Therapeutic Respiratory Devices Market to reach $23bn by 2024

Therapeutic Respiratory Devices Market size is set to exceed USD 23 billion by 2024; as reported in the latest study by Global Market Insights, Inc.

Prevalence of COPD has increased from around 3% to over 11.6% amongst people beyond age of over 65 years. This significant change in demographics is set to impact the industry significantly. This anticipated growth in the population and surge in COPD incidence and prevalence will be a major factor driving therapeutic respiratory devices market growth.

Rise in incidence and prevalence rates of lung cancer characterize global therapeutic respiratory devices market, Chronic Obstructive Pulmonary Disorder (COPD), and several other respiratory disorders also drive the demand for therapeutic respiratory devices.

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Oxygen concentrators market is estimated to grow at lucrative CAGR over the forecast period. As reported by WHO, hypoxemia is a major risk factor for death in pneumonia and is a cause of severe disease, the major infectious cause of death in children globally of age 5 years and below. Having a dependable oxygen source and device for determining oxygen saturation is essential to treat patients with hypoxemia and to enhance their chances of survival. As oxygen is involved in the WHO list of essential medicines, it is still not widely available in emerging economies is acting as a major hazard to extremely ill patients.

Oxygen concentrators are a cost-effective, suitable, favorable, and promising option for providing a constant supply of oxygen for the treatment of hypoxemia in emerging economies. Benefits include low-cost and sustainability, in regards to piped oxygen supply systems and oxygen cylinders. These are free-standing, medical devices powered by electrically that absorb nitrogen from ambient air to produce oxygen. They can produce oxygen 24 hours per and day are intended for continuous operation, seven days a week, for about five years or more with nominal precautionary maintenance.

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Germany therapeutic respiratory devices market size was over USD 900 million in 2015. The typical expenditure for bringing a new medical device into the Germany market is roughly around USD 10 million in Germany, compared to roughly USD 80 million in the US. Germany is attractive destination for medical device companies as it is characterized by short timelines for market approval and the cost-effectiveness and quality of its clinical research.

Asia Pacific therapeutic respiratory devices market will witness significant growth increasing at 12.9% CAGR. China therapeutic respiratory devices market accounted for over 20% market share during the forecast period, as the Chinese healthcare infrastructure is experiencing noteworthy transformation. The Chinese government is strategically planning a healthcare insurance system more similar to that of Western countries in which private companies and citizens will need to participate in the costs.

Rapid technological developments in therapeutic respiratory devices market like I-neb nebulizer by Philips Healthcare, an adaptive aerosol delivery (AAD) nebulizer combines AAD technology with mesh technology to deliver a reproducible and precise dose. The I-neb AAD uses multiple breath technology that is automated with the inhalation dose i.e., a computer that is used with these technologies learns the breathing pattern of patient and adjusts to variations in this breathing pattern, based on a series of breaths.

Middle East & Africa positive airway pressure devices market is posed to grow at a CAGR of over 13.0% as rising elderly population propels health supplement consumption. With respect to regional presence major companies in therapeutic respiratory devices are include, Smiths Medical, GE Healthcare, Covidien Plc, CareFusion Corporation, and Philips Healthcare.

Therapeutic respiratory devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:

Therapeutic Respiratory Devices Market By Product

• Nebulizers
o Compressor-based nebulizers
o Piston-based hand-held nebulizers
o Ultrasonic nebulizers

• Humidifiers
o Heated humidifiers
o Passover Humidifiers
o Integrated humidifiers
o Built-in humidifiers
o Stand-alone humidifiers

• Oxygen concentrators
o Fixed oxygen concentrators
o Portable oxygen concentrators

• Positive airway pressure devices
o Continuous positive airway pressure devices
o Auto-titrating positive airway pressure devices
o Bi-level positive airway pressure devices

• Ventilators
o Adult ventilators
o Neonatal ventilators

• Gas analyzers

• Capnographs

Therapeutic Respiratory Devices Market By Technology
• Electrostatic filtration
• HEPA filter technology
• Hollow fiber filtration
• Microsphere separation

Therapeutic Respiratory Devices Market By Filters
• Nebulizer filters
o Inlet filters
o Replacement filters
o Cabinet filters

• Humidifier filters
o Wick filters
o Permanent cleanable filters
o Mineral absorption pads
o Demineralization cartridges

• Positive airway pressure device filters
o Ultra-fine foam inlet filters
o Polyester non-woven fiber filters
o Acrylic & polypropylene fiber filter

• Oxygen concentrators filters
o HEPA filters
o Cabinet filters
o Pre-inlet filters
o Inlet filters
o Micro disk filters
o Felt intake filters
o Bacterial filters
o Hollow membrane filters

• Ventilator filters
o Mechanical filters
 HEPA filters
 ULPA filters
 Activated carbon filters

o Electrostatic filters
 Turbocharged filters
 Fibrillated filters

The above information is provided on a regional and country basis for the following:

• North America
o U.S.
o Canada

• EU
o Spain
o Germany
o France
o Italy
o Switzerland

• Asia Pacific
o India
o China
o Japan

• Latin America (LATAM)
o Brazil

• Middle East
o South Africa

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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This release was published on openPR.