Therapeutic respiratory devices are deemed for therapeutic use to increase lung oxygenation, enhance pulmonary function, and help in elimination of mucus from bronchi during treatment. These devices are chosen for respiratory disorder treatment by the patients and physicians as they offer medical intervention in chronic and acute patient care. Therapeutic respiratory devices are broadly utilized in treating degenerative lung diseases like asthma, chronic obstructive pulmonary diseases (COPD), cystic fibrosis, acute bronchitis, and others.
The major factors projected to drive the growth of global therapeutic respiratory devices market during the forecast period include the rising population of elderly people, swift improvements in technology and growing cases of respiratory diseases. Further, rising implementation of therapeutic respiratory devices like nebulizers, humidifiers, and oxygen concentrators will also spur the market expansion in years to come. The growing incidence of sleep apnea is projected to spike due to the rising occurrence of hypertension, obesity, and cardiovascular diseases, resulting in market growth. Nonetheless, low per capita income and lack of cognizance regarding respiratory conditions are factors that might restrict the market expansion to certain extent.
The global therapeutic respiratory devices market can be categorized based on technology, products, end-users, application, and region. The market, by technology, is diversified into HEPA filter technology, electrostatic filtration, microsphere separation, and hollow fiber filtration. The market, by products, is divided into humidifiers, nebulizers, positive airway pressure devices, oxygen concentrators, capnographs, gas analyzers, and ventilators. The market, by end-users, is categorized into home care, retail pharmacies, hospitals & clinics, and others. The market, by application, is classified into cystic fibrosis, chronic obstructive pulmonary disease (COPD), asthma, and others.
Regionally, global therapeutic respiratory devices market is projected to be governed by North America during the forecast period due to huge patient population suffering from lung diseases, well-developed healthcare infrastructure, escalated healthcare spending, and altered lifestyle. The second-biggest market position is held by Europe due to elevated government support for R&D activities, large patient population, and well-established healthcare infrastructure. Asia Pacific is anticipated to witness lucrative expansion over the coming years due increasing asthma cases in kids & adults, technological developments, growing requirement for home healthcare institutions, lifestyle-related alterations, and escalating disposable income.
Few of the players actively participating in the global therapeutic respiratory devices market consist of Covidien plc (Medtronic plc), Philips Respironics, CareFusion Corporation, Fisher & Paykel Healthcare, Drägerwerk AG, Smiths Medical, Inogen, GE Healthcare, Siemens Healthcare, Nihon Kohden Corporation, MAQUET Holding B.V. & Co. KG (Getinge Group), and Teleflex Incorporated, among others. To cite, Becton Dickinson and Company, in March 2016, collaborated with Apax Partners with the aim to increase respiratory solutions offered by the firm and maintain its market status.
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