Growth of respiratory disposables market is attributed to increasing in product launches related to respiratory disposables & the outbreak of novel viruses
PORTLAND, OR, UNITED STATES, September 19, 2021 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Respiratory Disposables Market By Product, Patient Group, and End User: Global Opportunity Analysis And Industry Forecast, 2021–2030,” the global respiratory disposables market was valued at $1,285.4 million in 2020, and is projected to reach $3,340.7 million by 2030, registering a CAGR of 9.5% from 2021 to 2030.
Respiratory disposables are used for diagnosis and treatment of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, tuberculosis, and pneumonia. Respiratory disposables include laryngoscopes, masks, breathing bags, and other related consumables or accessories. These devices offer improved care to patients experiencing pain due to acute and chronic respiratory diseases. In addition, they are used for surgical procedures related to larynx or other parts of the upper tracheobronchial tree. The respiratory disposables such as masks can further be used as preventive options.
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Increase in incidence of respiratory diseases is a significant factor that contributes toward the growth of the global respiratory disposables market. In addition, the growth of the market attributable to surge in geriatric population who are at an increased risk of developing respiratory diseases. Moreover, alarming increase in pollution levels, rise in of tobacco smoking, sedentary lifestyle are anticipated to propel the growth of the industry. Furthermore, steep increase in the prevalence rate of preterm births and the advent of novel infectious diseases that distress respiratory system are expected to boost the growth of the respiratory disposables market in the next few years.
However, enforcement of stringent regulations regarding the use of respiratory diseases hinders the growth of the market. In addition, accessibility of low-cost products from local producers limits the market growth. Conversely, surge in need for home care therapeutic devices and point-of-care diagnostics is anticipated to offer potential growth opportunities for market during the forecast period.
The outbreak of the COVID-19 pandemic led to a massive economic de-growth due to its spread to masses. It is a large family of viruses that causes illness ranging from common cold to more severe diseases.
The overall impact of COVID-19 is projected to remain positive for respiratory disposables companies operating in the respiratory disposables industry. The key benefit of disposables includes the prevention of cross-contamination with the exposure of infectious viruses from patients to patients. Thus, increase in number of patients suffering from COVID-19 is expected to notably contribute toward the growth of the market in the coming years.
By product, the market is categorized into laryngoscope, tubes, breathing bag, masks, resuscitator, and others. The resuscitator segment dominated the global market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to surge in incidence of throat cancer and tumors developing into vocal chords. Furthermore, increase in use of consumables and accessories to be used with respiratory devices is a key factor contributing toward growth of this segment.
On the basis of patient group, the market is segregated into neonatal & pediatric, adult, and geriatric. Presently, the geriatric segment accounts for majority of the market share, owing to surge in geriatric population in both developed as well as developing countries and the weakening of immune system in older population, making them more susceptible to respiratory disorders.
Depending on end user, the market is categorized into hospitals, nursing homes, & clinics; trauma centers; and homecare. The hospitals, nursing homes, & clinics was the major contributor to the global market in 2020, and is anticipated to dominate during the forecast period. This is attributed to surge in number of outpatients and inpatients visiting hospitals. In addition, higher flow of patients due to awareness regarding the need for having respiratory disposables for preventive measures propels the segment growth.
KEY FINDINGS OF THE STUDY
• Depending on product, the resuscitator segment held largest market share in the global market in 2020.
• On the basis of patient group, the geriatric segment garnered the highest share in 2020, and is expected to remain dominant throughout the forecast period.
• By end user, the hospitals, nursing homes, & clinics was the largest contributor to the market in 2020, and is anticipated to gain traction in the coming years,
• Asia-Pacific is expected to register the highest CAGR of 10.4% during the forecast period
Access Full Report: https://www.alliedmarketresearch.com/respiratory-disposables-market-A11235
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