DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Respiratory Care Devices Market by Product (Therapeutic (Ventilator, Mask, PAP Device, Inhaler, Nebulizer), Monitoring (Pulse Oximeter, Capnograph), Diagnostic, Consumables), End User (Hospital, Home Care), Indication - Global Forecast to 2021" report to their offering.
The respiratory care devices market is expected to grow at a lucrative CAGR of 9.7% from 2016 to 2021, to reach USD 24.07 billion by 2021 from USD 15.14 billion in 2016.
Market growth can be attributed to a number of factors such as high prevalence of respiratory diseases, rapid growth in the aging population, the high prevalence of smoking, rising urbanization and pollution levels, increasing incidence of preterm births, and lifestyle changes.
The rapid developments in emerging markets such as Asia-Pacific and Latin America and the growing demand for point-of-care (POC) diagnostic devices are expected to provide significant growth opportunities for players operating in the respiratory care devices market in the coming years. The rising demand for enhanced portable devices, growing demand for multimodal ventilators and focus of market players on expanding their geographic presence are the key trends of this market.
However, the lack of awareness of respiratory conditions leading to a large underdiagnosed and undertreated population and the harmful effects of certain respiratory care devices on neonates are the major challenges in this market.
Key Market Dynamics
Market Drivers
- Rapid Growth in Geriatric Population
- Rising Prevalence of Respiratory Diseases
- Increasing Incidence of Preterm Births
- Urbanization and Growing Pollution Levels
- High Prevalence of Tobacco Smoking
- Changing Lifestyle
Market Restraints
- Reimbursement Concerns
- Availability of Low-Cost Products From Local Manufacturers
Market Opportunities
- Growing Demand for Home Care Therapeutic Devices
- High Growth in Developing Countries Across APAC and Latin America
- Point-Of-Care Diagnostics
Market Challenges
- Lack of Awareness and Large Underdiagnosed and Undertreated Population
- Harmful Effects of Certain Devices on Neonates
Industry Trends
- Rising Demand for Enhanced Portable Devices
- Focus of Market Players on Expanding Their Geographic Presence
- Growing Demand for Multimodal Ventilators
Companies Mentioned
- Airing
- Becton, Dickinson and Company
- Chart Industries
- Drägerwerk AG & Co. KGaA
- Expand-A-Lung
- Fisher & Paykel Healthcare
- Hamilton Medical
- Invacare
- Masimo
- Medtronic
- Philips Healthcare
- Resmed
- The Charles Stark Draper Laboratory
For more information about this report visit http://www.researchandmarkets.com/research/pjt7ph/respiratory_care
