The Business Research Company’s Respiratory Devices And Equipment (Therapeutic) Global Market Report 2021: COVID-19 Implications And Growth To 2030
LONDON, GREATER LONDON, UK, March 22, 2021 /EINPresswire.com/ — Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Rising prevalence of respiratory diseases such as Chronic Obstructive Pulmonary Disorder (COPD) and sleep apnea contributed to the growth of the therapeutic respiratory devices and equipment market. According to the World Health Organization, one million people die due to chronic obstructive pulmonary diseases caused by smoking among the 4.9 million people who die due to tobacco consumption, and 65 million people suffer with moderate to severe COPD. As per its estimates, COPD is predicted to be the third leading cause of death worldwide and potentially fatal respiratory diseases. Tuberculosis, COPD, and lung cancer will account for about one in five deaths worldwide by 2030. According to National Health Interview Survey, 2018 by Centers for Disease Control and Prevention (CDC), number of adults with diagnosed chronic bronchitis in the USA was 9.0 million. In the USA, it is estimated that 22 million Americans suffer from sleep apnea, with 80% of the cases of moderate and severe obstructive sleep apnea undiagnosed. According to epidemiological studies presented at the Associated Professional Sleep Societies in 2019, 37% of adults in the North, Central and South America suffer from Obstructive Sleep Apnea (OSA). The increased prevalence of COPD and sleep apnea in the geriatric population is driving the anesthesia and respiratory devices market.
The therapeutic respiratory devices market covered in TBRC’s report is segmented by product into nebulizers, humidifiers, oxygen concentrators, positive airway pressure devices, ventilators, capnographs, gas analyzers; by end-user into homecare settings, hospitals; by technology into HEPA filter, electrostatic filtration, microsphere separation, hollow fiber filtration, others.
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The global respiratory devices and equipment (therapeutic) market is expected to decline from $33.97 billion in 2020 to $24.71 billion in 2021 at a compound annual growth rate (CAGR) of -27.3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The respiratory therapeutic devices market is expected to reach $45.81 billion in 2025 at a CAGR of 16.7%.
Major players in the respiratory medical device industry are Hamilton Medical Ag, Koninklijke Philips N.V, Smiths Medica, Ge Healthcare, Philips Health Care, Chart Industries, Invacare Corporation, Fisher & Paykel Healthcare Limited, ResMed, and Dragerwerk Ag.
Respiratory Devices And Equipment (Therapeutic) Global Market Report 2021: COVID-19 Implications And Growth To 2030 is one of a series of new reports from The Business Research Company that provides respiratory devices and equipment (therapeutic) market overview, forecast respiratory devices and equipment (therapeutic) market size and growth for the whole market, respiratory devices and equipment (therapeutic) market segments, and geographies, respiratory devices and equipment (therapeutic) market trends, respiratory devices and equipment (therapeutic) market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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