The respiratory care devices market is expected to grow from US$ 18,114. 31 million in 2021 to US$ 32,761. 82 million by 2028; it is expected to grow at a CAGR of 8. 9% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving the respiratory care devices market.
New York, July 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Respiratory Care Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product, and End User" - https://www.reportlinker.com/p06289934/?utm_source=GNW
The respiratory care devices market growth is attributed to the increasing prevalence of infectious respiratory diseases, rapidly increasing cases of asthma and COPD, rising number of product launches and approvals, and growing R&D investment for respiratory care devices.
However, cutthroat competition among market players and unfavorable reimbursement scenarios are hampering market growth.
Respiratory care devices include devices intended to assist patients during respiratory disease management.The most commonly used respiratory care devices are oxygen concentrators, ventilators, nebulizers, inhalers, positive airway pressure (PAP) devices, spirometers, etc.
These devices mainly perform therapeutic, diagnostic, and monitoring functions.
Rapidly Increasing Cases of Asthma and COPD: Respiratory Care Devices Market Growth
Chronic respiratory diseases (CRDs) affect the airways and other structures of the lungs.The most common CRDs are chronic obstructive pulmonary diseases (COPD), asthma, occupational lung diseases, and pulmonary hypertension.
Asthma and COPD symptoms and causes are equivalent to the signs of the COVID-19, which indicates the respiratory devices used in their treatment are quite common.According to the paper published by the Journal of Allergy and Clinical Immunology, in 2020, patients with COPD and asthma increased adherence to inhalers medications during the Covid-19 pandemic.
Moreover, in 2020, the number of inhalers prescribed by general practitioners in England increased by 63% between February 2020 and March 2020, as stated by the National Health Service (NHS).Further, some parts of the world, such as the UK and the US, experienced shortages of inhalers because of their use during the COVID-19.
Thus, COVID-19 has propelled the growth and opportunities for the manufacturers of COPD and Asthma devices.
Among all CRDs, Asthma is one of the most common and popular non-communicable diseases which affect all ages.The prevalence of asthma is increasing at an alarming rate due to a rise in allergic reactions toward pollen, dust, and other allergens, increasing environmental pollution.
The main symptoms of asthma include cough, wheeze, shortness of breath, and chest tightness. Below are a few facts and statistics about asthma that drive the market for respiratory care devices:
• According to WHO, in 2019, asthma affected approximately 262 million people and caused 4.5 million deaths.
• The US and the UK have exceptionally high asthma rates among all the regions. According to an article published in British Medical Journal (BMJ), in the UK, asthma-associated deaths increased by 33% between 2008 and 2018.
• The US statistics reveal that 25 million people in the US have asthma. The stats equal 1 in every 13 people, as stated by the Asthma and Allergy Foundation of America, 2021.
• However, asthma is more common in male children than female children. Around 3.3% of male children have asthma, compared to 1.6% of female children, according to AAFA 2021 report.
• According to the CDC, secondhand smoke causes children to have more asthma attacks.
Further, COPD encompasses a group of lung diseases caused by persistent airflow limitation, prolongation of exhalation, and loss of lung elasticity.It is a progressive and debilitating disease associated with an increased inflammatory response in the airways.
According to an article published in The Lancet in May 2022, the global prevalence of COPD was 10.3% in 2019, accounting for 391.9 million cases among people aged 30–79 years. According to WHO, COPD is the 3rd leading cause of death worldwide, causing 3.23 million deaths in 2019. Thus, the rising prevalence of COPD increased the demand for respiratory care devices. As per the American Society of Health-System Pharmacists (ASHP), currently, there are four types of devices to deliver various COPD medications: pressurized metered-dose inhalers (pMDI), dry powder inhalers (DPI), soft mist inhalers (SMI), and nebulizers. Below are the examples of medications requiring respiratory care devices for COPD inhaled therapies.
Various drug-delivery protocols, such as parenteral and oral drug delivery, are developed to treat asthma and COPD.However, the most effective treatment option is the pulmonary drug delivery system, compared to the other conventional methods.
Thus, the factors mentioned above, such as the rising prevalence and cases of Asthma and COPD, and the rise in demand for respiratory care devices, are expected to boost the market growth.
Respiratory Care Devices Market Insights
The global respiratory care devices market is segmented based on product, indications, end user, and geography.Based on product, the market is segmented into therapeutic devices, monitoring devices, diagnostics devices, and consumables & accessories.
The therapeutic devices segment held the largest market share in 2021, and it is anticipated to register the highest CAGR during the forecast period.Based on indication, the global respiratory care devices market is segmented into chronic obstructive pulmonary disease (COPD), sleep apnea, asthma, infectious diseases, and others.
The COPD segment held the largest market share in 2021, and it is anticipated to register the highest CAGR during the forecast period.Based on end user, the global respiratory care devices market is segmented into hospitals, home care, and ambulatory care.
The hospitals segment held the largest market share in 2021, and it is anticipated to register the highest CAGR during the forecast period. Based on geography, the respiratory care devices market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest market share in 2021; however, Asia Pacific is anticipated to register the highest CAGR during the forecast period.
World Health Organization (WHO), Pan American Health Organization (PAHO), Center for Disease Control and Prevention, International Journal of Environment Research and Public Health, National Center for Health Statistics, and Japanese Red Cross Society (JRC) are among the primary and secondary sources referred to while preparing the report on the respiratory care devices market.
Read the full report: https://www.reportlinker.com/p06289934/?utm_source=GNW
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