The Global Respiratory Devices Market is poised to become a USD 27 Bn Market by 2027. Will the projections justify growth? : Ken Research

 The market will be growing at the rate of 8.5% owing to increasing adoption of miniaturized respiratory devices & rising cases of respiratory illnesses, says a report by Ken Research

Global Respiratory Devices Market Ecosystem

The Global Respiratory devices market is highly fragmented in nature, with the presence of many international players as well as local players. Some of the major players in the industry include Philips Healthcare, ResMed, Drager & Medtronic.

Global Life Enhancing Medical Devices Industry

1. “Illnesses being a growth factor?:” With rising cases of respiratory problems, companies are now realizing the huge potential it holds for the respiratory devices market.

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Infectious respiratory diseases directly drive demand for respiratory care. COVID-19 is the most recent example of these diseases. The pandemic has resulted in a surge for demand for personal protective equipment & ventilators, among others. The demand for ventilators has also grown due to the prevalence of other diseases, resulting in government & industry support for these devices.

2. “Home healthcare devices market providing a boost:” With an increasing trend towards adoption of home healthcare devices, miniaturized respiratory devices have become a need rather than a want.

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The rapid growth in global geriatric population, rising incidents of chronic diseases (including COPD & asthma), alongside the cost advantage of home care devices & services are the key factors driving the global respiratory devices market. As per WHO, a total of 251 Mn cases of COPD were diagnosed globally. The high growth potential in emerging markets, healthcare decentralization & the evolution of miniaturized devices are some of the major factors that are expected to provide significant opportunities to players operating in the respiratory home healthcare market.

By Type of Product

• Inhalers
• Respiratory Consumables
• Nebulizers
• Oxygen Concentrators
• Positive Airway Pressure Devices
• Spirometer

By End-User

• Hospitals
• Clinics
• Others

By Geography

• Asia Pacific
• Middle East
• North America
• Australia
• South America
• Europe

Time Period Captured in the Report:

• Historical Period:2017- 2022
• Base Year: 2022
• Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Respiratory Devices Market Outlook to 2027

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US Medical Devices Market Outlook to 2027

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Global Respiratory Devices market which grew at a robust CAGR from 2017-2022 & is forecasted to grow steadily from 2022-2027: Ken Research

 What is the Size of Global Respiratory devices Industry?

Global Respiratory devices Market is growing at a CAGR of ~% in 2017-2022 and is expected to reach USD ~ Bn by 2027. The Global Respiratory Devices Market is largely driven by rising cases of respiratory illness such as COPD & Asthma. There has been a change in the demand for respiratory devices in recent years, supported by the quickly developing product development trends. Furthermore, the market for respiratory devices is growing because of factors such as inorganic growth strategies conducted by companies to promote their product.

The growing preference among customers for home healthcare devices is boosting the worldwide Respiratory devices market. The Respiratory devices companies have shifted their emphasis to providing home-based   products which includes is not only beneficial for people with COPD & asthma but also serves as first hand care in care of emergency. The market is expanding because of the increased focus on implementing technology to enhance the customer experience and minimize healthcare failure.

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Global Respiratory devices Market by Product type

The Global Respiratory Devices Market is segmented by Product type into Inhalers, respiratory consumables, nebulizers, oxygen concentrators. There is a preference towards inhalers as of now due to the rising cases of asthma amongst younger population.

Global Respiratory devices Market by End user

Global Respiratory devices Market is segmented by end user type into Hospitals, Clinics & others. Hospital segment has been covering a major segment of the market owing to growing public private partnerships & improving health infrastructure.

Global Respiratory devices Market by region

The Global Respiratory Devices Market is segmented by region into North America, Europe, Asia Pacific, Middle East, South America. North America held the largest share of market in 2019 while Asia Pacific is expected to capture a large share of market in upcoming years.

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Competition Scenario in Global Respiratory devices Market

The Global Respiratory devices market is a highly competitive and diverse industry with many major players operating in the region. Here are some of the leading catering companies in the global Respiratory devices Market. Top players include Medtronic, Philips Healthcare, ResMed including others. The market is largely driven by active inorganic growth strategies, innovative technologies & increasing investment scenario.

What is the Expected Future Outlook for the Respiratory devices Market Across the globe?

The Global Respiratory Devices Market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2027, witnessing a CAGR of ~% during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.

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The Global Respiratory Devices Market is driven by customers' growing preference for home based miniaturized respiratory devices is driving growth in the Global Respiratory devices services market. The growing preference among customers for home healthcare is boosting the worldwide organic Respiratory devices market. The Respiratory devices companies have shifted their emphasis to providing innovative products which is good for usual healthcare as well as emergency. The market is expanding because of the increased focus on implementing technology to enhance the customer experience and minimize healthcare failure.

In addition to this, companies are involving themselves in active growth strategies in order to prevent healthcare failure. Although factors such as consumer hesitation with regards to product ingredients may hamper the market growth, the increasing popularity of home-based devices is clearly driving market growth. Our researchers examined the data with 2022 as the starting point, as well as the key drivers, trends, and challenges. A comprehensive analysis of drivers will assist businesses in refining their marketing strategies in order to gain a competitive advantage.

