Respiratory Devices Market
The respiratory care devices market absorbs a noteworthy position in the medical devices sector, as resp...
Respiratory Devices Market
The respiratory care devices market absorbs a noteworthy position in the medical devices sector, as respiratory dysfunction is amongst the most prevalent healthcare problems occurring globally, due to the growing population and industrialization. Most common respiratory disorders treated include chronic obstructive pulmonary disease, acute respiratory distress syndrome, obtrusive sleep apnea, and various other disease conditions. The global respiratory care devices market represents a dual structure, wherein novel drugs and refined equipments facilitate market growth in the developed countries, while older devices and low-end equipments continue to enjoy a strong position in developing nations.
These devices are used by respiratory care practitioners in the treatment, evaluation, monitoring, and management of patients with breathing disorders or associated cardiovascular problems. The treatment provided by respiratory therapists may include administration of oxygen, cardiopulmonary resuscitation, management of mechanical ventilators, administration of drugs to the lungs, monitoring cardiopulmonary systems, and measuring lung function. The market can be broadly segmented into the following types of devices- Respiratory Care Diagnostic Devices, Therapeutic Devices, Monitoring Devices & Disposables, and Preterm Respiratory Care Devices. Products offered by this market include inhalers, spacers, nebulizers, airway management devices, endotracheal tubes, tracheotomy tubes, nasopharyngeal catheters, nasal cannulae, airway masks, oxygen masks, pulmonary resuscitators, positive airway pressure devices, critical care ventilators, anesthesia ventilator circuits, and heated humidifier disposable reservoirs. Amongst these, oxygen equipments account for the largest market share, whereas demand is also increasing in the ventilators segment- particularly in the homecare market. Developed regions such as the US and Western Europe are established markets for ventilators and the continuously rising incidences of respiratory disorders suggest that these markets are unlikely to dwindle in the coming years.
The respiratory care devices market suffered a minor setback in the past, as the global slowdown resulted in an overall reduction of demand for medical equipments by hospitals and surgery centers. The decline was observed particularly in weighty and expensive equipments. Nevertheless, the market is said to be recovering fast owing to the strong demand for improved healthcare services, particularly in developing regions including Latin America, Asia-Pacific, and the Middle East. Apart from conventional growth drivers such as rising incidences of smoking, growing industrialization, increasing proportion of older population, growing awareness about respiratory ailments, and desire for an active lifestyle amongst the old, other factors driving growth in this market include advancement in technology, growing need for simplified and easy-to-use equipments, and growth in improved homecare solutions.
The US forms the largest market for respiratory care devices. Developing countries in Asia-Pacific and Latin American regions are also emerging as fast growing regions. Encouraged by the rising awareness, improved standard of living, and ease of availability of sophisticated healthcare facilities, the Asia-Pacific market for respiratory care devices is expected to record tremendous growth in the coming years.