European Respiratory Device Market Demands, Growth Factors, Emerging Trends, Competitive Landscape and Forecast to 2025

The European respiratory device market was valued at around $5.8 billion in 2018 and is estimated to grow at a CAGR of around 5.8% during the forecast period. Major countries that contribute to the regional respiratory device market include UK, Germany, France, Italy, and Spain. The rising prevalence of chronic respiratory diseases, increasing geriatric population, and technological advancement are the major factors that augmenting the growth of respiratory device market in Europe. The increasing demand from chronic obstructive pulmonary disease (COPD), Sleep Apnea and asthma patients in the major economies of the region is favoring the growth of the regional market.

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Some of the key players of the market include ResMed Corp., Chieti Farmaceutici S.P.A., GlaxoSmithKline PLC, 3M Co., Novartis AG, Teicos Pharma Ltd., and others.

The European respiratory device market is segmented on the basis of product and end-user. The respiratory product segment is further sub-segmented into therapeutic devices, diagnosis and monitoring devices, and consumables and accessories. The therapeutic devices segment is estimated to dominate the regional market and is also anticipated to grow at the fastest growth rate over the forecast period. The high cost of therapeutics device and significant demand for continuous positive airway pressure (CPAP) devices and masks, ventilator, oxygen concentrator, and oxygen hoods contribute majorly to the segmental growth of the market for therapeutic devices. Based on end-user, the market is analyzed into hospitals and clinics, and home care.

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Additionally, the market is characterized by the presence of several players that are providing respiratory devices within and outside the region. The market players are adopting the strategy of merger & acquisition, product launch and expansion of their manufacturing facilities to increase their market share. For instance, in September 2017, Chiesi Farmaceutici completed the clinical study of Tribute with its Trimbow an extra-fine fixed-dose triple combination inhaler. The organization also got the marketing authorization for Trimbow from the European Commission. In November 2016, the company acquired Atopix therapeutics limited, the transaction aimed to develop novel treatments for asthma and strengthen the company's asthma portfolio.

European Respiratory Device Market Segmentation

European Respiratory Device Market by Product

o Therapeutic Devices
o Diagnostic and Monitoring Devices
o Consumable and Accessories

European Respiratory Device Market by End-User

o Homecare
o Hospitals and Clinics

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