The assistance and help provided by the respiratory therapist to people suffering from problems related to lung function and breathing as a part of respiratory care is respiratory therapy. Home respiratory therapy basically means the respiratory therapy is provided within the settings of an individual’s home.
The emergence of home care in the respiratory therapy has opened new growth opportunities for respiratory services as well as respiratory devices. There have been a major shift towards homecare respiratory therapy in the last few years. In addition, the outbreak of Covid-19 has a major impact on the home respiratory therapy market. The impact is however positive and has led to the growth of the market. Moreover, it has led to some prominent steps taken by the healthcare system in order to help the patients with respiratory diseases.
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One such instance is the temporary FDA approval for home administration omalizumab for pateints with moderate to severe asthma.
Home Respiratory Therapy Market: Drivers and Restraints
The rise in respiratory disorders in developed countries is the major factor driving the growth of the home respiratory therapy market. According to the WHO, in 2017, About 235 million people suffered from asthma, a common disease among children. Another factor that is expected to propel the growth of the home respiratory therapy market is rising geriatric population as aging declines the effective functioning of the lungs. This makes the geriatric population more vulnerable of developing respiratory diseases.
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 of the home respiratory therapy market. Furthermore, the rising awareness about the respiratory diseases in developing countries will boost the growth of the home respiratory therapy market.
The high cost of respiratory therapy in the home care setting as compared to therapy cost in hospitals will restrain the growth of the market. The limited availability of skilled professionals to operate in developing countries may also hamper the growth of the home respiratory therapy market.
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Home Respiratory Therapy Market: Segmentation
Tentatively, the global Home Respiratory Therapy Market has been segmented on the basis of product type, application and age group.
Based on product type, the global Home Respiratory Therapy Market is segmented as:
- Respiratory care devices
- Therapeutic devices
- Monitoring devices
- Consumables and accessories
- Respiratory care services
- Oxygen therapy
- Aerosol therapy
- Mechanical ventilation
- Respiratory care drugs
Based on application, the global Home Respiratory Therapy Market is segmented as:
- Chronic obstructive pulmonary disease ( COPD)
- Cystic fibrosis
Based on age group, the global Home Respiratory Therapy Market is segmented as:
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Home Respiratory Therapy Market: Key players
Some of the players identified in the Home Respiratory Therapy Market include:
- 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.
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