The Global Market for Respiratory Care Equipment and Supplies is Forecast to Reach US$21.4 Billion by 2020

Increasing Incidence of Respiratory Disorders to Drive the Market for Respiratory Care Equipment and Supplies, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Respiratory Care Equipment and Supplies market. The global market for Respiratory Care Equipment and Supplies is forecast to reach US$21.4 billion by 2020, bolstered by the rising prevalence of major respiratory disorders such as COPD and OSA; growing patient awareness and access, improving healthcare infrastructure, and technological and design innovations in respiratory care devices.

           

The increasing prevalence of chronic respiratory illnesses, such as asthma, chronic obstructive pulmonary disease (COPD), OSA, pneumonia, cystic fibrosis, and respiratory distress syndrome across the world, is a grim reality driving demand for respiratory care equipment and supplies. With COPD being one of the leading causes of mortality and morbidity, the fight to curb the growing direct and indirect costs of the disease is catalyzing growth in the global respiratory care market. Further, the burgeoning aging population, external factors such as rising air pollution levels, and unhealthy lifestyles such as smoking and inactivity, are giving rise to a growing pool of patients who require respiratory disorder diagnosis and treatment devices. Rising prevalence of comorbidities, including obesity, diabetes, cardiology disorders, strokes, hypertension, and congestive heart failures, are also contributing to this pool of patients. Growing awareness among healthcare providers and patients over the adverse outcomes of chronic respiratory illnesses is promulgating the use of respiratory care equipment and supplies.

Demand for respiratory care devices is intrinsically linked to patient access to healthcare facilities, and availability of medical insurance coverage and reimbursement. The development of innovative technologies and improvement in product design are going a long way in enhancing patient comfort and compliance with respiratory therapy devices. The growing affinity for home based healthcare due to the need for constant monitoring of chronic diseases, and high cost of hospital visits, are key factors generating demand for portable, affordable, user-friendly and automated respiratory care equipment. Demand for ambulatory or portable PSG equipment is set to rise with the increasing patient preference for alternative healthcare settings and efforts of the healthcare community to reduce costs. Smartphone apps for respiratory conditions, such as asthma, chronic bronchitis, and emphysema are being developed with the potential to disrupt market dynamics of respiratory care devices such as spirometers and polysomnography equipment.  

As stated by the new market research report on Respiratory Care Equipment and Supplies, the United States represents the largest market worldwide, supported by the growing base of baby boomers, higher levels of patient awareness, sophisticated healthcare infrastructure, and adequate medical insurance coverage. Asia-Pacific ranks as the fastest growing market with a CAGR of 91% over the analysis period, buoyed by the huge population, massively growing demand for healthcare services, improving healthcare infrastructure, rising public and personal healthcare spending, and growing popularity of healthcare tourism. PAP devices constitute the largest and fastest growing product segment in the global market. Sleep apnea remains one of the most under diagnosed sleep disorders worldwide. The rapidly mushrooming sleep testing laboratories, increasing number of sleep specialists, and availability of easy-to-use home sleep testing kits are driving the market for sleep diagnosis and therapy devices.  Given the lack of suitable alternatives, mechanical ventilators remain the mainstay of healthcare facilities across the globe. The compelling need to reduce neonatal mortality rates, demand for non-invasive ventilator therapy, and the development of novel devices with multiple functionalities and user settings are key growth drivers for ventilators and related disposables.

Major players covered in the report include Allied Healthcare Products, Bio-Med Devices Inc., CareFusion Corporation, CAIRE Inc., Compumedics Limited, Dräger Medical AG & Co. KGaA, DeVilbiss Healthcare LLC, Fisher & Paykel Healthcare Corporation Limited, GE Healthcare, Getinge Group, MAQUET GmbH & Co. KG, Hamilton Medical AG, Invacare Corporation, Itamar Medical Ltd., Medtronic PLC, nSpire Health Inc., PARI Medical Holding GmbH, Philips Healthcare, ResMed, VORTRAN Medical Technology, and Weinmann Geräte für Medizin GmbH+CCo. KG, among others.

The research report titled “Respiratory Care Equipment and Supplies: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), The Middle East & Africa, and Latin America (Brazil, and Rest of Latin America). The research report analyzes the market for  the following product segments: Spirometers;  Other Pulmonary Function Testing (PFT) Equipment;  Sleep Apnea Diagnostic Devices;  Ventilators;  Humidifiers;  Nebulizers;  PAP (positive airway pressure) Devices;  Oxygen Equipment;  Manual Resuscitators;  and Masks,  Circuits & Disposables.

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