Therapeutic Respiratory Devices Market size $23.65bn by 2024
Growing geriatric population, rising prevalence of chronic disorders, and increased demand in home healthcare institutions are the major factors slated to drive therapeutic respiratory devices market size. Technological advancements and presence of untapped opportunities in countries such as India, China, and Japan are expected to be key opportunity areas for industry participants over the forecast timeframe.Request for a sample of this research report – https://www.gminsights.com/request-sample/detail/696
Global therapeutic respiratory devices market size is predominantly driven by the PAP devices. Rising prevalence of sleep apnea coupled with growing geriatric population are the key contributing factors. Furthermore, rising preference of this equipment owing to easy portability and rapid relief are responsible for expected growth. PAP devices was followed by the oxygen concentrators market owing to rising demand in home healthcare and growing demand for oxygen therapy among patients. Product innovation has led to application in the treatment of chronic as well as acute respiratory conditions, thereby propelling growth. Respiratory monitoring products utilize software applications for ensuring data collection and analysis from ventilators equipped across the healthcare system. However, the number of users tends to decline with the increase in use duration owing to the ambiguity regarding usage and side effects such as morning headaches. In case of oral appliances, a similar pattern has been observed. Use of this equipment causes excess saliva build up and muscle soreness thereby leading to reduce in patient compliances.
North America was the largest regional segment, with revenue estimated at over USD 3 billion in 2015. This was mainly due to U.S. therapeutic respiratory devices market share, which contributed more than half of the North American revenue on account of high respiratory disorder prevalence and promising regulatory scenario. India, China, South Africa, and Brazil should witness lucrative growth in the forecast years owing to advancing healthcare infrastructure, favorable political and regulatory scenario, and advent of new companies in these regions.
Browse key industry insights spread across 126 pages with 60 market data tables & 11 figures & charts from the report, “Therapeutic Respiratory Devices Market Size By Product (Nebulizers, Humidifiers, Oxygen Concentrators, Positive Airway Pressure, Ventilators, Capnograph, Gas Analyzer), By Technology (Electrostatic Filtration, HEPA Filter, Hollow Fiber Filtration, Microsphere Separation), By Filter (Nebulizer, Humidifiers, Positive Airway Pressure, Oxygen Concentrators, Ventilators), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain, Italy, Switzerland, China, India, Japan, Mexico, Brazil, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”in detail along with the table of contents:
Key insights from the report include:
• Global therapeutic respiratory devices market size was USD 8.82 billion for 2015, with revenue forecast to reach USD 23.65 billion by 2024, at 11.7% CAGR.
• Electrostatic technology will continue to dominate overall revenue throughout the forecast timeline, and was pegged at USD 3.1 billion in 2015.
• Large patient pool of COPD, asthma, and sleep apnea along with high level of awareness regarding the treatment of respiratory diseases will drive the U.S. therapeutic respiratory devices market share. Germany and France together contributed around 47% to the European revenue in 2015.
• The therapeutic respiratory devices industry is characterized by stringent FDA regulations, and huge capital investment in launching new products.
• India, Japan, and China therapeutic respiratory devices market share will drive demand in Asia Pacific. Japan has largest number of geriatric population, LATAM growth was driven by Brazil and Mexico.
• Key companies include Philips Healthcare, GE Healthcare, Covidien, Invacare, Smiths Medical, Care Fusion, etc. Mergers, acquisitions, and R&D investments represent the major strategies practiced by incumbent players.