(PharmaNewsWire.Com, June 20, 2017 ) The Asia-Pacific Respiratory Devices Market was worth $3.34 billion in 2016 and estimated to be growing at a CAGR of 9.93%, to reach $5.36 billion by 2021. People with respiratory disorders entail the need for respiratory devices.
Respiratory devices are medical devices that are used to aid patients who are suffering from respiratory problems and cannot attain sufficient oxygen levels to sustain life. The devices are used in chronic obstructive pulmonary diseases (COPD), a deteriorating lung disease which mainly includes chronic bronchitis, and emphysema.
The growth of the Asia-Pacific Respiratory Devices Market is mainly driven by factors such as an increase in the prevalence of respiratory diseases such as asthma and COPD, rising government support for device manufacturing companies, increasing disposable income, and rising aging population. However, poor accessibility of proper care, lack of public awareness, and high costs associated with the purchase and operation of such devices are the main factors hindering the growth of the market in this region.
The Asia-Pacific Respiratory Devices market is segmented based on Type. The market for Respiratory Devices, on the basis of type, is segmented into Therapeutic Devices, Diagnostic and Monitoring Devices, and Disposables. On the basis of Therapeutic Devices, the global Respiratory Devices market is segmented into BI-PAP Devices, Nebulizers, Ventilators, Resuscitators, CPAP Devices, Humidifiers, Oxygen Concentrators, Inhalers. On the basis of Diagnostic and Monitoring Devices, the Asia-Pacific Respiratory Devices market is segmented into Sleep Test Devices, Pulse Oximeter, Spirometers, Peak Flow Meters, Capnographs. On the basis of Disposables, the global Respiratory Devices market is segmented into Cannulas, Filters, Masks, Tubes, Breathing Circuits. Based on End Users the Asia-Pacific Respiratory Devices market is segmented into Hospitals and Home Care.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. The Asia-Pacific Respiratory Devices market is projected to grow at the highest CAGR during the forecast period due to reasons such as increasing healthcare expenditure, rapidly developing healthcare infrastructure, increasing per capita incomes, and growing middle-class population in the emerging countries of this region. China is the largest market for Respiratory Devices in this region. As a result of its high propensity for respiratory diseases, India is also viewed as a potential target for respiratory device makers.
The major companies dominating the respiratory Devices market in this region are Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation.
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