Respiratory Care Devices Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis

Respiratory Care Devices Market, Size, Global Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Company Analysis

Global Respiratory Care Devices Market is expected to reach US$ 36.96 Billion by 2027. In medical device field, respiratory care sector have a significant role. It is the branch of medical device which is focused on the treatment, control, diagnostic evaluation, management, and care of patients with abnormalities in the cardiopulmonary system. These devices are utilized to treat and diagnose respiratory diseases such as asthma, tuberculosis, chronic obstructive pulmonary disease (COPD), and pneumonia. Thus the demand for respiratory care devices will keep on growing. For instance, in 2021, as per WHO (World Health Organization), asthma affected an estimated 262 million people and caused 461000 deaths.

Nevertheless, the development of the global respiratory devices market is majorly driven by the increased prevalence of respiratory diseases, growing aging population across the globe, rising prevalence of smoking, high pollution and urbanization, increasing incidence of preterm births, and lifestyle changes. According to Renub Research Report, Worldwide Respiratory Care Devices Market Size was US$ 22.35 Billion.

How Coronavirus benefited the Respiratory Care Devices

Furthermore, COVID-19 is the most current and significant of these diseases; the pandemic has resulted in a surge in demand for respiratory care equipment like Nebulizers, Pulse Oximeters, and ventilators, among others. The need for ventilators has also risen due to the COVID-19 pandemic, resulting in governmental and industrial support for propelling the pace of manufacturing. It expresses the emphasis on respiratory care in the background of a pandemic; the respiratory care devices market has shown healthy growth.

Global Respiratory Care Devices Market is expected to expand at a CAGR of 8.7% from 2021-2027

Based on product type, the global respiratory care devices industry is segmented into monitoring devices, therapeutic devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment has accounted for a significant share of the global respiratory care devices industry. It is primarily accredited to the growing adoption of several therapeutic devices such as PAP devices, humidifiers, nebulizers, and oxygen concentrators.

On the other hand, positive airway pressure (PAP) is in vast demand by product segment due to growing obstructive sleep apnea cases. The most standard treatment for sleep apnea is (PAP) positive airway pressure therapy. A positive airway pressure device is usually about a shoebox's size while being smaller. A flexible tube joins the machine with a mask or other interface appliance worn over the nose and mouth.

In terms of end-user, the respiratory care devices market is bifurcated into hospitals, physician clinics, clinical laboratories, and others. Hospitals' respiratory care device market was significant compared to physician clinics, clinical laboratories, and others. Their financial capabilities, which allow hospitals to purchase expensive instruments, and the availability of qualified professionals to operate these instruments, have ensured the high percentage of hospitals in this market.

North America holds the Largest Respiratory Care Devices Market

Worldwide, North America held the largest respiratory care devices market. This is primarily attributed to the rising plurality of respiratory diseases like Chronic Obstructive Pulmonary Disease (COPD). As per CDC (Centers for Diseases Control and Prevention), chronic obstructive pulmonary disease is the fourth most cause of death in the US. COPD affects 15 million American and more than 150,000 Americans die of COPD each year.

Furthermore, the Asia-Pacific region showcases massive growth due to a large pool of respiratory patients, air pollution, and the growing prevalence of tobacco smoking. Also, APAC is evolving into a medical tourism hub and is regarded as one of the fastest-growing markets for medical devices. Low infrastructure and treatment expenses and the availability of highly educated physicians have driven medical tourists to APAC countries, particularly Thailand and India.

Prominent market players are Philips, ResMed, Drägerwerk AG & Co. KGaA, Invacare Revenue, Becton Dickinson, Medtronic plc revenue, Masimo Corporation, Allied Healthcare Inc, Teleflex Incorporated, Johnson & Johnson.

Renub Research report titled “Respiratory Care Devices Market, Global Forecast by Product Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables & Accessories), Product (PAP Devices, Ventilators, Nebulizers, Humidifiers, Medical Oxygen Concentrators, Pulse Oximeters, Capnographs, Medical Gas Analyzers, Spirometers, Polysomnography Devices, Peak Flow Meter, Breathing Circuits, Tracheostomy Tube, Others), Application (COPD, Asthma, Sleep Apnea, Infectious Disease, Lung Cancer), End Users (Hospital, Physician Clinic, Clinical Laboratories Others), Regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Company Analysis (Philips, ResMed, Drägerwerk AG & Co. KGaA, Invacare Revenue, Becton Dickinson, Medtronic plc revenue, Masimo Corporation, Allied Healthcare Inc, Teleflex Incorporated, Johnson & Johnson)” Provides a detailed analysis of Global Respiratory Care Devices Market.

Product Types - Market has been covered from 4 viewpoints

1. Therapeutic Devices
2. Monitoring Devices
3. Diagnostic Devices
4. Consumables & Accessories

Products - Market has been covered from 14 viewpoints

1. PAP Devices
2. Ventilators
3. Nebulizers
4. Humidifiers
5. Medical Oxygen Concentrators
6. Pulse Oximeters
7. Capnographs
8. Medical Gas Analyzers
9. Spirometers
10. Polysomnography Devices
11. Peak Flow Meter
12. Breathing Circuits
13. Tracheostomy Tube
14. Others

Application - Market has been covered from 5 viewpoints

1. COPD
2. Asthma
3. Sleep Apnea
4. Infectious Disease
5. Lung Cancer

End Users - Market has been covered from 4 viewpoints

1. Hospital
2. Physician Clinic
3. Clinical Laboratories
4. Others

Regions - Market has been covered from 5 viewpoints

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa

All the companies have been studied from 3 points

• Business Overview
• Recent Developments
• Sales Analysis

Company Analysis

1. Philips
2. ResMed
3. Drägerwerk AG & Co. KGaA
4. Invacare Revenue
5. Becton Dickinson
6. Medtronic plc revenue
7. Masimo Corporation
8. Allied Healthcare Inc
9. Teleflex Incorporated
10. Johnson & Johnson