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Respiratory Care Devices Market | Philips Healthcare, Masimo Corporation, Fisher and Paykel Healthcare Limited, ResMed, Inc., Covidien plc., CareFusion Corporation
Respiratory Care Devices Market Overview
The global Respiratory Care Devices Market is predicted to reach an estimated value of $27.7 billion by 2024, with a compound annual growth rate (CAGR) of 6.8%. This growth is largely due to the advancement and improvement of available technologies as well as factors such as rising incidences of respiratory diseases and the growing demand for home healthcare products.
In recent years, technological advancements in Respiratory Care Devices Market have significantly improved the efficiency and effectiveness of treatments for pulmonary illnesses such as asthma, COPD, sleep apnea, cystic fibrosis and other acute and chronic pulmonary conditions.
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The most popular types of respiratory care devices include ventilators, oxygen concentrators, nebulizers, inhalers & masks, breathing circuits & humidifiers and others. These devices are used in the prevention or treatment of various respiratory disorders including sleep apnea, asthma or emphysema.
Respiratory Care Devices Market drivers include increasing prevalence of chronic respiratory diseases; rising geriatric population; advances in medical technology; growing awareness about home healthcare services; increasing consumer preference for non-invasive treatments; better patient compliance due to convenience & portability; increasing disposable incomes across developing countries; and insurance coverage for home health products.
In conclusion, with more awareness about health & wellness needs around the world - coupled with improvements in technology - it's no surprise that the Respiratory Care Devices Market is continuing to expand. Companies need to stay focused on providing safe & effective solutions to ensure customer satisfaction both now and in the future.
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