The North America pulmonary devices market is expected to reach US$ 16,637.44 million by 2027 from US$ 7,581.04 million in 2019
Additionally, strategic activities by manufacturers and increasing preference of home care products are likely to fuel the growth of the pulmonary devices market during the forecast period.
NEW YORK, Oct. 29, 2020 /PRNewswire/ --
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The growth of the pulmonary devices market in North America is attributed to the increasing prevalence of respiratory diseases and growing number of COVID-19 cases.Factors such as unfavorable reimbursement scenario associated with the pulmonary device are likely to restrain the growth of the market.
Additionally, strategic activities by manufacturers and increasing preference of home care products are likely to fuel the growth of the pulmonary devices market during the forecast period.
Pulmonary or respiratory devices are used to remove mucus and secretions from the respiratory tract. These medical devices are focused on diagnosis, control, treatment, management, and evaluation of the problems associated with respiratory tract.
The higher prevalence of respiratory disorder is mainly due to the decrease in size of the upper airway lumen in aging population.Millions of people suffer from various respiratory diseases; lung diseases are the most common medical conditions.
Smoking, genetic factors, and infections are among the common factors responsible for respiratory diseases. Medical conditions such as asthma and chronic obstructive pulmonary disease (COPD), chronic bronchitis, cystic fibrosis, and lung cancer are among the significant public health burdens.
According to the World Health Organization (WHO), COPD is the third leading cause of death in the US and was present in more than 11 million people in 2018.Additionally, lung cancer makes up about 13% of all new cancer diagnoses, making it the most common lethal infectious disease.
According to the US Department of Health and Human Services, 25 million people in the US had asthma in 2019 and is known to be the most common respiratory disease.
The patients suffering with these respiratory disorders commonly experience difficulty in breathing.Thus, the availability of various pulmonary devices has helped improve the survival rates of the patients suffering from abovementioned medical conditions.
The rising demand for various therapeutic devices among patients with respiratory disorders is expected to augment the growth of the market during the forecast period.
The impact of the COVID-19 crisis is expected to further accelerate the growth of the pulmonary devices market in North America.In addition, the threat will have a lasting impact on governments and regulatory agencies in terms of future preparedness when it comes to the next pandemic.
At present, government is playing catch-up, swiftly intervening in an attempt to create alliances with manufacturers to handle the COVID-19 threat. Additionally, international regulatory agencies are considering accelerated approval of certain respiratory devices.
In 2019, the therapeutic devices segment held the largest share in the market and is expected to retain its dominance till 2027.The multi-modal and multi-functional use of therapeutic devices for a wide range of pulmonary diseases is expected to account for the growth of the therapeutic devices segment over the coming years.
On the other hand, the consumables and accessories segment is expected to witness fastest growth rate owing to the increasing trend for stockpiling of facial disposable masks to avoid viral transmission.
World Health Organization (WHO), US Department of Health and Human Services, and Centers of Disease Control and Prevention (CDC) are among the major secondary sources associated with the North America pulmonary devices market report.
Read the full report: https://www.reportlinker.com/p05978909/?utm_source=PRN
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