Press release
Respiratory Care Devices Market: Therapeutic Devices Lead Growth at 9% CAGR to Reach $36.66 Billion by 2029
An analysis of competitors is conducted very well in the reliable Respiratory Care Devices Market report which covers vital market aspects about the key players. Moreover, the report gives out market potential for many regions across the globe based on the growth rate, macroeconomic parameters, consumer buying patterns, their preferences for particular product and market demand and supply scenarios. It gives significant information and data pertaining to their insights in terms of finances, product portfolios, investment plans, and marketing and business strategies. Detailed market analysis has been performed here with the inputs from industry experts.
The therapeutic devices held the largest share of the respiratory care devices market. Data Bridge Market Research analyses that the respiratory care devices market was valued at USD 18.40 billion in 2021 and is further estimated to reach USD 36.66 billion by 2029, and is expected to grow at a CAGR of 9% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Market Definition
Medical equipment used for the diagnosis, management, care, control, treatment, and evaluation of patients with cardiopulmonary disorders is referred to as a respiratory care device. These are used to treat degenerative lung diseases such as asthma, emphysema, chronic bronchitis, and other chronic and acute respiratory illnesses.
Respiratory Care Devices Market Dynamics
Drivers
Major factors that are expected to boost the growth of the respiratory care devices market in the forecast period are as follows:
Rise in the incidence of respiratory diseases
Demand for respiratory care is directly driven by infectious respiratory diseases. The pandemic has increased demand for personal protective equipment and ventilators, among other things will further anticipated to propel the growth of the respiratory care devices market.
Government initiatives
Government and non-profit initiatives such as the global initiative for asthma (GINA), awareness campaigns, and research funding have all had an impact on the industry is a vital factor expected to drive the growth of the respiratory care devices market.
Increase in the geriatric population
In recent years, the global geriatric population has grown at an unprecedented rate. Aging is linked to a progressive decline in lung function as well as an increase in the prevalence of respiratory diseases such as chronic obstructive pulmonary disease and asthma which will further accelerate the growth of the market.
Opportunities
In addition, the rise in the need for home care therapeutic devices is further estimated to provide potential opportunities for the growth of the respiratory care devices market in the coming years.
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Respiratory Care Devices Market Regional Analysis/Insights
North America dominates the respiratory care devices market due to the improved diagnosis. Furthermore, the suitable reimbursement policies will further boost the growth of the respiratory care devices market in the region during the forecast period.
Asia-Pacific is projected to observe significant amount of growth in the respiratory care devices market due to the rise in the levels of pollution in the advancing nation. Moreover, the initiatives by the countries is further anticipated to propel the growth of the respiratory care devices market in the region in the coming years.
Some of the major players operating in the respiratory care devices market are:
Drägerwerk AG & Co. KGaA (Germany)
Fisher & Paykel Healthcare Limited. (New Zealand)
General Electric Company (US)
Getinge AB (Sweden)
Inogen, Inc. (US)
Masimo. (US)
Medtronic (US)
Koninklijke Philips N.V. (Netherlands)
ResMed (US)
VYAIRE. (US)
3B Medical Inc. (US)
Airon Corporation (US)
alpha trace medical systems (Austria)
APEX MEDICAL CORP. (Taiwan)
Besco Medical (China)
Bio-Med Devices (US)
BPL Medical Technologies (India)
CAIRE Inc. (US)
Teleflex Incorporated (US)
Nonin. (US)
Precision Medical, Inc. (US)
SERVONA GmbH (Germany)
Flight-Medical Innovations Ltd. (Israel)
CONTEC MEDICAL SYSTEMS CO.,LTD (China)
Highlights of TOC:
Chapter 1: Market overview
Chapter 2: Global Respiratory Care Devices Market
Chapter 3: Regional analysis of the Global Respiratory Care Devices Market industry
Chapter 4: Respiratory Care Devices Market segmentation based on types and applications
Chapter 5: Revenue analysis based on types and applications
Chapter 6: Market share
Chapter 7: Competitive Landscape
Chapter 8: Drivers, Restraints, Challenges, and Opportunities
Chapter 9: Gross Margin and Price Analysis
Key Questions Answered with this Study
1) What makes Respiratory Care Devices Market feasible for long term investment?
2) Know value chain areas where players can create value?
3) Teritorry that may see steep rise in CAGR & Y-O-Y growth?
4) What geographic region would have better demand for product/services?
5) What opportunity emerging territory would offer to established and new entrants in Respiratory Care Devices Market?
6) Risk side analysis connected with service providers?
7) How influencing factors driving the demand of Respiratory Care Devicesin next few years?
8) What is the impact analysis of various factors in the Global Respiratory Care Devices Market growth?
9) What strategies of big players help them acquire share in mature market?
10) How Technology and Customer-Centric Innovation is bringing big Change in Respiratory Care Devices Market?
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