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Respiratory Devices Market Outlook to 2027

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US Medical Devices Market Outlook to 2027

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Acquisitions and Expansion Activities by Major Players, Introduction of Technology Driven Care Models and Rise in Per Capita Income in Developing Countries will Positively Impact the Global Home Healthcare Market: Ken Research

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Leading players such as Healthcare at Home are investing heavily in digitizing their business model starting from booking an appointment to monitoring patient’s vitals & managing the case on a real time basis.

The number of remotely monitored patients in 2016 was estimated to be around 7.1 million and is forecasted to reach approximately 50.2 million by the year ending 2021.

Few major players such as Right at Home and Home Instead Senior Care have successfully adopted the franchise model to expand their footprint and are now entering the APAC region as well.

Rising Geriatric Population: The demand for home healthcare services increased with the increase in the average life expectancy globally. Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22% and 80% of all elderly people will live in low- and middle-income countries. Common services demanded from home health care companies by elderly patients include physiotherapy, oncology at home, dialysis at home, ICU at home, diabetes monitoring and dementia/Alzheimer’s care.

Industry Consolidation: International players are actively looking for expansion, as there is fear of disruption due to tech-based aggregators in regional markets. There is increased collaboration between various providers of healthcare including hospitals, nursing houses, elderly care homes and home health providers. Various hospitals are looking to employ their own home healthcare branch or outsource the service to a provider and build partnerships on a mutually beneficial revenue sharing basis.

Shift towards Value-Based Treatment Model: Governments and healthcare associations are realizing the shift from a payment-based model to a value-based model, The major aims of value-based care are implementing continuum of care, enhancing patient experience, standardizing outcome and cost of care and treatment delivery through a collaborative chain of activities with measurable outcomes. Implementation of value-based care would require the building blocks of public financing, resource availability, utilization of existing and future technology and a collaborative ecosystem for each entity in the ecosystem to strive and grow. As a result, it is expected that we will witness some efforts by stakeholders in future pertaining to bringing about policy changes in favor of care at home in the emerging countries.

The report titled “Global Home Healthcare Market Outlook to 2025– By Patient Profile (Elderly Care, Rehabilitation, Physiotherapy, Wound Care and Others), By Age Group in Years (Mother and Infant, Below 25, 25-40, 40-65 and 65 & Above) and By Region (USA, Germany, UK, Canada, Japan, Australia, China, India, South Africa, UAE and Others)”gives an in depth, comprehensive study on the global home healthcare market. The report covers various aspects including overview & genesis of the market, global home healthcare trends and challenges, market size by revenue along with segmentations for four regions (America, Europe, Asia-Pacific and Middle East and Africa. Country snapshots for 10 countries (USA, Canada, Germany, UK, Australia, Japan, China, India, South Africa and UAE) are also included. It is further expected that the market would grow by CAGR 5.4% between 2019 and 2025.

Key Segments Covered

Global Home Healthcare Market

By Region

America

Europe

Asia Pacific

Middle East and Africa

By Countries

USA

Canada

Germany

UK

Australia

Japan

India

South Africa

UAE

Snapshot on China Home Healthcare Market

By Age Group 

Mother and Infant

Below 25

25-40

40-65

65 Above

By Patient Profile

Elderly Care

Rehabilitation

Physiotherapy

Wound Care

Others (COPD, Lab Tests, Injections, Dementia Care etc.)

By Service Stream

Staff & Support Service (Nurses, Doctors, Assistants and Support Software)

Rental Service (Equipment/Lab/Pharma)

Key Target Audience

Home Healthcare Agencies

Healthcare Device Manufacturing Companies

Healthcare Software Companies

Home Care Companies

Nursing/Elderly Care Companies

Government Health Departments/Ministry of Health

Nursing Associations

Home Care Associations

Elderly Care Associations/Companies

Healthcare Consulting Companies

Home Healthcare NGOs and Non-Profit Organizations.

 Time Period Captured in the Report

Historical Period: 2014-2019

Forecast Period: 2020F-2025F

Companies Covered

Healthcare at Home

Kindred Healthcare

Home Instead Senior Care

LHC Group

Bayada

Amedisys

Almost Family

Encompass Health Corporation

Addus Homecare

Right at Home

Portea Medical (Healthvista India Pvt. Ltd.)

Key Topics Covered:-

Global Home Healthcare Market Overview

Global Home Healthcare Market Size

Global Home Healthcare Market Trends and Challenges

Global Home Healthcare Market Porter’s Five Forces

Global Home Healthcare Market Ecosystem and Industry Value Chain

Global Home Healthcare Market Segmentation (By Region, Age Group and Patient Profile)

America Home Healthcare Market Size and Segmentation (By Age Group and Patient Profile)

Europe Home Healthcare Market Size and Segmentation (By Age Group and Patient Profile)

APAC Home Healthcare Market Size and Segmentation (By Age Group, Patient Profile, Service Stream and Business Model)

MEA Home Healthcare Market Size and Segmentation (By Age Group, Patient Profile and Service Stream)

Country Profiles of USA, Canada, Germany, UK, Australia, Japan, India, South Africa and UAE

Country Snapshot of China Home Healthcare Market

Company Profiles of Major Players in Global Home Healthcare Market

Cross Comparison of KPIs of Major Players in Global Home Healthcare Market

Global Home Healthcare Future Market Outlook and Segmentations

Analyst Recommendations

For more information, refer to below link:

https://www.kenresearch.com/healthcare/general-healthcare/global-home-healthcare-market-outlook-to-2025/328842-91.html

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