Los Angeles, CA -- (SBWire) -- 10/22/2021 --Rise in respiratory diseases due to growing pollution levels is boosting the demand for respiratory care devices. QY Research has recently published a report titled "Global Respiratory Care Device Market Research Report 2020" predicting the growth opportunities that lie in the global market. According to the report, the global respiratory device market is expected to reach US$20120mn in 2020 and US$36540mn by the end of 2026, registering a CAGR of 8.8% during the forecast period.
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Rise in Pollution to Boost Demand for Respiratory Care Devices Market
Rising number of respiratory diseases due to air pollution is one of the key factors for rise in demand of respiratory devices. Air pollution is driven by factories, wildfires, and urbanization. Long term exposure to polluted air, especially in the urban and industrial areas, has led to lung problems which has bolstered the demand for breathing devices. Rise in short term and long term breathing condition hampers the person's ability to breathe, hence, making him dependent on therapies and devices.
Advancement in technology has made it possible for patients to breathe easily and live longer. Easier and cheaper access to healthcare has made enabled quick diagnosis and made these treatments affordable. The features of respiratory care device such as assessing progress, determining diseases, increasing independence and self-management, and providing psychological comfort helps patients suffering from acute as well as chronic breathing problems.
Home Care Segment to Flourish during Forecast Period due to Cost Effectiveness
Home care segment is expected to flourish due to technological advancements that have made it possible for patients to get treatment at home in their comfort space. Home care facility improves survival, focuses on pain management, reduces morbidity, and reduces health care expenditure. All of these factors are expected to bode well for the segment.
Extensive Research and Development Activities to Push North America as the Leading Region
North America is expected to lead the global market as this region is technologically advanced which promotes growth of healthcare industry. This region also invests in research and development activities for various health institutions and programs. These reasons will likely boost the demand for respiratory care devices market.
Global Respiratory Care Device Market: Competitive Landscape
The key players operating in the global respiratory care device market are ResMed, Philips Respironics, Covidien(Medtronic), Fisher and Paykel Healthcare, Maquet, CareFusion Corporation (BD), Dräger, Teleflex, DeVilbiss Healthcare(Drive Medical), Invacare, Chart Industries, Weinmann, Inogen, Yuyue Medical, Masimo Corporation, Hamilton Medical, Nihon Kohden Corporation, etc.
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QYResearch established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert's resources (included energy automotive chemical medical ICT consumer goods etc.
Easily Accessible Healthcare to Bolster the Global Respiratory Care Devices Market with a CAGR of 8.8% by 2026