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(Medical-NewsWire.com, June 20, 2017 ) The Europe Respiratory Devices Market was worth $3.90 billion in 2016 and estimated to be growing at a CAGR of 9.47%, to reach $6.13 billion by 2021. Respiratory devices are devices that are used to support people who are suffering from respiratory problems and cannot achieve satisfactory oxygen levels to sustain life.
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Respiratory diseases are the main cause of deaths globally. Lung infections like pneumonia and lung cancer, chronic obstructive pulmonary disease (COPD), and tuberculosis together accounted for around 12.5 million deaths globally during 2015, which is on-fifth of the worldwide total. These devices help in the exclusion of mucus from the respiratory airways and in doing so augment the pulmonary function.
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Rising aging population is one of the major driver for the Respiratory Devices market in this region. Another aspect is that European countries face comparable economic and demographic burdens and share an interest in scrutinizing their impact on health outcomes nationally and across Europe. However, growing healthcare costs and harmful effects of certain respiratory care devices on neonates are the main factors restraining the growth of the market in this region.
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The Europe Respiratory Devices market is segmented based on Type. The market for Respiratory Devices, on the basis of type, is segmented into Therapeutic Devices, Diagnostic and Monitoring Devices, and Disposables. On the basis of Therapeutic Devices, the global Respiratory Devices market is segmented into BI-PAP Devices, Nebulizers, Ventilators, Resuscitators, CPAP Devices, Humidifiers, Oxygen Concentrators, Inhalers. On the basis of Diagnostic and Monitoring Devices, the europe Respiratory Devices market is segmented into Sleep Test Devices, Pulse Oximeter, Spirometers, Peak Flow Meters, Capnographs. On the basis of Disposables, the global Respiratory Devices market is segmented into Cannulas, Filters, Masks, Tubes, Breathing Circuits. The therapeutic devices segment leads the global market and this is mainly due to the growing adoption of several therapeutic devices such as nebulizers, humidifiers, and oxygen concentrators. Based on End Users the Europe Respiratory Devices market is segmented into Hospitals and Home Care.
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The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. European is the second largest market with a global share of 27%. Germany is the largest market share holder for the Respiratory Devices market in this region, followed by the UK and France. Other important markets in the region are Norway, Netherlands, Denmark, and Greece.
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The major companies dominating the market in this region are Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation.
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