(PharmaNewsWire.Com, October 21, 2019 ) The study involved 4 major activities in estimating the current market size for the Respiratory Care Devices Market. Exhaustive secondary research was done to collect information on the market as well as its peer and parent markets.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.
The emergence of home healthcare has opened new growth avenues for the respiratory care devices market. Convenience and comfort in a home care environment, coupled with cost advantages, are the major factors driving the growth of the home healthcare market for respiratory care devices.
The major factor driving the growth of the respiratory care devices market is the high prevalence of respiratory diseases as a result of the rapid growth in the global geriatric population, high prevalence of tobacco smoking, urbanization and growing levels of pollution, and changing lifestyles. However, factors such as the presence of an unfavorable reimbursement scenario and the availability of low-cost products from local manufacturers are expected to restrain the growth of this market during the forecast period.
The market in the Asia Pacific region is expected to be the fastest growing in 2019
While the respiratory care devices market in the APAC is relatively smaller than developed markets across North America and Europe, it is expected to grow at the highest rate. This can be attributed to the presence of high-growth markets such as Japan, China, India, South Korea, Taiwan, Australia, and Singapore. In these countries, the rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, and the expansion of private-sector hospitals to rural areas are major factors driving the growth of the respiratory care devices market. Low labor costs and the favorable regulatory environment in the region will also contribute.
The key players in the global respiratory care devices market are Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Chart Industries (US), Drager AG (Germany), Invacare Corporation (US), Getinge AB (Sweden), Air Liquide (France), Hamilton Medical AG (Switzerland), Vyaire Medical (US), GE Healthcare (US), Nonin Medical Inc. (US), Apex Medical Corp. (Taiwan), Smiths Group (UK), Omron Healthcare Inc. (US), Allied Healthcare Products, Inc. (US), Teleflex Incorporated (US), and DeVilbiss Healthcare LLC (US)..
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