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Respiratory Care Devices Market | Worldwide Industry Study Analysis with Forecast to 2025

November 16th, 2021 TMR Research Releases

Respiratory care devices are medical devices focusing on the diagnostics, treatment, control, and management of patients suffering from disorder in cardiopulmonary system. These devices are known to be reliable in providing enhanced care to patients suffering from acute and chronic respiratory abnormalities. They are primarily used as therapeutic devices, diagnostic devices, monitoring devices, and consumables and accessories. Their demand is high among end users such as hospitals, ambulatory care, and home care.

Global Respiratory Care Devices Market: Key Trends

The increasing prevalence of chronic obstructive pulmonary diseases (COPD) and other respiratory diseases such as asthma and tuberculosis is the primary factor augmenting the global respiratory care devices. The growing global population of aged people is creating a staggering demand for respiratory care devices owing to the fact that they are more susceptible to respiratory disorders. Moreover, skyrocketing pollution levels and rising incidence of tobacco smoking are working in favor of the respiratory care devices market.

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However, the lack of reimbursement policies is limiting the widespread adoption of respiratory care devices. The low-cost products offered by local manufacturers are creating pricing pressure on international players. As a result, large manufacturers are selling their products at competitive pricing, which in turn is adversely affecting the overall revenue generation of the market

Global Respiratory Care Devices Market: Market Potential 

Various studies indicate that over 1 billion people across the world suffer from respiratory challenges such as CHF (congestive heart failure), COPD (chronic obstructive pulmonary disease),   and asthma, with about 80 million cases in the U.S. alone. The high prevalence is creating a pressing need for reliable breathing monitoring, training, and therapeutic devices for these patients in the hospitals and at home. This is prompting players to develop technologically advanced devices that can be cost-effective and improve patient outcomes across the continuum of care at home and hospitals. For instance, in November 2016, ADM Tronics Unlimited Inc. entered into a strategic agreement with QOL Devices Inc., regarding new respiratory training and therapy platform trademarked “Alvio™” by QOL. Alvio is based on cloud technology and will be designed for use in non-regulated respiratory training applications and medical respiratory indications. Therefore, the birthing of advanced products in the near future is likely to revolutionize the global respiratory devices market. 

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Global Respiratory Care Devices Market: Geographical Segmentation

North America and Europe will account for a substantial cumulative share in the market throughout the review period. The presence of highly developed healthcare infrastructure and high technical acumen among end users to operate technologically advanced respiratory devices are contributing to the growth of the market in the regions. The widening base of patients suffering from respiratory diseases due to the increasing adoption of smoking and drinking habits is also fuelling the growth of these regions.

Moreover, the growing geriatric population and rising funding by governments in the healthcare sectors are supplementing the growth of Europe and North America. On the other hand, Asia Pacific is expected to rise at a tremendous CAGR during the same period. The robust growth of the healthcare sector along with increasing expenditure on healthcare is one of the primary factors propelling the growth of the region. The rising per capita income and burgeoning demand for cutting-edge technologies are translating into the greater uptake of respiratory care devices in the region.

Global Respiratory Care Devices Market: Competitive Landscape

The majority of players in the global respiratory care devices market are focusing towards expanding their shares through product launches and technological advancements. The trend is likely to render the market a highly competitive arena in the near future. Some of the prominent companies operating in the market are Philips Healthcare, Medtronic Plc., Fisher and Paykel Healthcare Limited, Drägerwerk AG & Co. KGaA, CareFusion Corporation, Becton, Dickinson and Company, and Hamilton Medical AG.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

About Us:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

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Rohit Bhisey
Head Internet Marketing
Tel: +1-415-520-1050

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