Worldwide Growth Seen in Respiratory Device Market
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By HospiMedica International staff writers Posted on 07 Apr 2014 |
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The global respiratory device market continues to grow, mainly due to the aging of the world population and increasing incidence of respiratory diseases. These are the latest findings of Kalorama Information (New York, NY, USA), an independent medical market research firm.
The bulk of revenue of the USD 47 billion-dollar market, which includes inhalers, oxygen systems, oximeters, and other equipment, is derived from the 36 billion inhaler segment. The segment comprises metered dose inhalers or dry powder versions, which are commonly used for the treatment of asthma, chronic bronchitis, chronic obstructive pulmonary disease (COPD), cystic fibrosis (CF), or any lung disease characterized by chronic or acute inflammation. They consist of a micronized form of drug in a propellant under pressure with surfactants to prevent clumping of drug crystals.
Other products such as endotracheal tubes, tracheostomy tubes, nasopharyngeal catheters, and oxygen mask devices, which comprise a smaller portion of the market, will see faster growth, since many are disposable and used in hospital or homecare settings. Material innovations are also driving a rising demand in products focusing on comfort and wearability, such as the Devilbiss (Somerset, PA, USA) EasyFit SilkGel Nasal and Full Face Mask, and the Teleflex Softech Plus nasal cannula. The market encompasses many different products to help treat and monitor respiratory conditions, as well as many large and small manufacturers.
“The market for inhalers continues to grow based on the aging of the world population, an increase in respiratory diseases and a general increase in conditions,” said report author Kalorama analyst Mary Anne Crandall. “Because of the ease of use and advancements in inhaler delivery, drug companies and drug delivery manufacturers are increasing interest in this technology.”
According to the report, the device market will grow at a 4.6% compound annual growth rate (CAGR), reaching 59 billion in 2018; revenue growth in the high-demand comfort and wearability products is predicted to be 50% faster than the overall market.
Related Links:
Kalorama Information
Devilbiss
The bulk of revenue of the USD 47 billion-dollar market, which includes inhalers, oxygen systems, oximeters, and other equipment, is derived from the 36 billion inhaler segment. The segment comprises metered dose inhalers or dry powder versions, which are commonly used for the treatment of asthma, chronic bronchitis, chronic obstructive pulmonary disease (COPD), cystic fibrosis (CF), or any lung disease characterized by chronic or acute inflammation. They consist of a micronized form of drug in a propellant under pressure with surfactants to prevent clumping of drug crystals.
Other products such as endotracheal tubes, tracheostomy tubes, nasopharyngeal catheters, and oxygen mask devices, which comprise a smaller portion of the market, will see faster growth, since many are disposable and used in hospital or homecare settings. Material innovations are also driving a rising demand in products focusing on comfort and wearability, such as the Devilbiss (Somerset, PA, USA) EasyFit SilkGel Nasal and Full Face Mask, and the Teleflex Softech Plus nasal cannula. The market encompasses many different products to help treat and monitor respiratory conditions, as well as many large and small manufacturers.
“The market for inhalers continues to grow based on the aging of the world population, an increase in respiratory diseases and a general increase in conditions,” said report author Kalorama analyst Mary Anne Crandall. “Because of the ease of use and advancements in inhaler delivery, drug companies and drug delivery manufacturers are increasing interest in this technology.”
According to the report, the device market will grow at a 4.6% compound annual growth rate (CAGR), reaching 59 billion in 2018; revenue growth in the high-demand comfort and wearability products is predicted to be 50% faster than the overall market.
Related Links:
Kalorama Information
Devilbiss
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