Respiratory Devices Market Size Estimation by Top Manufacturer, Growth Rate by Region Wise, Latest Trends, Global Forecast To 2018 to 2026 | Coherent Market Insights

Respiratory system is a biological system consisting of specific organs and structures used for gas (CO2 and O2) exchange. If there is a problem in functioning of the respiratory system then the condition may lead to Chronic Obstructive Pulmonary Disease, emphysema, bronchiectasis, asthma, chronic bronchitis or pulmonary fibrosis and others. To treat such conditions several respiratory devices are required, such as positive expiratory pressure, high frequency chest wall oscillation, oral high frequency oscillation, intrapulmonary percussive ventilation, incentive spirometry, and the flutter device. The pulmonary gas exchange is disturbed during general anesthesia, both oxygenation and elimination of carbon dioxide are impaired. The shape of the chest wall alters after the induction of anesthesia-paralysis in recumbent subjects, and its motion during inspiration is also altered. There are several respiratory therapeutic devices used in treating such conditions such as positive expiratory pressure, inhalers, humidifiers, oxygen concentrators, reusable resuscitators, respiratory masks, ventilators, and others.

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Restraints of the Global Respiratory Devices Market

Factors such as frequent product recalls affect distribution of the products leading to shortages which affects the growth of the market up to certain extent. Moreover, high cost of respiratory devices is also expected to hinder growth of the market. For instance, the cost of a primary portable oxygen concentrator ranges between US$ 2,665 and US$ 3,243.

Global Respiratory Devices Market: Restraints

Tempering in respiratory devices is expected to hinder growth of the market. For instance, in July 2019, researchers from CyberMDX reported identifying a susceptibility related to the GE Aestiva and GE Aespire devices, which could lead to unauthorized gas composition input, manipulation of barometric pressure settings and anesthetic agent type selection, remote silencing of alarms, and, alteration of date and time settings.

Moreover, high cost of respiratory devices is also expected to hinder growth of the market. For instance, the cost of a primary portable oxygen concentrator ranges between US$ 2,665 and US$ 3,243.

Global Respiratory Devices Market: Opportunities

R&D of multifunctional polymer composites is expected to offer lucrative growth opportunities for players in the global respiratory devices market. For instance, in February 2020, researchers from National Research Institute, Poland, reported development of a multifunctional polymer composite from polypropylene and poly (ethylene terephthalate) for filtering respiratory protective devices.

Increasing number of pre-term births is also expected to aid in growth of the market. For instance, according to March of Dimes 2019 report card, the preterm birth rate in the U.S. reached 10.02% in 2018 from 9.63% in 2015.

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Global Respiratory Devices Market: Competitive Landscape

Major players operating in the global respiratory devices market include, Masimo Corporation, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, ResMed. Inc., Hamilton Medical AG, Medtronic PLC, Koninklijke Philips N.V., Smiths Medical, General Electric Healthcare Limited, Drägerwerk AG & Co. KGaA, and Inogen Inc.

Global Respiratory Devices Market: Key Developments

Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in January 2020, Masimo Corporation signing of a definitive agreement to acquire the Connected Care assets from NantHealth, Inc.

Similarly, in November 2019, AdaptHealth Corp., a provider of CPAP and BiPAP machines and supplies and respiratory equipment, entered into a definitive agreement to acquire the Patient Care Solutions (PCS) business from McKesson Corporation.

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