The global respiratory care devices market is estimated to reach USD 21.9 billion by 2020 at a CAGR of 9.6% during the forecast period of 2015 to 2020. The market is primarily driven by the rising incidences of respiratory diseases, increasing geriatric population, growing focus on monitoring respiratory diseases, rising demand for home healthcare, and increasing incidences of preterm births.
Hospitals segment accounted for the largest share of around 60% to 65% of the global respiratory care devices market. However, Asia-Pacific is expected to be the fastest-growing region during the forecast period, owing to the rapidly aging population, increased accessibility to healthcare facilities, and rising healthcare expenditure. The large share of this segment is mainly attributed to the financial capabilities of hospitals to purchase high-priced instruments as well as the availability of trained professionals to operate respiratory care devices. However, the home care end-user segment is expected to witness the highest growth during the forecast period, mainly due to the development of compact and lightweight respiratory care devices that are easier to carry and operate. In this report, the global respiratory care devices market is segmented on the basis of products and end users.
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In 2014, North America accounted for the largest share to the global respiratory care devices market, followed by Europe, Asia-Pacific, Latin American, and the Middle East & Africa. The diagnostic segment is sub segmented into spirometers, peak flow meters, polysomnography (PSG) devices, and other diagnostic devices; while, the consumables & accessories segment is subdivided into disposable masks, disposable resuscitators, tracheostomy tubes, nasal cannulas, and other consumables & accessories. On the basis of products, the respiratory care devices market is divided into therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories. The therapeutic devices segment is further divided into humidifiers, nebulizers, oxygen concentrators, positive airway pressure (PAP) devices, reusable resuscitators, ventilators, inhalers, masks, nitric oxide delivery units, and oxygen hoods. The monitoring devices segment is categorized into pulse oximeters, capnographs, and gas analyzers.
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The global respiratory care devices market is fragmented; some of the major players in this market are Philips Healthcare (Netherlands), Res Med, Inc. (U.S.), Covidien plc (Ireland), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), CareFusion Corporation (U.S.), Invacare Corporation (U.S.), Chart Industries, Inc. (U.S.)
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