Respiratory devices are medical devices that are used to provide cure or assist a patient who is having a problem in his/her respiratory function and cannot achieve adequate oxygen levels to maintain life. Patients with respiratory disorders such as cystic fibrosis, asthma, COPD, and ARDS require the need of respiratory devices.
Respiratory diseases are the leading cause of death worldwide. Lung infections like pneumonia and tuberculosis, lung cancer and chronic obstructive pulmonary disease (COPD) together accounted for 9.5 million deaths worldwide during 2008, which is on-sixth of the global total.
Respiratory Devices Market: Drivers and Restraints
Presently, respiratory devices global market is driven by the aging population, increase in the prevalence of respiratory disease such as asthma and COPD, and technological advancement in healthcare industry.
Respiratory devices global market is driven by growing aging population, huge investment in R&D, rising government support for device manufacturing companies, and increase in the prevalence of COPD, increasing disposable income and rising healthcare awareness. However, Growing healthcare cost containment pressure and Tax reforms coupled with increased regulatory compliance norms are major barriers for this market.
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Respiratory Devices Market: Segmentation
Respiratory Therapeutic Devices global market is segmented into following types:
Compressed Jet Nebulizers
Home Oxygen Concentrators
Portable Oxygen Concentrators
Positive Airway Pressure (PAP) Devices
Continuous Positive Airway Pressure (CPAP) Devices
Automatic Positive Airway Pressure (APAP) Devices
Bi-Level Positive Airway (BPAP) Pressure Devices
Invasive Mechanical Ventilators
Non-invasive Mechanical Ventilators
Respiratory Devices Market: Overview
With rapid technological advancement, growing aging population, and increase in the prevalence of COPD. The respiratory devices global market is expected to have healthy growth rate in the forecast period (2015-2025).
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Respiratory Devices Market: Region-Wise Outlook
Depending on geographic region, global respiratory devices market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
Asia Pacific is emerging as dominating markets for respiratory device due to their high healthcare awareness and augmented disposable income. Amongst the Asian countries, India and china are more promising due to large population pool and increased number of hospitals.
Respiratory Devices Market: Key Players
Some of the key participating players in respiratory global market are Covidien Plc., Fisher & Paykel Healthcare Limited, Philips Healthcare, ResMed Inc., General Electric Company, Hamilton Medical, Teleflex Incorporated, Smiths Medical, Clement Clarke International Limited, Drager Medical GmbH, and CareFusion Corporation.
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