliver medication deep into patients' lungs.
  • CAIRE, in the year 2019, launched FreeStyle, it is a portable oxygen concentrator. It is being designed to deliver oxygen bolus as the user's respiratory rate. FreeStyle Comfort is designed to be comfortable for wear due to its unique ergonomic design. It has also met FAA guidelines for use on commercial air flights and also offers wireless connectivity.
  • Masimo, in the year 2017, received an FDA 510(k) clearance for Rad-97 pulse co-oximeter and had launched it in the US. Rad-97 consists of a multi-touch display, a small footprint, and easy configuration; it also comprises of WiFi and supported Bluetooth wireless connections to related compatible devices like thermometers, glucometers, and weight scales.
  • Medtronic in the year 2019, announced the complete acquisition with Klue. Klue's technology is expected include the Medtronic Personalized Closed Loop (PCL) insulin pump system. Klue's has a unique early meal detection technology that can help in transforming diabetes care; this is expected to be a huge opportunity for Medtronic in diabetes care.
  • The key players in the respiratory care devices market are Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Chart Industries (US), Drager AG (Germany), Invacare Corporation (US), Getinge AB (Sweden), Air Liquide (France), Hamilton Medical AG (Switzerland), Vyaire Medical (US), GE Healthcare (US), Nonin Medical Inc. (US), Apex Medical Corp. (Taiwan), Smiths Group (UK), Omron Healthcare Inc. (US), Allied Healthcare Products, Inc. (US), Teleflex Incorporated (US), DeVilbiss Healthcare LLC (US), Convexity Scientific (US), CAIRE (US), Oventus Medical's (Australia)

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For the purpose of this purpose, Reports and Data have segmented the Respiratory Care Devices market on the basis of products, indications, end use, and region

Products Outlook (Revenue in Million USD; 2017–2027)

  • Therapeutic Devices
    • PAP Devices
      • Continuous Positive Airway Pressure (CPAP) Devices
      • Automatic PAP (APAP) Device
      • Bi-Level PAP (BPAP) Devices
    • Ventilators
      • ICU Ventilators
      • High-end ICU Ventilators
      • Mid-end ICU ventilators
      • Basic ICU Ventilators
      • Portable/Transportable Ventilators
    • Nebulizers
    • Humidifiers
      • Heated Humidifiers
      • Passover Humidifiers
    • Oxygen Concentrators
      • Fixed Oxygen Concentrators
      • Portable Oxygen Concentrators
    • Inhalers
      • Metered Dose Inhalers (MDIs)
      • Dry Powder Inhalers (DPIs)
    • Reusable Resuscitators
      • Adult Resuscitators
      • Infant/Neonatal Resuscitators
    • Nitric Oxide Delivery Units
    • Oxygen Hoods
  • Monitoring Devices
    • Pulse Oximeters
      • Pulse oximeter sensors
      • Pulse Oximeter equipment
    • Capnographs
    • Gas Analyzers
  • Diagnostic Devices
    • Spirometers
    • Polysomnography Devices
    • Peak Flow Meters
    • Other Diagnostic Devices
  • Consumables and Accessories
    • Masks
      • Reusable Masks
      • Nasal Masks
      • Full-face Masks
      • Nasal pillow masks
      • Oral Masks
      • Disposable Masks
    • Disposable Resuscitators
    • Breathing Circuits
    • Tracheostomy Tubes
    • Nasal Cannulas
    • Others

Indications Outlook (Revenue in Million USD; 2017–2027)

  • Chronic Obstructive Pulmonary Disease (COPD)
  • Asthma
  • Sleep Apnea
  • Infectious Disease
  • Lung Cancer
  • Tuberculosis
  • Idiopathic Pulmonary Fibrosis

End Use Outlook (Revenue in Million USD; 2017–2027)

  • Hospitals
  • Home Care Settings
  • Ambulatory Care Centers

Regional Outlook (Revenue in Million USD; 2017–2027)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Spain
    • Italy
    • Rest of the Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Middle East & Africa
  • Latin America
    • Brazil

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