(PharmaNewsWire.Com, October 08, 2018 ) The "Global Respiratory Care Devices Market Analysis to 2025" is a specialized and in-depth study of the respiratory care devices industry with a focus on the global market trend. The report aims to provide an overview of global respiratory care devices market with detailed market segmentation by product, indication, and geography. The global respiratory care devices market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
There are wide range of devices for diagnosis and treatment of number of respiratory diseases such as sleep apnea, asthma, Chronic Obstructive Pulmonary Disease (COPD) and others. Additionally, monitoring devices play a major role in keeping the track of health of the patients with respiratory illnesses. As per the data by the World Health Organization (WHO), in 2017, approximately 235 million people suffer from asthma. This signifies the need for respiratory care for patient with asthma.
Globally, the respiratory care devices market is expected to exhibit healthy growth during the forecast period. Key factors responsible for the growth of the market are increasing prevalence of COPD, asthma and other respiratory diseases and availability of large number of product for diagnosis, treatment and monitoring of diseases. As per the Global Burden of Diseases, in 2015, 3.2 million died of COPD across the globe. Furthermore, rising geriatric population and changing lifestyle of people are the factors boosting the market growth. However, highly competitive nature of the market restrict the entry of new players in the market.
Some of the key players influencing the market are Koninklijke Philips N.V., ResMed, Medtronic, Fisher and Paykel Healthcare Limited, BD, Chart Industries, Inc., Drägerwerk AG & Co. KGaA, Hamilton Medical, Teleflex Incorporated and 3M.
The global respiratory care devices market is segmented on the basis of product, indication and end user. On the basis of product, the market is segmented into therapeutic devices, monitoring devices, diagnostic devices and consumables & accessories. Therapeutic devices is further segmented into Positive Airway Pressure (PAP) devices, nebulizers, inhalers, ventilators, oxygen concentrators, humidifiers, reusable resuscitators, nitric oxide delivery units, and oxygen hoods. Monitoring devices is further segmented into pulse oximeters, capnographs and gas analyzers. Diagnostic devices is further segmented into spirometer, peak flow meters, polysomnography devices, and others. Consumables & accessories is further segmented into disposable masks, tracheostomy tube, nasal cannulas, and others.
On the basis of indication, the market is segmented into asthma, Chronic Obstructive Pulmonary Disease (COPD), sleep apnea, infectious diseases, and other indications.
On the basis of end user, the market is segmented into hospitals, home care, and ambulatory care.
North American market for respiratory care devices is driven by technological development and availability of specialty care services for respiratory diseases. Additionally, the asthma is found to be prevalent among the children. American Academy of Allergy, Asthma & Immunology, in 2016, nearly 8.3% of children in the US were diagnosed with asthma.
Asia Pacific, being the fastest growing market, is driven by rising number of patients suffering from asthma and increasing number of key players focusing on Asia Pacific for geographical expansion. Additionally, rising number of people addicted to smoking and growing demand for respiratory therapeutic devices fuel the market growth.
The report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions.
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