Global Respiratory Care Medical Devices Market Report 2022-2026: Key Players Like Koninklijke Philips, Medtronic & Fisher & Paykel Healthcare Drive 8.7% YoY Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The report “Global Respiratory Care Medical Devices Market: Analysis by Disorder, by Product Type, by End User, by Region Size and Trends with COVID-19 Impact and Forecast to 2026” has been added at from ResearchAndMarkets.com offer.
The global respiratory care medical devices market in 2021 was valued at US$20.38 billion. The market is expected to reach US$30.93 billion by 2026.
The major factors contributing to the growth of the respiratory care medical devices market are aging population, increasing incidence of chronic respiratory diseases, unhealthy lifestyles especially among the urban population, high prevalence of smoking, etc
Respiratory care devices can be used in both home care facilities and hospitals. An increase in the number of hospitals around the world has also contributed to the rise in demand for respiratory care devices. The market is expected to grow at a CAGR of 8.7% during the forecast period 2022-2026.
Market Segmentation Analysis:
By Disorder: The report provides the bifurcation of the respiratory care medical devices market into five segments based on the disorder: COPD (Chronic Obstructive Pulmonary Disease), Asthma, Obstructive Sleep Apnea, Infectious Diseases and Others. In 2021, COPD segment accounted for the peak share of around 34% in the global respiratory care medical devices market owing to the growing prevalence of smoking and environmental factors. The obstructive sleep apnea segment is further segmented into three product types: therapeutic devices, sleep apnea masks and diagnostic devices. The global obstructive sleep apnea diagnostic devices market is expected to witness significant growth during the forecast period with a CAGR of 7.3%, driven by the wide use of polysomnography (PSG) devices in hospitals and sleep labs.
By Product Type: The report provides segmentation based on product type: Therapeutic Devices, Monitoring Devices, Diagnostic Devices, and Consumables & Accessories. The therapeutic device segment held the major share of 56% of the market in 2021. The demand for humidifiers, nebulizers and oxygen concentrators has increased in recent years owing to the rise in respiratory diseases globally.
By End-Users: The report further provides the segmentation based on the end-user of respiratory care medical devices: hospitals, home care facilities, and ambulatory care centers. Home care facilities are expected to grow at the highest CAGR of 10.0% due to the growing importance of personalized healthcare services.
By Region: In the report, the global respiratory care medical devices market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America led the market in 2021 with nearly 36% global market share. The lengthening of life expectancy modifies the shape of the age pyramid of European nations, the most significant change would be a notable evolution towards a much older demographic structure, a tendency which should continue. Hence, increasing geriatric population, reduction in passive immunity, and increasing prevalence of respiratory diseases among community-dwelling elderly are all expected to drive the growth of the respiratory care medical devices market in Europe.
In the Asia-Pacific region, the market is expected to show the fastest growth with a CAGR of 9.5% during the forecast period owing to factors such as increasing prevalence of asthma among adults and children and technological advances. In addition, supportive government policies such as 100% FDI inflow into healthcare, launch of production-linked incentive scheme and launch of Make in India and Aatmanirbhar Bharat schemes are expected to positively influence the growth of India Respiratory Care Devices Market during the forecast. period.
Key Players of the Global Respiratory Care Medical Devices Market are:
Koninklijke Philips NV
Fisher & Paykel Health
Dragerwerk AG & Co. KGaA
Allied Healthcare Products Inc.
React Health, Inc.
Hamilton Medical AG
Acare Technology Ltd.
Main topics covered:
3. Global Market Analysis
4. Regional Market Analysis
5. Impact of COVID-19
6. Market dynamics
6.1 Drivers of growth
6.1.1 Rapidly growing aging population
6.1.2 High prevalence of respiratory diseases
6.1.3 Increase in health expenditure
6.1.4 Growing urbanization and level of pollution
6.1.5 High prevalence of smoking
6.1.6 Increased incidence of premature births
6.1.7 Unhealthy lifestyles
6.2.1 Lack of awareness of respiratory conditions
6.2.2 Excise tax levied on devices
6.2.3 Strict regulations and RCP licenses
6.2.4 Counterfeit medical devices
6.3 Market trends
6.3.1 Growing Demand for Point-of-Care Diagnostic Devices
6.3.2 Integration of artificial intelligence (AI) in respiratory care
6.3.3 Growing Demand for Enhanced Wearable Devices
6.3.4 Technological Advancements in Mechanical Ventilators
6.3.5 Advances in oxygen therapy
7. Competitive landscape
8. Company Profiles
For more information on this report, visit https://www.researchandmarkets.com/r/fxr66t