The report “Respiratory Care Devices Market by Product (Therapeutic (Ventilator, Mask, PAP Device, Inhaler, Nebulizer), Monitoring (Pulse Oximeter, Capnograph), Diagnostic, Consumables & Accessories), by End User (Hospital, Home Care) – Global Forecast to 2020”,the global respiratory care devices market is estimated to reach USD 21.9 Billion by 2020 at a CAGR of 9.6% during the forecast period of 2015 to 2020.
The respiratory care devices market is growing at a significant rate since the last decade. Growth in this market is mainly attributed to the high prevalence of respiratory diseases, rising aging population across the globe, high prevalence of smoking, rising urbanization and pollution levels, increasing incidences of preterm births, and lifestyle changes. However, lack of awareness and harmful effects of certain respiratory care devices on neonates are the major challenges in this market.
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In this report, the respiratory care devices market is segmented on the basis of products and end users. On the basis of products, the respiratory care devices market is segmented into therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment is further divided into humidifiers, nebulizers, oxygen concentrators, positive airway pressure (PAP) devices, reusable resuscitators, ventilators, inhalers, masks, nitric oxide delivery units, and oxygen hoods. The monitoring devices segment is categorized into pulse oximeters, capnographs, and gas analyzers. The diagnostics devices segment is subdivided into spirometers, peak flow meters, polysomnography (PSG) devices, and other diagnostic devices; while, the consumables and accessories segment is categorized into disposable masks, disposable resuscitators, tracheostomy tubes, nasal cannulas, and other consumables & accessories.
In 2014, the therapeutic devices segment accounted for the largest share of the global respiratory care devices market. The large share of this segment is mainly attributed to the rising adoption of various therapeutic devices such as nebulizers, oxygen concentrators, humidifiers, and PAP devices due to growth in the elderly population and rising prevalence of respiratory diseases.
On the basis of end users, the respiratory care devices market is bifurcated into hospitals and home care. Hospitals are the major end users of the global respiratory care devices market, owing to the financial capabilities of hospitals to purchase high-end instruments as well as the availability of trained professionals to operate respiratory care devices.
On the basis of regions, the respiratory care devices market is broadly segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Highly developed healthcare systems and rising healthcare expenditures are the major factors responsible for the large shares of North America and Europe in the global respiratory care devices market. However, the Asia-Pacific region is expected to grow at the highest CAGR, owing to the presence of a large pool of respiratory patients, increasing healthcare expenditure, rapidly developing healthcare infrastructure, increasing per capita incomes, and growing middle-class population in emerging countries of this region.
Major players in the global respiratory care devices market include Philips Healthcare (Netherlands), ResMed, Inc. (U.S.), Covidien plc (Ireland), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), and CareFusion Corporation (U.S.).
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