Respiratory Care Devices Market - High Growth in Developing Countries Across APAC and Latin America


Posted March 3, 2021 by mmvaidya

This study involved four major activities for estimating the current size of the global respiratory care devices market.
 
Overview of This Study:

This study involved four major activities for estimating the current size of the global respiratory care devices market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step focused on validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and sub-segments.

Market Size Estimation:

The total size of the Respiratory Care Technique Market was arrived at after data triangulation from two different approaches, as mentioned below.

Market Size EstimationApproach to calculate the revenue of different players in the respiratory care devices market

The size of the global respiratory care devices market was obtained from annual reports, SEC filings, online publications, and extensive primary interviews. A percentage split was applied to arrive at the size of market segments. Further splits were applied to arrive at the size for each sub-segment. These percentage splits were validated by primary participants. The country-level market sizes obtained from the annual reports, SEC filings, online publications, and extensive primary interviews were added up to reach the total market size for regions. By adding up the market sizes for all the regions, the global respiratory care devices market was derived.

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Approach to derive the market size and estimate market growth

The market size and market growth were estimated through primary interviews on a regional and global level. All responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate.

Expected Growth in Revenue Generation:

The global Respiratory Care Technique 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 coronavirus 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, the respiratory care devices market reached USD 58.1 billion.

Growth Boosting Factors:

The growth of Respiratory Care Devices Market is mainly attributed to the high prevalence of respiratory diseases, rising aging population across the globe, high prevalence of smoking, rising urbanization and pollution levels, increasing incidence of preterm births, and lifestyle changes.

Geographical Growth Survey:

Asia Pacific market to witness the highest growth during the forecast period

The Respiratory Care Technique 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.

Global Key Players:

The prominent players operating in Respiratory Care Devices Market include Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare (New Zealand), Drager AG (Germany), Invacare Corporation (US), Nihon Kohden (Japan), Getinge AB (Sweden), Air Liquide (France), Invacare Corporation (US), Vyaire Medical (US), GE Healthcare (US), Nonin Medical Inc. (US), Apex Medical Corp. (Taiwan), Smiths Group (UK), Omron Healthcare Inc. (US), Allied Healthcare Products, Inc. (US), Teleflex Incorporated (US), Drive DeVilbiss Healthcare (US), 3B Medical, Inc. (US), Medline Industries, Inc. (US), Acare Technology Co. (Taiwan), Hill-Rom Holdings, Inc. (US), and Rotech Healthcare, Inc. (US).

Different Growth Strategies Adopted by Them:

These players adopted the strategies of partnerships, agreements,and acquisitions to expand their presence in the global respiratory care devices market.

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags global respiratory care technique industry , global respiratory care technique market , respiratory care technique , respiratory care technique industry , respiratory care technique market
Last Updated March 3, 2021