Therapeutic Respiratory
Devices Market
share is propelled due to rising geriatric population, growing adoption of
advanced therapeutic devices, and continuous surge in COPD patients due to
increasing pollution level and cigarette smoking. Therapeutic respiratory
devices market is on the rise due to the growing prevalence of respiratory
diseases such as asthma and chronic obtrusive pulmonary diseases (COPD). COPD
is one of the leading causes of demises globally.
According
to Global Market Insights, Inc., “Therapeutic Respiratory Devices
Market size worth USD 8.5 billion in 2015, is
estimated to grow at a CAGR of 11.7% over the period of 2016-2024.” These
devices are used in the treatment of range of diseases including obstructive
sleep apnea, asthma, cystic fibrosis, respiratory distress syndrome, chronic
obstructive pulmonary disease, and pneumonia.
Japan
has the largest geriatric population, owing to which Japan therapeutic
respiratory devices industry is projected to exceed USD 2 billion by 2024,
having had a revenue of USD 750 million in 2015. Moreover, growing health
awareness and expansion in healthcare industry will drive the regional growth.
Brazil therapeutic respiratory devices market is anticipated to register a CAGR
of 13% over the period of 2016-2024.
The
global therapeutic respiratory devices market is segmented on the basis of
products, filters and technology. Growing adoption of therapeutic products and
filters such as Nebulizers, Gas Analyzers, Capnographs, Humidifiers, Oxygen
Concentrators and PAP devices will spur therapeutic respiratory devices market
growth. Oxygen concentrators is anticipated to grow at a rate of 12.4% CAGR
over the period of 2016-2024, owing to improved healthcare services and growing
awareness in low-income regions. Pneumatic Nebulizers Market size was worth
over USD 1 billion and accounted for 13% therapeutic respiratory devices industry
share. Moreover, positive airway pressure (PAP) devices accounted for over 55%
of overall industry share in 2015. The humidifier filters are widely used in
hospitals, home, schools, and healthcare entities and is anticipated to grow at
a rate of 12.5% over the period of 2016-2024.
Browse key
industry insights spread across 126 pages with 60 market data tables &
around 10 figures & charts from this 2017 report Therapeutic Respiratory Devices Market in detail along with the table of contents at:
The
introduction of technological innovations such as Electrostatic Filtration,
Microsphere Separation, Hollow Fiber Filtration, and HEPA filter technology are
expected to serve as future growth opportunities for therapeutic respiratory
devices market. Electrostatic filtration revenue is projected to witness over
11.5% CAGR over the period of 2016-2024, owing to its wide acceptance and easy
maintenance. Moreover, HEPA filter technology accounted for 35% of therapeutic
respiratory devices market share in 2015 due to its effective air filtration
technique and wide span of applications.
Geographically,
North America accounted for the largest industry share, and was pegged at USD 3
billion in 2015. US therapeutic respiratory devices market share is anticipated
to witness a CAGR of 10.8% over the period of 2016-2024, owing to large pool of
COPD patients and promising regulatory scenario.
Over the
coming years, therapeutic respiratory devices industry players will adopt
business strategies such as mergers, collaborations & strategic alliances,
and R&D investments, focused on expanding their product portfolio. Key
companies include GE Healthcare, CareFusion, Covidien, Invacare, Smiths
Medical, Philips Healthcare, etc.
Browse Related Reports:
Pneumatic Nebulizers Market
Size By Product (Breath-Actuated, Vented), Industry
Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Spain,
Italy, Japan, China, India, South Africa, Brazil, Mexico), Unit Shipments,
Application Potential, Price Trends, Competitive Market Share & Forecast,
2016 – 2023
About Global Market Insights:
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