Therapeutic Respiratory Devices Market Size, Share, Growth, Trends and Forecast

Posted by carol miller on January 22nd, 2020

The global therapeutic respiratory devices market is anticipated to reach USD 18.0 billion by 2025, according to a new report by Grand View Research, Inc. Growing geriatric population base, rising prevalence of respiratory diseases, and rapid technological advancements are the key factors that are driving the market growth.

The therapeutic respiratory devices market growth is anticipated to increase due to rapid technological advancements in the market. Now-a-days, the respiratory monitoring devices utilize software applications for the collection and analysis of data from ventilators equipped across the health system. The tools in the software application allow improvised patient monitoring by the measurement of parameters such as process and clinical variation in the ventilator therapy.

Furthermore, waveform capnography is a useful technical advancement in monitoring the carbon dioxide levels. The launch of new products such as automated and stand-alone pressure controller for mechanical ventilators boost the growth of therapeutic respiratory devices market. These pressure controllers enable reduction in the risk of tracheal injuries and Ventilator Associated Pneumonia (VAP). For instance, in May 2015, Fischer and Paykel launched its new product AIRVO Nasal High Flow System, which provides comfort and stability for patients. It has soft contoured cheek pads and prongs, uninterrupted power supply transport, and tube technology with two way spiral design. The company also offers humidifier with integrated flow generator, which delivers high flows of air mixture to spontaneously breathing patient. Such factors are bolstering the growth of the market.

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Further Key Findings from the Study Suggest:

• Positive airway pressure devices accounted for the largest share in 2016 owing to technological innovations resulting in increased portability and shelf life.
  
  
• HEPA filter technology accounted for the largest share in 2016, due to the prevalence of respiratory diseases & their transmission coupled with technological advancements in this segment.
  
  
• Humidifiers is anticipated to be the fastest growing segment in the forecast period owing to the rising demand for humidifiers in hospitals, schools, home, & healthcare entities, and increased prevalence of airborne infections such as tuberculosis.
  
  
• North America therapeutic respiratory devices market is the largest market and is expected to maintain its position over the forecast period owing to the presence of large geriatric population base and rising prevalence of chronic respiratory diseases.
  
  
• Major players of the market include, Carefusion Corporation, GE Heathcare, AirSep Corporation, Philips Healthcare, Smiths Medical and Covidien PLC.

Access full research report on global therapeutic respiratory devices market: www.grandviewresearch.com/industry-analysis/therapeutic-respiratory-devices-market