Global Respiratory Devices Market Witnessed to Record Steady Expansion at a CAGR of 6.5% and Value of Worth US$ 31 Bn by 2026

Aging is associated with progressive decline in lung function and increase in the prevalence of respiratory diseases such as chronic obstructive pulmonary disease and sleep apnea, which as a result has increased the demand for respiratory devices. A fresh study has been recently compiled and added to the vast archive of Market Research Hub (MRH), which is titled as “Respiratory Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026”. The study offers precise analysis and permits the reader to acquire knowledge about the active as well as future market scenario of respiratory devices based on drivers, restraints and opportunities.

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Research Highlights

As the name implies, respiratory devices are medical devices which assist patients having respiration issues. In the current scenario, rising awareness about respiratory diseases and improving healthcare infrastructure are driving the market for respiratory devices. According to the research prime evaluations, the global respiratory devices market was valued at US$ 17 Bn in 2017 and is projected to expand at a CAGR of 6.5% from 2018 to 2026 to reach US$ 31.0 Bn by 2026.

For a clear understanding, the research majorly focuses on some prime regions such as Europe, North America, Asia Pacific, Latin America and Middle East & Africa. In terms of revenue, North America dominated the global respiratory devices market in 2017. In the present time, the rise in geriatric population and government support for respiratory device manufacturers are likely to drive the respiratory devices market in Asia Pacific region.

As the report proceeds, readers can access the executive summary covering opportunity assessment. The market overview section talks about the market size and forecast (2018-2026), Y-o-Y growth and manufacturing sector outlook. Furthermore, details about market dynamics and value chain analysis are also enclosed in the report to enlighten the readers in a systematic manner. In the following section, bifurcation of the market is presented that examines the global respiratory devices industry on the basis of product type and application. By product type, the global respiratory devices market has been segmented into therapeutic devices and diagnostic & monitoring devices.

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Major applications mentioned in the study include Chronic Obstructive Pulmonary Disease, Cystic Fibrosis, Obstructive Sleep Apnea, Asthma, Respiratory Distress Syndrome and Pneumonia. It has been estimated in the study that the segment of COPD is projected to expand at a CAGR of 7% from 2018 to 2026.

Competitive Tracking

At last, the competitive landscape analysis has been included which gives readers detailed analysis and insights on the business and product strategies of leading players. Key players outlined in the study include ResMed, Inc., Chart Industries, Smiths Medical, Koninklijke Philips N.V., Dragerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare, Getinge AB, Medtronic plc, and Vyaire Medical, Inc.

About Market Research Hub

Market Research Hub (MRH) is a next-generation reseller of research reports of different sector like Respiratory Devices Industry Research Reports and analysis. MRH’s expansive collection of industry reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.

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This release was published on openPR.