The Global Respiratory Devices Market was valued at US$ 16 billion in 2016 and is expected to grow at around 6.8% CAGR to reach nearly US$ 28 billion by 2022. Respiratory devices are instruments that provide some form of diagnostic or therapeutic services to patients in relation to their respiratory systems. Therapeutic respiratory devices range from simple hand held masks or inhalers, to sophisticated medical equipment that can completely take over the respiratory function of an individual. Examples of diagnostic respiratory devices are spirometers, peak flow meters, etc. The costs of respiratory devices may vary based on parameters like function, degree of sophistication, manufacturing materials used, and so on. Factors like growing incidence of respiratory diseases and rising awareness are driving the growth of the global respiratory devices market.
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End users of respiratory devices may be individuals with respiratory diseases or medical institutions. Individuals with medical conditions like asthma or tuberculosis use respiratory devices that can help them monitor their condition as well as treat minor incidents. Medical institutions use respiratory devices for many functions like diagnosis of diseases, control of respiration in patients under general anaesthesia, treatment of patients with impaired respiratory systems, etc.
One of the most important growth drivers of the global respiratory devices market is rapidly increasing pollution levels. Other important factors that are aiding the growth of this market are urbanisation, increase in the population of aged individuals, high prevalence of smoking, lifestyle changes, etc. Technological advancements are allowing companies to introduce better and more effective products and rise in disposable income has helped sustain the demand for such sophisticated devices. Also, rising awareness is driving more and more people to opt for medical treatment for their conditions, resulting in growth of the market. The market for respiratory devices that can totally take over the respiratory functions of an individual is also growing due to increase in the number of medical surgeries and procedures being carried out.
The market also faces some restraints in growth. Government regulations on medical products negatively affect the market. High costs of purchase and maintenance of sophisticated respiratory devices may adversely impact demand. Some respiratory devices can have negative impact on neonates and this can restrain their growth in the market. Hence, companies need to design products that meet government regulations and deliver maximum performance with minimum maintenance and side effects.
The global respiratory devices market can be segmented based on product, end user, and geography. Based on product, the market can be segmented into therapeutic devices, monitoring devices, diagnostic devices, and consumables and accessories. Based on end users, the market can be segmented into hospitals and individual users.
Geographically, the respiratory devices market can be divided into North America, Europe, Asia-Pacific (APAC), and Latin America, Middle East and Africa (LAMEA) regions. Currently North America and Europe account for the largest share of the global respiratory devices market. However, there is considerable growth potential in the emerging markets like LAMEA and APAC regions due to growing old population and increasing lifestyle changes.
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Some of the major players in the market are Philips Healthcare, ResMed, Medtronic, Masimo Corporation, and Fisher & Paykel Healthcare.
The report contains comprehensive analysis on:
Respiratory Devices Market Segments
Respiratory Devices Market Drivers, Restraints and Opportunities
Respiratory Devices Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Respiratory Devices Market Current Trends
Competition &Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Respiratory Devices Market includes
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macro-economic factors and other qualitative and quantitative insights. The impact of all such factors are delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
In-depth Market Segmentation
Historical and Projected Market Sizing in terms of volume and value
Recent market trends and Impact Factors
R&D Status and Technology Overview
Extensive Industry Structure Coverage
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