The global respiratory care devices market is projected to reach USD 24.07 Billion by 2021, at a CAGR of 9.7% from 2016 to 2021.

The 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 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.

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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

Based on type, the respiratory care devices market is segmented into therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment is sub-segmented into PAP devices, masks, ventilators, nebulizers, humidifiers, oxygen concentrators, inhalers, reusable resuscitators, nitric oxide delivery units, and oxygen hoods. The monitoring devices segment is sub-segmented into pulse oximeters, capnographs and gas analyzers. The diagnostic devices segment is sub-segmented into spirometers, polysomnography devices (PSG), peak flow meters and other diagnostic devices.

The consumables and accessories segment is sub-segmented into disposable masks, disposable resuscitators, tracheostomy tubes, nasal cannulas and other consumables and accessories. In 2015, therapeutic devices accounted for the largest share of the global respiratory care devices type market. The rising incidence of chronic diseases and growing geriatric population contributes to their largest share in respiratory care devices type market.

Based on disease/disorder, the respiratory care devices market is segmented into chronic obstructive pulmonary disease (COPD), sleep apnea, asthma, infectious diseases and other diseases/disorders. The other diseases/disorders segment includes lung cancer, pulmonary fibrosis, pulmonary embolism, cystic fibrosis, and allergies. In 2015, COPD accounted for the largest share of the global respiratory care devices market, by disease/disorder. The factors contributing to the growth of this technology segment includes increasing tobacco smoking prevalence and rising pollution levels globally.

Furthermore, on the basis of end users, the market is classified into hospitals, home care and ambulatory care. The hospitals companies segment accounted for the largest share in the global respiratory care devices market, by end users. The factors contributing to the growth of this end user segment includes the financial capabilities of hospitals to purchase high-priced instruments as well as the availability of trained professionals in hospitals to operate respiratory care devices.

Geographically, the global respiratory care devices market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. The markets in Asia-Pacific and Latin America are expected to register high growth during the forecast period owing to the rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, low labor costs, favorable regulatory environment and expansion of private-sector hospitals to rural areas in various APAC and Latin American countries.

Some of the prominent players in the global market include Philips Healthcare (The Netherlands), ResMed Inc. (U.S.), Medtronic plc (Ireland), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), Becton, Dickinson and Company (U.S.), Chart Industries, Inc. (U.S.), Drägerwerk AG & Co. KGaA (Germany), and Hamilton Medical AG (Switzerland).

Target Audience:

• Respiratory care device manufacturers and distributors
• Healthcare institutions (hospitals, laboratories, medical schools, and outpatient clinics)
• Research institutes
• Contract manufacturing organizations (CMOs)
• Government associations
• Market research and consulting firms
• Venture capitalists and investors

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