The global respiratory care device market was valued at $15,009.6 million in 2015, and it is expected to grow at a CAGR of 9.5% during 2016 – 2022, according to the latest research study published by P&S Intelligence, the study covers detailed analysis of component and distribution channel of respiratory care device industry.
Life cannot be lived without food, but merely eating it is not sufficient; the food must also be converted to energy. This is where respiration comes in, because it is during this process that the food is ‘burned’ in the presence of oxygen to produce adenosine triphosphate or (ATP), which is the basic unit of animal energy. Now, several factors can hamper respiration, which are broadly known as respiratory and pulmonary diseases. Due to environmental as well as genetic factors, the prevalence of such diseases, primarily lung cancer, chronic obstructive pulmonary disease (COPD), and asthma, is increasing.
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Thus, with the increasing number of people suffering from lung issues, the respiratory care device market is witnessing robust growth across the globe. Such devices help doctors ascertain what is wrong with people displaying compromised lung function and monitor their condition over long periods of time. The latter is important, so that if anything goes very wrong, doctors can intervene and save the life of their patient by taking the appropriate action.
The objective of this research includes;
North America holds the largest share in the respiratory care device market. Rising government expenditure on healthcare, high prevalence of respiratory diseases, and growing aging population are some major factors driving the growth of the market in the region. In North America, the U.S. accounts for the majority market share, primarily on account of high prevalence of tobacco smoking in the country.
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Some of the major players operating in the global respiratory care device market include ResMed Inc., General Electric Company, Hamilton Medical AG, Koninklijke Philips N.V., Masimo Corporation, and Medtronic plc.
The research includes detailed analysis of;
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