December 2nd, 2011 Global Respiratory Care Equipment and Supplies Market to Reach US$11 Billion by 2017, According to New Report by Global Industry Analysts, Inc.
Global Respiratory Care Equipment and Supplies Market to Reach US$ 11 Billion by 2017, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) November 16, 2011
Follow us on LinkedIn – Respiratory care market occupies a significant position in the pharmaceutical sector, as respiratory dysfunction is among the most widespread healthcare problem globally. The incidence of respiratory conditions is further fueled by an expanding global population and growing industrialization. Products offered by the respiratory care industry are mainly used to examine, monitor, and treat respiratory ailments that may occur due to chronic obstructive pulmonary disease (COPD), trauma, or other diseased conditions that restrict the normal breathing capability of the affected person. Novel drugs and sophisticated equipment, with considerably higher treatment costs are likely to find favor in developed countries, while older devices continue to enjoy strong position in developing countries. Global respiratory care equipment and supplies market is currently on a recovery mode, after witnessing a slowdown owing to the global economic downturn in recent years. The market stands to gain from the strong demand emanating developing regions of Asia-Pacific, Latin America and the Middle East. Growing awareness of sleep apnea and other sleep related diseases is likely to boost overall demand for the respiratory equipment market.
As stated by the new market research report on Respiratory Care Equipment and Supplies, the US continues to remain the largest regional market. Increasing incidence of respiratory diseases among Americans, high degree of morbidity, mortality, and rising expenses associated with effective treatment of respiratory disease, is driving the development of novel diagnostic, monitoring, therapeutic, and management information systems and products for acute, sub-acute and home care settings. Asia Pacific is poised to register the fastest CAGR of 9.5% over the analysis period, driven by the rapid economic growth, particularly in China, rising standards of living, and continuous efforts to improve healthcare facilities and equipment.
As more and more elderly patients inflicted with respiratory problems seek to lead an active lifestyle, manufacturers explore possibilities of developing portable, compact, and lightweight oxygen delivery systems designed to enhance patient mobility and address lifestyle changes in general. Rapid technological advancements, especially in the oxygen concentrator systems are beginning to yield greater reliability and convenience to the patient community. Globally, CPAP/Bi-Level Devices represents the largest product segment. Demand for respiratory devices, widely used in transport, home healthcare and healthcare institutions, is expected to rise driven by aging population and increasing numbers of patients with respiratory diseases such as COPD and OSA. The market for Sleep Apnea Diagnostic Devices represents the fastest growing segment in the global market, with a CAGR a 7.9% over the analysis period. Rising awareness about sleep apnea among patients and physicians and availability of reimbursement coverage is driving the demand for sleep apnea diagnostic devices.
Major players in the marketplace include AirSep Corporation, CareFusion Corporation, Cipla, Compumedics Limited, Covidien Ltd, Dräger Medical AG & Co. KG, DeVilbiss Healthcare, Fisher & Paykel Healthcare Corporation Limited, GE Healthcare, Getinge AB, Hamilton Medical AG, Invacare Corporation, Medical Graphics Corporation, nSpire Health™ LLC, Philips Healthcare, ResMed Inc., and VORTRAN Medical Technology 1, Inc.
The research report titled “Respiratory Care Equipment and Supplies: A Global Strategic Business Report” announced by Global Industry Analysts, Inc. provides a comprehensive review of trends, issues, strategic industry activities, and profiles of major companies worldwide. The report provides market estimates and projections (US$ Million) for product segments Pulmonary Function Testing Equipment; Spirometers; Sleep Apnea Diagnostic Devices; Ventilators; Humidifiers; Nebulizers; CPAP/Bi-level Devices; Oxygen Equipment; Manual Resuscitators; and Masks, Circuits & Disposables, across geographic markets such as US, Canada, Japan, Europe (France, Germany, Italy, UK, and Rest of Europe), Asia-Pacific, Middle East, and Latin America.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Respiratory_Care_Equipment_and_Supplies_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world’s largest and reputed market research firms.
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