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Market Scenario
The global Respiratory Care Devices Market share 2020, according to MRFR, is slated to register significant growth at 10.1% CAGR during the assessment period (2018–2023).
Market Highlights
The increase in the industry is attributed to the rising frequencies of asthma, and chronic pulmonary disorders, among others. As they have evolved from stationary to portable, these machines can be used in hospitals and in-house treatment environments.
Factors such as the mounting prevalence of respiratory diseases, rising geriatric population, urbanization and its negative consequences, and environmental and behavioral improvements are driving business growth. Growing demand for point-of - care diagnostic devices in developed regions is projected to create new opportunities for players in the market for respiratory devices.
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Competitive Dashboard
Some of the major players in the global respiratory care devices market are Drägerwerk AG & Co. KGaA (Germany), ResMed, Inc. (US), Philips Healthcare (Netherlands), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Dickinson and Company (US), Medtronic plc (Ireland), Masimo Corporation (US), and Becton, Chart Industries, Inc. (US), and Hamilton Medical AG (Switzerland).
Segmental Analysis
The global respiratory care devices market has been analyzed on the basis of accessories and consumables, diagnostic devices, therapeutic devices, application, monitoring devices, and end-use industries.
Based on therapeutic devices, the market has been divided as nitric oxide delivery units, oxygen concentrators, pap devices, masks, ventilators, reusable resuscitators, nebulizers, humidifiers, inhalers, and oxygen hoods.
Based on monitoring devices, the market has been segmented as pulse oximeters, pulse oximeter equipment, capnographs, pulse oximeter sensors, and gas analyzers.
The diagnostic devices segment of the market comprises peak flow meters, polysomnography (PSG) devices, spirometers, and other diagnostic devices.
The accessories and consumables segment of the market includes disposable resuscitators, disposable masks, nasal cannulas, tracheostomy tubes, and other consumables and accessories.
Regional Overview
On the demand for respiratory care products, North America is projected to account for the highest market share due to the early introduction of new medical equipment, increasing recognition, improved healthcare industry growth and attractive pay for certain surgical procedures.
The second highest market share is expected to be retained by the European industry. The growth of the market in this area can be due to the growing incidence of diabetic patients, an rising increase of surgeries and the growing demand for advanced care procedures.
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