The Latin America Respiratory Devices Market was worth USD 1,699 million in 2016 and estimated to be growing at a CAGR of 8.74%, to reach USD 2,597 million by 2021. People with respiratory disorders entail the need for respiratory devices.
Respiratory devices are medical devices that are used to aid patients who are suffering from respiratory problems and cannot attain sufficient oxygen levels to sustain life. The devices are used in chronic obstructive pulmonary diseases (COPD), a deteriorating lung disease which mainly includes chronic bronchitis, and emphysema.
The growth of the Latin America Respiratory Devices Market is mainly driven by factors such as an increase in the prevalence of respiratory diseases such as asthma and COPD, increasing disposable income, and rising aging population. However, poor accessibility of proper care, and high costs associated with the purchase and operation of such devices are the main factors hindering the growth of the market in this region.
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The Latin America Respiratory Devices market is segmented based on Type. The market for Respiratory Devices, on the basis of type, is segmented into Therapeutic Devices, Diagnostic and Monitoring Devices, and Disposables. On the basis of Therapeutic Devices, the Latin America Respiratory Devices market is segmented into BI-PAP Devices, Nebulizers, Ventilators, Resuscitators, CPAP Devices, Humidifiers, Oxygen Concentrators and Inhalers. On the basis of Diagnostic and Monitoring Devices, the Latin America Respiratory Devices market is segmented into Sleep Test Devices, Pulse Oximeter, Spirometers, Peak Flow Meters, Capnographs. On the basis of Disposables, the Latin America Respiratory Devices market is segmented into Cannulas, Filters, Masks, Tubes and Breathing Circuits. Based on End Users the Latin America Respiratory Devices market is segmented into Hospitals and Home Care.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Brazil accounts for the major part of the Respiratory Devices market in this region followed by Argentina.
Some of the major companies dominating this market are Philips Healthcare, Masimo Corporation, Covidien plc, Becton Dickinson and Company, ResMed, Inc., Fisher and Paykel Healthcare Limited, Drager, GE Healthcare, Hamilton Medical and Smiths Meidcal.
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