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Oct 5, 2020 10:00 AM ET

Global Therapeutic Respiratory Devices Market Is Set For Moderate Growth, To Reach Around USD 22.15 Billion by 2025

iCrowd Newswire - Oct 5, 2020

Zion Market Research has published a new report titled “Therapeutic Respiratory Devices Market by Product (Humidifiers, Inhalers, Ventilators, OSA Devices and Other Products); by End User (Homecare Settings, Hospitals and Other End Users): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for therapeutic respiratory devices market was valued at approximately USD 12.46 billion in 2018, and is expected to generate revenue of around USD 22.15 billion by end of 2025, growing at a CAGR of around 8.6% between 2019 and 2025.

Therapeutic respiratory devices are of prime importance for treating a wide range of chronic pulmonary and respiratory conditions like asthma, chronic bronchitis, chronic obstructive pulmonary disease (COPD), sleep disorders etc. Therapeutic respiratory devices improve pulmonary function by assisting in airway clearance. A large number of respiratory devices are available which include emergency respiratory devices for rescue application, long-term respiratory devices for intensive care, and mobile home respiratory devices.

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The global therapeutic respiratory devices market growth is fueled by various factors such as growing incidence rate of various pulmonary and respiratory disorders like chronic obstructive pulmonary disease (COPD), cystic fibrosis, asthma etc. along with worldwide increase in elderly population. However, growing cost burden of respiratory diseases and lack of treatment adherence by patients may hinder the market growth in the coming years. Technological advancements for device miniaturization and improving device efficiency and emerging markets are factors projected to open growth opportunities for market players in the global therapeutic respiratory devices.

Therapeutic respiratory devices market is segmented based on end user, product and region. Based on product, market is bifurcated into inhalers, humidifiers, obstructive sleep apnea (OSA) devices, ventilators and other products. Obstructive sleep apnea (OSA) devices segment held major revenue share of almost two third of overall market in 2018. This large share is attributed to increasing prevalence of insomnia, snoring, sleep apnea, etc. like sleep disorders. OSA devices segment is anticipated to retain its dominance in the coming years. OSA devices segment is sub categorized into PAP devices, oxygen concentrators and adaptive servo-ventilators. On the other hand ventilators will register fastest growth over the forecast period owing to various factors such as growing elderly population, preterm births, increasing number of surgeries, and respiratory diseases. Inhalers segment is sub categorized into nebulizers, dry powder inhalers (DPIs) and metered dose inhalers (MDIs). Humidifiers are sub categorized into built-in humidifiers, standalone humidifiers, integrated humidifiers, heated humidifiers and passover humidifiers.

Homecare settings, hospitals and others are end users of the therapeutic respiratory devices market. Hospitals were the largest end user segment due to easy accessibility to hospitals, availability of advanced health facilities, skilled professionals, medical devices and equipment and growing number of patients. Fastest growth is projected for homecare settings over the forecast period due to growing number of elderly population across the globe requiring at home health care services.

At regional level, North America dominated the global therapeutic respiratory devices market in 2018. Growing respiratory disease prevalence, growing elderly population, environmental factors such as increasing pollution levels, smoking etc. are factors projected to boost the market growth in North America. Europe was second largest regional market. Presence of developed infrastructure, growing health awareness and increasing incidence rate of respiratory diseases are prominent factors that fuel market growth in Europe. Latin America is projected to see modest growth during the forecast period. Asia Pacific region is anticipated to register fastest growth for therapeutic respiratory devices in the coming years. This rapid growth is attributed to growing aging population, growing demand for easy to use and portable home therapeutic respiratory devices for elderly care, changing environmental conditions, and smoking etc. Middle East and Africa is projected see considerable growth in coming years.

Major players included in the report are Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Smiths Medical, Medtronic, Teleflex Incorporated, Koninklijke Philips N.V., ResMed, Inogen, Invacare Corporation, Hamilton Medical, Hill-Rom, Fisher & Paykel Healthcare Limited, GE Healthcare, Becton, Dickinson and Company, Compumedics Limited, AirSep Corporation and Breas Medical among others.

The report segment of global therapeutic respiratory devices market as follows:

Global Therapeutic Respiratory Devices Market: By Product

Global Therapeutic Respiratory Devices MarketBy End User

Global Therapeutic Respiratory Devices Market: By Region

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Keywords:    Therapeutic Respiratory Devices Market

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