Respiratory Care Devices Market - Major Revenue Surge Is Expected During Forecast Period

By Author: MarketsandMarkets
Total Articles: 82
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Global Industry Driving Factors:

Due to the outbreak of corona virus globally, there is a sudden rise in the demand for respiratory care devices. The major factor driving the growth of the respiratory care devices market is the high prevalence of respiratory diseases as a result of the rapid growth in the global geriatric population, high prevalence of tobacco smoking, urbanization and growing levels of pollution, and changing lifestyle. However, factors such as the presence of an unfavorable reimbursement scenario and the availability of low-cost products from local manufacturers are expected to restrain the growth of this market during the forecast period.

Expected Revenue Gains:

The respiratory care devices market is expected to reach USD 27.6 billion by 2026 from USD 18.4 billion in 2021, at a CAGR of 8.5% during the forecast period of 2021 to 2026.

Overview:

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.

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Geographical Growth Scenario:

The global respiratory care devices market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of this market. The large share of the North American region is mainly attributed to the strong presence of a large number of major manufacturers, its rising geriatric population, high prevalence of smoking and respiratory diseases, and the presence of a highly developed healthcare system. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, due to its large patient pool for respiratory diseases, growing healthcare expenditure, and developments in healthcare infrastructure.

Research Methodologies Followed for THis Study:

Secondary Research:

In the secondary research process, various secondary sources such as D&B Hoovers, Bloomberg Business, and Factiva have been referred to identify and collect information for this study. These secondary sources include annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard and silver-standard websites, regulatory bodies, and databases.

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and related key executives from various key companies operating in the respiratory care devices market.

Primary sources from the demand side include experts from hospitals and diagnostic labs and research and academic laboratories. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on the key industry trends and key market dynamics, such as market drivers, restraints, challenges, and opportunities.

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