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(MoneyNewsWire.Net, August 11, 2020 ) According to the latest report by Renub Research, titled "Respiratory Care Devices Market Global Analysis by Product, Type, Region, Companies" Respiratory disease affects persons breathing ability number of these patients are increasing year on year; disease like COPD (Chronic Obstructive Lung Disease), sleep apnea and asthma have increased in the last few years. For treatment and diagnosis of cardiopulmonary disease, respiratory care devices are used globally. Age factor is one of the primary factors for these diseases, as a person become older, the functioning of lung began to decline, due to this respiratory system undergoes numerous immunological, functional, and physiological changes. These respiratory devices can be used in different environments from home to hospitals; these devices also have portable and stationary settings, based on the need of the patient. The Respiratory Care Devices Market is expected to be US$ 30.5 Billion by the end of the year 2025.
Over 235 million people had asthma in the year 2017, according to World Health Organizations’ statistics, since then the number of patients is increasing, and demand for respiratory care devices had increased tremendously. Chronic Obstructive Lung Disease (COPD) is one of the leading causes of death in the whole world. One out of five patients will die due to affected by these diseases.
Growth Drivers of Respiratory Care Devices Industry
The respiratory care device market is growing year on year due to changing lifestyle, and environmental condition such as pollution, rising geriatric population, increasing number of smokers, growth in the number of chronic obstructive pulmonary disease patients. Other than the above reasons, various healthcare companies are investing massively for launching new products for the treatment and diagnostics of patients. Individual with the lower immune system such as elderly people and premature child, they can be easily affected by several diseases which results in the requirement for respiratory support devices just like RDS (respiratory distress syndrome), which promote artificial respiration, also prevent respiratory disorders.
COVID-19 Impact on Respiratory Care Devices Industry
Over a billion people are affected due to this deadly virus. The whole world is currently facing healthcare as well as financial problems due to disease outbreak. Most of the healthcare facilities have reserved their resources for the treatment of COVID-19 patients. Respiratory care devices market is affected as there is a huge demand for these kinds of devices such as Humidifiers, PAP Devices, Peak Flow Meter, Tracheostomy Tube, Ventilators, Nebulizers, Medical Oxygen Concentrators and Pulse Oximeters will also boost the market in upcoming years as well.
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Market Summary
By Product: This research report covers following respiratory devices PAP Devices, Nebulizers, Medical Oxygen Concentrators, Ventilators, Capnography, Humidifiers, Medical Gas Analyzers, Spirometers, Pulse Oximeters, Peak Flow Meter, Polysomnography Devices, Tracheostomy Tube, Breathing Circuits, Others devices. Among all the devices, Polysomnography is dominating the market.
By Type: According to the report, Therapeutic devices hold the most significant market share among all devices. The research report covers Therapeutic Devices, Diagnostic Devices, Monitoring Devices, Consumables & Accessories.
By Region: This research report covers the market for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America holds the biggest market share according to Renub Research analysis.
By Companies: This research report covers Overview, Initiatives & Recent Developments and Revenue analysis of Becton Dickinson and Company, GE Healthcare, Invacare, Philips Group, Fisher & Paykel Healthcare and Medtronic Plc.
Industry Related Opportunity:
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Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Life Sciences, Information Technology, Telecom, Financial Services (Banking, Insurance), Energy, Retail, Manufacturing, Automotive, and Social sector. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.
Also Read: https://www.pressreleasepoint.com/respiratory-care-devices-market-us-305-billion-2025
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