New York, NY (PRWEB) March 10, 2014
The 47 billion-dollar worldwide respiratory device market continues to grow mainly due to the aging of the world population and increasing incidence of respiratory diseases, according to Kalorama Information. The healthcare market research firm said the market which includes inhalers, oxygen systems, oximeters and other equipment will grow at 4.6% compound annual growth to 59 billion in 2018. The finding was made in Kalorama Information’s latest market research report, “The World Market for Respiratory Devices.”
The bulk of the revenue in this market is from the 36 billion-dollar inhaler market. Metered dose inhalers or dry powder versions are commonly used devices for treatment of asthma, chronic bronchitis, COPD, cystic fibrosis, or any lung disease characterized by chronic or acute inflammation. They consist of a micronized form of drug in a propellant under pressure with surfactants to prevent clumping of drug crystals.
“The market for inhalers continues to grow based on the aging of the world population, an increase in respiratory diseases and a general increase in conditions,” said Mary Anne Crandall, the author of the report. “Because of the ease of use and advancements in inhaler delivery, drug companies and drug delivery manufacturers are increasing interested in this technology.”
Airway and mask devices are a smaller portion of the market but will see faster growth, according to the report. Products such as endotracheal tubes; tracheostomy tubes, nasopharyngeal catheters and oxygen mask devices are used to supply oxygen, or to open and maintain an airway for oxygen delivery to conscious or unconscious patients. They are used during emergency rescues and during surgical anesthesia. Many of these products are disposable and used in hospital or homecare settings. New innovations in materials used for products are focusing on comfort and wearability such as Devilbiss’s EasyFit SilkGel Nasal™ and Full Face Mask and Teleflex’s Softech Plus™ nasal cannula.
“These are high-demand products and the revenue growth in this segment will be fifty percent faster than the overall market,” Crandall said.
The report says 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, due to growths of the relevant conditions.
The report covers many more segments, breaks out the market by geographic regions and discusses trends. It also profiles key companies in the market and makes important conclusions. “The Worldwide Market for Respiratory Devices” can be obtained from Kalorama Information at: http://www.kaloramainformation.com/Worldwide-Respiratory-Devices-8000474/.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.