Respiratory Care Devices Global Market Analysis by Type, Application With Forecast to 2026
Respiratory Care Devices Market
Respiratory diseases such as asthma, chronic obstructive pulmonary diseases (COPD), sleep apnea and others are increasing due to tobacco smoking, second-hand smoking, vehicular smoke emissions, urbanization, industrializations and changing lifestyle. To control these conditions the usage of respiratory devices are rising. The Respiratory care device is one of the parts of medical device which is used for diagnosis, treatment and monitoring purpose.
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The geographic market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Among these, North-America commanded the largest revenue in 2019. The market is expected to grow at a high single digit CAGR from 2019 to 2026 due to advancements in technology, demand for a respiratory disorder, healthcare expenditures by government reforms, and availability of skilled labors. Asia-Pacific is expected to grow at a strong double digit CAGR from 2019 to 2026. Asia-Pacific tends to be fastest-growing segment due to increase in investments in the healthcare sector and emerging economies which creates new opportunities.
The other factors influencing are incorporating new technologies, growing health awareness, expansion in healthcare industry, fast economic growth, increasing aging populations, High prevalence of tobacco smoking, Increasing medical expenditure, and health awareness improvements.
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Last Update : Nov 09, 2019
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