Boston, MA, August 07, 2016 --(PR.com
)-- Rising incidences of respiratory diseases, urbanization and increasing pollution, increasing the prevalence of tobacco usage, increasing preterm birth incidence, rising use of non invasive ventilators are some of the drivers of the market. Growing demand for home care therapeutic devices, a huge pool of undiagnosed sleep apnea patients and increasing COPD leading to increasing the requirement of ventilators are some of the opportunities that are propelling the growth of the market. However, lack of awareness of the disease, large underdiagnosed and undertreated population, harmful effects of certain devices on neonates are some of the restraints of the market. Availability of low-cost products from local manufacturers, stringent regulations for approval and mandatory licensing for practitioners and reimbursement issues are some of the treats of the market.
The respiratory care devices global market by products is segmented into therapeutics, monitoring, diagnostics and consumables. Therapeutics devices are divided into humidifiers, nebulizers, oxygen concentrators, positive airway pressure devices (PAP), resuscitators, ventilators, inhalers, diaphragm pacing and others. Humidifiers are of two types name active and passive humidiers. Jet, ultrasonic, mesh and smart are the types of nebulizers. Oxygen concentrators are of two type’s namely stationary oxygen concentrators and portable oxygen concentrators. Continuous Positive Airway Pressure (CPAP) devices, Automatic PAP (APAP) devices and Bi-level PAP (BPAP) devices are the types of Positive airway pressure device (PAP). Resuscitators are segmented as manual and gas-powered resuscitators. Ventilators are segmented as invasive ventilators and noninvasive ventilators. Inhalers are segmented as dry powder inhalers and meter dose inhalers. Others include positive expiratory pressure (PEP), nitric oxide delivery units, oxygen hoods, flutter valve devices, nasal cornets, intrapulmonary percussive ventilators, cardiopulmonary resuscitation emergency kits and high-frequency chest wall oscillation device (HFCWO). New technology inhaler called as the smart inhalers are designed to improve the management of the lung disease by helping in the reminding daily medication for patients and keep the disease under control. These devices are used as an aid for the metered dose inhalers and are expected to drive the market. Metamason, a healthcare-focused 3D printing company, has raised $3 million in seed funding to further develop Respere, a 3D-printed CPAP mask designed for obstructive sleep apnea by 3P Equity Partners.
Monitoring devices are segmented into pulse oximeters, capnographs and gas analyzers. Pulse oximeters are further segmented into finger pulse oximeter, handheld pulse oximeter, wrist pulse oximeter and table top pulse oximeters. On June 2016, Nonin Medicals (U.S.) launched a smart wireless finger pulse oximeter called NoninConnect Elite Model 3240 Bluetooth Smart wireless finger pulse oximeter to measure the arterial blood oxygen saturation and pulse rate.
Diagnostic segments are segmented into spirometers, peak flow meters and polysomnography (PSG) devices. Consumable products are segmented into masks, tracheostomy tubes, nasal cannulas and others. Masks are segmented into nasal masks, full face masks, nasal pillow masks and oral /nasal mask. Other consumables include suction and aspirator pump, head strap, nose clips, mouthpieces, corrugated tubing and oxygen pressure reducers. Therapeutic respiratory care market holds the largest market revenue of and is expected to grow at a high single-digit CAGR from 2015 to 2022.
The respiratory care devices global market by applications is segmented into nine major divisions such as acute respiratory distress syndrome, asthma, chronic obstructive pulmonary disease, cystic fibrosis, pulmonary fibrosis, pneumonia, respiratory failure, sleep apnea, lung cancer, tuberculosis and others. Chronic obstructive pulmonary diseases are segmented into chronic bronchitis and emphysema. The Asthma holds the largest market and COPD is expected to be the fastest growing segment with double-digit CAGR from 2015 to 2022.
Hospitals and home health care are the end-users of the respiratory care devices market. Among these, Hospital accounted for revenue for highest revenue at 2015. Home health care is expected to grow at fastest CAGR as home treatment is less expensive and due increasing pricing pressure of reimbursement payers.
The Respiratory care devices global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. North American region commanded the largest revenue market in 2015 due to reimbursement schemes, rising healthcare expenditure, better accessibility to healthcare facilities has led the market growth in this region. However, Asia- Pacific region is expected to grow at the highest CAGR from 2014 to 2022 owing to the rapidly ageing population and increasing awareness of healthcare in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the technological advancements such as cloud technology, Wearable patient monitoring devices, healthcare mobile app and telemedicine, cognitive computing and Image analytics are set to improve the adoption and reach of healthcare analytics tools.
Major players in the respiratory care devices global market are Becton, Dickinson and Company (U.S.), Chart Industries (U.S.), Drager Medical AG & Co. KGaA (Germany), Fisher & Paykel Healthcare (New Zealand), GE Healthcare (U.S.), Invacare Corporation (U.S.),Getinge Groups (Sweden), Medtronic (Ireland), Philips Healthcare (U.S.) and ResMed, Inc. (U.S.).