Therapeutic Respiratory Devices Market Trends and Forecast 2016-2024
Date: 2018-09-13   Author: Rahul Sankrityayan  Category: #industry

The Therapeutic respiratory devices market to exceed USD 23 billion by 2024 as per a new research report.

Rising prevalence of lung diseases and increasing geriatric population will drive therapeutic respiratory devices market over the forecast timeframe. Furthermore, growing prevalence of chronic pulmonary disorders and increasing mortality rates due to undiagnosed and undertreated symptoms should fuel global therapeutic respiratory devices market.

Increasing demand of breathing products for other disorders such as asthma, chronic obstructive pulmonary disease, lung cancer and sleep apnea syndrome will boost the product demand. Moreover, increasing disease burden and healthcare costs owing to the aging population should propel the product demand in the coming years. Therapeutic respiratory devices market growth may be hindered by difficulty and inconvenience experienced during use, and high product cost.

Positive airway pressure devices segment will witness significant growth during the forecast period due to increasing portability and availability of customized products with additional features. Nebulizers market will grow at a substantial rate due to rising use of portable nebulizers and increasing prevalence of chronic bronchitis with signs of breathlessness in asthma patients.

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High efficiency particulate air (HEPA) filters technology dominated the industry owing to better efficiency than air purifiers with traditional HEPA filters. Furthermore, features like use of small amount condensed filter media, more clean air, better indoor air quality, low noise and energy consumption will exhibit robust growth.

Ventilator filters segment led the industry due to perfect solution for environments ranging from the military operations to emergency department, and all care environment in between. Positive airway pressure device segment will grow at a substantial rate owing to increasing prevalence of sleep apnea in middle aged group.

U.S. therapeutic respiratory device market will witness robust growth over the forecast period owing to increasing prevalence of chronic bronchitis and COPD, need for therapeutic respirational devices and growing consumer base.

Germany therapeutic respiratory devices market will grow at a substantial rate due to rising healthcare expenditure and high adoption rate. Moreover, increasing prevalence of respirational and cardiovascular diseases, obesity and hypertension will boost the industry.

Growing geriatric population, favorable reimbursement policies and health insurance system coupled with increasing government initiatives for controlling diseases will drive China therapeutic respiratory devices market. Furthermore, technological advancements in breathing devices and growing prevalence of acute respiratory syndrome should fuel the product demand.

Brazil therapeutic respiratory devices market share accounted for largest regional revenue share due to more private investments towards development of the healthcare sector and rise in elderly people with lung disorders will fuel business growth.

Some of the key market players in therapeutic respiratory devices market are CareFusion Corporation, Covidien, GE Healthcare, Smiths Medical and Philips Healthcare. Industry participants are focusing on new product developments and mergers & acquisitions for securing their market position.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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