Asia Pacific and Latin America respiratory care devices markets expected to register high revenue growth during forecast period

Asia Pacific and Latin America respiratory care devices markets expected to register high revenue growth during forecast period

Respiratory disease includes any diseases and disorders of the airway and lungs that affect human respiration. Respiratory care devices help in the removal of mucus from the respiratory airway and improve pulmonary function.

Factors such as high prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), tuberculosis, asthma and pneumonia, rising urbanization and pollution levels, increasing incidence of pre-term births, increasing geriatric population, high prevalence of smokers, and changing lifestyle are fueling growth of global respiratory care devices market. In addition, rising demand for cutting-edge technologies, increasing per capita income and rising demand for respiratory devices in private sector hospitals and clinics, are other factors attributed to market growth.

However, lack of awareness about respiratory conditions is resulting in a large volume of the global population going underdiagnosed and undertreated. Harmful effects of certain respiratory care devices on neonates, high costs associated with the purchase and operation, and increasing sophistication of devices are other major challenges in the market.

In 2015, therapeutic devices segment accounted for largest revenue share in the global respiratory care devices market. Factors contributing to market growth include increasing tobacco smoking globally and rising pollution levels. Among the end user segments, the hospitals segment accounted for largest revenue share contribution to the global respiratory care devices market the same year. Growth of this segment is attributed to increasing investments by hospitals to purchase high-priced instruments as well as rising availability of trained professionals to operate respiratory care devices.

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North America market dominates the global respiratory care devices market and is expected to continue its dominance during the forecast period owing to increasing geriatric population and increasing respiratory disorders such as sleep apnea, asthma, lung cancer, and Chronic Obstructive Pulmonary Disorder. Asia Pacific market is expected to register high growth rates during the forecast period.

Therapeutic devices segment accounts for largest revenue share in the global respiratory care devices market. Factors contributing to market growth include increasing tobacco smoking globally and rising pollution levels. Among the end user segments, hospitals segment accounts for largest revenue share contribution to the global respiratory care devices market. Growth of this segment is attributed to increasing investments by hospitals to purchase high-priced instruments as well as rising availability of trained professionals to operate respiratory care devices.

Key players include Philips Healthcare (The Netherlands), ResMed, Inc. (U.S.), Medtronic plc (Ireland), Masimo Corporation (U.S.), and Fisher & Paykel Healthcare Corporation Limited (New Zealand) held the major share of the respiratory care devices market and will continue to dominate. Other major players operating in this market are Becton, Dickinson and Company (U.S.), Chart Industries, Inc. (U.S.), Drägerwerk AG & Co. KGaA (Germany), and Hamilton Medical AG (Switzerland).

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