The global respiratory care market is set to witness steady growth over the next few years as the size of both the respiratory drugs market and respiratory devices market will increase. The major driving force within the respiratory care market continues to be treatments for smoking, exposure to passive smoking, and deteriorating air quality due to increasing pollution. Both outdoor and indoor pollution are important risk factors within the respiratory care market. Additionally, the increasing rate of allergies is also contributing to the growth of the market.
The size of the global respiratory drugs market is expected to increase USD 17.67 billion between 2017-2022, accelerating at a CAGR of close to 6%. This growth in market size is due to the rise of respiratory disorders such as COPD, asthma, and acute respiratory. COPD now affects more than 200 million people globally and around 235 million people around the world live with asthma. In the United States, nearly 6.7% of all deaths are due to chronic respiratory diseases and it is estimated that respiratory diseases account for approximately four million deaths annually in developing countries. The need to manage the growing number of respiratory diseases will drive the growth of the respiratory drugs market through 2022.
Numerous segments within the respiratory devices market are expected to witness strong growth in the coming years. For example, the global respiratory monitoring devices market will increase USD 1.5 billion over the next five years, while the global respiratory measurement devices market will grow at a CAGR of nearly 8% by 2022. Additionally, with the rising prevalence of chronic conditions, there has been an upsurge in the number of surgical procedures which is driving the demand of the global disposable respiratory masks market. The size of this market will increase nearly USD 90 million over the next five years, accelerating at a CAGR of 5%.
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Within our respiratory care devices industry research, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment this market into respiratory therapeutic devices, monitoring devices, consumables, and treatments for respiratory diseases.
Respiratory care has evolved over the years, and it includes various remedial treatments in the industry that Technavio covers such as nasal spray market, bronchodilators market, corticosteroids market, and various aids for smoking cessation market.
Technavio’s respiratory diseases portfolio covers both chronic diseases such as asthma, COPD, emphysema, lung cancer, and cystic fibrosis along with acute issues such as tuberculosis (TB), pneumonia, and bronchitis, among others. Healthcare professionals and market vendors are focusing on the development of effective diagnostics and biologics that assist doctors in the precise and detailed identification of respiratory diseases. These diagnostics and pharmaceuticals help them in determining the specific and most effective line of treatment for patients.
Technavio keeps itself abreast of the latest developments in the respiratory disease pipeline by tracking clinical respiratory research trials across the globe. Asthma, cystic fibrosis, and COPD trials form a sizable proportion of the ongoing respiratory clinical trials.
Respiratory clinical trials cover compound types varying from clinical development and bioanalytical services. Our respiratory clinical trials analysis encompasses all phases of development starting from discovery projects to phase I, phase II, phase III, and phase IV, concluding with the registration of clinical trials. In addition, the respiratory clinical trials submissions are classified as biosimilars or new molecular entity.
We at Technavio, with our comprehensive understanding of the respiratory care devices market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our respiratory care devices market research offers the following insights: