The therapeutic respiratory devices market value from ventilators is anticipated to reach USD 2.2 billion in the next few years considering the surge in the instances of surgeries across the world. This can be further owed to the growing prevalence of preterm births, chronic pulmonary as well as respiratory diseases. Furthermore, the jump in the household incomes of consumers has resulted in higher affordability of the ventilators.
Therapeutic respiratory devices market is strictly circumvented by regulatory norms. The U.S. FDA for instance, considering the vulnerability of the aging American populace has been highly stringent with regards to granting approval for medical devices. Recently, the U.S. FDA approved a breakthrough device, called the Zephyr Endobronchial Valve that aims to treat breathing issues associated with severe emphysema, which incidentally, has very limited treatment options available. As per The Centers for Disease Control and Prevention, nearly 3.5 million American adults suffer from emphysema.
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According to the estimates compiled by the World Health Organization in 2004, nearly 65 million of the global populace back then was found to be suffering from COPD (chronic obstructive pulmonary disease). By 2030, COPD is likely to emerge as the third leading cause of deaths globally. In 2014, WHO even estimated that approximately 334 million people across the globe suffer from asthma. The unprecedented pace at which the prevalence rate of these disorders is growing clearly necessitates the demand for highly advanced, efficient respiratory devices, thereby driving therapeutic respiratory devices market size that is likely to witness a meteoric rise in the coming years.
On account of the ease of access to developed healthcare facilities with various technological advancements, the therapeutic respiratory devices market in the U.S. was valued at USD 3.8 billion in 2017. The expanding geriatric population has given rise to a higher prevalence of chronic respiratory diseases in the country. Increased levels of smoking, lifestyle changes as well as other environmental factors, are also adding positive impetus to the regional penetration of therapeutic respiratory devices.
The competitive landscape of global therapeutic respiratory devices market is inclusive of top shots such as Aircep Corporation, CareFusion Corporation, Breas Medical, Compumedics, GE Healthcare, Fisher & Paykel, Hamilton Medical, and Hill-Rom. These companies have been undertaking a slew of tried-and-tested growth strategies to widen their reach in the global landscape. Say for instance, in 2016, Becton, Dickinson and Company penned down a strategic agreement with Apax Partners, in a bid to expand its respiratory solutions which ultimately strengthened its position in the market. Driven by the appreciable advancements on the product development front in sync with the rising prevalence of chronic pulmonary disorders, therapeutic respiratory devices market is forecast to exceed a revenue of USD 21.5 billion by 2024.
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Partial Chapter of the Table of Content
- TABLE 1. Therapeutic respiratory devices market 360° synopsis, 2013 – 2024
- TABLE 2. Global market 2013 – 2017 (USD Million)
- TABLE 3. Global market by product, 2013 - 2017 (USD Million)
- TABLE 4. Global market by product, 2018 - 2024 (USD Million)
- TABLE 5. Global market by end-use, 2013 – 2017 (USD Million)
- TABLE 6. Global market by end-use, 2018 – 2024 (USD Million)
- TABLE 7. Global therapeutic respiratory devices market by region, 2013 – 2017 (USD Million)
- TABLE 8. Global market by region, 2018 – 2024 (USD Million)
- TABLE 9. Industry impact forces
- TABLE 10. Pipeline analysis
Charts & Figures
- FIG. 1 Industry segmentation
- FIG. 2 Global market 2013 - 2024 (USD Billion)
- FIG. 3 Growth potential analysis, by product
- FIG. 4 Growth potential analysis, by end-use
- FIG. 5 Porter’s analysis
- FIG. 6 Strategy Dashboard
- FIG. 7 PESTEL analysis
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