The latest trending report published by Crystal Market Research titled, Therapeutic Respiratory System (ITS) Market, approximates that the Therapeutic Respiratory System market size is estimated to flourish at a significant CAGR in the future, and this is attributed to the escalation in need for this product across the globe along with novel innovations in the market.
Market Scenario:
In 2012, the global therapeutic respiratory devices market was evaluated around USD 6.35 billion and is expected to reach approximately USD 19.48 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 11.87% over the forecast period. Major drivers of the global market are the growing occurrence of target disorders like COPD, sleep apnea, and asthma, demand for early disease diagnosis and rising awareness levels amongst the patients. According to the WHO approximates COPD is anticipated to be the third major cause of death globally. As per the statistics issued by the National Sleep Foundation, approximately 40 million Americans were suffering from chronic sleep disorders during 2012. Furthermore, the occurrence of obstructive sleep apnea was around 12 million in the United States with the analysis rate of approximately 1 out of 22. The incidence of this disorder is anticipated to constantly increase over the forecast years, due to the rising occurrence of hypertension, obesity, and cardiovascular diseases. Also, technological innovations linked with these systems and increasing healthcare spending levels worldwide are accountable to estimated boost for the global therapeutic respiratory devices market growth during the projected period.
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In 2014, the North American regional therapeutic respiratory devices industry was the major and was evaluated at USD 2.92 billion. The existence of large geriatric population, as well as rising occurrence of chronic diseases, is expected to fuel the regional market growth during the forecast years. Furthermore, regional market growth is sustained by the existence of coherent reimbursement guidelines in the United States like Medicare and Medicaid assisted by healthcare centers and CMS accounts. The improvement in medical infrastructure, increasing awareness levels regarding healthcare, and a rising number of outpatient surgical procedures is expected to make sure the demand sustainability during the forecast years. The Latin American and Asia-Pacific markets are projected to witness rapid growth during the next few years. The increasing number of patients having respiratory disorders as well as the existence of high unfulfilled healthcare needs is anticipated to serve as major growth drivers.
Key Players:
- Philips Healthcare
- GE Healthcare
- Smiths Medical
- CareFusion Corporation
- Covidien Plc.
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The global therapeutic respiratory devices market is segmented as follows:
By Product
- Nebulizers
- Compressor-based nebulizers
- Piston-based hand-held nebulizers
- Ultrasonic nebulizers
- Humidifiers
- Heated humidifiers
- Passover humidifiers
- Integrated humidifiers
- Built-in humidifiers
- Stand-alone humidifiers
- Oxygen concentrators
- Fixed oxygen concentrators Portable
- oxygen concentrators
- Positive airway pressure devices
- Continuous positive airway pressure devices
- Auto-titrating positive airway pressure devices
- Bi-level positive airway pressure devices
- Ventilators
- Adult ventilators
- Neonatal ventilators
- Gas Analyzers
- Capnographs
By Technology
- Electrostatic filtration
- HEPA filter technology
- Hollow fiber filtration
- Microsphere
By Filters
- Nebulizer filters
- Humidifier filters
- Positive airway pressure device filters
- Oxygen concentrators filters
- Ventilator filters
By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
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