11 May 2017 - - The global respiratory devices market was valued at nearly USD 13bn in 2016. It is projected to grow at 9.2% CAGR during the period 2017-2027 to reach USD 34.17bn in revenues, according to a report from US-based market intelligence and consulting firm Future Market Insights.

Demand for respiratory devices will continue to be driven by increasing ageing population and rising prevalence of COPD and obstructive sleep apnea. Increasing emphasis on healthcare spending in developing countries, especially in Asia Pacific and Latin America, will continue to positively influence the growth of the market.

Adoption of non-invasive techniques in pulse oximeters and advancement in full polysomnography testing are also favourably impacting the growth of the market.

Although Future Market Insights maintains a positive outlook on the global respiratory devices market, premium pricing, budgetary constraints, and increasing use of generic product types can impede the growth of the market.

The key trends expected to influence the global respiratory devices market in the foreseeable future include portable and wearable devices are steadily gaining popularity among patients owing to ease-of-use and flexibility in carrying the devices.

There is also a growing demand for stationary oxygen concentrator with pulse flow technology and rechargeable batteries.

Increasing demand for respiratory devices in Asia Pacific on account of rising prevalence of chronic obstructive pulmonary diseases. Multinational companies are focusing on consolidating their position in developing countries to leverage upon the emerging opportunities.