Global Respiratory Devices Market Size was valued nearly USD 17 billion by 2017 and is estimated to reach up to USD xx.xx billion by 2025. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 9.10% during the forecast period that is 2017-2025. Demand for respiratory devices has gained traction on account of rising incidences of chronic pulmonary and respiratory diseases such as lung cancer, emphysema, chronic bronchitis, and sleep apnea among others. Respiratory diseases aid in the treatment, management, diagnosis, and control of the abnormality in the cardiopulmonary system in patients.

Global Market Growth Opportunities (Revenue, Growth) By 2017-2025

This global market study report analysis offers in-depth insights, revenue details, and other vital information regarding the global respiratory devices market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2025. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global respiratory devices market report has been segmented on the basis of type, application, and region. It includes the estimation of the market size, in terms of value, with respect to 4 main geographies, namely, North America, Europe, APAC, and RoW.    

Market Dynamics

Rising incidences of lung cancer are one of the key factors augmenting the growth of respiratory devices market size at present. According to the American Cancer Society, approximately 234,030 cases of lung cancer were reported in 2018 and approximately 154,050 cases of deaths were reported due to lung cancer in the U.S. in the same year. Further, according to Veracious Statistics Research, more than 9% of the population in the U.S. suffered from asthma in 2017. In 2016, more than 10% population in the U.S. suffered from asthma in the country fell in the age group of 5-14 years. Tobacco smoking is another major cause of lung cancer, which in turn have the capability to the inception of several respiratory diseases. According to Veracious Statistics Research, more than 6.0 trillion cigarettes were smoked across the globe, in which China is the leading country with a share of more than 40% in terms of smoking. Moreover, the steady growth of the geriatric population across the globe is another key factor pushing the market growth of respiratory devices at present. However, the growth of the market is held back by low-cost respiratory devices produced by the local manufacturers.

Product Insights : Therapeutic respiratory devices market size is expected to grow significantly over the forecast period, owing to the rising technological advances such as lightweight, portability, high efficiency, etc. which may boost the product demand in the global respiratory devices market share. For instance, Philips provides robust and advanced SideStream Nebulizers with an innovative design, which facilitates faster drug delivery and also takes a shorter time during treatment. The company also offers various nebulizers which are disposable and also reusable.

Disease Insights: Increasing occurrences of respiratory infections, majorly chronic obstructive pulmonary disease (COPD) among the elderly people is one of the main reasons, which is resulting in the growth of the global respiratory devices market size. As per the World Health Organization (WHO), a study has been conducted on the global burden of disease, which estimates the cases of COPD approximately, 251.0 million in 2016 across the globe. Furthermore, nearly 10% of the U.S. population are aged 75 and above and are suffering from COPD, as per the Journal of Italian Society of Gerontology and Geriatrics.

Regional Analysis

The global respiratory devices market is divided into regions that are North America - U.S, Canada, Other; Asia-Pacific -India, Japan, China, Australia, Other; Europe - UK, Russia, France, Brazil, Other; Middle East and Africa. Every region analysis details in sense of growth, revenue, volume, challenges, and opportunities with the regional and global key players. North America respiratory devices market accounted for the prime share in 2017 and is expected to retain market dominance throughout the forecast period. High per capita healthcare expenditure in the U.S., coupled with well-established healthcare facilities in the country will push the product demand, which in turn enhances the North America respiratory devices market size.

Global Respiratory Devices Market Size, Share Analysis By Region 2017

Asia Pacific respiratory devices market share is perceived to grow at the fastest CAGR over the projected period, particularly in the emerging economies such as China and India. The rise in incidences of diseases such as asthma, tuberculosis, pneumonia and chronic obstructive pulmonary disease (COPD) are amongst the key reasons favoring the growth of Asia Pacific respiratory devices market size. As per the study conducted by Tulance University in China in 2018, a nationwide prevalence suggested that 99.9 million people in China at the age of 20 or above were suffering from COPD in 2015. Out of which, 31.5 million and 68.4 million were women and men, respectively. Middle East and Africa held the measurable growth in the global market in 2018 and will expand at the significant CAGR during the forecast years.    

Global Respiratory Devices Market Study Objective

1. To forecast the market size of respiratory devices market, along with describing and defining the market, in terms of volume and revenue as well as market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

2. Market analysis and forecast of respiratory devices market on the basis of region, substrate and application or end-use industry. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

3. To analyze and elaborate significant factors that will have major impact on the growth of respiratory devices market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of respiratory devices market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the respiratory devices market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

Key Players

Some of the key players operating in the global respiratory devices market include Medtronic Plc, Masimo Corporation, Becton, Dickinson & Company, Invacare Corporation, and Hamilton Medical A.G. among others. In 2018, Philips acquired Remote Diagnostics Technologies to hold a strong foothold in the Therapeutic Care segment. Furthermore, RDT will benefit and help the company to drive digital transformation, innovate and to enter into new and exciting markets.

Global Respiratory Devices Market Study Report Offer You!

The global market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast. The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.