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Respiratory Care devices Market is valued at USD 18.34 Billion in 2018 and expected to reach USD 33.74 Billion by 2025 with the CAGR of 9.1% over the forecast period.
The factors such as increasing prevalence of respiratory diseases, growing geriatric population, increasing demand for point-for-care diagnostics and rising demand for multimodal ventilation are fueling the market growth.
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Scope of Respiratory Care Devices Market Report:
Respiratory care device is nothing but the device which is used for monitoring, diagnosis and treatment of respiratory diseases such as chronic devices. The diseases such as chronic pulmonary disease (COPD), asthma, pneumonia and tuberculosis can be cured by this device. It provides superior care to patients who are suffering from such acute and chronic diseases as it supplies respiratory gas mechanically to patients with impaired respiratory function. The device generates respiratory gas which is enriched with oxygen and conveyed into the lung with a positive pressure.
Key Players for Global Respiratory Care Devices Market Reports–
Globally Manufacturers such as Philips Healthcare, ResMed Inc., Medtronic plc, Masimo Corporation, Fisher & Paykel Healthcare Corporation Limited, Chart Industries, Drager AG, Invacare Corporation, Getinge AB, Air Liquide, Hamilton Medical AG, Vyaire Medical, GE Healthcare, Nonin Medical Inc., Apex Medical Corp., Smiths Group, Omron Healthcare Inc., Allied Healthcare Products, Inc., Teleflex Incorporated, DeVilbiss Healthcare LLC and many others are contributing in to the respiratory care devices market Growth.
The modern respiratory care devices can be able to adjust the inhalations and exhalations automatically with the need of patient. The respiratory care devices such as emergency respiratory devices for rescue application, mobile home respiratory device and long-term respiratory devices for intensive care are available in various versions.
The respiratory care devices market is segmented into product type, indication and end user. On the basis of product type the market is segmented into therapeutic devices, monitoring devices, diagnostic devices and consumables and accessories. On the basis of indication the market is segmented into The Chronic Obstructive Pulmonary Disease (COPD), Asthma, Sleep Apnea and Infectious Disease. On the basis of end user the market is segmented into hospitals, home care settings and ambulatory care centers.
Other diseases regions covered in this respiratory care devices market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Hall Effect Sensor is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Respiratory Care Devices Market Segmentation –
By Product Type: Therapeutic Devices, Monitoring Devices, Diagnostic Devices, 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
Increasing Healthcare Expenditure in Various Countries is Driving the Growth of the Respiratory Care Devices Market.
Various developed and developing countries are witnessing increasing healthcare expenditure which is the driving the respiratory care devices market. This is due to the governments of these countries are investing in improving the quality of healthcare facilities. Also the factors such as increasing healthcare spending in per capita in the developing countries and primarily on account of increasing government initiatives are expected to increase the affordability and accessibility of the treatment and diagnosis for different medical conditions are contributing in the growth of the market. Hence the increasing healthcare expenditure is a major factor fueling the growth of the market. According to Forum of International Respiratory Societies, about 489,000 deaths per year occur or more than 1300 deaths per day occur due to asthma and COPD and it affects more than 200 million people in the world, out of them 65 million peoples have moderate or severe airway disease. Hence increase in prevalence of respiratory diseases such as chronic Obstructive pulmonary disease and asthma is driving the growth of the market.
North America is dominating the Respiratory Care Devices Market.
The North America Region is dominating the market and maintains its dominance for the forecast period of time. This is due to the region has large number of manufacturers of respiratory care devices. According to Forum of International Respiratory Societies, estimated that about 235 million people suffer from asthma, more than 200 million people are suffering from chronic obstructive pulmonary disease (COPD) and according to National Vital Statistics System more than 126,000 adults in US died from COPD in 2005. Hence High prevalence of smoking and respiratory diseases, rising geriatric population and the presence of highly developed healthcare system is driving the market growth.
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