Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Respiratory Care Devices Market by Product (Therapeutic (CPAP, Ventilator, Nebulizer, Inhaler), Pulse Oximeter, Spirometer), Indication, End-user, Key Stakeholders & Expectations, Unmet Needs, Buying Criteria, Reimbursement - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
Global Respiratory Care Devices Market Gains Momentum as Geriatric Population and Chronic Respiratory Conditions Rise. Recent research publication reveals the market for respiratory care devices is set to expand significantly.
In light of the escalating instance of respiratory disorders among an aging global populace, the latest market analysis predicts a strong growth trajectory for the respiratory care devices sector, with an anticipated market value increase from USD 21.8 billion in 2023 to USD 31.8 billion by 2028, marking a CAGR of 7.8%. The comprehensive study offers an extensive evaluation of market dynamics, encompassing product innovations, regional market expansions, and competitive developments.
Therapeutic devices, specifically ventilators, currently dominate the product segment, bolstered by the rising number of critical care beds and the growing incidence of Chronic Obstructive Pulmonary Disease (COPD) and asthma. COPD remains a principal concern as one of the leading causes of mortality worldwide, accentuating the demand for effective respiratory care.
- Ventilators spearhead the therapeutic equipment segment due to the technological advancements and robust reimbursement frameworks, particularly in developed economies.
- The COPD category reigns supreme in disease indication segments, attributed to escalating tobacco use, genetic factors, and the aging population.
- Hospitals stand as the primary end-users for respiratory care devices, given their infrastructure and expertise in managing advanced medical devices.
The Asia Pacific region promises the highest CAGR, propelled by the rapidly aging demographics and economic progress in countries like Japan, China, and India.
Market Dynamics and Key Stakeholder Insights
The publication also examines the challenges and opportunities in the market. While unmet needs in the form of advanced mobile solutions and remote monitoring capabilities present avenues for innovation, the sector also wrestles with issues like reimbursement roadblocks and high product costs.
Strategic Positioning for Market Leaders
With competitive analysis at its core, this report examines market shares, growth strategies, and product portfolios of key players, equipping stakeholders with the knowledge crucial for strategic decision-making.
Futuristic Trends and Opportunity Assessment
Market diversification and product development receive notable focus, presenting insights into potential lucrative markets, emerging product trends, and investment opportunities in the expanding field of respiratory care devices.
For industry experts, healthcare professionals, and investors seeking comprehensive understanding and analytical insight into the respiratory care devices sector, this report serves as an invaluable resource for effectively navigating the market landscape.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 449 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $21.8 Billion |
| Forecasted Market Value (USD) by 2028 | $31.8 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Companies Mentioned
- Adapthealth, LLC
- Air Liquide
- Allied Medical LLC
- Apex Medical Corp
- Baxter International, Inc.
- Drive Devilbiss Healthcare
- Drägerwerk AG & Co. Kgaa
- Fisher & Paykel Healthcare Limited
- GE Healthcare
- Getinge
- Hamilton Medical AG
- Hum Society for Homecare and Medical Technology Mbh
- Icu Medical
- Invacare Corporation
- Koninklijke Philips N.V.
- Masimo
- Medline Industries, Lp
- Medtronic
- Nihon Kohden Corporation
- Nonin
- Omron Healthcare, Inc.
- Resmed
- Rotech Healthcare, Inc.
- Teleflex Incorporated
- Vyaire Medical, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/l4ospv
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