Respiratory Devices Market, By Product Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables & Accessories), By Disease (Asthma, Chronic Obstructive Pulmonary Diseases, Sleep Apnea, Others), By End-Use (Hospital, Home Care, Ambulatory Care, Others) - Global Industry Insights, Trends and Forecast, 2017-2025

Created On: Jun-2018
Report ID: IR81
Format: PDF

Respiratory Devices Market: Introduction

Demand for respiratory devices has gained traction on account of rising incidences of chronic pulmonary and respiratory diseases such as lung cancer, emphysema, chronic bronchitis, and sleep apnea among others. Respiratory diseases aid in the treatment, management, diagnosis, and control of the abnormality in the cardiopulmonary system in patients.

Market Dynamics

Rising incidences of lung cancer are one of the key factors augmenting the growth of respiratory devices market size at present. According to the American Cancer Society, approximately 234,030 cases of lung cancer were reported in 2018 and approximately 154,050 cases of deaths were reported due to lung cancer in the U.S. in the same year. Further, according to Insights and Reports, more than 9% of the population in the U.S. suffered from asthma in 2017. In 2016, more than 10% population in the U.S. suffered from asthma in the country fell in the age group of 5-14 years. Tobacco smoking is another major cause of lung cancer, which in turn have the capability to the inception of several respiratory diseases. According to Insights and Reports, more than 6.0 trillion cigarettes were smoked across the globe, in which China is the leading country with a share of more than 40% in terms of smoking. Moreover, the steady growth of the geriatric population across the globe is another key factor pushing the market growth of respiratory devices at present. However, the growth of the market is held back by low-cost respiratory devices produced by the local manufacturers.

Product Insights

Therapeutic respiratory devices market size is expected to grow significantly over the forecast period, owing to the rising technological advances such as lightweight, portability, high efficiency, etc. which may boost the product demand in the global respiratory devices market share. For instance, Philips provides robust and advanced SideStream Nebulizers with an innovative design, which facilitates faster drug delivery and also takes a shorter time during treatment. The company also offers various nebulizers which are disposable and also reusable.

Disease Insights

Increasing occurrences of respiratory infections, majorly chronic obstructive pulmonary disease (COPD) among the elderly people is one of the main reasons, which is resulting in the growth of the global respiratory devices market size. As per the World Health Organization (WHO), a study has been conducted on the global burden of disease, which estimates the cases of COPD approximately, 251.0 million in 2016 across the globe. Furthermore, nearly 10% of the U.S. population are aged 75 and above and are suffering from COPD, as per the Journal of Italian Society of Gerontology and Geriatrics.

Regional Outlook

North America respiratory devices market accounted for the prime share in 2017 and is expected to retain market dominance throughout the forecast period. High per capita healthcare expenditure in the U.S., coupled with well-established healthcare facilities in the country will push the product demand, which in turn enhances the North America respiratory devices market size.

Asia Pacific respiratory devices market share is perceived to grow at the fastest CAGR over the projected period, particularly in the emerging economies such as China and India. The rise in incidences of diseases such as asthma, tuberculosis, pneumonia and chronic obstructive pulmonary disease (COPD) are amongst the key reasons favoring the growth of Asia Pacific respiratory devices market size. As per the study conducted by Tulance University in China in 2018, a nationwide prevalence suggested that 99.9 million people in China at the age of 20 or above were suffering from COPD in 2015. Out of which, 31.5 million and 68.4 million were women and men, respectively.

Key Players

Some of the key players operating in the global respiratory devices market include Medtronic Plc, Masimo Corporation, Becton, Dickinson & Company, Invacare Corporation, and Hamilton Medical A.G. among others. In 2018, Philips acquired Remote Diagnostics Technologies to hold a strong foothold in the Therapeutic Care segment. Furthermore, RDT will benefit and help the company to drive digital transformation, innovate and to enter into new and exciting markets.

Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
Our Research Approach Includes
  •  Market Outlining
  •  Framing discussion guide
  •  Data Validation
  • Data Analysis
  •  Re-Validation and Finalization of Data
  •  Report Insights and Publishing
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