The market generated sales of $4.1bn in 2011. Key factors in the growth of this market will be the global aging population and the continued rise in chronic diseases and conditions such as obesity and diabetes, which continue to be considered significant risk factors in the development of several respiratory diseases. The therapeutic respiratory devices market is one of the fastest growing markets in the medical device industry. The market is currently comprised of innovative respiratory devices for the treatment of a wide range of disorders that include asthma, COPD, pulmonary fibrosis as well as sleep disorders such as Obstructive Sleep Apnea (OSA).
Rodrigo Gutierrez Gamboa, healthcare industry analyst, says: “Technological advancements and patient demand for homecare products that are more compact and user-friendly have propelled the field of respiratory devices in recent years. Furthermore, research regarding the causes of many respiratory disorders as well as their associations with other chronic conditions continues to accelerate. This will spur the introduction of innovative technologies for the treatment of a wide range of respiratory diseases that will drive the market forward in the coming years. Emerging markets will provide a significant commercial opportunity for companies operating in this industry as we expect them to continue expanding with a double-digit CAGR over the next decade”.
Visiongain’s research also suggests that the world therapeutic respiratory devices market may benefit from globalisation. There has been a steady rise in healthcare spending and medical insurance cover in countries such as Brazil, Russia, India and China (BRIC nations), owing to their rapidly growing economies. As a result, a greater proportion of the patient population will now be able to afford the treatments available, which will further strengthen demand in this sector.
Visiongain predicts that this market will grow steadily to 2022. The future of the therapeutic respiratory devices market appears promising and has significant potential for growth and investment with the increasing demand for safer and cost-effective therapies. This new report adds to visiongain’s wide range of analytical reports in healthcare and other industry areas.
For further information concerning the Visiongain’s Therapeutic Respiratory Devices: Global Market Outlook 2012-2022 report please visit http://www.visiongain.com/Report/905/Therapeutic-Respiratory-Devices-Global-Market-Outlook-2012-2022
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