Respiratory Care Devices Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026 Global Respiratory Care Devices Market Introduction The global respiratory care devices market is estimated to value over USD 32 billion and register a CAGR value of over 8% from the forecast period 2019 to 2026. High prevalence of respiratory diseases coupled with growing levels of pollution are the major factors driving the respiratory care devices market. The rapid adoption of home healthcare has opened lucrative opportunities for manufacturers and is expected to boost the market during the forecast period. Furthermore, rising pollution levels and the increase in tobacco smoking is accelerating the growth of the market. Increase in the adoption of non-invasive ventilation is bolstering the market as well. Additionally, rapid usage of compact respiratory care devices is fueling the growth of the market . Global Respiratory Care Devices Market Overview The market is bifurcated into product and end-user. Product type consists of therapeutic devices, monitoring devices, consumables & accessories, and diagnostic devices. Therapeutic devices are anticipated to witness substantial growth during the forecast period. The therapeutic devices are further segmented into humidifiers, inhalers, ventilators, positive airway pressure (PAP) devices, reusable resuscitators. Positive airway pressure is expected to be in vast demand owing to growing cases of obstructive sleep apnea. The availability of reimbursement on PAP devices in regions like North America and Europe is fueling the market. In terms of end-users, hospitals are expected to dominate the market growth. The financial capabilities of hospitals have allowed hospitals to purchase advanced instruments and acquire trained professionals. In terms of indication, chronic obstructive pulmonary disease is expected to bolster the market owing to a rising number of deaths caused by COPD. Furthermore, sleep apnea is witnessed to show notable growth owing to the ill effects of untreated sleep apnea. Based on regions, North America is expected to dictate the market growth. The increasing healthcare expenditure alongside rising cases of asthma and chronic obstructive pulmonary disease is driving the market in the region. The rise in geriatric population alongside favorable reimbursement policies is boosting the presence of the market in the region. Asia-Pacific region is expected to showcase massive growth owing to rising cases of respiratory disease and air pollution. The presence of high quality healthcare systems in countries like India, China, and South Korea is expected to drive the growth of the market in the region. Prominent players of the market are ResMed Inc., Drager AG, Getinge AB, Hamilton AG, Apex Medical Corp., DeVilbiss Healthcare LLC, Teleflex Incorporated, Nonin Medical Inc., Chart Industries, Fisher & Paykel Healthcare Corporation Limited and Vyaire Medical.
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