U.S. Respiratory Assist Devices EUA Market size is estimated to reach $8.12 Bn by 2025 and is poised to grow at a CAGR of 7.8% during the forecast period 2020-2025. Respiratory assist devices include devices intended to assist patients who require breathing support, carbon dioxide removal, and therapy to reduce abdominal muscle atrophy caused by use. The Food and Drug Administration (FDA) has released EUAs to help increase the availability of respiratory aid devices, which are an integral part of treating patients during the COVID-19 pandemic. The demand for the U.S. Respiratory Assist Devices EUA Market is owing to rising prevalence of respiratory disorders. The increasing prevalence of these target indicators increases hospitalization and re-admission rates of infected patients as they require frequent ventilation support, which is estimated to drive the market during the forecast period 2020-2025.
U.S. Respiratory Assist Devices EUA Market Segment Analysis - By Device
The U.S. Respiratory Assist Devices EUA Market based on Mode of Service, can be further segmented into Mechanical ventilators, Sleep apnea devices, Anesthesia gas machines, and others. The Mechanical ventilators segment registered for highest revenue in 2019 and projected to grow at the highest CAGR during the forecast period 2020-2025 owing to the increasing prevalence of respiratory diseases coupled with the rising demand of ventilators, which is the major reason for driving the segment.
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U.S. Respiratory Assist Devices EUA Market Segment Analysis - By End User
The U.S. Respiratory Assist Devices EUA Market based on Mode of End User can be further segmented into Ambulatory Care Centers, Home Care Settings, and Hospitals. Hospitals segment registered for the highest revenue in 2019 and is estimated to grow at highest CAGR over the forecast years 2020-2025. This is owing to the increasing public-private partnerships to improve access to healthcare services along with rapid developments in healthcare infrastructure and improving access to healthcare services are estimated to be the major factors driving the growth of the hospital segment over the forecast period 2020-2025.
U.S. Respiratory Assist Devices EUA Market Drivers
Increased demand for Ventilators
The demand for the U.S. Respiratory Assist Devices EUA Market is owing to rising prevalence of respiratory disorders. According to the Global Burden of Disease Study, in 2016, there were about 251 million cases of COPD (Chronic obstructive pulmonary disease) reported globally. Likewise, according to the World Health Organization (WHO), COPD is estimated to become the second largest health threat in the world by 2025. In 2019, the World Health Organization reported that about 339 million people suffer from asthma globally. The increasing prevalence of these target indicators increases hospitalization and re-admission rates of infected patients as they require frequent ventilation support, which is estimated to drive the market during the forecast period 2020-2025.
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U.S. Respiratory Assist Devices EUA Market Challenges
Harmful effects of respiratory assist devices on neonates
The Ventilators are used to provide respiratory care to new-borns. However, these devices can also cause chronic lung injury that leads to bronchopulmonary dysplasia (a major complication in premature babies) and bronchial intubation, which are common causes of death while assisted with a ventilator. There have been cases where mechanical ventilation has led to blindness among premature babies owing to excess oxygen, which is acting as a major challenge for the growth of the U.S. Respiratory Assist Devices EUA Market during the forecast period 2020-2025.
U.S. Respiratory Assist Devices EUA Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the U.S. Respiratory Assist Devices EUA Market. Key companies of this market BioMedInnovations LLC, Guangzhou Hypnus Healthcare Co Ltd, CMI Health, Lanick Med Systems LLC, AutoMedX Inc, Bloom Energy, Nanotronics Imaging Inc, Stryker Instruments, Safe Flight Instrument Corporation, Covidien LLC, and MakeMedical.
Acquisitions/Product Launches:
In August 2020, The Health Bank (THB) Global announced that it has collaborated with Nanotronics Health for the supply of the nHale non-invasive ventilators.
In February 2020, ALung Technologies Inc announced that the US Food and Drug Administration approved the EUA for the Hemolung Respiratory Assist System from ALung Technologies Inc to treat lung failure from COVID 19. It can be used as an adjunct to invasive or non-invasive mechanical ventilation to reduce the chances of hypercapnia and alike symptoms.
Key Takeaways
The demand for the U.S. Respiratory Assist Devices EUA Market is owing to rising prevalence of respiratory disorders.
The harmful effects of respiratory assist devices on neonates is estimated to restrain the market growth during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the U.S. Respiratory Assist Devices EUA Market report.
Related Reports :
A. Respiratory Devices Market
https://www.industryarc.com/Report/16227/respiratory-devices-market.html
B. Anesthesia And Respiratory Devices Market
https://www.industryarc.com/Research/Anesthesia-And-Respiratory-Devices-Market-Research-502650
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