Global Respiratory Drugs and Devices Market Research and Forecast, 2018-2023
Global respiratory drugs and devices market size, share, market intelligence, company profiles, market trends, demand, strategy, growth, analysis, forecast 2018-2023
According to the OMR analysis, the global respiratory drugs and devices market is expected to grow impressively with a CAGR of 7% during the forecast period, 2018-2023. The global respiratory drugs and devices market has witnessed a significant growth due to high prevalence of chronic respiratory diseases and growing ageing population. The global respiratory drugs and devices market is segmented on the basis of product, respiratory drugs, end users and geography. The report provides detailed and insightful chapters on market overview, key findings, strategic recommendations, market estimations, market determinants, sector analysis, gap analysis, key company analysis, market insights, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.
The global respiratory drugs and devices market is showing significant growth due to the rising prevalence of respiratory chronic diseases such as asthma, allergic rhinitis, COPD, pulmonary hypertension and fibrosis. According to the World Health Organization (WHO), 300 million people of all ages worldwide have asthma. The prevalence of asthma has increased following changes to modern and urban lifestyle. Globally, 250,000 people die due to asthma every year and the deaths are related to lack of proper treatment. This in turn, is contributing to the adoption of respiratory drugs and devices to manage and treat asthma and live a normal life. Moreover, the prevalence of COPD has also increased significantly. For instance, according to WHO, there were 251 million COPD cases were reported across the globe in 2016. Moreover, it was estimated that 3.17 million deaths were caused due to COPD in 2015, which is 5% of all deaths across the globe in 2016. The major risk associated with the COPD is tobacco, smoking and solid fuels used for cooking and heating. This increase in the prevalence of respiratory disorders is expected to boost the growth of the global respiratory drugs and devices market. Another factor that is impacting the global respiratory drugs and devices market include significant growth in ageing population. As per WHO, in 2010, an estimated 524 million people were aged 65 or older, which is 8% of the world's population. This number is expected to nearly triple to 1.5 billion in 2050, represents 16% of the total population. The elder population are mainly prone to respiratory diseases due to age-associated changes in the function and structure of the lung. Hence, this remarkable phenomenon is giving rise to the spread of respiratory and other health threats.
Technology is expanding by leaps and bounds and the leading players in the global respiratory drugs and devices market are looking forward to providing a novel and advance medical drugs and devices to facilitate patient care. The major key players in the global respiratory drugs and devices market include Koninklijke Philips N.V., Novartis AG, GlaxoSmithKline plc, AstraZeneca plc, Covidien Plc, Merck and Co., Inc., Pfizer, Inc. and F. Hoffmann-La Roche Ltd. High Price and stringent government regulation may hamper the growth of the market in future. However, the rising demand for remote monitoring and home care products has created a significant scope for the market. Geographically, the global respiratory drugs and devices market is segmented into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). North America is the leader in the global respiratory drugs and devices market. The region has been primarily driven by some crucial factors, such as a considerable rise in the incidence of respiratory disease, high sale of branded drugs and a significant number of patients diagnosed and treated with respiratory diseases. North America market is followed by Europe, Asia-Pacific and Rest of the world. Asia Pacific market is expected to witness lucrative growth during the forecast period. APAC market is mainly driven by the growing geriatric population and respiratory problems. The factors such as increasing air pollution and changing lifestyle are also driving the APAC respiratory drugs and devices market.
The report covers
Comprehensive research methodology of Respiratory Drugs and devices market
In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global Respiratory drugs and devices market
Insights about market determinants which are stimulating the global Respiratory drugs and devices market
Detailed and extensive market segments with regional distribution of forecasted revenues
Extensive profiles and recent developments of market players
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