Press release
Pulmonary Devices Market: Analysis 2020-2027 by Types, Applications and 20 Key Players (Inogen Inc., Invacare Corporation, O2 Concepts, GCE Group, Besco Medical More)
The growth of the pulmonary devices market is attributed to factors such asrising number of COVID-19 cases worldwide and increasing prevalence of respiratory diseases. However, the unfavorable reimbursement scenario associated with the respiratory devices restrain the growth of the market. Koninklijke Philips N.V, Caire Inc. (Chart Industries), Inogen Inc., Invacare Corporation, O2 Concepts, Nidek Medical Types, Inc., Drive DeVilbiss International, GCE Group, Besco Medical, and Inova labs Inc. (ResMed) are among the leading companies operating in the global pulmonary devices market.
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The market was valued at US$ 18,598.56 million in 2019 and is projected to reach US$ 39,965.01 million by 2027; it is expected to grow at a CAGR of 10.1%during 2020–2027. The report highlights trends prevailing in the global pulmonary devices market,and the drivers and hindrances pertaining to the market growth.
The report segments global pulmonary devices market as follows:
By Type
- Therapeutic Devices
- Consumables and Accessories
- Diagnostic Devices
- Monitoring Devices
By Application
- Chronic Obstructive Pulmonary Disease (COPD)
- Sleep Apnea
- Asthma
- Infectious Diseases
By End User
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
Pulmonary or respiratory devices are used to remove mucus and secretions from the airways or the respiratory tract. These medical devices are focused on diagnosis, control, treatment, management, and evaluation of the problems associated with respiratory tract. The pulmonary devices market growth is mainly attributed to the rising number of COVID-19 cases worldwide and increasing prevalence of respiratory diseases. Moreover, strategic activities by the manufacturers such as type innovation, type launches, and approvals, as well as R&D investment for advancements in ventilators are further expected to foster the market growth during the forecast period. However, unfavorable reimbursement scenario limits the growth of the market.
The impact of the COVID-19 crisis is expected to further accelerate the growth of the respiratory devices market in Europe. For instance, Apex Medical is focused towards providing CPAP ventilator solutions as COVID-19 treatment alternative as per the British Medicines and Medical Products Regulatory Agency (MHRA) to the patients with respiratory insufficiency. Additionally, In the United Kingdom (UK), for example, the government has asked automobile manufacturers including Ford, Honda, and Rolls-Royce to temporarily shift part of their assembly line focus from cars to developing respiratory equipment.
Market Insights
- Rising Number of COVID-19 Cases Drives Pulmonary Devices Market Growth
- Type-Based Insights
- Application-Based Insights
- End User-Based Insights
- Strategic Insights
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Life Science, Technology, Healthcare, Manufacturing, Automotive and Defense, Food Beverages, Chemical etc.
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