In 2012, the Global
Therapeutic Respiratory Devices Market was evaluated around USD 6.35
billion and is expected to reach approximately USD 19.48 billion by 2022 while
registering itself at a compound annual growth rate (CAGR) of 11.87% over the
forecast period. Major drivers of the global market are the growing occurrence
of target disorders like COPD, sleep apnea, and asthma, demand for early
disease diagnosis and rising awareness levels amongst the patients. According
to the WHO approximates COPD is anticipated to be the third major cause of
death globally. As per the statistics issued by the National Sleep Foundation,
approximately 40 million Americans were suffering from chronic sleep disorders
during 2012. Furthermore, the occurrence of obstructive sleep apnea was around
12 million in the United States with the analysis rate of approximately 1 out
of 22. The incidence of this disorder is anticipated to constantly increase
over the forecast years, due to the rising occurrence of hypertension, obesity,
and cardiovascular diseases. Also, technological innovations linked with these
systems and increasing healthcare spending levels worldwide are accountable to
estimated boost for the global therapeutic respiratory devices market growth
during the projected period.
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Product Outlook and Trend Analysis
Major
therapeutic respiratory devices industry products involve ventilators, positive
airway pressure, nebulizers, oxygen concentrators, humidifiers, gas analyzers
and capnography. Since 2014, positive airway pressure systems ruled the total
segment at approximately 50%. This can be assigned to technology advancement
ensuing in amplified shelf life and portability. Nebulizers are projected to
grow at the highest rate during the forecast years as a result of, the growing
preference for non-invasive products.
Regional Outlook and Trend Analysis
In
2014, the North American regional therapeutic respiratory devices industry was
the major and was evaluated at USD 2.92 billion. The existence of large
geriatric population, as well as rising occurrence of chronic diseases, is
expected to fuel the regional market growth during the forecast years.
Furthermore, regional market growth is sustained by the existence of coherent
reimbursement guidelines in the United States like Medicare and Medicaid
assisted by healthcare centers and CMS accounts. The improvement in medical
infrastructure, increasing awareness levels regarding healthcare, and a rising
number of outpatient surgical procedures is expected to make sure the demand
sustainability during the forecast years. The Latin American and Asia-Pacific
markets are projected to witness rapid growth during the next few years. The
increasing number of patients having respiratory disorders as well as the
existence of high unfulfilled healthcare needs is anticipated to serve as major
growth drivers.
Competitive Outlook and Trend Analysis
The
major market players in the global therapeutic respiratory devices market are
Philips Healthcare, GE Healthcare, Smiths Medical, CareFusion Corporation, and
Covidien Plc. Innovative product development and mergers and acquisitions are
few often implemented business strategies.
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Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Rising Prevalence of Respiratory Disorders
3.2.1.2. Rapid Technological Advancements
3.2.1.3. Increasing Geriatric Population Across the Globe
3.2.2. Restraints
3.2.2.1. Burden Cost of Respiratory Diseases
3.2.2.2. Lack of Patient Compliance
3.2.3. Opportunities
3.2.3.1. Emerging Countries to Offer Lucrative Growth
Opportunities
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