Global Respiratory Care Medical Devices Market: Insights and Forecast Impact of COVID-19 (2022-2026)

DELHI, India - Oct. 10, 2023 - PRLog -- A respiratory illness, often known as a respiratory disease, refers to a category of pathogenic disorders that influence breathing in living organisms. Respiratory care devices are a kind of medical equipment that is used to treat, manage, regulate, diagnose, and care for patients with cardiopulmonary system disorders.

The ageing population, growing incidence of chronic respiratory disorders, unhealthy lifestyles, particularly among the urban population, high frequency of smoking, and other reasons have all led to the expansion of the respiratory care medical devices market. Respiratory care equipment can be used in both home care and hospital settings. The rising number of hospitals throughout the world has also led to increased demand for respiratory care devices. The global respiratory care medical devices is estimated to rise to US$24.08 billion in 2023, growing at a CAGR of 8.70% during the forecast period.

Top Impacting Factors:

Growth Drivers

• Rapid Growth in Aging Population  
• High Prevalence of Respiratory Diseases  
• Increasing Healthcare Expenditure
• High Prevalence of Smoking    

Challenges

• Lack of Awareness of Respiratory Conditions
• Excise Tax Levied on Devices      

Trends

• Growing Demand for Point-of-Care Diagnostic Devices
• Integration of Artificial Intelligence (AI) in Respiratory Care
• Increasing Demand for Enhanced Portable Devices
• Technological Advancements in Mechanical Ventilators  

Analysis of Key Players:

The global respiratory care medical devices market is consolidated. The key players in the global respiratory care medical devices market are:

• Fisher & Paykel Healthcare
• Medtronic Plc
• Koninklijke Philips NV
• Masimo Corporation
• Invacare Corporation
• ResMed Inc.
• Teleflex Incorporated
• Hamilton Medical AG
• Allied Healthcare Products Inc.
• React Health, Inc.
• Acare Technology Ltd.
• Drägerwerk AG & Co. KGaA

Vendors working in the respiratory care medical devices market are focused on the development of new and advanced respiratory products. Some of the strategies among key players in the market for respiratory care medical devices are partnerships, mergers, acquisitions, and collaborations. For instance, in 2022, ResMed Inc. announced the acquisition of MEDIFOX DAN, a German company that provides out-of-hospital software solutions for providers in major settings across the care continuum.

For more Information:

https://www.konceptanalytics.com/report/pharma-healthcare/global-respiratory-care-medical-devices-market-by-disorder-product-type-end-user-region-insights-and-forecast-with-potential-impact-of-covid-19-2022-2026

Koncept Analytics

Vikas Gupta

(Business Development Manager)

FFCS-36, Ansal Plaza

Vaishali, Ghaziabad

U.P - 201010

Tele: +91-120-4130959

Mobile: +91-8700242734

Mail ID – vikas@konceptanalytics.com