(PharmaNewsWire.Com, July 07, 2021 ) Global Pulmonary Devices Market was valued at USD 18,596 million by 2020 which expected to reach at USD 39,985 million by 2027 at a CAGR 9.8% from 2020-2027.
Pulmonary devices are also called as respiratory devices that are used to remove mucus and secretions from airways or the respiratory tract. The growing prevalence of respiratory diseases, the increase in geriatric population, high prevalence of smoking, sedentary lifestyle, urbanization, and growth in pollution levels boost the global pulmonary devices market growth over the forecast period.
Various key players are discussed in the global pulmonary devices market such Invacare Corporation, Inogen Inc., Caire Inc., GCE Group, O2 Concepts, as Koninklijke Philips N.V., Nidek Medical Types, Inc., Drive DeVilbiss International, Besco Medical, Inova labs Inc., etc.
Impact of COVID-19 on Market
The increase in number of COVID-19 cases across the globe is expected to boost the growth of global pulmonary devices market over the forecast period. The COVID-19 outbreak led to the rapid establishment of several hospitals for treating the increasing number of patients. This has been mirrored in other countries as wellItaly and the United States also built large hospitals within days to accommodate a growing patient population.
Regional Analysis
The Global Pulmonary Devices Market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. These regions are analysed at the country levels. Also, the North America region held the largest market share of the pulmonary devices market in 2020, followed by APAC and Europe region. The APAC market is projected to grow at the highest CAGR over the forecast period, owing to the presence of a large pool of respiratory patients, growing healthcare expenditure, rapidly developing healthcare infrastructure, the increase in per capita income, rising middle-class population in this region.
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