Global Acute Respiratory Distress Syndrome Devices Market is Anticipated to Reach US$ 651.6 Million by 2031, Garnering a 7.8% CAGR: TMR Report

Wilmington, Delaware, United States, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The acute respiratory distress syndrome devices market was estimated to have acquired US$ 311.1 million in 2021. It is anticipated to register a 7.8% CAGR from 2022 to 2031 and by 2031 the market is likely to gain US$ 651.6 million.

The elderly population is prone to a number of chronic ailments, notably diabetes, being overweight, and heart disease. They are more likely to have weakened immune systems, which increases their vulnerability to illnesses like pneumonia.

The World Health Organization (WHO) estimates that ARDS yearly affects about 150 million individuals globally. It is projected that the acute respiratory distress syndrome devices market would expand quickly in the next years due to the high frequency of ARDS.

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Market Snapshot:        

Key Findings of the Market Report

• Major manufacturers of acute respiratory distress syndrome devices are concentrating on making considerable investments in the research and development of new technologies.

• Advanced ARDS technology has the potential to enhance patient outcomes, shorten hospital stays, and save money on medical expenses.

• In the next years, it is predicted that an aging population and an increase in chronic illness cases would increase demand for ARDS devices.
  

Market Trends for Acute Respiratory Distress Syndrome Devices

• During the forecast period, the acute respiratory distress syndrome devices market is anticipated to be dominated by the hospitals end-user segment. The majority of ARDS patients receive their treatment in hospitals. These individuals frequently need to be hospitalized and closely watched, which can only be done in a hospital setting.

• The infrastructure and resources needed to enable the use of ARDS devices are available in hospitals. They have the staff members, such as medical professionals, nurses, as well as respiratory therapists, required for operating these devices. Hospitals are further able to provide the finest care for ARDS patients because to robust infrastructure.

• During the projected period, it is predicted that the diagnostic & monitoring devices type segment would have the biggest share. The management and treatment of ARDS involves the use of diagnostic and monitoring tools. In the foreseeable future, the high incidence of ARDS is projected to increase demand for these devices.

• Devices for diagnosis and monitoring track vital indicators like lung function and oxygen saturation levels. This makes it possible for medical personnel to start quick and efficient therapy. Early ARDS diagnosis and management can enhance patient outcomes and shorten hospital stays.

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Global Market for Acute Respiratory Distress Syndrome Devices: Regional Outlook

Various reasons are propelling the growth of the acute respiratory distress syndrome devices market in different countries. These are:

• During the projection period, North America is predicted to have an overwhelming share. In the near future, market growth is projected to be boosted by an increase in the prevalence of ARDS and other respiratory illnesses, an increase in healthcare spending, and the existence of large suppliers.

• For example, Remestemcel-L received Fast Track designation from the Food and Drug Administration (FDA) in December 2020 for the management of acute respiratory distress syndrome (ARDS) brought on by coronavirus illness (COVID-19). MultiStem cell treatment for the acute respiratory distress syndrome (ARDS) program received the Regenerative Medicine Advanced treatment (RMAT) designation from the US Food and Drug Administration in September 2020, according to a statement from Athersys.

• During the forecast period, the industry in the Asia Pacific market is expected to expand significantly. The region's market statistics are anticipated to increase due to the widespread incidence of respiratory illnesses, rise in the elderly population, and growing public awareness of modern ARDS devices.
  

Global Acute Respiratory Distress Syndrome Devices Market: Key Players
There are just a few significant competitors in the extremely competitive global market for acute respiratory distress syndrome. To stay competitive in the industry, market players are implementing a variety of methods such as new product releases, partnerships, and collaborations.

The following companies are well-known participants in the global acute respiratory distress syndrome devices market:

• Koninklijke Philips N.V.
• Medtronic
• Fisher & Paykel Healthcare Limited
• Drägerwerk AG & Co. KGaA
• Smiths Medical (ICU Medical)
• Hamilton Medical
• GE HealthCare
• ResMed
• Getinge AB
• Other prominent players

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Key developments in the global acute respiratory distress syndrome devices market are:

Global Acute Respiratory Distress Syndrome Devices Market Segmentation
Type

• Therapeutic Devices
  • Mechanical Ventilators
  • PAP
  • Others
• Diagnostic & Monitoring Devices
  

End-user

• Hospitals
• Specialty Centers
• Others
  

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
  

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