Respiratory Care Devices Market 2020 Global Share, Trend Analysis And Opportunities Forecast To 2025

May 5, 2020 — Global North America Home Healthcare Market was valued at USD 756.8 million in 2014 owing to the increasing geriatric population, increasing chronic diseases and high disposable income for health care expenditure.

Home healthcare is particularly referred as home medical care and usually involves assisting the elderly population to recover from illnesses or injuries and allow them to live independently for as long as they can.

It also assists other adults with activities like dressing, eating, bathing, daily living, cleaning, cooking, housekeeping tasks and monitoring one’s medication routine.

Personalized medical assistance to control treatment expenditure is predicted to boost North America home healthcare market with a CAGR of 10.09% in the forecast period.

The increase in demand for affordable healthcare delivery systems because of rising healthcare costs, technological modernizations and government initiatives to promote home healthcare is also expected to drive North America home healthcare industry.

Conversely, limited insurance coverage, unstable reimbursement policies, and patient’s safety concerns are few factors that may restrict the growth of the market.

According to research report the Medical Device Outsourcing Market is expected to reach $91.3 billion by 2024 from an estimated $55.0 billion in 2019, at a CAGR of 10.6%.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=170622851 Factors such as increasing automation in the manufacturing of medical devices and advanced technologies integrating electronics and medical devices are expected to drive the growth of the medical device outsourcing market.

The increased connectivity and data-gathering capabilities of these technologies make it possible to build high-volume, regulation-compliant manufacturing processes with efficient inventory and production management.

With the increasing adoption of Industry 4.0 technologies in manufacturing critical and sophisticated medical devices, the medical device outsourcing market is expected to grow significantly during the forecast period.

By service type, the device development and manufacturing services segment is estimated to account for the largest share of this market in 2019 In 2019, the device development and manufacturing services segment is expected to account for the largest share of the global medical device outsourcing market.

The IVD devices segment is expected to account for the largest share of the medical device outsourcing market in 2019 In 2019, the IVD devices segment is likely to account for the largest share of the medical device contract manufacturing market.

The global therapeutic respiratory devices market is anticipated to reach USD 18.0 billion by 2025, according to a new report by Grand View Research, Inc.

Growing geriatric population base, rising prevalence of respiratory diseases, and rapid technological advancements are the key factors that are driving the market growth.The therapeutic respiratory devices market growth is anticipated to increase due to rapid technological advancements in the market.

Now-a-days, the respiratory monitoring devices utilize software applications for the collection and analysis of data from ventilators equipped across the health system.

The tools in the software application allow improvised patient monitoring by the measurement of parameters such as process and clinical variation in the ventilator therapy.Furthermore, waveform capnography is a useful technical advancement in monitoring the carbon dioxide levels.

The launch of new products such as automated and stand-alone pressure controller for mechanical ventilators boost the growth of therapeutic respiratory devices market.

These pressure controllers enable reduction in the risk of tracheal injuries and Ventilator Associated Pneumonia (VAP).

The primary reason for the sector to witness significant growth is due to the rising end-user demand from medical and pharmaceutical industries.

However, rising need of clinical data requirement for the product development, and growing insufficient reimbursement policies for sensor devices are few factors projected to challenge the market and thus hindering its growth over the forecast period.On a contrary, rising need for sensors in domestic as well as in clinics applications for the treatment and diagnostic purposes are projected to drive the market growth over the next seven years.

The increasing adoption of strip and wearable medical sensors that help in continuous patient diagnosis is expected to open new opportunities in the industry, thus boosting the growth by 2020.Product InsightsThe disposable medical sensors industry is majorly segmented by product into temperature sensors, biosensors, accelerometers, pressure sensors, and image sensors.

On the other hand, biosensors are anticipated to account for the largest market share of more than 65% over the next seven years primarily due to the growing usage of endoscopy products such as camera pills and increasing need of endoscopic procedures for numerous medical operations.The market is also bifurcated by placement of sensors into strip sensors, implantable sensors, invasive sensors, ingestible sensors, and wearable sensors.

Strip sensors are anticipated to account for a major market share of more than 45% over the next seven years and thus reaching USD 2.94 billion by revenue in 2020.

The aforementioned factors are attributed to expect significant sector growth over the next seven years.Regional InsightsNorth America and Europe are anticipated to witness major market share of more than 50% over the forecast period owing to the growing need to curtail escalating healthcare costs, rising number of incidence of HAIs and increasing use of portable medical devices for the homecare medical applications.

The lithotripsy devices market is projected to continue its steady growth due to the burgeoning cases of kidney stones, coupled with the surging demand for minimally invasive medical treatments.

According to Fact.MR report, the lithotripsy devices market is anticipated to accelerate at 4.3% CAGR during 2018-2026 to reach a value of US$ 1,095.2 MN by the end of 2026.

In recent past, lithotripsy has become the most preferred way of treating kidney stones, owing to myriad advantages of lithotripsy devices, such as low cost, relative safety, negligible recovery time and positive results.Important regions covered in the lithotripsy devices market report include:North America (Canada, US)Latin America (Argentina, Mexico)Europe (NORDIC, UK)Japan and MEAAPEJ (China, India)The lithotripsy devices market report also provides data regarding the key countries in the defined regions.Surging Incidence of Urolithiasis to Boost Sales of Lithotripsy DevicesUrolithiasis is a widely prevalent urologic issue, which constitutes considerable burden on the healthcare system across the globe.

According to Fact.MR report on lithotripsy devices market, apart from widespread prevalence, urolithiasis has been linked to an increased risk of end-stage renal failure, which has further accelerated the demand for lithotripsy devices.

As per the U.S. National Institutes of Health, urolithiasis affects roughly 12% of the worldwide population once in lifetime.

The report opines that the growing prevalence of kidney stones is likely to drive the growth of lithotripsy devices market during the forecast period.