Respiratory Care Devices Market to Witness a Pronounce Growth by 2025
Respiratory care is for patients suffering from pulmonary-related diseases. The therapy includes oxygen cylinders, concentrators and conserving devices, nebulizers, suction machines, and aerosol systems. Currently, patients with respiratory tract diseases use different devices that could help them with the removal of mucus from the airways and improve pulmonary function.
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Rapid urbanization and growing pollution levels, surge in tobacco smoking, increase in preterm births, and rise in respiratory diseases such as asthma, COPD, tuberculosis, and pneumonia are the major factors driving the respiratory care devices market. Moreover, rise in demand for modern technologies, increase in disposable income, and surge in demand for respiratory care devices in private hospitals and specialty clinics boost market growth. However, considerable underdiagnosed and undertreated population with respiratory disorders and high cost of respiratory care devices act as restraints of the market.
Based on device type, the global respiratory care devices market can be segmented into four types: therapeutic devices, diagnostic devices, monitoring devices, and consumables & accessories. The therapeutic devices segment can be divided into ventilators, humidifiers, masks, pap devices, nebulizers, inhalers, oxygen concentrators, nitric oxide delivery units, and others. The diagnostic devices segment can be classified into spirometers, polysomnography (PSG) devices, peak flow meters, and other devices. The monitoring devices segment can be categorized into pulse oximeters, gas analyzers, and capnographs. The consumables & accessories segment can be divided into disposable masks, tracheostomy tubes, nasal cannulas, disposable resuscitators, and others. Therapeutic devices is anticipated to be the largest segment of the market due to rapid rise in respiratory diseases such as asthma and COPD because of high pollution levels.
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In terms of indication, the global respiratory care devices market can be classified into asthma, COPD, sleep apnea, infectious lung diseases, and others. COPD is anticipated to be the fastest growing segment, as tobacco smoking is a key factor in the development and progression of COPD. According to WHO data (2004), there were 64 million patients suffering from COPD and an estimated 3 million succumbed to the disease. COPD is projected to be the third largest cause of death globally by 2030.
Based on end-user, the global respiratory care devices market can be categorized into hospitals & specialty clinics, ambulatory care, and home care. hospitals & specialty clinics is expected to be the largest segment due to modernization of hospital infrastructure, investment in premium priced respiratory devices by hospitals, and requirement of trained professionals to operate and handle respiratory devices used for the treatment.
In terms of region, the global respiratory care devices market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America was the largest market for respiratory drugs due to favorable reimbursement policies and improved diagnosis. However, Asia Pacific is the fastest growing market for respiratory care devices, with China and India developing as major markets for these devices due to growing pollution levels. India has the highest number of TB patients in the world. COPD is also rising in India accounting for 1 in 10 deaths.
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Key players in the global respiratory care devices market are Philips Respronics, Smiths Medical, Inc., Hamilton Medical AG, Hill-Rom Holdings, Inc., ResMed, Inc., Becton, Dickinson and Company, Medtronic plc, Masimo Corporation, Fisher & Paykel Healthcare Ltd., Medline Industries, Inc., and Rotech Healthcare, Inc., among others
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