27 April 2021
Visiongain has published a new report on Therapeutic Respiratory Devices Market Report 2021-2031: Forecasts by Product (Nebulizers (Compressor-Based Nebulizers, Piston-Based Hand-Held Nebulizers, Ultrasonic Nebulizers), Humidifiers (Heated Humidifiers, Passover Humidifiers, Integrated Humidifiers, Built-in Humidifiers, Stand-Alone Humidifiers), Oxygen Concentrators (Fixed Oxygen Concentrators, Portable Oxygen Concentrators), Positive Airway Pressure Devices (Continuous Positive Airway Pressure Devices, Auto-Titrating Positive Airway Pressure Devices, Bi-Level Positive Airway Pressure Devices), Ventilators (Adult Ventilators, Neonatal Ventilators), Gas Analyzers, Capnographs), by Technology (Electrostatic Filtration, HEPA Filter Technology, Hollow Fiber Filtration, Microsphere), by End-user (Hospital, Home Care Settings), Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Therapeutic Respiratory Devices Companies AND COVID-19 Recovery Scenarios.
The global therapeutic respiratory devices market is segmented on the basis of region into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. According to Visiongain analysis, global therapeutic respiratory devices market was estimated to be valued at US$xx million in 2020. The region is expected to witness a CAGR of xx% from 2021 to 2026 and is expected to reach US$xx million in 2026 from its previous value of US$xx million in 2021. Visiongain further anticipates that the region will reach US$xx million in 2031 while growing at a CAGR of xx% from 2021 to 2031.
Which Factors are Fuelling Therapeutic Respiratory Devices Industry Growth?
• Rising Geriatric Population to Boost Market Growth
• Rising Prevalence of Respiratory Disorders like Asthma & COPD to Fuel Therapeutic Respiratory Devices Market Growth
• Growing Burden of Air Borne Infections
• Technological Advancements Leading to Adoption of Therapeutic Devices in Home Care Settings
What are Therapeutic Respiratory Devices Market Opportunities?
• Growing PoCT Industry to Offer Lucrative Growth Prospects
• Digital Platform for Respiratory Related Therapies to Offer Lucrative Growth Opportunities
• Growing Demand for Home Care Therapeutic Devices
• Emergence of Smart Inhalers to Offer Lucrative Growth Prospects Through 2031
Digital Platform for Respiratory Related Therapies to Offer Lucrative Growth Opportunities
As COVID-19 takes its toll, respiratory health has become a major concern within the medical community and beyond in recent months. Respiratory illnesses, on the other hand, have long had an influence on the American public. As per the CDC estimates, 19.2 million adults in the U.S. suffer from asthma. The world is witnessing the rise of digital for tracking and treating respiratory illnesses, just as seen in many other areas of health. Although players in the diabetes, hypertension, and related spaces have received the majority of the attention and use of digital health for chronic care management, there is increasing interest in respiratory disorders, asthma, and COPD. The healthcare system spends more than $130 billion a year on asthma, COPD, and other associated diseases. Although there may be opportunities in the respiratory room, caring for these conditions has its own set of challenges, including being difficult to quantify. Companies all over the world are working on creating digital platforms for respiratory-related therapies, such as AptarGroup, Inc. (NYSE: ATR) and Sonmol, a Chinese digital respiratory therapeutics firm, which announced a partnership to create a digital therapies and services network targeting respiratory and other diseases on April 21, 2020. The collaboration between Aptar & Sonmol is anticipated to significantly strengthen Aptar's digital health product offerings across the Asia Pacific region.
Emergence of Smart Inhalers to Offer Lucrative Growth Prospects Through 2031
One example of intelligent technology is smart inhalers. Patients with bronchospasm can now plan their medication dosage and administration times. Patients are very knowledgeable about diseases thanks to available technology, which allows them to search anything on the website and obtain information quickly. It is a multifunctional device that enables these devices to communicate with one another. It has three main functions: (1) inform the daily dosage limit, (2) the amount of dosage left, and (3) the health status of the patient. Technology is becoming more useful in healthcare products as it becomes smarter. People who take multiple asthma medications, on the other hand, must give permission to use multiple meditations. Because of the rising rate of respiratory illnesses, increased pollution, and an ageing population, India's demand for smart inhalers is expected to be very high. A common barrier to widespread adoption of smart inhalers is a lack of awareness about how to use them.
According to Visiongain analysis, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global therapeutic respiratory devices market. Some of the companies profiled in the report include CareFusion Corporation, GE Healthcare, Airsep Corporation, Compumedics Ltd., Smiths Medical, Invacare, Fisher and Paykel, Mindray, Hamilton Medical, BD, Koninklijke Philips N.V., Medtronic, ResMed, 3M, and GlaxoSmithKline Plc among others.
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