Portland, OR, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Respiratory Disposables Market by Product (Laryngoscope, Tubes, Breathing Bag, Masks, Resuscitator, and Others), Patient Group (Neonatal & Pediatric, Adult, and Geriatric), and End User (Hospitals, Nursing Homes, & Clinics; Trauma Centers; and Homecare): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global respiratory disposables industry was estimated at $1.28 billion in 2020, and is anticipated to hit $3.34 billion by 2030, registering a CAGR of 9.5% from 2020 to 2030.
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Drivers, restraints, and opportunities-
Increase in incidences of respiratory diseases affecting the respiratory system, rise in product launches of respiratory disposables, surge in the number individuals addicted to smoking, and upsurge in government initiatives for controlling pollution levels drive the growth of the global respiratory disposables market. On the other hand, higher rates of failures of disposables impede the growth to some extent. However, the emergence of COVID-19 has been beneficial to the market growth.
Covid-19 scenario-
- The outbreak of COVID-19 led to huge demand for respiratory disposables across the world, thereby boosting the market growth in several ways.
- For example, medical professionals have amplified the usage of nasal cannulas for the administration of drugs to combat the virus.
The resuscitator segment to dominate by 2030-
Based on product, the resuscitator segment accounted for nearly half of the global respiratory disposables market share in 2020, and is expected to lead the trail by the end of 2030, due to surge in the demand for resuscitators and rise in availability of resuscitators which are easy to use. The masks segment, on the other hand, would cite the fastest CAGR of 12.5% from 2020 to 2030. This is attributed to increase in the number of respiratory disorders and surge in geriatric population who are susceptible to suffer from respiratory disorders due to weakening of the immune system.
The neonatal and pediatric segment to maintain the fastest growth rate-
Based on application, the geriatric segment contributed to nearly three-fifths of the global respiratory disposables market revenue in 2020, and is anticipated to rule the roost by 2030. This is owing to rise in population of old aged people and increase in awareness regarding early therapeutics for respiratory diseases. On the other hand, the Neonatal and pediatric segment would register the fastest CAGR of 10.5% throughout the forecast period, owing to increase in the number of pre-term births and caesarean section delivery.
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North America garnered the major share in 2020-
Based on region, the market across North America held the major share in 2020, garnering more than one-third of the global respiratory disposables market. Rise in prevalence of target diseases, developments in advanced healthcare infrastructure, and presence of major market participants fuel the market growth in this province. Simultaneously, Asia-Pacific would manifest the fastest CAGR of 10.4% from 2020 to 2030. This is due to the presence of large population base, increase in awareness regarding respiratory disposables, and surge in disposable income in the province.
Key players in the industry-
- Masimo Corporation
- Chart Industries Inc.
- Air Liquide S.A.
- Medtronic Plc.
- Invacare Corporation
- Drägerwerk AG & Co. KGaA
- Smiths Group Plc. (Smith Medical Inc.)
- Fisher & Paykel Healthcare Corporation Limited
- Hamilton Medical AG
- Getinge AB
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