Wilmington, Delaware, United States, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global respiratory disposable market is projected to flourish at a CAGR of 5.2% from 2022 to 2031. As per the report published by TMR, a valuation of US$ 1.8 billion is anticipated for the market in 2031. As of 2023, the market for respiratory disposables is expected to close at US$ 1.21 billion.
The increasing prevalence of respiratory disorders drives the market demand for respiratory disposables such as oxygen masks, nasal cannulas, and airway tubing.
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The respiratory disposables market is highly consolidated with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global respiratory disposables market report:
- ICU Medical, Inc.
- Fisher & Paykel Healthcare Limited
- Ambu A/S
- Armstrong Medical
- Koninklijke Philips N.V.
- Teleflex Incorporated
- Besmed Health Business Corp.
- Dynarex Corporation
- GF Health Products, Inc.
Key Developments in the Respiratory Disposables Market
- In July 2023 – ResMed announced the acquisition of privately held Somnoware, a U.S. leader in sleep and respiratory care diagnostics software.
- In May 2023 –The New York Boulders are pleased to announce a promotional partnership with Dynarex Corporation. Dynarex is a leading medical supply company providing premium medical products and durable medical equipment at an exceptional value — for an unparalleled one-stop shopping experience.
- Ambu A/S -developed disposable anesthesia breathing circuits for surgical and critical care applications. Innovation in single-use endotracheal tubes and masks, enhancing infection control in healthcare settings.
- Teleflex Incorporated introduced specialized oxygen therapy products, such as nasal cannulas and masks, for enhanced patient comfort and oxygen delivery. Research into disposable ventilation products for use in emergency and critical care settings.
An increasing number of patients suffering from diseases including asthma, lung cancer, Chronic Obstructive Pulmonary Disease (COPD), and Obstructive Sleep Apnea (OSA), boost the market growth.
The increasing aging population across the globe as old people are more susceptible to respiratory conditions and often require respiratory support, is expected to contribute to the sustained demand for respiratory disposable
The growing need for effective treatment approaches and devices such as inhaled medications and oxygen therapy is projected to augment respiratory disposables market statistics in the near future.
Key Takeaways from the Market Study
- As of 2022, the respiratory disposable market was valued at US$ 1.16 billion
- By application, the COPD segment to enjoy high demand, accumulating a high revenue share during the forecast period
- Based on product, the mouthpieces & oxygen masks product segment is anticipated to dominate the industry during the forecast period
- Based on end-user, the hospital segment is expected to generate high revenue during the forecast period, due to the increased demand for respiratory disposables from hospital settings
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Respiratory Disposables Market: Key Trends and Opportunistic Frontiers
- Increased investment in the healthcare sector to address the high burden of respiratory diseases and increased governments’ focus on enhancing healthcare infrastructure to drive the respiratory disposable market
- The growing technological advances and innovations in medical technology lead to the development of more sophisticated and efficient disposable respiratory devices. This includes improved materials, design, and functionalities that enhance patient comfort and treatment outcomes.
- Advancements in connectivity and digital health have led to the development of smart respiratory disposables that can integrate with telehealth platforms and provide real-time monitoring and data collection.
Respiratory Disposables Market- Regional Analysis
- North America is estimated to dominate the respiratory disposable market during the forecast period. The presence of well-developed healthcare systems and early adoption of new medical technologies, including disposable respiratory devices, drives market growth in the region. The growing emphasis on home-based healthcare and telemedicine drives the demand for user-friendly disposable devices that patients can use at home.
- The respiratory disposables industry in the Asia Pacific is projected to grow at a rapid pace during the forecast period. Increasing investments in healthcare infrastructure, coupled with rising awareness of respiratory health, contribute to the growth of the respiratory disposable market.
Respiratory Disposables Market – Key Segments
- Mouthpieces & Oxygen Masks
- Nasal Cannulas & Tubing
- Suction Catheters
- Disposable Liners & Canisters
- Occupational Lung Diseases
- Clinics & Nursing Homes
- North America
- Asia Pacific
- Middle East & Africa
- South America
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