Share
Respiratory Care Device Market : Segmented by Product (Therapeutic devices, Monitoring devices, Diagnostic devices, Consumables and accessories); by End-User (Hospitals, Home care settings, Ambulatory care centers and Others) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report Respiratory Care Device Market to surpass USD 60.29 billion by 2030 from USD 22.34 billion in 2020 at a CAGR of 10.44% in the coming years, i.e., 2021-30.
Medical equipment used for the diagnosis, management, care, control, treatment, and assessment of patients with cardiopulmonary disorders is referred to as a respiratory care device. These are used to treat degenerative lung disorders such as asthma, emphysema, chronic bronchitis, and other chronic and acute respiratory illnesses. Furthermore, monitoring equipment is critical for keeping track of the health of individuals with respiratory diseases. The World Health Organization (WHO) estimates that 235 million people will suffer from asthma by 2020. This denotes the necessity for asthmatic patients to get respiratory treatment.
Global Respiratory Care Device market is expected to project a notable CAGR of 10.44% in 2030.
The global pandemic of coronavirus has resulted in an unexpected increase in demand for respiratory care devices. Apart from that the high prevalence of respiratory illnesses, the global aging population, the high prevalence of smoking, rising urbanization and pollution levels, the rising incidence of preterm births, and lifestyle changes are all contributing to the market's rise.
Recent highlights in the Global Respiratory Care Device Market
Inhaler segment to grow with the highest CAGR during 2020-30
Global Respiratory Care Device market is segmented by Therapeutic devices into PAP Devices, Ventilators, Nebulizers, Humidifiers, Oxygen Concentrators, Inhalers, Reusable Resuscitators, Nitric Oxide Delivery Units, Oxygen Hoods. The therapeutic devices segment of the respiratory care devices market accounted for the biggest proportion of the market in 2020. Inhalers are commonly used to treat severe respiratory illnesses. Metered-dose inhalers (MDIs) and dry-powder inhalers are the two types (DPIs). The rising prevalence of asthma is a major driver driving the global inhalers market forward throughout the predicted period.
Cardiology and Vascular segment to grow with the highest CAGR during 2020-30
Global Respiratory Care Device market is segmented by Monitoring Devices into Pulse Oximeters, Capnography, and Gas Analyzers. These Throughout the forecast period, the pulse oximetry market is predicted to grow at a stable rate. In comparison to other respiratory care devices, smart pulse oximeters have grown in popularity in recent years. It has become a critical tool for physicians in the continuous monitoring of a patient's arterial oxygen saturation (SaO2) by computing an estimate of the SaO2 (also known as the SpO2) and presenting the output. Several firms have concentrated their efforts on creating low-cost pulse oximeters to compete in the growing and price-competitive industries. Acute care and alternative care settings, such as long-term care institutions, homecare, and sleep labs, benefit from the product's sophisticated capabilities, which include handheld and bedside monitoring. The respiratory care monitoring devices market is likely to be driven by such advances in this area.
Outbreak of infectious diseases
Demand for respiratory treatment is directly driven by infectious respiratory illnesses. The most recent and serious of these illnesses is COVID-19, which has led in a rise in demand for personal protective equipment and ventilators, among other things. Because of the COVID-19 epidemic, there has been an increase in demand for ventilators, prompting government and industry assistance to speed up production. As a consequence of the increased focus on respiratory treatment in the context of an outbreak, the market is projected to grow at a strong rate.
Rise in Global Geriatric Population
In recent years, the global elderly population has grown at an unprecedented rate. Lung function declines with age, and the frequency of respiratory illnesses such as chronic obstructive pulmonary disease (COPD) and asthma rises. With increasing age, the respiratory system experiences numerous anatomical, physiological, and immunological changes. The structural alterations, which include deformities in the chest wall and thoracic spine, impede the respiratory system's function and cause breathing difficulties. The worldwide respiratory care monitoring devices market is projected to grow in the near future as the frequency of respiratory illnesses rises.
Unfavorable reimbursement scenario
Many people rely on reimbursements to pay for their medical care. The diagnostic business as a whole, and respiratory care diagnostic, in particular, are currently confronted with a shortage of reimbursements for different diagnostic tests. Reimbursement regulations vary across Europe and are only accessible in a few countries for PAP devices and oral appliances (devices that are not covered by insurance have a low market share in the region). In addition, the majority of Asian and RoW nations have minimal reimbursement coverage for respiratory care devices.
Koninklijke Philips N.V.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Respiratory Care Device market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. In 2020, the respiratory care devices market in North America was the largest, followed by Europe and Asia Pacific. Due to the presence of a large pool of respiratory patients, rising healthcare expenditure, rapidly developing healthcare infrastructure, rising per capita income, growing middle-class population, and growing prevalence of tobacco smoking in this region, the Asia Pacific market is expected to grow at the fastest CAGR during the forecast period.
Global Respiratory Care Device is further segmented by region into:
Respiratory Care Device Segments:
By Product
| Report Attribute | Details |
| Market size value in 2021 | USD 24.66 billion |
| Revenue forecast in 2030 | USD 60.29 billion |
| Growth Rate | CAGR of 10.44% from 2021 to 2030 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD billion and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product, End-User, and Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA) |
| Key companies profiled | Koninklijke Philips N.V., ResMed, Medtronic, Fisher and Paykel Healthcare Limited, BD (U.S.), Chart Industries, Inc., Drägerwerk AG & Co. KGaA, Hamilton Medical, Teleflex Incorporated, 3M and Other Prominent Players. |
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
