Study: Global respiratory market to hit $21 billion by 2010
NEW YORK - Due to high rates of asthma and COPD and an aging population increasingly succumbing to respiratory illness, the global market for disposable and reusable respiratory equipment will hit $21 billion by 2010, a new study predicts.
The U.S. market alone will account for $10 billion in respiratory equipment sales this year, according to "The World Market for Respiratory Equipment," released Thursday by Kalorama Information, a division of MarketResearch.com.
Additionally, the study predicts new technology and regulatory changes, especially those concerning inhalers, will drive growth in the market.
The study also reports increased coverage of Medicare patients through the Medicare Modernization Act (MMA) will help assure market growth.