The rising preference of individuals to avoid hospitalization and get treatment within the home care setting is majorly contributing towards the growth of the home respiratory therapy market. The convenience and comfort in the home care setting is attributed towards the growth. Furthermore, the rising awareness about the respiratory diseases in developing countries will boost the growth of market.
Respiratory therapy is the aid and support given by a respiratory therapist to those experiencing issues with breathing and lung function as a component of respiratory care. Home respiratory therapy basically means that the patient receives their respiratory care at home. New growth potential for respiratory services and respiratory devices have been made possible by the introduction of home care in respiratory therapy. In the past few years, there has been a significant trend towards respiratory therapy at home.
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Market Titans
- Genesis Rehab Services
- West River Health Services
- Fisher & Paykel Healthcare Limited
- Medtronic PLC
- Dräger Safety AG & Co. KGaA
- ResMed, Inc.
- GlaxoSmithKline Plc
- Merck & Co Inc.
- AstraZeneca Plch
- F Hoffman-La Roche Ltd.
- Others
Key Statistics Supporting the Surge
- Based on application, chronic obstructive pulmonary disease (COPD) is expected to hold lion’s share in the global market owing to its high prevalence
- In terms of age group, geriatrics will account for the largest market share, creating lucrative growth opportunities for the market players.
- Pediatrics segment is expected to witness high growth during the forecast period.
- The U.S. is expected to account for largest market share, spearheading the growth of North America’s home respiratory therapy market
- The U.K. and Germany will lead the Europe’s market growth, making it the 2nd largest region in the home respiratory therapy market
- Rising per capita income and outbreak of COVID-19 is expected to create lucrative growth opportunities across India
- China is expected to be the most lucrative market across East Asia over the forecast period
Competitive Dashboard
Emergence of various start-ups and product launches by local and regional players is expected to create growth opportunities over the coming years. Strategies such as mergers and collaborations are also adopted by key players to maintain their position in the industry.
For instance, in April 2021, Encore Healthcare announced the release of its new Nexus software for the enrollment of over 2700 patients for their ongoing Nexus clinical management program. Encore Healthcare partnered with MedSouth in June 2019, to start this program which reduced complex respiratory readmission by >60%. In January 2021, Protech Home Medical Corp, a U.S. based leader in the home medical equipment industry, focused on end-to-end respiratory care announced the acquisition of a private respiratory care company in the Southern United States.
More Insights on the Home Respiratory Therapy Market:
Fact MR offers compelling insights on the global home respiratory therapy market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the global home respiratory therapy market with a detailed segmentation on the basis of:
Product:
- Respiratory Care Devices
- Therapeutic devices
- Monitoring devices
- Consumables and accessories
- Respiratory Care Services
- Oxygen therapy
- Aerosol therapy
- Mechanical ventilation
- Others
- Respiratory Care Drugs
Application:
- Chronic obstructive pulmonary disease (COPD)
- Asthma
- Cystic Fibrosis
- Others
Age Group:
- Pediatrics
- Adults
- Geriatrics
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
Key Questions Covered in the Home respiratory therapy Market Report
- The report offers detailed insights into home respiratory therapy demand outlook for 2021-2031
- The market study also highlights projected sales growth for home respiratory therapy market between 2021 and 2031
- Home respiratory therapy market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Home respiratory therapy market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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