The market will be growing at the rate of 8.5% owing to increasing adoption of miniaturized respiratory devices & rising cases of respiratory illnesses, says a report by Ken Research
Global Respiratory Devices Market Ecosystem
The Global Respiratory devices market is highly fragmented in nature, with the presence of many international players as well as local players. Some of the major players in the industry include Philips Healthcare, ResMed, Drager & Medtronic.
1. “Illnesses being a growth factor?:” With rising cases of respiratory problems, companies are now realizing the huge potential it holds for the respiratory devices market.
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Infectious respiratory diseases directly drive demand for respiratory care. COVID-19 is the most recent example of these diseases. The pandemic has resulted in a surge for demand for personal protective equipment & ventilators, among others. The demand for ventilators has also grown due to the prevalence of other diseases, resulting in government & industry support for these devices.
2. “Home healthcare devices market providing a boost:” With an increasing trend towards adoption of home healthcare devices, miniaturized respiratory devices have become a need rather than a want.
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The rapid growth in global geriatric population, rising incidents of chronic diseases (including COPD & asthma), alongside the cost advantage of home care devices & services are the key factors driving the global respiratory devices market. As per WHO, a total of 251 Mn cases of COPD were diagnosed globally. The high growth potential in emerging markets, healthcare decentralization & the evolution of miniaturized devices are some of the major factors that are expected to provide significant opportunities to players operating in the respiratory home healthcare market.
By Type of Product
- Respiratory Consumables
- Oxygen Concentrators
- Positive Airway Pressure Devices
- Asia Pacific
- Middle East
- North America
- South America
Time Period Captured in the Report:
- Historical Period:2017- 2022
- Base Year: 2022
- Forecast Period: 2022-2027
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