The latest report on Respiratory Devices Market by Infinium Global Research gives complete coverage of the respiratory devices market by product type (therapeutic devices, diagnostic, monitoring), application (chronic obstructive pulmonary disease, asthma, pneumonia, obstructive sleep apnea), end-user (hospital, diagnostic center, specialty clinics) in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and application trends in the regional markets of respiratory devices such as North America, Europe, Asia-Pacific, and Latin America over the short run and long run. The global respiratory devices market is projected to grow at a CAGR of 6.8% over the forecast period of 2018-2024.
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Increasing Prevalence of Asthma, Chronic Obstructive Pulmonary Disease (COPD), Lung Cancer and Pulmonary Fibrosis is Driving the Demand of Respiratory Devices Market
In 2016, According to the world health organization, it is estimated that 3.17 million deaths were caused by COPD disease and currently 251 million cases of COPD were occurred globally. WHO predicts that COPD will become the third leading cause of death worldwide by 2030. Growing prevalence of Chronic Obstructive Pulmonary Disease (COPD) and sleep apnea over the globe is the key factor fuelling the growth of the respiratory devices market.
Additionally, the rise in demand of nebulizers, humidifiers and respirators due to the increasing prevalence of respiratory diseases. Moreover, growing government funding for the healthcare sector and strategic alliances among the leading key players are supporting factors escalating the demand of the market. However, less awareness regarding the usages of respiratory devices and the high cost of this device restraining the growth of the respiratory devices market. Going further, the rising development in the manufacturing of respiratory devices such as mechanical ventilators, oxygen concentrators expected to create growth opportunities for the respiratory devices market during the forecast period.
Asia Pacific Region to Contribute to Growth of Respiratory Device Market
On the basis of region, the North America region dominates the respiratory devices market followed by Europe. The factors responsible for the growth of the market such as the presence of key players greatly developed healthcare infrastructure and a growing number of people suffering from respiratory diseases. Asia Pacific is expected to be the fastest-growing region in the respiratory device market during the forecast period. Growing geriatric population, rise in prevalence’s of respiratory diseases and steadily developing healthcare infrastructure are some factors expending the demand of market in Asia Pacific region.
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Hikma Signs Deal with Vectura to Commercialize GSK’S Ellipta Portfolio
In November 2018, Hikma said after interactions with the US FDA, the companies believe the Open-Inhale-Close dry powder inhaler device has the potential to be developed as an AB-rated substitutable drug-device combination for generic versions of the Ellipta portfolio. The Open-Inhale-Close dry powder inhaler program includes the development of AB-rated substitutable generics of up to five of GSK’s respiratory medicines.
RAM Group Introduces the First Quantum Device Sensor for Cardio-Respiratory Health and Full-Body Monitoring
In October 2018, The RAM Group announced its Quantum Cardio-Respiratory Monitor (qCRM™), the first-of-its-kind integrated single-point, non-invasive, bio-electro-mechanical sensor with the potential to provide full-body diagnostics and analysis. RAM Group recently completed a feasibility study with the Giessen University Hospital in Giessen Germany for its single-point measure (SPM) sensor and found that their non-invasive tool outperformed other more traditional measures. The technology holds great promise for SPM sensors that can be utilized at point-of-care or through wearable devices. RAM Group is now seeking additional funding for further research and validation.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the respiratory devices.
- Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.