ROCKVILLE, Md., April 3, 2017 /PRNewswire/ -- Kalorama Information says that the world market for respiratory devices will experience moderate growth due to an increasing aging population and increasing respiratory diseases worldwide. Even though there is ongoing pressure to cut costs in 2017 and beyond, respiratory device growth outlook remains positive in the respiratory market, according to the market research publisher. The market encompasses many different products to help treat and monitor respiratory conditions as well as many large and small manufacturers. Respiratory devices have grown impressively in many of the categories over last few years. Continued demand for respiratory medical equipment will likely be fueled by rising incidence of respiratory diseases such as sleep apnea, asthma, and COPD. The bulk of the growth of the market is expected to arise from an increasing incidence of COPD worldwide and innovative products entering the market.
The size of the respiratory device market is 25.6 billion according to Kalorama's most recent report: The World Market for Respiratory Devices.
Products included in the worldwide respiratory device market are:
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Inhalers
Nebulizers
Airway/Mask equipment
Sleep apnea equipment
Oxygen therapy equipment and ventilators
Medical humidifiers
Respiratory measurement and diagnostic devices
The market also will grow thanks to the shifting trend towards the use of home care products for the graying population across the globe. The demand for respiratory devices in the United States will continue to escalate due to an aging population and prevalence of respiratory disease but will be tempered somewhat by reimbursement and cost cutting measures. In Europe, the outlook is cautious due to new European product directives but there is a drive to modernize healthcare systems in Europe. Market growth in Asia Pacific is likely to be highest in China due to higher standard of living, better healthcare and government investment in healthcare. Brazil is expected to contribute moderate to high growth over the forecast period due to investments in healthcare infrastructure and rising awareness of respiratory diseases and treatments. Advancements in respiratory devices along with a strong desire to maintain good health will positively influence the outlook for the world market for respiratory devices. Kalorama's report contains figures for COPD devices and sleep apnea markets.
