IQ4I Research & Consultancy published a new report on “Respiratory Care Device Global Market – Forecast To 2022”

The devices used for the diagnosis, monitoring and therapeutic purpose of the cardiopulmonary problem are called as Respiratory care devices. Respiratory care devices market is advancing at a steady rate, as estimated by IQ4I Research that the respiratory care devices global market are expected to grow at a high single-digit CAGR to from 2015-2022.
Rising incidences of respiratory diseases, urbanization and increasing pollution, increasing the prevalence of tobacco usage, increasing preterm birth incidence, rising use of non invasive ventilators are some of the drivers of the market. Growing demand for home care therapeutic devices, a huge pool of undiagnosed sleep apnea patients and increasing COPD leading to increasing the requirement of ventilators are some of the opportunities that are propelling the growth of the market. However, lack of awareness of the disease, large underdiagnosed and undertreated population, harmful effects of certain devices on neonates are some of the restraints of the market. Availability of low-cost products from local manufacturers, stringent regulations for approval and mandatory licensing for practitioners and reimbursement issues are some of the treats of the market.

The respiratory care devices global market by products is segmented into therapeutics, monitoring, diagnostics and consumables. Therapeutics devices are divided into humidifiers, nebulizers, oxygen concentrators, positive airway pressure devices (PAP), resuscitators, ventilators, inhalers, diaphragm pacing and others. New technology inhaler called as the smart inhalers are designed to improve the management of the lung disease by helping in the reminding daily medication for patients and keep the disease under control. Monitoring devices are segmented into pulse oximeters, capnographs and gas analyzers. Consumable products are segmented into masks, tracheostomy tubes, nasal cannulas and others. The respiratory care devices global market by applications is segmented into nine major divisions such as acute respiratory distress syndrome, asthma, chronic obstructive pulmonary disease, cystic fibrosis, pulmonary fibrosis, pneumonia, respiratory failure, sleep apnea, lung cancer, tuberculosis and others.

Hospitals and home health care are the end-users of the respiratory care devices market. Among these, Hospital accounted for revenue for highest revenue at 2015. Home health care is expected to grow at fastest CAGR as home treatment is less expensive and due increasing pricing pressure of reimbursement payers.

The Respiratory care devices global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world.

Some of the technological advancements such as cloud technology, Wearable patient monitoring devices, healthcare mobile app and telemedicine, cognitive computing and Image analytics are set to improve the adoption and reach of healthcare analytics tools.

Major players in the respiratory care devices global market are Becton, Dickinson and Company (U.S.), Chart Industries (U.S.), Drager Medical AG & Co. KGaA (Germany), Fisher & Paykel Healthcare (New Zealand), GE Healthcare (U.S.), Invacare Corporation (U.S.),Getinge Groups (Sweden), Medtronic (Ireland), Philips Healthcare (U.S.) and ResMed, Inc. (U.S.).

IQ4I (Intelligence Quotient for Innovation) Research and Consultancy Pvt. Ltd. is a global strategy, consulting and a leading market research company. Our clients include leading businesses, investment banks, researchers and government agencies. We are a team of highly qualified consultants and market researchers, committed to help clients make strategic decisions by providing relevant and firmly reliable Intelligence support. We enable our clients to identify the market opportunities with best-in-class market intelligence reports.

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This release was published on openPR.