Global Respiratory Care Devices Market was Valued at US$ 15527.49 Mn in 2019 Growing at a CAGR of 12.25% over the Forecast Period- says Absolute Markets Insights
PUNE, India, Dec. 14, 2020
PUNE, India, Dec. 14, 2020 /PRNewswire/ --
- The COVID-19 pandemic is expected to have a positive impact on the global respiratory care devices market in the coming years. This is because of the increasingly demand for ventilators for treating the rising number of COVID-19 patients in America, Europe and APAC. Furthermore, there has been a significant spike in the demand for oxygen monitors and pulse oximeters for checking the oxygen levels in COVID-19 patients. Respiratory illness can lead to the disruption of oxygen level in individuals. Protective respiratory care devices such as face masks are also being increasingly used by both healthcare professionals and individuals to prevent the spread of coronavirus.
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- The growth of online sales channels is helping in the higher sales of home-based respiratory devices such as nebulizers, portable ventilators, pulse oximeters, inhalers, etc. The growth of smart devices is enabling individuals to choose from a variety of products online. The market participants are also providing these devices at a discounted rate in online platforms such as Amazon Vitality Medical, amongst others.
- North America accounted for the highest share in the global respiratory care devices market in 2019. Higher healthcare spending in the U.S. and Canada, coupled with the prevalence of critical respiratory illnesses such as asthma and chronic obstructive pulmonary disease (COPD) has played a major role in the higher revenue share of North America region. APAC countries like China and India are focusing on local manufacturing of respiratory care devices to cater to its growing need across the aging population.
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- Some of the players operating in the respiratory care devices market are 3M, Air Liquide Medical Systems, Allied Healthcare Products, Inc., APEX MEDICAL CORP., BD (CareFusion), Drive DeVilbiss International, GENERAL ELECTRIC COMPANY, Getinge AB, Hamilton Medical, Invacare Corporation, Koninklijke Philips N.V., Masimo, McKesson Medical-Surgical Inc., Medtronic, Nonin, Omron Healthcare, Inc., ResMed, Salter Labs, Smiths Group plc., Sunset Healthcare Solutions Inc, Teleflex Incorporated, VYAIRE MEDICAL, INC.
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