Overview

Respiratory Care Devices Market is estimated to value over USD 33.2 billion and register a CAGR value of over 8.8% from the forecast period 2020 to 2027.

High prevalence of respiratory diseases coupled with growing levels of pollution are the major factors driving the respiratory care devices market. The rapid adoption of home healthcare has opened lucrative opportunities for manufacturers and is expected to boost the market during the forecast period. Furthermore, rising pollution levels and the increase in tobacco smoking is accelerating the growth of the market. Increase in the adoption of non-invasive ventilation is bolstering the market as well. Additionally, rapid usage of compact respiratory care devices is fueling the growth of the market .

The market is bifurcated into product and end-user. Product type consists of therapeutic devices, monitoring devices, consumables & accessories, and diagnostic devices. Therapeutic devices are anticipated to witness substantial growth during the forecast period. The therapeutic devices are further segmented into humidifiers, inhalers, ventilators, positive airway pressure (PAP) devices, reusable resuscitators. Positive airway pressure is expected to be in vast demand owing to growing cases of obstructive sleep apnea. The availability of reimbursement on PAP devices in regions like North America and Europe is fueling the market.

In terms of end-users, hospitals are expected to dominate the market growth. The financial capabilities of hospitals have allowed hospitals to purchase advanced instruments and acquire trained professionals.

In terms of indication, chronic obstructive pulmonary disease is expected to bolster the market owing to a rising number of deaths caused by COPD. Furthermore, sleep apnea is witnessed to show notable growth owing to the ill effects of untreated sleep apnea.

Based on regions, North America is expected to dictate the market growth. The increasing healthcare expenditure alongside rising cases of asthma and chronic obstructive pulmonary disease is driving the market in the region. The rise in geriatric population alongside favorable reimbursement policies is boosting the presence of the market in the region.

Asia-Pacific region is expected to showcase massive growth owing to rising cases of respiratory disease and air pollution. The presence of high quality healthcare systems in countries like India, China, and South Korea is expected to drive the growth of the market in the region.

Impact of COVID-19 on Respiratory Care Devices Market:

There has been a surge in the demand of respiratory devices like the ventilators which shall propel the market growth. Furthermore, the governments are swiftly taking steps in making important alliances with ventilator manufacturers to tackle the threat of novel coronavirus. In the U.K., the administration has requested automobile manufacturers such as Honda, Rolls Royce and Ford to develop respiratory equipment on the lineup that produces HVAC systems for cars. The UK’s Medicines and Healthcare products Regulatory Agency (MHRA) are making an agreement with the manufacturers to make sure that these manufacturers follow the regulations and norms required to manufacture a respiratory device.

Prominent players of the market are:

Medtronic, Philips Healthcare, ResMed Inc., Fisher & Paykel Healthcare Co. Ltd., Masimo Corp., Getinge AB, Dragerwerk AG, Air Liquide, Vyaire Medical, Invacare Corp., Chart Industries Inc.

Respiratory Care Devices Market

Respiratory Care Devices Market Segmentation:

By Product
• Therapeutic Devices
o PAP Devices
o Ventilators
o Nebulizers
o Humidifiers
o Oxygen Concentrators
o Inhalers
o Reusable Resuscitators
o Nitric Oxide Delivery Units
o Oxygen Hoods
• Monitoring Devices
o Pulse Oximeters
o Capnographs
o Gas Analyzers
• Diagnostic Devices
o Spirometers
o Polysomnography Devices
o Peak Flow Meters
o Other Diagnostic Devices
• Consumables and Accessories
o Masks
o Reusable Masks
o Nasal Masks
o Full-face Masks
o Nasal pillow masks
o Oral Masks
o Disposable Mask
o Disposable Resuscitators
o Tracheostomy Tubes
o Nasal Cannulas
o Other Consumables and Accessories

By Indication
• Chronic Obstructive Pulmonary Disease (COPD)
• Asthma
• Sleep Apnea
• Infectious Disease
• Other diseases

By End-User
• Hospitals
• Home Care Settings
• Ambulatory Care Centers

By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

Respiratory Care Devices Market Video Sample:

Competitive Landscape:

Product launches, mergers, and acquisitions had a positive influence on the market. Fisher Paykel in 2019 launched a new product F&P Optiflow 3S, a Nasal Cannula in a bid to bolster its position in the market
Philips launched its first sleep and respiratory education center in Singapore in 2018
ResMed in 2019, acquired HB Healthcare Safety. The move bolstered the supply of respiratory care devices and home-based medical equipment for sleep

FutureWise Key Takeaways:

Monitoring devices are expected to propel the market during the forecast period. The availability of pulse oximetry in the form of innovative products like bluetooth enabled and fingertip pulse oximeters is expected to accelerate the market growt
Technological advancements in the form of E-Nose and enhanced portable respiratory devices will play a major role in strengthening the market during the forecast period

Objectives of the Study:

To provide with an exhaustive analysis on the global respiratory care devices market by product, by indication, by end-user and by region
To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and Middle East & Africa
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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