Global Respiratory Care Device Market Report Grooming Rapidly by Rising Trends and Business Opportunity Analysis : Hamilton Medical AG, Koninklijke Philips N.V., Fisher & Paykel Healthcare Limited
Growing outbreak of infectious diseases such as COVID-19 leading to increased demand for respiratory care such as ventilators is the major factor driving growth of the global respiratory care device market. For instance, according to the World Health Organization, COVID-19 cases crossed 75.70 million among which 1.6 million deaths were reported as of 21 December 2020. Moreover, growing demand for home therapeutic care devices is also propelling the market growth.
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Unfavorable reimbursement coverage is the major factor restraining growth of the global respiratory care device market.
North America is expected to dominate the global respiratory care device market due to increasing concerns over rising COVID-19 cases in the region coupled with growing demand for respiratory care devices such as ventilators. For instance, as per the World Health Organization’s live updates on COVID-19 Pandemic, as of 21 December 2020, there were over 32.7 million confirmed COVID-19 cases in the United States. Asia Pacific is expected to be the market due to increasing healthcare expenditure and developments in the region.
Key players of the global respiratory care device market are Hamilton Medical AG, Koninklijke Philips N.V., Fisher & Paykel Healthcare Limited, Invacare Corporation, ResMed, Chart Industries, Becton, Drager Safety, Dickinson and Company, Medtronic, and Masimo Corporation.
In April 2020, Philips launched their superior quality ventilators for healthcare professionals, PHILIPS RESPIRONICS E30 VENTILATOR.
In January 2020, Masimo Corporation acquired NantHealth’s, a constituent company of NantWorks based in the U.S., Connected Care Business in order to assist hospitals in providing constant care to their patients.
Major Type of Respiratory Care Device Covered in This report:
Application Segments Covered in This report
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