Respiratory Care Devices Market - Future Industry Growth Dynamics
Seeking Alpha Analyst Since 2014
#Healthcare Consultant focusing on #TeleHealth #TeleMedicine #PatientPortals #CVIS #HCIT #MedicalRobots #Vaccines #MedicalDevices #WirelessHealth #Biotechnology
Summary
- Growing Demand for Home Care therapeutic Devices.
- High Growth in Developing Countries Across APAC and Latin America.
- Point-of-Care Diagnostics - an Upcoming Opportunity.
Major Objectives of this Study:
# To define, describe, and forecast the Respiratory Care Devices Market based on type, indication, end user, and region.
# To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges).
# To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market.
# To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
# To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
# To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies.
# To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the respiratory care devices market.
What the Market Looks Like?
The respiratory care devices market is expected to reach USD 29.9 billion by 2025 from USD 16.0 billion in 2019, at a CAGR of -12.5% during the forecast period of 2020 to 2025.
Due to the outbreak of corona virus globally, there is a sudden rise in the demand for respiratory care devices. Thus, the respiratory care devices market witnessed a CAGR of 261.1% between 2019 and 2020. In 2020, respiratory care devices market reached to USD 58.1 billion.
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Global Geographical Scenario:
Asia Pacific market to witness the highest growth during the forecast period
The respiratory market is divided into five regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country levels. North America held the largest share of the respiratory care devices market in 2019, followed by Europe and the Asia Pacific. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, due to due to the presence of a large pool of respiratory patients, increasing healthcare expenditure, rapidly developing healthcare infrastructure, rising per capita income, growing middle-class population, and growing prevalence of tobacco smoking in this region.
What Drives the Market?
The growth of the global Respiratory Care Devices Industry is primarily influenced by the following factors:
# Rising Prevalence of Respiratory Diseases
# Increasing Incidence Rate of Preterm Births
# Outbreak of Infectious Diseases Affecting Respiratory System
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