The North American respiratory device market was valued at around $6.6 billion in 2018 and is estimated to grow at a CAGR of around 6.2% during the forecast period. The rising prevalence of chronic respiratory diseases, increasing geriatric population, and technological advancement are the major factors that augmenting the growth of respiratory device market in North America. The increasing demand from COPD, Sleep Apnea and asthma patients in the US for the respiratory device and favorable reimbursement in the US is favoring the growth of the regional market. North American respiratory device is further analyzed into the US and Canada. The US is the major market due to greater healthcare expenditure and a higher prevalence rate of respiratory diseases. The US respiratory device market was around $6.2 billion in 2018 and is anticipated to grow at a CAGR of around 6.3% during the forecast period.
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The North American respiratory device market is segmented on the basis of product and end-user. The respiratory product segment is further sub-segmented into therapeutic devices, diagnosis and monitoring devices, and consumables and accessories. The therapeutic devices segment is estimated to dominate the regional market and is also anticipated to grow at the fastest growth rate over the forecast period. The high cost of therapeutics device and significant demand for continuous positive airway pressure (CPAP) devices and masks, ventilator, oxygen concentrator, and oxygen hoods contribute majorly to the segmental growth of the market for therapeutic devices. Based on end-user, the market is analyzed into hospitals and clinics, and home care.
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Additionally, the market is characterized by the presence of several players that are providing respiratory devices within and outside the region. Some of the key players of the market include ResMed Corp., Invacare Corp., GlaxoSmithKline PLC, 3M Co., Novartis AG, Omron Healthcare Inc., and others. The market players are adopting the strategy of merger & acquisition, product launch and expansion of their manufacturing facilities to increase their market share. For instance, in May 2018, Philips Healthcare acquired NightBalance for expanding its sleep & respiratory care portfolio. The acquisition enables Philips Healthcare to expand its position in the home care market. Further, in January 2018, ResMed introduced Mobi which is a portable oxygen concentrator (POC). Furthermore, in May 2017 Resmed launched AirTouch F20 full face mask with UltraSoft memory for comfortable therapy of the patients. Such advancement in respiratory devices will create enormous opportunities for the market across the globe.
Market Segmentation
North American Respiratory Device Market by Product
- Therapeutic Devices
- Diagnostic and Monitoring Devices
- Consumables and Accessories
North American Respiratory Device Market by End-User
- Homecare
- Hospitals and Clinics
Regional Analysis
- US
- Canada
Company Profiles
- 3B Medical, Inc.
- 3M Co.
- Acorda Therapeutics, Inc.
- Adamis Pharmaceuticals Corp.
- Adherium Ltd.
- Aradigm Corp.
- AstraZeneca PLC
- Boehringer Ingelheim International GmbH
- Chart Industries, Inc.
- Circadiance LLC
- Curative Medical, Inc.
- GlaxoSmithKline PLC
- Invacare Corp.
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