The global respiratory care device market is expected to reach an estimated $15.8 billion by 2022 and is forecast to grow at a CAGR of 7.7% from 2017 to 2022.
The future of the global respiratory care device market looks promising with opportunities in the hospital and home healthcare devices. The major drivers for the growth of this market are increasing prevalence of respiratory diseases, increasing geriatric population, tobacco use, and rising pollution levels.
Emerging trends, which have a direct impact on the dynamics of the industry, include the high adoption for home healthcare products, and improvement in mask fits.
Respiratory care device companies profiled in this market report include ResMed Inc., Meddtronic PLC, Koninklijke Philips N.V.,General Electronics, and Masimo Corporation are among the major suppliers of respiratory care devices.
On the basis of comprehensive research, the author forecasts that the monitoring device segment is expected to show above average growth during the forecast period.
Within global respiratory care device market, therapeutic device is expected to remain the largest segment by device type. Rising prevalence of tobacco use, pollution levels, and the high prevalence of respiratory disease are the major driving forces that spur growth for this segment over the forecast period.
The North America is expected to remain the largest region due an aging population and increasing respiratory diseases, like sleep apnea, asthma, lung cancer, COPD (Chronic Obstructive Pulmonary Disorder).
The study includes a forecast for the global respiratory care device market by device type, end use, product, and region, as follows:
Respiratory care device market by device type [Value ($ Million) from 2011 to 2022]: