Respiratory Therapeutic Devices Market to Witness Increasing Growth at 10.8% CAGR In 2023

Respiratory Therapeutic Devices Market report explores Scope of the Study as Research Objective, Assumptions and Limitations in-depth. The report gives Market Dynamics by Drivers, Restraints, Opportunities, Challenges, Macroeconomic Indicators and Technology Trends & Assessment.

Respiratory Therapeutic/ care devices are used for diagnosis, monitoring, and treatment of respiratory diseases such as COPD (chronic obstructive pulmonary disease), Chronic Bronchitis, Tuberculosis, Emphysema Asthma, and Pneumonia. These devices provide advanced care to patients suffering from severe and chronic respiratory diseases. Increasing prevalence of respiratory disorders & diseases in the region predominantly drives the market growth of Respiratory Therapeutic Devices.

Major driving factors for the Respiratory Care Devices Market are the rise in the number of chronic pulmonary obstructive diseased patients, and the continuous surge in numbers due to changing lifestyle and environment such as increasing pollution level and smokers. Furthermore, rising geriatric population, the launching of the new product coupled with the robust pipeline of the product provide impetus to the market growth.

On the other hand, some of the harmful effects of respiratory devices and the low awareness in some of the developing regions are the factors affecting the market growth. Also, the excise tax on devices is expected to impact the market negatively in some countries.

Market Research Future (MRFR), in its recently published market forecast asserts that the Respiratory Therapeutic Devices market will grow exponentially by 2020, registering a striking CAGR throughout the forecast period (2017 – 2020).

Respiratory Therapeutic Devices Market - Key Players

(U.S.)
(U.S.)
Smith’s Group Plc. (U.S.)
Hoffmann-La Roche Ltd (Europe)
Bayer AG (Europe)
Rotech Healthcare Inc. (U.S.)
Chart Industries (U.S.)
Acare Technology (Asia Pacific)

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Respiratory Therapeutic Devices Market - Segmentation

The Global Respiratory Therapeutic Devices Market is segmented on the basis of product, technology, application, and end users.

On the basis of the product, the market is segmented into nebulizers, capnography, humidifiers oxygen concentrators, and others. The nebulizers segment is sub-segmented into soft mist inhaler, human-powered nebulizer, and others. The capnography segment is sub-segmented into main-stream capnography, side-stream capnography, and others.

On the basis of the technology, the market is segmented into electrostatic filtration, HEPA filtration, hollow fiber filtration, microsphere separation, and others. On the basis of the application, the market is segmented into asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, and others. On the basis of the end users, the market is segmented into hospitals & clinics, retail pharmacies, home care, and others.

Respiratory Therapeutic Devices Market - Competitive Analysis

A large portion of respiratory therapeutic device market is acquired by Philips Healthcare, Covidien Plc, Smiths Medical, GE Healthcare. Due to increase in the number of small and medium sized industries acquisition and mergers as well as new product development is adopted by many industries. In 2015, Medtronic Inc. has acquired Covidien Plc. Merger of two company not only increase the profit but also decreases the competition.

April 2017- Ventec Life Systems Company which is developer of integrated respiratory care solutions had announced clearance from the U.S. Food and Drug Administration (FDA) for VOCSN which the only portable life support device is to combine five respiratory therapies i.e. ventilation, oxygen, cough, Suction, and Nebulization. VOCSN is specially designed to improve care for patients with neuromuscular disease impaired lung function (e.g., COPD, Cystic Fibrosis, Lung Cancers, Emphysema).

In March 2016, a definitive agreement was announced by BD announced to sell 50.1% of its Respiratory Solutions business to Apax Partners, forming a joint venture which will operate as an independent company. Respiratory Solutions of the company include Ventilation, Respiratory Diagnostics, Vital Signs and AirLife, and have estimated annual revenue of nearly USD 900 million. The facilities for Respiratory Solutions will be transferred to the new company along with locations in California, Palm Springs, California, Plymouth, Mexico, Brazil; Germany and China. The new company aims at targeting the industry for respiratory devices to achieve progress in the market. This will help the company to achieve growth in the respiratory device market and strengthen its presence in the market.

Ventec Life Systems develops developer of integrated respiratory care solutions.

In April 2017- The company announced clearance for VOCSN which the only portable life support device is to combine five respiratory therapies i.e. ventilation, oxygen, cough, Suction, and Nebulization from the U.S. Food and Drug Administration (FDA). VOCSN is designed to improve care for patients with neuromuscular disease impaired lung function (e.g., COPD, Cystic Fibrosis, Lung Cancers, and Emphysema).

Respiratory Therapeutic Devices Market - Regional Analysis

The Americas dominate the global respiratory therapeutic devices market owing to a huge patient population having cardiopulmonary diseases and well-developed healthcare sector. Moreover, the concentration of the global players like Masimo, BD., Smiths Group plc, besides others along with the increasing healthcare expenditure fuels the regional market growth during the forecast period. In 2015, according to the Centers for Disease Control and Prevention, in the U.S. the total healthcare expenditure accounted for 17.8% of the total gross domestic product (GDP), which accounted for USD 3.2 trillion.

Europe is the second largest respiratory therapeutic devices market owing to a well-developed healthcare infrastructure, government support for research & development, and huge patient population. In 2017, according to a study published in the Asthma Research and Practice Journal, the total estimated cost per year for all the asthmatics per patient is about USD 1,900.

Asia Pacific is the fastest growing market due to the presence of a huge patient population, continuously developing economies like India and China, and the presence of huge opportunities in the market. Moreover, favorable government policies and increasing healthcare expenditure fuel the market within the region.

On the other hand, the Middle East & Africa holds the least share of the global respiratory therapeutic devices market due to the presence of poor economy, especially, within the African region. Majority of the market of this region is held by the Middle East due to the huge healthcare expenditure.

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