Respiratory Devices Market is grown at 9.1% CAGR between 2021 and 2031 - Comprehensive Research Report by FMI 

DUBAI, United Arab Emirates, Rising prevalence of chronic obstructive pulmonary disease (COPD) and obstructive sleep apnea has been increasing the demand for respiratory devices. Future Market Insights (FMI) in a new study has forecast the Respiratory Devices Market to continue exhibiting high demand through 2031. While 2020 has proven exceptionally crucial to the market, growth will remain positive 2021 onwards, despite declining a little in comparison to remarkable sales recorded in 2020 amid COVID-19 outbreak.

Increasing prevalence of sleep disorders, especially in the U.S. and other European countries, creates lucrative growth opportunities for the sleep testing respiratory devices market. According to the National Healthy Sleep Awareness Project, around 25 million adults in the U.S. were suffering from sleep apnea. Continuous focus on the market introduction of technologically advanced respiratory devices such as nebulizers, pulse oximeters and spirometers is expected to drive the respiratory devices market growth during the forecast period.

Request a report sample to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-794

Growing preference for smart or wearable respiratory devices over general respiratory devices in developed countries also creates a significant opportunity for global market players operating in the respiratory devices market. Adoption of portable devices for neonatal and adults suffering respiratory diseases is growing respiratory devices demand. For instance, Patients suffering from chronic respiratory diseases require continuous oxygen supply. A portable oxygen concentrator has several other benefits such as lightweight, small shape and easy to carry, which makes it the best choice of device.

Hospitals are likely to remain chief end users of respiratory devices. They have been relentlessly offering patient care amid COVID-19 outbreak. Even as numbers of COVID-19 patients soared, healthcare centers around the world pushed through challenges to offer required care. Hospitals therefore accounted for a little above 40% of respiratory devices sold in 2020. By 2031, the number of respiratory devices sold in hospitals is expected to rise further.

Key Takeaways of Respiratory Devices Market Study

  • Respiratory devices market will exhibit impressive growth through 2031. The market is forecast to exhibit 9.3% CAGR in 2021
  • U.S. will remain the most lucrative market, accounting for almost 87% of respiratory devices sold in North America
  • UK will exhibit impressive Y-o-Y growth at 10.5% in 2021
  • Germany and France will continue exhibiting high demand for respiratory devices
  • China and Korea will remain bright spots in East Asia market, however, Japan will remain dominant through the forecast period

For any Queries Related with the Report, Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-794

Partnerships to Develop New Products - Imperative Strategy for Market Players

Leading manufacturers of the respiratory inhaler are focusing on strategic partnerships with software and digital companies to serve the selected population. Besides, such collaborations also help manufacturers improve their distribution channels as well as to launch their products. For instance, In June 2020, Medtronic plc entered into a partnership with Foxconn Industrial Internet to begin manufacturing Medtronic’s Puritan Bennett 560 (PB560) ventilators in the United States.

Similarly, Smith’s Medical has signed a distribution partnership with Medline Industries for distribution of the Portex acapella, a vibratory PEP therapy device to focus on the non-acute and home care channels in 2019.

We Offer tailor-made Solutions to fit Your Requirements, Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-794

Future market insights offer a unique perspective and actionable insights on Respiratory Devices market in its latest study, presenting historical demand assessment from 2016 – 2020 and projections from 2021–2031 based on product type (Respiratory Consumables, Nebulizers, Oxygen Concentrators, Positive Airway Pressure (PAP) Devices, Polysomnography Devices, Pulse Oximeters, Mechanical Ventilators, Spirometers), by end-users (hospitals, ambulatory surgical centres, clinics, long term care centres and others) in seven key regions.

Explore FMI’s Extensive ongoing Coverage on Healthcare Domain

Non-Invasive Respiratory Monitoring Market - According to the latest research by the Future Market Insight, The Non-Invasive Respiratory Monitoring market is set to witness a Soaring growth in the forecast period 2021-2031 at a CCAGR of 8%.

Home Respiratory Therapy Market - The assistance and help provided by the respiratory therapist to people suffering from problems related to lung function and breathing as a part of respiratory care is respiratory therapy.

Opioid-Induced Respiratory Depression Market - The stimulation of µ-opioid receptors in brainstem respiratory centers on the surface of the neuron leads to opioid-induced respiratory depression. The group of interneurons in the ventral respiratory group of the medulla of the brainstem which is known as the pre-Bötzinger complex (preBötC).

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:

Future Market Insights,

1602-6 Jumeirah Bay X2 Tower,

Plot No: JLT-PH2-X2A,

Jumeirah Lakes Towers, Dubai,

United Arab Emirates

For Sales Enquiries: sales@futuremarketinsights.com

For Media Enquiries: press@futuremarketinsights.com

Website: https://www.futuremarketinsights.com/

Report: https://www.futuremarketinsights.com/reports/respiratory-devices-market

Press Release Source: https://www.futuremarketinsights.com/press-release/respiratory-devices-market

Back to news