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(Medical-NewsWire.com, September 25, 2017 ) The Global Respiratory Devices Market was worth USD 14.44 billion in 2016 and estimated to be growing at a CAGR of 9.40%, to reach USD 22.63 billion by 2021. Respiratory devices are medical devices that are used to aid patients who are suffering from respiratory problems and cannot attain sufficient oxygen levels to sustain life.
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Respiratory diseases are the principal 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 elimination of mucus from the respiratory airways and in doing so enhance the pulmonary function.
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Market Segmentation
• By Type
• By Therapeutic Devices
o BI-PAP Devices
o Nebulizers
o Ventilators
o Resuscitators
o CPAP Devices
o Humidifiers
o Oxygen Concentrators
o Inhalers
• By Diagnostic and Monitoring Devices
o Sleep Test Devices
o Pulse Oximeter
o Spirometers
o Peak Flow Meters
o Capnographs
• By Disposables
o Cannulas
o Filters
o Masks
o Tubes
o Breathing Circuits
• By End Users
o Hospitals
o Home Care
In 2015, the therapeutic devices segment accounted for the major share of the global respiratory devices market. This is mainly accredited to the growing adoption of several therapeutic devices such as nebulizers, PAP devices, humidifiers, and oxygen concentrators due to increase in the elderly populace and increasing frequency of respiratory diseases.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Highly advanced healthcare systems and mounting healthcare costs are the main factors responsible for the large shares of North America and Europe in the global respiratory care devices market. However, the Asia-Pacific region is projected to grow at the highest CAGR, owing to the presence of a vast pool of respiratory patients.
The major companies dominating the Respiratory Devices market are Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation.
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