"Respiratory Care devices Market is expected to witness USD 33.74 Billion by 2025 with the CAGR of 9.1% from USD 18.34 Billion in 2018. Prevalence of respiratory diseases, growing geriatric population, increasing demand for point-for-care diagnostics and rising demand for multimodal ventilation are the driving growth factors. These devices basically perform monitoring, treatment, and diagnosis of respiratory diseases such as asthma, pneumonia, tuberculosis and obstructive pulmonary disease (COPD).
Increasing Healthcare Expenditure in Various Countries is Driving the Growth of the Respiratory Care Devices Market.
Various developed and developing countries are witnessing increasing healthcare expenditure which is the driving the respiratory care devices market. This is due to the governments of these countries are investing in improving the quality of healthcare facilities. Also the factors such as increasing healthcare spending in per capita in the developing countries and primarily on account of increasing government initiatives are expected to increase the affordability and accessibility of the treatment and diagnosis for different medical conditions are contributing in the growth of the market. Hence the increasing healthcare expenditure is a major factor fueling the growth of the market. According to Forum of International Respiratory Societies, about 489,000 deaths per year occur or more than 1300 deaths per day occur due to asthma and COPD and it affects more than 200 million people in the world, out of them 65 million peoples have moderate or severe airway disease. Hence increase in prevalence of respiratory diseases such as chronic Obstructive pulmonary disease and asthma is driving the growth of the market.
North America is dominating the Respiratory Care Devices Market.
The North America Region is dominating the market and maintains its dominance for the forecast period of time. This is due to the region has large number of manufacturers of respiratory care devices. According to Forum of International Respiratory Societies, estimated that about 235 million people suffer from asthma, more than 200 million people are suffering from chronic obstructive pulmonary disease (COPD) and according to National Vital Statistics System more than 126,000 adults in US died from COPD in 2005. Hence High prevalence of smoking and respiratory diseases, rising geriatric population and the presence of highly developed healthcare system is driving the market growth.
On the other hand the Asia Pacific region is also growing significantly and the region is at second place in the dominance this is because the region has developing health care infrastructure and rising level of pollution in several developing economies are contributing in the market growth.
North America, Europe, Asia-Pacific and other part of the world are the other diseases regions covered in this respiratory care devices market. Market of Hall Effect Sensor is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc. On the basis of country level.
Key Players for Global Respiratory Care Devices Market Reports–
Globally Manufacturers such as Philips Healthcare, ResMed Inc., Medtronic plc, Masimo Corporation, Fisher & Paykel Healthcare Corporation Limited, Chart Industries, Drager AG, Invacare Corporation, Getinge AB, Air Liquide, Hamilton Medical AG, Vyaire Medical, GE Healthcare, Nonin Medical Inc., Apex Medical Corp., Smiths Group, Omron Healthcare Inc., Allied Healthcare Products, Inc., Teleflex Incorporated, DeVilbiss Healthcare LLC and many others are contributing in to the respiratory care devices market Growth.
Philips N.V. founded in 1891 by Gerard Philips in Eindhoven and his father Frederik, with their first products being light bulbs, a Dutch multinational conglomerate. Headquartered in Amsterdam. One of the leading health technology company focused on improving people's health and betterment.
Specially deals with Healthcare, Medical Devices, Health systems, Cardiology, Healthtech, Oncology, Respiratory, Fertility, pregnancy, and Connected Care. the company started the production of carbon-filament lamps and other electro-technical products in 1892. This first factory has since been adapted and is used as a museum.
Philips highlights the importance of partnerships to advance UN Sustainable Development Goals at UNGA 75. Philips expands peripheral vascular disease portfolio with the QuickClear mechanical thrombectomy system for blood clot removal.
Masimo works making a measurable difference in the world by saving, extending and improving the lives of people of all ages, in all walks of life. It is an American manufacturer of noninvasive patient monitoring technologies based in Irvine, California. founded in 1989 by electrical engineer Joe Kiani, Headquartered in Irvine, California, United States.
Specialties in Noninvasive Patient Monitoring Technologies
News- Masimo Announces FDA Clearance of the Rad-G™ Pulse Oximeter. Masimo O3® Regional Oximetry Receives FDA Clearance for Somatic Applications and Measurement of Relative Changes in Cerebral Hemoglobin.
Medtronic plc is an American Irish-domiciled medical device company. The company was founded in 1949; 71 years ago with legal headquarters in headquartered in the Republic of Ireland and operational and executive headquarters in Fridley, Minnesota in the U.S. The company is committed to improve lives through their medical technologies, services, and solutions. cardiac and vascular, minimally invasive therapies, restorative therapies, and diabetes are the four major reporting segments of the company.
News- Medtronic Announced Partnership with The Foundry to Develop Innovative Mitral Valve Repair Technology.
Medtronic Named One of America's Most JUST Companies by Forbes and JUST Capital.
Medtronic Outlines Growth and development Strategy at Biennial Investor Day.
Fisher & Paykel Healthcare Corporation Limited is a manufacturing, designing and marketing products and systems for use in respiratory care, acute care, and the treatment of obstructive sleep apnea. The company was founded in 1934; 86 years ago by Maurice Paykel & Sir Woolf Fisher. Headquartered in East Tamaki, Auckland, New Zealand. products and systems are sold in around 120 countries globally. FPH is primarily an exporting company. The company specialists in Obstructive Sleep Apnea (OSA), Neonatal, Respiratory Humidification, Surgical Humidification, Medical Device, Infant Care, and Engineering. Company continually strive to solve real-life problems so patients can live healthier, longer, and more productive lives.
General Electric Company is an American multinational conglomerate incorporated. Headquartered in Boston, Massachusetts, United States with subsidiaries in various other countries. Founded by Thomas Edison, J. P. Morgan, Elihu Thomson, Charles A. Coffin, Edwin J. Houston. The company specialists in Oil & Gas, Healthcare, Intelligent Platforms, Renewable Energy, Transportation, Aviation, Digital, Lighting, Power, and Energy Management. PET, X-ray, CT, MRI, ECG and Ultrasound machines, Bone densitometry, Patient monitoring, Incubators and respiratory.
News- GE Healthcare to drive Edison platform from India. GE Healthcare to partner start-ups from its Edison[X] program
The Edison platform enables GE Healthcare and partners to develop, deploy, manage, secure and distribute advanced applications, services and AI algorithms.
Smiths Group plc (LSE: SMIN) is a British multinational diversified engineering business. Founded in 1851; 169 years ago by Samuel Smith. Headquarters in London, United Kingdom. Having its operations in over 50 countries and employs around 23,550 staff. The company deals with Detection sensors, Mechanical seals (wet seals and dry gas seals), Couplings, Hydrodynamic bearings, Filtration systems, Medical devices, Electronic components, Heating and ducting systems. Currently, Smiths Group has five divisions. security & defence, oil and gas, space & aerospace, general industrial, and medical technology are the specialists of the company.
Smiths Detection introduces compact X-ray scanner for versatile commercial security applications.
Key Benefits for Global Respiratory Care Devices Market Reports –
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
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25 Nov 2020