Press release
Respiratory Care Devices Market Size Analysis, Drivers, Restraints, Key Factors Forecast-2028
The Respiratory Care Devices Market is expected to grow from US$ 18,114.31 million in 2021 to US$ 32,761.82 million by 2028; it is expected to grow at a CAGR of 8.9% from 2021 to 2028.The report highlights trends prevailing in the market and factors driving the respiratory care devices market. The respiratory care devices market growth is attributed to the increasing prevalence of infectious respiratory diseases, rapidly increasing cases of asthma and COPD, rising number of product launches and approvals, and growing R&D investment for respiratory care devices. However, cutthroat competition among market players and unfavorable reimbursement scenarios are hampering market growth.
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Analysis of the Top Market Players:
1. Koninklijke Philips N.V.
2. ResMed Inc
3. Medtronic
4. Masimo
5. THERMO FISHER SCIENTIFIC INC.
6. Dragerwerk AG & Co. KGaA
7. Invacare Corporation
8. Getinge AB.
9. Nihon Kohden Corporation
10. Air Liquide
11. Teleflex Incorporated
In this report, the market has been segmented on the basis of:
Product
β’ Therapeutic Devices
o Positive Airway Pressure (PAP) Devices (CPAP Devices, APAP Devices, and BiPAP Devices)
o Oxygen Concentrators (Fixed Oxygen Concentrators and Portable Oxygen Concentrators
Respiratory care devices include devices intended to assist patients during respiratory disease management. The most commonly used respiratory care devices are oxygen concentrators, ventilators, nebulizers, inhalers, positive airway pressure (PAP) devices, spirometers, etc. These devices mainly perform therapeutic, diagnostic, and monitoring functions.
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Rapidly Increasing Cases of Asthma and COPD: Respiratory Care Devices Market Growth
Chronic respiratory diseases (CRDs) affect the airways and other structures of the lungs. The most common CRDs are chronic obstructive pulmonary diseases (COPD), asthma, occupational lung diseases, and pulmonary hypertension. Asthma and COPD symptoms and causes are equivalent to the signs of the COVID-19, which indicates the respiratory devices used in their treatment are quite common. According to the paper published by the Journal of Allergy and Clinical Immunology, in 2020, patients with COPD and asthma increased adherence to inhalers medications during the Covid-19 pandemic. Moreover, in 2020, the number of inhalers prescribed by general practitioners in England increased by 63% between February 2020 and March 2020, as stated by the National Health Service (NHS). Further, some parts of the world, such as the UK and the US, experienced shortages of inhalers because of their use during the COVID-19. Thus, COVID-19 has propelled the growth and opportunities for the manufacturers of COPD and Asthma devices.
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