Respiratory Disposables Market to Reach US$ 1.8 Bn by End of 2031: Transparency Market Research, Inc. Study
Rise in prevalence of respiratory disorders is likely to drive the global respiratory disposables market
Wilmington, Delaware, United States, , Feb. 09, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. –The global respiratory disposables market is likely to grow at a CAGR of 5.2% between 2022 and 2031. Respiratory disposables are single-use medical devices utilized for assisting patients in breathing and delivering anesthesia, oxygen, and other respiratory treatments. Respiratory disposables prevent the spread of infection, which is a key factor augmenting market growth.
The outbreak of COVID-19 and its rapid spread resulted in a surge in demand for personal protective equipment and respiratory disposables such as respirators and face masks. This was necessary to control and prevent the spread of the disease. The pandemic created a continuous demand for respiratory disposable devices and products as it was necessary for COVID patients to receive medical attention in hospital facilities. Thus, the advent of the COVID pandemic led to significant revenue generation in the respiratory disposables market.
According to the TMR report, the global respiratory disposables market value stood at US$ 1.1 Bn in 2021 and is projected to reach US$ 1.8 Bn by the end of 2031.
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Key Findings of Study
Increase in Prevalence of Respiratory Diseases: An increase in the number of people suffering from respiratory disorders across the world is anticipated to propel industry growth. Air pollution and diseases, such as obstructive sleep apnea (OSA), lung cancer, chronic obstructive pulmonary disease (COPD), and asthma, are caused due to smoking or inhaling polluted air for a prolonged period. This is anticipated to propel the demand for respiratory treatment in hospitals, which in turn is expected to create lucrative business opportunities in the respiratory disposables market during the forecast period.
Rise in Healthcare Expenditure: Increase in focus on improving the overall healthcare infrastructure and facilities resulted in high medical expenditure. This, in turn, promoted the adoption of home healthcare services for people in low- and middle-income groups to ensure the necessary medical attention for their family through cost-efficient and convenient home healthcare services. This increased the usage of disposable medical products, such as respiratory disposables, which is anticipated to boost market size during the forecast period.
Key Drivers
Rise in cases of respiratory diseases likely to drive market growth during the forecast period
An increase in adoption of home healthcare services is anticipated to propel industry growth
A surge in the number of smokers, which leads to breathing disorders, is likely to augment the market in the near future
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Regional Growth Dynamics
North America held the largest global market share in 2021. The trend is projected to continue during the forecast period. This is ascribed to high patient pool and better facilities offered by governments in Canada and the U.S.
The presence of major vendors is anticipated to bolster market expansion in North America during the forecast period
Rise in geriatric population and increase in the prevalence of respiratory disorders augment demand for medical disposables, which in turn is likely to augment the market in the region
Presence of large population in middle- and low-income countries is propelling the adoption of home healthcare services in emerging economies, such as India, Japan, and China. This presents significant business opportunities in the market in Asia Pacific.
Key Players
Prominent players in the global respiratory disposables market include
GF Health Products, Inc.,
Dynarex Corporation,
ResMed,
Besmed Health Business Corp.,
Teleflex Incorporated,
Koninklijke Philips N.V.,
Armstrong Medical,
Ambu A/S,
BD, Fisher & Paykel Healthcare Limited, and ICU Medical, Inc.
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Respiratory Disposables Market Segmentation
Product-
Mouthpieces & Oxygen Masks
Nasal Cannulas & Tubing
Suction Catheters
Disposable Liners & Canisters
Others
Application-
COPD
Asthma
Occupational Lung Diseases
Others
End-user-
Hospitals
Clinics & Nursing Homes
Others
Region-
North America
Europe
Asia Pacific
Middle East & Africa
South America
Country-
U.S.
Canada
Germany
U.K.
France
Japan
China
India
South Korea
ASEAN
Brazil
GCC
South Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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