Global Respiratory Devices Market: Snapshot
The global respiratory devices market features fragmentation with the presence of numerous players of varying sizes. Small and medium size companies operate in niche market segments – a distinguishing feature of the market. The focus of leading players in the market is to leverage new technologies in order to upgrade their existing products as well as to expand their product portfolios.
The increasing prevalence of COPD, asthma, and other respiratory conditions is the key growth driver of the global respiratory devices market. These conditions are related to rising pollution level, changing environmental conditions, and a large population of tobacco users and smokers. As per the WHO, COPD accounted for 3 million deaths globally in 2015, which accounted for 5% of total deaths across the world in the same year.
As per a report by Transparency Market Research, the global respiratory devices market is expected to become worth US$22.1 bn by the end of 2025 expanding at a CAGR of 6.1% from 2017 to 2025.
Therapeutic Devices Product Segment to Display Robust Growth through 2025
Product-wise, the segments into which the global respiratory devices market is segmented in this report are therapeutic devices, respiratory disposables, and monitoring and diagnostic devices. The segment of therapeutic devices is further segmented into humidifiers, positive airway pressure, nebulizers, oxygen concentrators, reusable resuscitators, ventilators, inhalers, and others. The positive airway pressure segment within therapeutic devices is predicted to display an outstanding 7.7% CAGR between 2017 and 2025. The segments of oxygen concentrators and ventilators are also expected to contribute substantially to the growth of therapeutics devices segment vis-à-vis revenue.
Tracheostomy tubes and reusable resuscitators within respiratory disposable segment majorly contribute to the growth of the segment. The diagnostic and monitoring devices segment is mainly driven by the growth of polysomnography devices.
The application segments into which the global respiratory devices market is segregated in this report are COPD, asthma, obstructive respiratory syndrome, respiratory distress, cystic fibrosis, and pneumonia. Of them, asthma is the application leading segment of respiratory devices market. This is followed by COPD mainly due to rising pollution level and an increasing number of smokers. As per the Global Asthma Report, by 2014, asthma has affected approximately 334 million individuals of all age globally.
Cystic fibrosis application segment is also a significant contributor to the global respiratory devices market. In the U.S., approximately 1,000 new cases of cystic fibrosis are diagnosed each year. In Europe, the incidence of cystic fibrosis is 1 every in 2000-3000 newborns.
Geographically, the global respiratory devices market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Asia Pacific to Clock 6.5% CAGR due to Increasing Incidence of Respiratory Diseases
North America, amongst all, stood as the leading regional market in 2016. The region is expected to hold on to its lead position until 2025. As per statistics of the Centers for Disease Control and Prevention, over 16 million people in the U.S. are affected by respiratory disorders such as lung cancer, COPD, and heart diseases due to smoking. According to data of the U.S. Department of Health National Heart, Lung, and Blood Institute, every year almost 2.5 million to 3.0 million patients in the U.S. require oxygen therapy.
Asia Pacific, powered by China and India, is expected to display an impressive 6.5% CAGR over the forecast period between 2017 and 2025. Increasing pollution level due to rampant industrialization and urbanization are key factors behind increasing prevalence of COPD and other respiratory disorders in these countries.
Some of the key companies in the global respiratory devices market are Chart Industries Inc., Koninklijke Philips N.V., Resmed Inc., GE Healthcare, Becton, Dickinson and Company, Teleflex Incorporated, Medtronic plc., Smiths Medical, Drägerwerk AG & Co KGaA, Fisher & Paykel Healthcare Limited, and Getinge AB.
Global Respiratory Devices Market: Overview
Respiratory devices are used by patients suffering from COPD and other respiratory diseases. Patients having low level of oxygen in their blood, patients suffering from injury, asthma, COPD, trauma, unconsciousness, surgery, during anesthesia are assisted with respiratory devices in order to get sufficient oxygen supply. Respiratory devices are used for different purposes such as few are used for direct supply oxygen, few are used to maintain the moisture in the room where patients are on ventilators, few are used to monitor the CO2 expelled during breathing, some are used for the administration of medicines.
Global Respiratory Devices Market: Scope of Study
The market report comprises an elaborated executive summary, which includes market snapshot that provides information about various segments of the market. It also provides information and data analysis of the market with respect to market segments based on product type, application and geography. The market overview section of the report analyzes market dynamics such as drivers, restraints and opportunities that influences the global respiratory devices market in the current and future scenario.
Market share analysis among the market players is analyzed to signify the contribution of these players in the market in terms of percentage share. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market. Based on geography, the market has been analyzed for major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The study also covers detailed country analysis contributing majorly in the respiratory devices market.
Global Respiratory Devices Market: Market Segmentation
The global respiratory devices market is segmented by product type, application and geography. By product type the global respiratory market segmented into therapeutic devices, respiratory disposables and Monitoring and Diagnostic Devices. The therapeutic devices are further segmented into humidifiers, nebulizers, positive airway pressure, oxygen concentrators, reusable resuscitators, ventilators, inhalers and others. The other segment masks, nitric oxide delivery units, oxygen hoods. The respiratory disposables are further segmented into disposable masks, disposable resuscitators, tracheostomy tubes and oxygen cannula. Monitoring and Diagnostic Devices are further segmented into Pulse Oximeters, capnographs, spirometers, peak flow meters, polysomnography devices and gas analyzers. According to application, the global respiratory devices market is segmented into COPD, asthma, obstructive sleep apnea, respiratory distress, cystic fibrosis and pneumonia.
In terms of geography the global respiratory devices market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. The research is a combination of primary and secondary research, conducted for understanding and arriving at trends, used to forecast the expected revenue of the respiratory devices market in the near future. Primary research formed the bulk of our research efforts with information collected from in-depth interviews and discussions with a number of key industry experts and opinion leaders. Secondary research involved study of company websites, annual reports, press releases, investor presentations, analyst presentation and various international and national databases. The report provides estimated market size in terms of US$ Mn and volume (No. of Units) for each product type, application and geography for the period 2015 to 2025, considering the macro and micro environmental factors. The revenue generated from each product was calculated by considering number of products used in the procedures and their market demand as per their use, prevalence rate of disease, number of product launched, annual revenue generated by products of each sub segment, trends in industry, end user trend, and adoption rate across all the geographies.
Global Respiratory Devices Market: Competitive Landscape
The report also profiles the major players in the market and provides various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players operating in the global respiratory devices market are Chart Industries, Inc., Koninklijke Philips N.V., Resmed, Inc., GE Healthcare, Becton, Dickinson and Company, Teleflex Incorporated, Medtronic plc., Smiths Medical, Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, Getinge AB and others.
The global respiratory device market has been segmented as follows:
Respiratory Device Market, by Product Type
- Therapeutic Devices
- Positive Airway Pressure Devices
- Oxygen Concentrators
- Reusable Resuscitators
- Respiratory Disposables
- Disposable Masks
- Disposable Resuscitators
- Tracheostomy Tubes
- Oxygen Cannula
- Monitoring and Diagnostic
- Pulse Oximeter
- Peak Flow Meters
- Polysomnography Devices
- Gas Analyzers
Respiratory Device Market, by Application
- Obstructive Sleep Apnea
- Respiratory Distress Syndrome
- Cystic Fibrosis
Respiratory Device Market, by Geography
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- Rest of MEA