Respiratory Care Devices Market – Global Forecasts to 2023
- May, 2017
- Domain: Healthcare - Medical Devices
- Get Free 10% Customization in this Report
Global Respiratory Care Devices Market by Products (Diagnostics Devices, Therapeutic Devices, Monitoring Devices, Consumables and Accessories) by End Users (Hospitals, Ambulatory Care Centers, Home Care) Drivers, Opportunities, Trends, and Forecasts: 2017-2023
Respiratory diseases are one of the world’s biggest health concerns, causing one-sixth of all deaths worldwide. It is observed that more than 35 million people suffer from some form of the respiratory disorder, and one in six deaths is caused by some kind of chronic lung disease in the US alone. Some of the chronic respiratory diseases are acute respiratory distress syndrome, asthma, chronic obstructive pulmonary disease, cystic fibrosis, pulmonary fibrosis, pneumonia, respiratory failure, sleep apnea, lung cancer, tuberculosis, and other respiratory diseases. The devices used for the diagnosis, treatment, and monitoring of these cardiopulmonary disorders are known as respiratory care devices.
Major driver of the respiratory device market is high smoking global population, which is increasing the disease burden. Smoking causes about 90% of all lung cancer deaths and 80% of all deaths from chronic obstructive pulmonary disease (COPD). It is observed that smokers are 12–13 times more likely to die from COPD than the non-smokers. A massive undiagnosed sleep apnea population is expected to provide an opportunity for the growth of the respiratory care devices market in the future.
The “Global Respiratory Care Devices Market” is estimated to witness a CAGR of 8.8% during the forecast period 2017–2023. The market is analyzed based on three segments – product types, end-users, and regions.
Factors such as rising prevalence of respiratory diseases, huge demand for enhanced portable devices, increasing geriatric population, and high prevalence of tobacco smoking are expected to drive the market growth during the forecast period. The market is witnessing the emerging trend of intelligent ventilators, portable PAP devices, smart inhalers, and nebulizers which are helping in providing real-time monitoring and transmission of data to the physicians.
The regions covered in the report are the Americas, EMEA, APAC, and Rest of the World (ROW). The Americas is set to be the leading region for the respiratory care devices market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. The markets in India, Brazil, China, and Japan are expected to grow at a rapid pace during the forecast period as the prevalence of respiratory diseases in these countries is high. Alos these countries are set to be the most attractive destinations due to the large untapped market.
Product Types Analysis:
The global respiratory care devices market by products is segmented into therapeutics, monitoring, diagnostics, and consumables. Therapeutic devices segment holds the largest share in the market with more than 65% of the total market share. Due to the better technology advancement in this segment, therapeutic devices are expected to grow at a faster CAGR during the forecast period. Among the various therapeutic devices, PAP devices are expected to grow at a high rate and occupy significant share in the market due to the huge undiagnosed population of sleep apnea. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which are defining the future of the Global Respiratory Care Devices market.
Currently, market players are developing advanced technology PAP devices for the treatment of sleep apnea. For instance, in April 2017, ResMed launched AirMini, the world's smallest CPAP machine for the treatment of sleep apnea. The PAP devices held more than half of the share of the total therapeutic respiratory care device market in 2016. The reports covers:
- Medtronic Plc,
- Fisher and Paykel,
- Becton Dickenson and Company,
- Hamilton Medical,
- Drager Healthcare GmbH,
- Chart Industries,
- Philips Healthcare,
- Maquet (Getinge Group),
- Masimo Corp.,
- GE Healthcare and other predominate & niche players.
At present, the therapeutic devices are dominating the Global Respiratory Care Devices market, and a lot of new players are focusing on developing smart devices to provide real-time end to end services and to gain future business opportunities. Many major players are launching new products to maintain their leadership in the market. Apart from this, the big players are acquiring small companies to enhance their product portfolio and retain their market leadership. For instance, in February 2016, ResMed acquired Inova Labs Inc., a privately-held company that develops and commercializes innovative oxygen therapy products. Significant investments in R&D in this market are expected to increase, and collaborations, merger & acquisition activities are expected to continue.
The report provides complete details about the usage and adoption rate of respiratory devices by various end-users and in regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives towards the respiratory devices adoption in the upcoming years along with the details of commercial devices available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.
