Respiratory Therapeutic Devices Market Top Key Players 2023: Masimo, Smiths Group Plc. , Bayer AG, ACare Technology And More

The Global Respiratory Therapeutic Devices Market is expected to grow at an approximate CAGR of 10.8% during the forecast period.
Respiratory therapeutic devices are the medical equipment, which is used in the treatment, management, and control of different cardiopulmonary diseases. These devices are extensively used in the treatment of degenerative lung diseases such as chronic obstructive pulmonary diseases (COPD), asthma, acute bronchitis, cystic fibrosis, and others. Increasing prevalence of asthma drives the market along with increasing per capita healthcare expenditure. According to the World Health Organization in 2017, approximately 235 million people suffer from asthma. Moreover, it was estimated that in 2015, the disease killed approximately 383 million patients around the globe. Moreover, the growing geriatric population and increasing adoption of different therapeutic devices like oxygen concentrator, nebulizer and others are projected to fuel the therapeutic respiratory devices market. However, lack of awareness about respiratory conditions and low per capita income in developing countries may hinder the market growth.
Global Respiratory Therapeutic Devices Market Segmentation:
The Global Respiratory Therapeutic Devices Market is segmented on the basis of product, technology, application, and end users.
On the basis of the product, the market is segmented into nebulizers, capnography, humidifiers oxygen concentrators, and others. The nebulizers segment is sub-segmented into soft mist inhaler, human-powered nebulizer, and others. The capnography segment is sub-segmented into main-stream capnography, side-stream capnography, and others.
On the basis of the technology, the market is segmented into electrostatic filtration, HEPA filtration, hollow fiber filtration, microsphere separation, and others.
On the basis of the application, the market is segmented into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and others.
On the basis of the end users, the market is segmented into hospitals & clinics, retail pharmacies, home care, and others.
Key Players In Global Respiratory Therapeutic Devices Market:
Masimo. (U.S.), BD. (U.S.), Smiths Group Plc. (U.S.), F. Hoffmann-La Roche Ltd (Europe), Bayer AG (Europe), Rotech Healthcare Inc. (U.S.), Chart Industries (U.S.), ACare Technology (Asia Pacific), and others.
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Regional Analysis
America dominates the Global Respiratory Therapeutic Devices Market owing to a well-developed healthcare sector and huge patient population for lung diseases. Apart from this, changing lifestyle and increasing healthcare expenditure have boosted the growth of the market in America. Moreover, the presence of global players like Masimo., BD., Smiths Group plc., and others fuel the regional market growth during the forecast period. Additionally, the presence of the developed economies like the U.S. and Canada boosts the market growth during the forecast period.
Europe is the second largest Respiratory Therapeutic Devices Market owing to a well-developed healthcare infrastructure, government support for research & development and huge patient population. Moreover, the presence of the developing economies within the region like Germany, the U.K, and France fuels the market growth during the forecast period. In 2017, according to a study published in the Asthma Research and Practice journal, the yearly estimated cost for all the asthmatics per patient is about USD 1,900.
Asia Pacific is the fastest growing region in the global market due to the presence of a huge patient population, continuously developing economies like India and China, and the presence of huge opportunity in the market. According to the Indian Brand Equity Foundation in 2017, the Indian healthcare sector is one of the fastest growing industries and is expected to advance at a CAGR of 22.8% and reach USD 280 billion by 2020. Moreover, favorable government policies like reduced excise and customs duty followed by the exemptions in service tax boost the market growth. Additionally, increasing healthcare expenditures fuels demand within the region.
On the other hand, the Middle East & Africa holds the least share of the Global Respiratory Therapeutic Devices Market due to the presence of poor economy, especially, within the African region. Moreover, the absence of developed healthcare sector and stringent government policies may restrain the market growth within the region. Majority of the market is held by the Middle East due to huge healthcare expenditures and the presence of developed economies like Kuwait, Saudi Arabia, Dubai, and Qatar.
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