The market is estimated to grow at a CAGR of 9. 7% during 2019–2027. The growth of the pulmonary devices market in Europe is attributed to the increasing prevalence of respiratory diseases and growing number of COVID-19 cases.
New York, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Pulmonary Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; Application ; and End User and Country" - https://www.reportlinker.com/p05978859/?utm_source=GNW
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.
Manufacturers in the pulmonary devices market are ramping up their focus on the adoption of various strategies, such as product innovation, product launches and approvals, and R&D investment for the advancements in ventilators, along with merger and acquisition as their developmental strategies to maintain the competitive environment in the market.
For instance, in April 2020, Philips launched the PHILIPS RESPIRONICS E30 VENTILATOR, which enables the company to provide superior quality ventilators to the healthcare professionals.In August 2019, OxyGO LLC, one of the leaders in portable oxygen concentrator market, introduced OxyGo NEXT, a new six-flow setting; Bluetooth-enabled portable oxygen concentrator that offers highest oxygen output per pound of weight.
In May 2020, Philips partnered with Masimo to integrate Masimo’s measurement technologies into select intellivue MX-Series multi-parameter monitors to help clinicians examine ventilation status and cerebral oximetry. Therefore, the introduction of advanced products is likely to revolutionize and offer opportunities for the growth of the pulmonary devices market.
The patients suffering with the 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 COVID-19 pandemic effect is still active among various countries in Europe.As with any specialized equipment simply commandeering a factory and ordering it to manufacture respirators is not a reality, the existing equipment are retooled and quality control perfected under these circumstances to operate as alternative solutions for invasive ventilators.
Various companies are working toward providing these solutions to the healthcare centers in Europe and are likely to create a good business even during the pandemic.
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), National Institute for Health and Care Excellence, British Lung Foundation (BLF), and National Health Service (NHS) are among the major secondary sources associated with the Europe pulmonary devices market report.
Read the full report: https://www.reportlinker.com/p05978859/?utm_source=GNW
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