1 Report Outline
1.1 Report Scope
1.2 Market Definitions
1.3 Research Methodology
1.4 Report Assumptions and Declarations
2 Executive Summary
3 Market Positioning
3.1 Total Addressable Market (TAM): Medical Devices Industry
3.2 Segmented Addressable Market (SAM): Respiratory Care Devices Market
3.2.1 Market Overview
3.2.2 Major Trends
3.2.3 PEST Analysis
3.3 Related Markets
4 Market Outlook
4.2 Value Chain Analysis
4.3 Market Segmentation
4.4 Porter 5 (Five) Forces Analysis
4.5 Raw Material Analysis
4.6 Patents Analysis
5 Market Characteristics
5.2 Market Segmentation
5.3 Market Dynamics
5.3.4 DRO – Impact Analysis
6 Respiratory Devices Market by Therapeutic Areas: Market Size and Analysis
6.2 Acute Respiratory Distress Syndrome (ARDS)
6.4 Chronic Obstructive Pulmonary Disease (COPD)
6.5 Cystic Fibrosis
6.7 Sleep Apnea
7 Respiratory Care Devices Market by Product Types: Market Size and Analysis
7.2 Diagnostics Devices
7.3 Therapeutic Devices
7.4 Monitoring Devices
7.5 Consumables and Accessories
8 Respiratory Care Devices Market by End Users: Market Size and Analysis
8.3 Ambulatory Care Centers
8.4 Home Care
9 Respiratory Care Devices Market by Regions: Market Size and Analysis
9.2 The Americas
9.3 The EMEA Region
9.4 The APAC region
9.5 Rest of the World
10 Competitive Landscape
11 Vendor Profiles
11.1 Medtronic Plc
11.3 Resmed Inc.
11.4 Fisher &Paykel Healthcare Ltd.
11.5 Philips Heathcare
(Overview, products/services, geographic revenues, recent developments, business focus, SWOT analysis and business strategy for all vendors)
12 Companies to Watch For
12.1 Hamlinton Medical AG
12.2 Drager Medical GmbH
12.3 Maquet Corp.
12.4 GE Healthcare
12.5 Invacare Corp.
12.6 Chart Industries Inc.
(Overview, product coverage and potential, geographic exposure, recent developments, and business strategy for all players)
TABLE 1 RESPIRATORY CARE DEVICES MARKET REVENUE BY PRODUCTS, 2016–2023 ($MILLION)
TABLE 2 RESPIRATORY CARE DEVICES MARKET REVENUE BY END-USERS, 2016–2023 ($MILLION)
TABLE 3 RESPIRATORY CARE DEVICES MARKET REVENUE BY REGIONS, 2016–2023 ($MILLION)
TABLE 4 DRO – NORTH AMERICA
TABLE 5 DRO – EMEA
TABLE 6 DRO - APAC
TABLE 7 DRO – REST OF THE WORLD
TABLE 8 OTHER PROMINENT VENDORS IN THE RESPIRATORY CARE DEVICES MARKET
TABLE 9 MEDTRONIC PLC: OFFERINGS
TABLE 10 MEDTRONIC PLC: RECENT DEVELOPMENTS
TABLE 11 BECTON DICKINSON AND COMPANY: OFFERINGS
TABLE 12 BECTON DICKINSON AND COMPANY: RECENT DEVELOPMENTS
TABLE 13 RESMED INC.: OFFERINGS
TABLE 14 RESMED INC.: RECENT DEVELOPMENTS
TABLE 15 FISHER & PAYKEL HEALTHCARE LTD.: OFFERINGS
TABLE 16 FISHER & PAYKEL HEALTHCARE LTD.: RECENT DEVELOPMENTS
TABLE 17 PHILIPS HEALTHCARE: OFFERINGS
TABLE 18 PHILIPS HEALTHCARE: RECENT DEVELOPMENTS
TABLE 19 HAMILTON MEDICAL AG: RECENT DEVELOPMENTS
TABLE 20 DRÄGER MEDICAL GMBH: RECENT DEVELOPMENTS
TABLE 21 MAQUET GMBH: RECENT DEVELOPMENTS
TABLE 22 MASIMO CORP.: RECENT DEVELOPMENTS
TABLE 23 GE HEALTHCARE: RECENT DEVELOPMENTS
TABLE 24 INVACARE CORP.: RECENT DEVELOPMENTS
TABLE 25 CHART INDUSTRIES INC.: RECENT DEVELOPMENTS
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- In-house Estimation (Based on proprietary data bases and Models)
- Market Triangulation
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