Respiratory Care Equipment & Supplies: A Global Strategic Business Report
San Jose, CA (Vocus) October 7, 2010
Respiratory care market occupies a significant position in the pharmaceutical sector, as respiratory dysfunction is among the most widespread healthcare problem occurring globally, with industrialization and growing population being the two major drivers. The global market represents a two-tiered structure, with novel drugs and sophisticated equipment providing thrust in the developed countries, while older devices and low-end equipment continue to enjoy strong position in developing countries. Products offered by the respiratory care industry are used to examine, monitor, and treat respiratory ailments that may occur due to chronic obstructive pulmonary diseases (COPD), trauma, or other diseased conditions. There are an estimated 400-600 million COPD patients across the globe, while more than 290 million people across the world are estimated to suffer from asthma. COPD has already achieved the dubious distinction of being the fastest growing cause of death in the United States.
The respiratory care equipment market is not completely immune to the vagaries of the economic conditions and suffered a minor hiccup as the global credit crunch resulted in postponement and curtailment of medical equipment by hospitals and surgery centers. In particular, the market witnessed decline in heavy and expensive equipment. However, the market is expected to quickly recover its poise owing to the strong demand in healthcare, particularly from developing regions including Asia-Pacific, Latin America and the Middle East. Apart from the traditional growth drivers such as growing industrialization, rising incidence of smoking, increasing proportion of older population, desire for an active lifestyle among the old, and growing awareness about respiratory ailments such as obstructive sleep apnea (OSA), other factors fueling growth in respiratory care market include growth in homecare solutions and advancement in technology.
The US represents the largest markets for respiratory products, as stated by the new market research report on Respiratory Care Equipment & Supplies. Developing countries in Asia-Pacific and Latin America are propelling growth in the respiratory care market, emerging as the fastest growing regions. Fostered by the increasing standard in living, rising awareness, and easy availability of healthcare facilities, the Asia-Pacific market for respiratory care equipment is forecast to register CAGR of more than 8.0% over the analysis period.
Within the respiratory care equipment & supplies market, Oxygen Equipment accounts for the largest market share. A paradigm shift in demand is emerging in the global ventilators market, where demand is presently driven by the homecare segment. Though ventilators is a mature market in industrialized regions such as the US and Western Europe, continued increase in incidence of respiratory disorders and diseases, indicates that this market is unlikely to peter out anytime in the near to far future. There is a clear change in profile of end-users that now come from emerging economies, demanding cost-efficient equipment. Ventilators market in Asia-Pacific is projected to reach US$100 million by the year 2015. Sleep Apnea Diagnostic Devices and CPAP/Bi-Level Devices represent the fastest growing segments. As awareness continues to increase, the market for sleep apnea devices is expected to witness substantial increase in the near future.
Intense competitive conditions in the highly fragmented respiratory care products industry has resulted in consolidation. ResMed Inc., the leading respiratory devices producer in the world market, holds a strong position in humidifiers and PAP devices segments. Other major players profiled in the report include AirSep, CareFusion Corporation, Compumedics Limited, Covidien, Dräger Medical AG & Co., DeVilbiss Healthcare, Fisher & Paykel Healthcare Corporation Limited, GE Healthcare, GETINGE AB, Hamilton Medical AG, Invacare, MAQUET GmbH & Co., Philips Respironics, and ResMed, Inc. India, Taiwan, and China are the emerging economies, and players from these countries are competing with the international players, leading to price reductions.
The report titled “Respiratory Care Equipment & Supplies: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of respiratory therapy equipment, respiratory diagnostics, research & development, competition, pulmonary equipment tests, product overview, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in value sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key segments analyzed include Pulmonary Function Testing; Spirometers; Sleep Apnea Diagnostic Devices; Ventilators; Humidifiers; Nebulizers; CPAP/Bi-Level Devices; Oxygen Equipment; Manual Resuscitators; and Masks, Circuits & Disposables.
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 reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/
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