The global respiratory care device market is poised for significant growth owing to the rising prevalence of respiratory diseases and increasing awareness about respiratory health.
The SNS Insider report indicates that the Respiratory Care Device Market Size was valued at USD 19.49 Billion in 2022 and is expected to reach USD 38.55 Billion by 2030, growing at a CAGR of 8.9% over the forecast period 2023-2030.
Market report Scope
Respiratory Care Devices are utilized for analysis, monitoring, and therapy of respiratory infections like Chronic Obstructive Pulmonary Disease (COPD), asthma, tuberculosis, and pneumonia. These devices provide improved care to patients experiencing such acute and chronic respiratory illnesses.
The report analyses the respiratory care devices market based on product type, end-user, and geography. As the world's population ages and environmental factors affect respiratory health, there is a growing demand for respiratory care equipment.
These medical supplies and apparatus help patients control respiratory conditions or provide breathing support when required. They are used in various healthcare settings, including clinics, hospitals, and home care settings.
Market Analysis:
Demand for respiratory care is driven by infectious respiratory diseases, which have increased during the pandemic, boosting the market. Government and non-profit initiatives like the global initiative for asthma (GINA) and awareness campaigns have also contributed to market growth.
Moreover, the increase in the geriatric population and the rising prevalence of respiratory diseases further accelerate market expansion.
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Major Key Players in Respiratory Care Device Market:
- Koninklijke Philips N.V.
- ResMed
- Medtronic
- Fisher and Paykel Healthcare Limited
- BD
- Chart Industries Inc.
- Drägerwerk
- AG & Co. KGaA
- Hamilton Medical
- Teleflex Incorporated
- 3M
Key Segments Covered in Report:
By Product:
- Therapeutic Devices
- Monitoring Devices
- Diagnostic Devices
- Consumables and Accessories
By Indication:
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Sleep Apnea
- Infectious Disease
- Others
By End-User
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
- Others
Segment Analysis:
By disease indication, the COPD segment dominates due to factors such as tobacco smoking, indoor/outdoor air pollution, and exposure to dust and chemicals, which contribute to COPD's prevalence.
By end users, home care settings are witnessing rapid growth, especially in sleep apnea therapeutics, driven by the convenience they offer to patients.
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Regional Development:
North America leads the respiratory care devices market due to the high prevalence of respiratory illnesses like COPD. In contrast, the Asia-Pacific region is growing significantly due to a large pool of respiratory patients, air pollution, and the rise in tobacco smoking.
Additionally, APAC's development as a medical tourism hub attracts patients due to lower costs and the availability of skilled medical professionals.
Key Takeaways:
The respiratory care device market is on a trajectory to reach USD 38.55 billion by 2030, fueled by rising respiratory diseases and increased awareness.
COPD and home care settings are dominant segments, driven by factors like tobacco smoking and patient convenience.
North America and Asia-Pacific lead in market size and growth, respectively, due to disease prevalence and healthcare infrastructure.
Recent Developments:
In July 2022, Smile Train, Inc. and Lifebox partnered to launch the Lifebox-Smile Train pulse oximeter, expanding access to critical care tools.
Omron Healthcare also introduced a portable oxygen concentrator, a breakthrough in oxygen therapy for continuous high-purity oxygen supply.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Respiratory Care Device Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Respiratory Care Device Market Segmentation, By Product
Chapter 9 Respiratory Care Device Market Segmentation, By Indication
Chapter 10 Respiratory Care Device Market Segmentation, By End-User
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
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