The global respiratory care devices market is predicted to attract a whole lot of demand with the increase in the incidence of respiratory diseases such as pneumonia, tuberculosis, chronic obstructive pulmonary disease (COPD), and asthma. A report by Transparency Market Research (TMR) provides a detailed account of how the market could take advantage of certain factors promising growth in the near future. It bears the title “Respiratory Care Devices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.” The market could be segregated according to three categories, viz. end user, indication, and device.
Get Report Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=39350
Increase in preterm births, surge in tobacco smoking, rising pollution levels, and aggressive increase in urbanization could be other factors helping the world respiratory care devices market to see growth during the completion of the forecast tenure. The growth of the market could also be boosted on the back of specialty clinics and private hospitals increasing the demand for respiratory care devices. Another factor that could contribute to market growth is the elevating demand for advanced technologies. Consumers with a rise in their disposable income may want to go for modern respiratory care devices.
However, the demand for respiratory care devices is anticipated to be hampered due to their expensive cost and the large size of undertreated and underdiagnosed patients with respiratory disorders. Nevertheless, there could be opportunities available in the market helping players to increase their growth in the coming years.
In terms of end user, the world respiratory care devices market could be classified into home care, ambulatory care, and specialty clinics and hospitals. Among these possible segments, specialty clinics and hospitals are foreseen to secure a stronger share of the market. The reason for their dominance could be investments made by hospitals in premium priced respiratory care devices and the modernization of hospital infrastructure. On the basis of indication, there could be segments such as infectious lung diseases, sleep apnea, COPD, and asthma. Owing to the progression of the disease and increase in tobacco smoking, COPD could well be a faster growing segment of the market.
By 2030, COPD is prophesied to take the third place in the list of largest death causes on the global platform. As per the World Health Organization (WHO), millions have succumbed to the disease in the recent past and even more number of people are suffering from it. By type of device, the international respiratory care devices market could be divided into consumables and accessories, monitoring devices, diagnostic devices, and therapeutic devices. Regionally, it could witness the rise of North America as a leading segment because of advanced diagnosis and promising reimbursement policies.
The international respiratory care devices market includes some of the top players such as Hamilton Medical AG, Smiths Medical, Inc., and Philips Respironics.