Title: Therapeutic Respiratory Devices Market size $23.65bn by 2024
1Therapeutic Respiratory Devices Market size
23.65bn by 2024, with 11.7 CAGR estimation from
2016 to 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2 Key Insights from Therapeutic Respiratory
Devices Market
- Growing geriatric population, rising prevalence
of chronic disorders, and increased demand in
home healthcare institutions are the major
factors slated to drive therapeutic respiratory
devices market size. - Technological advancements and presence of
untapped opportunities in countries such as
India, China, and Japan are expected to be key
opportunity areas for industry participants over
the forecast timeframe. - Global therapeutic respiratory devices market
size is predominantly driven by the PAP devices. - Rising prevalence of sleep apnea coupled with
growing geriatric population are the key
contributing factors. - Furthermore, rising preference of this equipment
owing to easy portability and rapid relief are
responsible for expected growth.
3Continued...
- PAP devices was followed by the oxygen
concentrators market owing to rising demand in
home healthcare and growing demand for oxygen
therapy among patients. - Product innovation has led to application in the
treatment of chronic as well as acute respiratory
conditions, thereby propelling growth. - Respiratory monitoring products utilize software
applications for ensuring data collection and
analysis from ventilators equipped across the
healthcare system. - However, the number of users tends to decline
with the increase in use duration owing to the
ambiguity regarding usage and side effects such
as morning headaches. - In case of oral appliances, a similar pattern has
been observed. Use of this equipment causes
excess saliva build up and muscle soreness
thereby leading to reduce in patient compliances.
4U.S. Therapeutic Devices Market Size, by Product,
2012 - 2024 (USD Million)
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96
6360 Analysis
- Product Analysis
- The positive airway pressure (PAP) devices
captured majority of the therapeutic respiratory
devices market share in 2015. This can be
attributed to the growing prevalence of
respiratory disorders, existing large patient
pool of sleep apnea, and high usage rates of the
devices due to higher compliance among the
patients. - Regional Analysis
- North America garnered the largest regional
share, with revenue estimated at USD 3.2 billion
in 2015. U.S. respiratory devices market share
alone contributed to 62 of the regional revenue.
This is mainly due to the high prevalence of
respiratory disorders such as sleep apnea and
COPD, along with favorable regulatory landscape. - Competitive Market Share
- Global therapeutic respiratory devices industry
is competitive in nature, due to the presence of
well-established, reputed and giant players.
Local and regional manufacturers also exist
however existing players are implementing merger
and acquisition strategy in order to maintain
leadership position. The players compete on the
basis of product portfolio extensiveness,
regional presence and sustainability strategies.
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