San Francisco, California, January 11, 2018: A recent market research report by TMR Research covers a detailed overview of the global market for respiratory care devices. The comprehensive report is titled “Global Respiratory Care Devices Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025.” The report uncovers the various factors that could prove to be highly beneficial for the overall development of the market and its segments in the next few years. The report also presents a detailed account of the present growth dynamics of the market and projects its growth prospects over the period between 2017 and 2025.
The report states that the market will embark upon a healthy growth path over the said period. Factors expected to work in favor of the market include the vast rise in rate of incidence of a variety of respiratory conditions such as tuberculosis, asthma, and chronic obstructive pulmonary diseases (COPD), rising geriatric population, and increased expenditure on healthcare. The rise in the global geriatric population will benefit the market as geriatrics are more prone to respiratory disorders. Moreover, the vast rise in the addiction to smoking and tobacco and burgeoning pollution levels are also driving the market.
However, certain factors such as the lack of necessary healthcare infrastructure, and non-encouraging reimbursement policies could restrain the overall market to a certain extent. Moreover, the availability of low-cost products, which are produced by regional players, across cost-sensitive regional markets are intensifying cost wars. This could adversely affect the overall revenue opportunity for international players.
Geographically, the markets for respiratory care devices in North America and Europe are expected to collectively account for a significant share in the in the global market over the report’s forecast period. These well-developed markets with witness promising growth opportunities in the next few years owing to the widening patient base spanning a number of respiratory conditions, a vast rise in drinking and smoking habits, and highly developed healthcare infrastructures that allow for the easy uptake of advanced respiratory devices.
Furthermore, the rising population of geriatrics in these regions and increased government funding in the healthcare industry are also expected to foster the growth prospects of the respiratory care devices market in North America and Europe. The market in Asia Pacific is also expected to expand at a plausible pace over the report’s forecast period. The robust growth prospects of the Asia Pacific market are chiefly attributable to the vast efforts put into the development of the healthcare infrastructure of emerging economies, increased expenditure on healthcare, and the massive rise in demand for advanced technologies. The rising disposable incomes of the population in several emerging economies in the region is also translating into the increased uptake of cutting-edge respiratory care devices.
The report also comprises a comprehensive account of the competitive dynamics of the global respiratory care devices market. Covering the business profiles several leading companies in the market, a thorough assessment of recent developments, and details regarding the most popular growth strategies adopted by leading players to strengthen their positions in the market, the report makes for a compelling guide for readers who have their interests vested in the market.
Some of the leading vendors in the market Medtronic Plc., Philips Healthcare, CareFusion Corporation, Drägerwerk AG & Co. KGaA, Becton, Dickinson and Company, Fisher and Paykel Healthcare Limited, and Hamilton Medical AG.
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