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Respiratory Care Devices Market Growth Evolution, Trends Innovation, Major Product Segment and Forecasts Report 2031 | Philips Healthcare, ResMed Inc., Medtronic plc., Masimo Corporation
Respiratory Care Devices Market
New York, According to a new market research report published by Global Insight Services Respiratory Care Devices Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Respiratory care devices are used for diagnosis, monitoring, and treatment of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, tuberculosis, and pneumonia. These devices provide enhanced care to patients suffering from such acute and chronic respiratory diseases. The report analyzes the respiratory care devices market on the basis of product type, end user, and geography.
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Market Trends and Drivers
Outbreak of infectious diseases affecting the respiratory system thus will increases the demand for respiratory care devices thereby augmenting the market growth. Infectious respiratory diseases directly drive demand for respiratory care. COVID-19 is the most recent and significant of these diseases; the pandemic has resulted in a surge in demand for personal protection equipment and ventilators, among others. The demand for ventilators has also grown due to the COVID-19 outbreak, resulting in governmental and industrial support for driving the pace of manufacturing. This is indicative of the emphasis on respiratory care in the background of an outbreak; the market is expected to show a healthy growth rate, as a result.
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Market Restraints and Challenges
Unfavorable reimbursement scenario may restrain the market growth. Many patients rely on reimbursements to receive treatment. The diagnostic industry as a whole and respiratory care diagnostics, in particular, is presently facing the challenge of lack of reimbursements for various diagnostic tests. Reimbursement policies are dispersed in Europe and are available only for PAP devices and oral appliances in select countries (devices that are not covered by insurance have a low market share in the region). Also, the majority of countries in the Asian and ROW regions have negligible reimbursement coverage for respiratory care devices.
Global Respiratory Care Devices Market Segmental Overview
The report analyses the global respiratory care devices market based on product, application, end use, and region.
Global Respiratory Care Devices Market by Product
Based on product, it is segmented into positive airway pressure (PAP) devices, oxygen concentrator, ventilators, inhalers, nebulizers, humidifiers, and others. Among these, the positive airway pressure devices segment accounted for significant market share in 2021 driven by growing product approval and new product launches due to technological advancements in therapeutic respiratory devices. The PAP devices are further divided into continuous positive airway pressure (CPAP) devices, auto-titrating positive airway pressure (APAP) devices, and bi-level positive airway pressure (BiPAP) devices. PAP devices open patients' airway and prevents it from collapsing while they are asleep, enabling them to breathe normally. For instance, in August 2021, ResMed launched AirSense11, a next-generation PAP therapy device. It has a feature of remote software update that ease into therapy and has comfort during night use. Such innovations in therapeutic respiratory devices will upsurge market growth during the analysis period.
Major Players in the Global Respiratory Care Devices Market
The key players in the market are Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc. (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare (New Zealand), Drager AG (Germany), Invacare Corporation (US), Nihon Kohden (Japan), Getinge AB (Sweden) and Air Liquide (France), among others.
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Reasons to buy Respiratory Care Devices Market Report:
• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Website: https://www.globalinsightservices.com/
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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