The World Health Organization (WHO) estimates that approximately 4.2 million human lives are lost due to ambient (outdoor) air pollution and 3.8 million deaths occur due to household exposure to smoke every year, globally. The WHO also states that almost all of the world’s population are exposed to air pollution levels that make them extremely vulnerable to chronic obstructive pulmonary disease (COPD), cancer, heart disease, stroke, and pneumonia. The increasing exposure to air pollution will, therefore, augment the usage of respiratory care devices in the forthcoming years.
Moreover, the accelerating urbanization rate and the growing aging population will also fuel the adoption of respiratory care devices across the world. According to the World Bank, the global urban population grew from 4.274 billion in 2019 to 4.352 billion in 2020. Furthermore, the United Nations Department of Economic and Social Affairs (UNDESA) forecasts that the number of people aged 65 years or above will surge from 727 million in 2020 to around 1.5 billion by 2050.
The type segment of the respiratory care device market is categorized into accessories and consumables, diagnostic and monitoring devices, and therapeutic devices. Under this segment, the therapeutic devices category is expected to hold the largest market share and exhibit the fastest growth during the forecast period. This category is further classified into humidifier, mask, nebulizer, positive airway pressure device, ventilator, and others. Additionally, the diagnostic and monitoring devices category is classified into capnograph, gas analyzer, pulse oximeter, spirometer, and others.
All the aforementioned respiratory care devices are used in hospital and home care settings. In the preceding years, hospitals adopted a higher number of such devices, due to the high footfall of patients in these healthcare facilities. In the coming years, home care settings will also utilize a considerable quantity of such devices. These end users deploy respiratory care devices manufactured by General Electric Company, Koninklijke Philips N.V., Hamilton Medical AG, ResMed Inc., Medtronic plc, and Masimo Corporation.
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