In the present era, with the increase in population and industrialization, the pollution in the surrounding has grown more effectively. Moreover, owing to these factors present the world’s biggest health concerns are respiratory diseases, causing one-sixth of all deaths around the globe. It is experienced that more than 35 million people grieve from some form of the respiratory syndrome, and one in six deaths is affected by some kind of chronic lung diseases in the US alone. Some of the chronic respiratory diseases are severe respiratory distress syndrome, asthma, cystic fibrosis, respiratory failure, lung cancer, chronic obstructive pulmonary diseases, pulmonary fibrosis, pneumonia, sleep apnea, and several other respiratory diseases. The devices utilized for the identification, treatment, and nursing of these cardiopulmonary disorders are known as respiratory care devices.
In addition, the players of respiratory care devices market are playing an important role in developing the technologies of diagnosis for making an efficient treatment at a reasonable price which further increases the demand for devices and leading the fastest market growth with the handsome amount of share around the globe more positively during the forecasted period. According to the report analysis, ‘Global Respiratory Care devises Market - Drivers, Opportunities, Trends, and Forecasts: 2017-2023’ states that there are several key players which are presently functioning in this sector more actively for leading the fastest market growth and dominating the handsome amount of share around the globe in the short span of time while spreading the awareness related to the applications of advanced respiratory care devices and effective introduction of the research and development programs for launching new and innovative respiratory care devices at a reasonable price includes Medtronic Plc, Fisher and Paykel, Becton Dickenson and Company, Hamilton Medical, Drager Healthcare GmbH, Chart Industries, Philips Healthcare, Maquet (Getinge Group), Masimo Corp., GE Healthcare and other predominate & niche players. Moreover, many of the players in this market are adopting the effective strategies and policies of doing work for effective monitoring the cardiopulmonary disorders and generating the handsome amount of revenue in the coming years.
The Global Respiratory Care Devices Market is anticipated to observe a CAGR of 8.8% during the forecast period 2017-2023. Moreover, the global market of respiratory care devices is sectored into three major segments such as end users, product type and regions. Whereas, based on the product type, the market is sub-divided into therapeutics, monitoring, diagnostics, and consumables. The Therapeutic devices sector controls the largest share in the global market with more than 65% of the total market share. Owing to the better technology advancement in this sector, therapeutic devices are anticipated to increase at a foremost CAGR during the forecast period.
Additionally, based on the region, the market is spread across the globe which majorly involves Americas, EMEA, APAC, and Rest of the World (ROW). However, the Americas is set to be a significant region for the respiratory care devices market growth followed by Europe. Furthermore, the Asia Pacific region and ROW are set to be the developing regions. India, China, and Japan are set to be the most eye-catching destinations owing to the great untapped market. Therefore, in the near future, it is anticipated that the market for respiratory care devices will increase around the globe more positively over the forecasted period.
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Global Respiratory Care Devices Market Size Study, By Product (Therapeutic, Monitoring, Diagnostic Devices, Consumables), By Disease (Chronic Obstructive Pulmonary Disease (COPD), Sleep Apnea, Asthma, Infectious Diseases, Other Diseases/Disorders) End User (Hospital, Home Care, Ambulatory Care), And Regional Forecasts, 2017-2025
Ankur Gupta, Head Marketing & Communications