Market for respiratory devices to hit $21.3B in five years

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Friday, March 3, 2017

PORTLAND, Ore. – The global respiratory care device market was valued at $12.8 billion in 2015 and is projected to value $21.3 billion by 2022, according to a report published by Allied Market Research in February. That represents a CAGR of 7.4% from 2016 to 2022. Dominating the market, according to the report: the therapeutic segment, which accounted for more than half of the total market share in 2015. “The global respiratory care devices market is driven by factors such as increase in prevalence of respiratory diseases, rapid urbanization, rise in pollution level, growth in geriatric population, and increase in tobacco consumption worldwide,” the report states. North America dominates the market, according to the report, and it’s expected to maintain that stronghold due to the high adoption rate of respiratory devices.