Global Respiratory Care Devices Market to Grow at High CAGR to Reach 23,510.9 Million USD By 2026
Dec 16, 2019
A new market study, titled “Respiratory Care Devices Global Market - Forecast to 2026”, has been featured on WiseGuyReports.
Pune, India - December 16, 2019 /MarketersMedia/ —
Respiratory Care Devices Market
Respiratory diseases such as asthma, chronic obstructive pulmonary diseases (COPD), sleep apnea and others are increasing due to tobacco smoking, second-hand smoking, vehicular smoke emissions, urbanization, industrializations and changing lifestyle. To control these conditions the usage of respiratory devices is rising. The Respiratory care device is one of the parts of medical device which is used for diagnosis, treatment and monitoring purpose. The respiratory care device global market is segmented based on the products, applications, end-users, and geography. Globally respiratory care devices market is showing rapid growth and also in coming years continuing to evolve in the field of research, development, and manufacturing due to its wide range of driving factors such as the increase in the incidence of respiratory diseases, rising use of non-invasive respiratory care devices and growing demand for homecare respiratory devices.
According to IQ4I analysis, the respiratory care devices global market is expected to grow at high single digit CAGR from 2019 to 2026 to reach $23,510.9 million by 2026. Respiratory care devices products market is segmented as diagnostic, therapeutic, monitoring devices, and consumables. The therapeutic devices market commanded the largest share in 2019, and the market is expected to grow at a strong single digit CAGR from 2019 to 2026.
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The therapeutic devices product market is segmented into humidifiers, nebulizers, oxygen concentrators, PAP devices, resuscitators, ventilators, inhalers and others. According to IQ4I analysis, among therapeutic devices segment, ventilators commanded the largest revenue in 2019, the market is expected to grow at a mid-single digit CAGR from 2019 to 2026. The PAP devices are expected to grow at a strong double digit CAGR from 2019 to 2026. The monitoring devices market is expected to grow at a mid-single digit CAGR from 2019 to 2026. The monitoring devices are segmented into pulse oximeter, capnographs and gas analyzers. The pulse oximeters commanded the largest revenue in 2019 and the capnographs are expected to grow at a strong single digit CAGR from 2019 to 2026. The diagnostic devices are expected to grow at a mid-single digit CAGR from 2019 to 2026. The diagnostic devices are segmented into spirometers, peak flow meters and polysomnography, among these, spirometers commanded the largest share in 2019, peak flow meters are expected to grow at a single digit CAGR from 2019 to 2026. The consumables market is expected to grow at a single digit CAGR from 2019 to 2026. The consumables are segmented based on product into masks, nasal cannula, tracheostomy devices and others. Mask commanded the largest revenue is expected to grow at a high single digit CAGR from 2019 to 2026.
The respiratory care devices market based on application is segmented into obstructive, restrictive, vascular, infectious and other respiratory conditions. Among applications, obstructive respiratory conditions commanded the largest revenue in 2019. The market is expected to grow at a high single digit CAGR from 2019 to 2026. The obstructive respiratory conditions are further segmented into COPD (chronic bronchitis and emphysema), asthma, cystic fibrosis, and obstructive sleep apnea, the COPD commanded the largest share of the market in 2019 and is expected to grow at a high single digit CAGR from 2019 to 2026.
The end-users market is segmented into hospitals, home care and ambulatory surgical centers, among them, hospital care settings commanded the largest revenue in 2019. Globally, admission to emergency care is increasing due to respiratory disorder burdens and majorly respiratory therapists are treating a greater number of patients in these care settings. The Homecare setting is expected to grow at a strong single digit CAGR from 2019 to 2026. Respiratory home healthcare has opened new opportunities for the respiratory care devices market. The convenient and comfort at homecare environment, cost of the devices, rental respiratory devices, oxygen resupply systems and other factors shifting the hospital care environment to homecare environment. The hospital end-user segment is further sub-segmented based on care settings into emergency care, critical care/ICU, acute care, sleep center and others. The critical care segment commanded the largest revenue in 2019. The sleep centers are expected to grow at strong single digit CAGR from 2019 to 2026.
The geographic market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Among these, North America commanded the largest revenue in 2019. The market is expected to grow at a high single digit CAGR from 2019 to 2026 due to advancements in technology, demand for a respiratory disorder, healthcare expenditures by government reforms, and availability of skilled labors. Asia-Pacific is expected to grow at a strong double digit CAGR from 2019 to 2026. Asia-Pacific tends to be fastest-growing segment due to increase in investments in the healthcare sector and emerging economies which creates new opportunities. The other factors influencing are incorporating new technologies, growing health awareness, expansion in healthcare industry, fast economic growth, increasing aging populations, High prevalence of tobacco smoking, Increasing medical expenditure, and health awareness improvements.
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