The global (U.S., Europe, Asia and ROW) respiratory care devices market has grown significantly over the past few years and is expected to grow at a steady pace in the coming five years. Rapidly aging population, rising incidence in Chronic Obtrusive Pulmonary Diseases (COPD), technical advances in the respiratory care devices market, and tight budgets of healthcare institutions are the major factors influencing the market.
The emergence of home healthcare has opened new avenues for the respiratory care devices market. Convenience and comfort in a home care environment coupled with cost advantages are the major factors driving the home healthcare market for respiratory care devices. The U.S. accounts for the largest share of the global respiratory care devices market. Demographic changes and rising incidence of COPD are among the major factors influencing the market. COPD is the fourth leading cause of death in the U.S. Right now more than 30 million Americans have some kinds of pulmonary diseases and must permanently perform the Pulmonary Function Testing (PFT).
The global respiratory care devices market was expected to be worth $8.8 billion in 2010 and is estimated to reach $13.5 billion by 2015, growing at a CAGR of 8.8% from 2010-2015. Within the respiratory diagnostic devices segment, spirometers dominate the market with an estimated share of $489 million by 2015.