Respiratory Therapeutic Devices Market Size, Growth and Share Analysis By Product (Nebulizers, Humidifiers), Technology (Electrostatic Filtration, HEPA) By Application (Asthma, COPD, Cystic Fibrosis), End Users (Hospitals, Home Care) – Global Forecast till 2023
Respiratory Therapeutic Devices Market Overview
Market Research Future (MRFR) studied the Global Respiratory Therapeutic Devices Market can expand at 10.8% CAGR by 2023. COVID 19 has created a significant demand for respiratory therapeutic devices that is observed as the chief drivers for the market. Moreover, the increase in cases of cardiopulmonary diseases, such as asthma, chronic obstructive pulmonary diseases (COPD), cystic fibrosis, and acute bronchitis among others are observed due to season change and the existing virus.
Thus, the demand for effective treatment and control of such malaise is increasing, which, in turn, is creating need for respiratory therapeutic devices. The escalation in their sales can cause the respiratory devices market to expand in the near future. The availability of different solutions to treat several types of respiratory malaise can be critical to the respiratory devices market, as suggested by MRFR findings.
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Respiratory Therapeutic Devices Market Segmentation
The segment evaluation of the global respiratory therapeutic devices market is done by application, product, technology, and end users.
The product-based segment of the respiratory therapeutic devices market are capnography, nebulizers, and humidifiers oxygen concentrators among others. The nebulizers sub-segments are human-powered nebulizer, and soft mist inhaler among others. The capnography segments are side-stream capnography, and main-stream capnography among others. The gradual increase in sales of nebulizer can support the expansion of the respiratory device market.
The technology-based segment of the respiratory therapeutic device market are HEPA filtration, electrostatic filtration, microsphere separation, and hollow fiber filtration among others. The HEPA infiltration segment can win considerable profit for the respiratory therapeutic device market.
The application-based segments of the respiratory therapeutic device market are chronic obstructive pulmonary disease (COPD), asthma, and cystic fibrosis among others. The growing prevalence of asthma and COPD can contribute to the respiratory device market growth.
The end users-based segments of the respiratory therapeutic device market are retail pharmacies, hospitals & clinics, and home care among others. Recently, the hospital segment, followed by the home care segment can earn gain traction.
Respiratory Therapeutic Devices Market Regional Analysis
COVID 19 has penetrated corners of the Americas creating a huge requirement for respiratory therapeutic devices to treat cardiopulmonary diseases. This can contribute to the expansion of the respiratory therapeutic device market in the North America region. In addition, the existence of several reputed developers in the region can promote the expansion of the regional market. The increase in healthcare expenditure by the regional governments can fuel the rise of the respiratory therapeutic device market.
In Europe, the respiratory therapeutic devices market can secure the second largest share of the worldwide market due to the existence of the healthcare infrastructure base. Increase in support from governments for funding big research & development projects to introduce effective solutions can promote the growth of EU market in the near future. In Asia Pacific, the market is expected to be the fastest growing as the COVID 19 patient populace expands. China is observed to play a pivotal role in the revenue generation of APAC respiratory therapeutic device market. In Middle East & Africa, the respiratory therapeutic devices market is also observed to surge to the penetration of effective solutions to treat the pandemic afflicted.
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Respiratory Therapeutic Devices Market Key Players
Rotech Healthcare Inc. (U.S.), Masimo. (U.S.), BD. (U.S.), F. Hoffmann-La Roche Ltd (Europe), Smiths Group Plc. (U.S.), Bayer AG (Europe), Acare Technology (Asia Pacific), and Chart Industries (U.S.), among others are some well-known companies that are operating in the respiratory therapeutic device profiled by MRFR.
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