The Global Breathing Disorders and Treatment Market for breathing disorders treatment is growing a healthy growth due to a host of factors such as increasing prevalence of respiratory disorders such as chronic obstructive pulmonary disease and asthma.
Additionally, increasing industrialization subsequently rising pollution levels, and rising demand for well-developed healthcare sector is pushing the growth of breathing disorders treatment market. Similarly, growth strategies such as new product innovation, large pipeline products, and merger & acquisition activities taken up by major market players are likely to enhance the growth of breathing disorders treatment market.
According to American Academy of Allergy Asthma & Immunology, prevalence of asthma is likely to grow by 100 million by 2025.This rising case of asthma is likely to enhance the growth of breathing disorders treatment market.
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Key Market Players:
There are various market players operating in the global breathing disorders treatment market. Some of the key market players in this market are: PhiliResMed Inc., Masimo Corporation, Becton, Dickinson and Company, Philips Healthcare Chart Industries, Inc., Medtronic plc, and Hamilton Medical AG.
Philips Healthcare is a leading health technology company engaged in the manufacture and production of diagnostic imaging devices, resuscitation products, data management systems, image-guided therapy and health informatics. The company has focused on various inorganic and organic growth strategies to enhance its product portfolio and gain foothold in various geographies. For instance in the year 2017, Philips Healthcare acquired Respiratory Technologies Inc., maker of electronic-pulsating vests that aims to fight respiratory diseases. These acquisitions increases the firm’s customer base and widens the company’s already existing wide product portfolio. Additionally, in 2016, Philips Healthcare launched Wisp Pediatric Nasal Mask, a non-invasive ventilation mask. These product launches enhances the firms customer base and widens its geographic presence.
Headquartered at Minneapolis, Medtronic, offers a wide range of device based medical products. The firm offers its products all over the world. The firm has focused on various growth strategies such as expansions, product launches, acquisition and collaboration to enhance its product portfolio and widen its foothold in various geographies. For instance in 2014, the firm launched Nellcor Respiration Rate System in the European region. Additionally, in 2014, Medtronic launched NuVent(TM) EM Sinus Dilation System, an ENT navigation system. This product launches enhances Medtronic’s product portfolio and business across different geographies.
Breathing Disorders and Treatment Market Regional Analysis:
Geographically, breathing disorders treatment market is segmented into four key regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa. Globally, the U.S. is the largest market for breathing disorders treatment owing to increasing incidence of asthma and chronic obstructive pulmonary disease (COPD), growing industrialization and rising pollution, growing adoption for self-administration, and increasing need for technological advancements. Similarly, increasing healthcare spending is likely to grow the demand for breathing disorders treatment market. Similarly, according to CMS (Centres for Medicare and Medicaid Services) U.S. health care spending increased 4.3 percent to reach USD 3.3 trillion per person in 2016.
Europe accounts for the second largest market due to advanced technology, new product innovation, growing prevalence of chronic obstructive pulmonary disease, and rising healthcare expenditure. According to a recent survey around 1,410 people died of asthma in UK. Additionally, National Health Services spends around USD 1 billion yearly for treatment of asthma. According to a UCB Institute of Allergy in Belgium, rates in prevalence of asthma has doubled in ten years.
Asia pacific region is expected to be fastest growing region in breathing disorders treatment market owing to its growing population and increasing healthcare expenditure and demand for new treatment options fuel the market growth.
On the other hand, the Middle East & Africa is expected to witness limited growth due to limited access to the healthcare resources and lack of awareness about rare diseases. In the Middle East, the growth of the market is driven by increasing availability new diagnostic and treatment methods.
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