Global respiratory care device market is expected to grow at the CAGR of 10.29% during 2016-2023.Respiratory diseases are serious health concern owing to rapidly growing number of smokers worldwide. Governments are now taking initiatives, implementing various health schemes to decrease the death rates caused by respiratory disease and disorders. Respiratory diseases are the medical conditions that affect the structure and organs (respiratory system) related with respiration or breathing. Increasing respiratory diseases such as chronic obstructive pulmonary diseases, asthma, and lung cancer has boosted the growth of the respiratory care device market. In addition to it, there has been a paradigm shift from hospital care to home health care. This is because of high hospital expenditure, decline in medical compensation due to cost containment issues, and rise in the geriatric population. These factors are anticipated to contribute to the growth of the respiratory care device market.
Respiratory care device are the collection of medical devices which focus on the control, management, diagnostic evaluation and intensive care of patients with cardiopulmonary systems abnormality. A degenerative lung disease, chronic obstructive pulmonary diseases (COPD), and emphysema generally require these respiratory monitoring devices. The market for these devices is expected to show huge growth as one of the major causes for the deaths worldwide is COPD. COPD is recognized as the fifth leading cause for deaths worldwide by 2023. Some of the driving factors for the global respiratory care device market are rise in the number of chronic pulmonary obstructive diseased patients, changing life style and environment like increasing pollution level and smokers, and rising geriatric population. However, lack of awareness in some regions, and harmful effects of respiratory devices on neonates are the restraining factors for the market growth. Also the excise tax on devices is expected to impact the market growth.
Source: OBRC Analysis
The global respiratory care device market is segmented on the basis of products and end users. On the basis of products, market is segmented into:
- Spirometer
- Peak Flow Meter
- Pulse Oximeter
- Capnographs
On the basis of end users, market is sub segmented into:
- Homecare setting
- Hospitals
The revenue for the above end-user segments are specific to the respiratory devicee market. however, the total revenue of these end-user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up product segment.
Geographically, the global respiratory care device market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
Asia-Pacific region is expected to grow with highest CAGR, due to the increase in number of respiratory patients, increasing per capita income and rapidly developing health monitoring infrastructure in developing countries of this region. In addition, the major players of the industry are located in North America, so the rate of innovation and up gradation is higher in this region as compared to the other regions. However, APAC is anticipated to be the fastest growing market. It is anticipated to grow at a CAGR of 12.62% during the forecast period of 2016-2022. In APAC, countries such as China, India and Korea are creating immense growth opportunities for global respiratory care device market. Major factors driving the market in APAC region are, increasing healthcare expenditure, increasing aging population and rising opportunities in various un-penetrated markets and increasing investments etc. North America is the dominating market due to rising geriatric population and increasing government healthcare expenditure.
In the end user segment, the hospital’s segment is expected to have the largest share of nearly 65% of the total market. But still home monitoring segment is anticipated to have fastest growth in future, due to increase in development of lightweight and compact respiratory care device which are easier to operate.
The major market players of the global respiratory care device market are:
- CAREFUSION CORPORATION
- SMITH’S MEDICAL
- RESMED, INC.
- MASIMO CORPORATION
- GE HEALTHCARE
- MGC DIAGNOSTIC CORPORATION
- OTHERS
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. Example on June 2016 GE Healthcare did acquisition of Biosafe Group. Biosafe Group SA, a supplier of integrated cell bioprocessing systems for the increasingly growing cell therapy and regenerative medicine industry. The acquisition expands GE Healthcare’s end-to-end ecosystem of products, solutions and services for cell therapy customers, and hence expands GE’s technology reach to a number of new cell and therapy types.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as acquisition that is on June 2016 GE Healthcare did acquisition of Biosafe Group.
- Provide in detail the different segments such as by products and end-users which are affecting the global respiratory care device market.
- Provide you the patent analysis of the respiratory care device market.
- Identify and understand the strength, opportunities, challenges and threat of the respiratory care device market.
- Provide revenues of major players of the market such as Honeywell, Bosch security systems.
- Provide you various the regulatory policies which are affecting the global respiratory care device market.
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global respiratory care device market offers the longest chain of market segmentation covering major market segmentation based on products and end users. The report tracks the major market trends in the global respiratory care device market such as to rapidly growing number of smokers worldwide. and so on. For each market segments covered in global respiratory care device market report, we provide opportunity matrix, and DRO analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the respiratory care device industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key Findings of the global respiratory care device market:
- Increasing respiratory diseases such as chronic obstructive pulmonary diseases, asthma, and lung cancer has boosted the growth of the respiratory care device market.
- North America is anticipated to account the largest revenue share in 2016.
- Increasing government support
- Acquisition is the key strategy adopted by the various market players of global respiratory care device market.
- Hospital sector is the major segment of end-user.
