The "Respiratory Devices Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
Asthma is one of the largest contributors to this figure, affecting children, adults, and elderly people. There is a high prevalence of severe asthma in the emerging markets of MEA and Latin America, compared to the mid-range prevalence in North America, Europe, and Asia-Pacific. More recently, the COVID-19 outbreak has also increased the demand for respiratory devices like Ventilators.
Moreover, the technological advances, increasing portability, and ease of operation of devices are fueling the expansion of respiratory devices in home and alternate care settings, across the world. In addition, government and non-profit initiatives, such as the global initiative for asthma (GINA), awareness programs, and funding research studies have influenced the industry.
Key Market Trends
Therapeutic Devices are Expected to grow fastest during the forecast period
Recently, therapeutic devices like ventilators have been in high demand due to outbreak of COVID-19. A ventilator is a machine that provides mechanical ventilation by moving breathable air into and out of the lungs, to deliver breaths to a patient who is physically unable to breathe, or breathing insufficiently. Modern ventilators are computerized microprocessor-controlled machines, but patients can also be ventilated with a simple, hand-operated bag valve mask. Ventilators are chiefly used in intensive-care medicine, home care, and emergency medicine and in anesthesiology.
North America Region Holds the Largest Market Share of Respiratory Devices Market Currently and is Believed to Follow the Same Trend over the Forecast Period
North America accounts for the largest share of the market studied. This can be primarily attributed to the increasing prevalence of respiratory diseases. According to the data published by the World Health Organization (WHO), the Global Burden of Disease Study reported a prevalence of 251 million cases of Chronic Obstructive Pulmonary Disease (COPD) globally in 2016. Moreover, the burden of COVID-19 outbreak was enormous.
The presence of major players in the region, such as GE Healthcare, Medtronic, and ResMed Inc., are also augmenting the growth of the market.
The respiratory devices market consists of several major players. The companies are implementing certain strategic initiatives, such as a merger, new product launch, acquisition and partnerships that help them in strengthening their market position. For instance, in May 2017, the Dragerwerk AG & CO. KGAA introduced Oxylog VE300, a newly developed emergency and transport ventilator that is particularly apt for use outside of the hospital environment.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Respiratory Disorders, such as COPD, TB, Asthma, and Sleep Apnea
4.2.2 Technological Advancements and Increasing Applications in Homecare Setting
4.3 Market Restraints
4.3.1 High Cost of Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Diagnostic and Monitoring Devices
22.214.171.124 Sleep Test Devices
126.96.36.199 Peak Flow Meters
188.8.131.52 Pulse Oximeters
184.108.40.206 Other Diagnostic and Monitoring Devices
5.1.2 Therapeutic Devices
220.127.116.11 CPAP Devices
18.104.22.168 BiPAP Devices
22.214.171.124 Oxygen Concentrators
126.96.36.199 Other Therapeutic Devices
188.8.131.52 Breathing Circuits
184.108.40.206 Other Disposables
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 DeVilbiss Healthcare LLC
6.1.2 Dragerwerk AG
6.1.3 Fisher & Paykel Healthcare Ltd
6.1.4 GE Healthcare
6.1.5 Getinge AB
6.1.6 GlaxoSmithKline PLC
6.1.7 Invacare Corporation
6.1.8 Koninklijke Philips NV
6.1.9 Medtronic PLC
6.1.10 ResMed Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201022005858/en/
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