Respiratory Devices Market Poised for a Profitable Future as Geriatrics Mount

Maintenance of consistent supply of oxygen into a living body and negotiation of diseases that may hinder the airflow overtime are paramount for a healthy life. As a result, consistent technological advancements have been made to in the field of respiratory devices over the years and the current lot is extensively used by medical practitioners for therapeutic, diagnostic, and monitoring purposes. According to the findings of a recent business intelligence report compiled at the headquarters of Transparency Market Research (TMR), the global respiratory devices market will attain a value of US$31 billion by the end of 2026, with the demand expanding at a formidable CAGR of 6.5% during the forecast period of 2018 to 2026. 

Prevalence of COPD Generating Strong Demand

“Healthcare infrastructure has always been robust in developed countries but it has improved exponentially in emerging economies in the recent past and hospital organizations have mushroomed,” highlights the analyst of the report, pinpointing the primary source of incrementing demand for respiratory devices. These organizations are aspiring to meet the escalating demand from the prevalence of various chronic diseases such as asthma, COPD, obstructive sleep apnea, and pneumonia. Emerging economies such as India and China are heavily populated and governments are focused on providing adequate care to their citizens. 

On the other hand, the U.S. is foreseen to remain the most lucrative country-wide market for the players venturing in the respiratory devices market. In North America and European region, the percentage of geriatrics has gradually increased. People aged over 60 years are highly prone to respiratory diseases, particularly those who have spent substantial timespan in polluted city environments and have had a history of nicotine addiction.

According to the World Health Organization (WHO), over three million people die from COPDs each year and the number is consistently increasing owing to occupational lung diseases, tobacco smoking, and air pollution. Additionally, asthma continues to be a common disorder among children. 

Advent of Metered-dose Inhalers a Boon for Respiratory Devices Market

Among various therapeutic product segments including mechanical ventilators, drug delivery devices, airway clearance devices, and humidifiers – the analyst has anticipated drug delivery devices such as inhalers and nebulizers to formulate quantity of demand in the respiratory devices market in the near future. Pioneering companies have invented single-use inhalers and metered dose inhalers, which are gaining adoption among urban populations. Mechanical ventilators are also expected to remain a lucrative market segment until 2026.

The analyst has also explored the profitability of respiration monitoring devices segments, bifurcating them into pulse oximeters, spirometers, capnographs, peak flow meters, polysomnographs, and gas analyzers. Among these, pulse oximeters produced the most prominent chunk of demand in 2017, which was a reflection of growing adoption of the equipment among home care settings. Pulse oximeters are highly important for the primary diagnosis of lung function too. Application-wise, chronic obstructive pulmonary disease has been identified as the disorder that produces maximum demand, and will remain so over the course of 2018 to 2026.

The report also profiles a number of major companies that are holding prominent shares in the global respiratory devices market, including Koninklijke Philips N.V, ResMed, and Vyaire Medical, Inc., which is now acquired by Becton, Dickinson and Company.


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