Global Respiratory Care Devices Market will be US$ 30.5 Billion by 2025
According to the latest report by Renub Research, titled "Respiratory Care Devices Market Global Analysis by Product, Type, Region, Companies" captures a detailed analysis of the Respiratory Care Devices Market.
The market for respiratory care devices will grow in the upcoming years. This market's growth is mainly due to the high prevalence of respiratory diseases, the growing ageing population worldwide, the high prevalence of smoking, the increasing level of urbanization and pollution, the increasing incidence of preterm births, and changes in lifestyles. There is a sudden growth in the demand for respiratory treatment products due to the global outbreak of the coronavirus. By 2025, the Respiratory Care Devices Market will be US$ 30.5 billion, according to Renub Research report.
Nevertheless, a lack of knowledge leading to a significant undiagnosed and untreated population and the damaging impact on some respiratory care devices' neonates have hampered market growth to some degree.
COVID-19 Effects on the Global Demand for Respiratory Care Devices
In Wuhan, China, the COVID-19 outbreak led to the rapid establishment of several hospitals to treat a growing number of patients. Italy and the U.S. have constructed large hospitals within days to serve an increasing patient population. This has been replicated in other countries as well. The army turned the Javits convention centre into a 2,900-bed hospital in New York, USA, within four days. To meet rising demand, critical care devices are being produced in mass quantities. Government agencies have led to partnerships to make respiratory treatment devices between the healthcare and non-healthcare industries.
The demand for respiratory treatment is directly affected by infectious respiratory diseases. COVID-19 is the most recent and essential of these diseases; the pandemic has contributed, among other things, to a rise in demand for personal protective equipment and ventilators.
Growing Demand for Therapeutic Devices in Home Care
The sudden growth of the global geriatric population, the growing prevalence of chronic diseases (including COPD and asthma), and the cost benefits of home care facilities and services (compared to hospital visits) are key factors of the home healthcare industry's growth.
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Some of the major factors that are expected to generate significant growth opportunities for players operating in the respiratory home healthcare market are the high growth potential in emerging markets, healthcare decentralization, and the evolution of miniaturized devices.
The number of patients suffering is growing from chronic respiratory disorders choose to seek treatment in-home care facilities because of the growing healthcare costs. This trend is expected to increase the demand for products such as nebulizers, ventilators and CPAP devices, as a number of respiratory disorders in-home care settings are used by patients to treat, diagnose and control them.
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