Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Respiratory Care Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Regionreport has been added to ResearchAndMarkets.com's offering.
The global respiratory care devices market is poised for substantial growth, with projections indicating an increase from US$ 20 billion in 2024 to a staggering US$ 40 billion by the end of 2031.
Respiratory care devices play a pivotal role in the treatment, management, diagnosis, and care of patients with cardiopulmonary abnormalities. These devices are especially vital in addressing chronic obstructive pulmonary diseases (COPD), including chronic bronchitis and emphysema, which are leading causes of global mortality. The market is witnessing significant growth due to the rising incidence of chronic pulmonary obstructive diseases, technological innovations, and a robust product pipeline.
Factors Driving Market Growth
- Rising Incidence of Chronic Pulmonary Obstructive Diseases: The increasing prevalence of chronic pulmonary obstructive diseases is primarily driven by changing lifestyles and environmental factors such as rising pollution levels. The introduction of novel products and a strong pipeline of respiratory care devices are expected to create lucrative opportunities in the market.
- Growing Geriatric Population Worldwide: The global geriatric population has been steadily increasing, with more than 2 billion individuals projected to be aged 60 and older by 2050, according to the World Health Organization (WHO). The elderly are more susceptible to respiratory diseases due to weakened immune systems, driving the demand for effective healthcare solutions tailored to this demographic.
Challenges to Market Expansion
- Lack of Awareness in Developing Regions: Several developing regions have limited awareness of respiratory care devices and their benefits, hindering their adoption in these areas. Additionally, concerns regarding the potential adverse effects of these devices on neonates and excise taxes imposed by certain countries may limit sales growth.
Regional Dominance
North America is poised to dominate the global respiratory care devices market, followed by Europe. These regions benefit from highly developed healthcare infrastructures, a substantial patient pool affected by respiratory diseases due to lifestyle factors like tobacco use, and easy access to trained personnel proficient in operating advanced respiratory devices.
Key Players
Leading players in the global respiratory care devices market include Philips Healthcare (Netherlands), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), ResMed, Inc. (U.S.), Covidien plc (Ireland), and CareFusion Corporation (U.S.).
Respiratory Care Devices Industry Research by Category
By Product Type:
- Diagnostic Devices
- Therapeutic Devices
- Monitoring Devices
By End User:
- Hospitals
- Home Care
Key Topics Covered:
1. Executive Summary
1.1. Global Respiratory Care Devices Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value and Volume, 2023
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.8. PESTLE Analysis
3. Production Output and Trade Statistics, 2018 - 2023
3.1. Global Respiratory Care Devices Production Output, by Region, Value (US$ Bn) and Volume (Units), 2018 - 2023
3.1.1. North America
3.1.2. Europe
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. Middle East and Africa
4. Price Analysis, 2018 - 2023
4.1. Global Average Price Analysis, by Product Type, US$ Per Unit, 2018 - 2023
4.2. Prominent Factor Affecting Respiratory Care Devices Prices
4.3. Global Average Price Analysis, by Region, US$ Per Unit
5. Global Respiratory Care Devices Market Outlook, 2018 - 2031
5.1. Global Respiratory Care Devices Market Outlook, by Product Type, Value (US$ Bn) and Volume (Units), 2018 - 2031
5.1.1. Key Highlights
5.1.1.1. Diagnostic Devices
5.1.1.2. Therapeutic Devices
5.1.1.3. Monitoring Devices
5.2. Global Respiratory Care Devices Market Outlook, by End User, Value (US$ Bn) and Volume (Units), 2018 - 2031
5.2.1. Key Highlights
5.2.1.1. Hospital
5.2.1.2. Home Care
5.3. Global Respiratory Care Devices Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2018 - 2031
6. North America Respiratory Care Devices Market Outlook, 2018 - 2031
7. Europe Respiratory Care Devices Market Outlook, 2018 - 2031
8. Asia Pacific Respiratory Care Devices Market Outlook, 2018 - 2031
9. Latin America Respiratory Care Devices Market Outlook, 2018 - 2031
10. Middle East & Africa Respiratory Care Devices Market Outlook, 2018 - 2031
11. Competitive Landscape
11.1. By End User vs by Product Type Heatmap
11.2. Company Market Share Analysis, 2023
11.3. Competitive Dashboard
11.4. Company Profiles
- Philips Healthcare
- Masimo Corporation
- Fisher and Paykel Healthcare Limited
- ResMed, Inc.
- Covidien plc.
- CareFusion Corporation
For more information about this report visit https://www.researchandmarkets.com/r/bfo7om
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