Report : Pulmonary Devices Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Type (Therapeutic Devices, Consumables and Accessories, Diagnostic Devices, Monitoring Devices); Application (Chronic Obstructive Pulmonary Disease (COPD), Sleep Apnea, Asthma, Infectious Diseases, Others); End User (Hospitals, Homecare Settings, Ambulatory Care Centers), and Geography
Market for Consumables and Accessoriesto Grow at Highest CAGR during 2020–2027
According to our latest study on “Pulmonary Devices MarketForecast to 2027– COVID-19 Impact and Global Analysis– by type, application, and end user,”the market was valued at US$ 18,598.56 million in 2019 and is projectedto reach US$ 39,965.01 millionby2027; it is expected to grow at a CAGR of 10.1%during 2020–2027. The report highlights trends prevailing in the global pulmonary devicesmarket,and the drivers and hindrances pertaining to the market growth.
The global pulmonary devicesmarket,based on type, is segmented into therapeutic devices, consumables and accessories, diagnostic devices, and monitoring devices.The therapeutic devicessegment held the largest share of the market in 2019, and this growth is ascribed tothe increasing demand of inhalers and nebulizers by patients suffering with asthma and chronic obstructive pulmonary disorders. However, the consumables and accessoriessegment is estimated to register the highest CAGR during the forecast period. Also, the impact of the COVID-19 crisis is expected to further accelerate the growth of the respiratory devices market.Critical care devices are being manufactured in increased quantities to meet growing demand. The state of affairs resulting from the pandemic has resulted in alliances between healthcare and non-healthcare industries to manufacture respiratory care devices. Moreover, the US FDA has authorized the use of CPAP and similar devices to help cover the forecasted shortage of ventilators in COVID-19 treatment.
The growth of the pulmonary devicesmarket 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 devicesrestrain 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 devicesmarket.
The report segments global pulmonary devices market as follows:
By End User