The global respiratory devices market growth is expanding at a CAGR of 8% from 2021 to 2030 and is expected to reach US$ 36 billion by 2030.
Respiratory devices are medical devices that are used to aid patients who are suffering from respiratory problems and cannot attain sufficient oxygen levels to sustain life.
Respiratory care devices are used for diagnosis, monitoring, and treatment of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, tuberculosis, and pneumonia. These devices provide enhanced care to patients suffering from such acute and chronic respiratory diseases. The prevalence of respiratory diseases will continue to rise as our global population ages and the incidence of chronic diseases, such as COPD and asthma, increases exponentially. Hence the demand for respiratory devices will keep growing. In recent years patients with respiratory diseases use various devices, which help the removal of mucus from the airways and the improvement of pulmonary function.
The growth of the global respiratory devices market is majorly driven by the high prevalence of respiratory diseases, rising aging population across the globe, high prevalence of smoking, rising urbanization and pollution levels, increasing incidence of preterm births, and lifestyle changes. Infectious respiratory diseases directly drive demand for respiratory care.
The increased incidence of respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD) and Obstructive Sleep Apnea (OSA) are factors that are having a significant impact on the anaesthesia and respiratory devices market. The breathing apparatus is the dominant segment of the market due to the high prevalence rate of respiratory diseases. The hospital is the dominant segment as it is equipped with advanced apparatus. North America dominates the market in terms of revenue and will continue the same in the future.
However, a lack of awareness leading to a large underdiagnosed and undertreated population and the harmful effects of specific respiratory care devices on neonates have hampered market growth to an extent. In addition, the diagnostic industry as a whole and respiratory care diagnostic, in particular, is presently facing the challenge of a lack of reimbursements for various diagnostic tests. Reimbursement policies are dispersed in Europe and are available only for PAP devices and oral appliances in select countries (devices that are not covered by insurance have a low market share in the region). Also, the majority of countries in the Asian and RoW regions have negligible reimbursement coverage for respiratory care devices.
Low awareness of respiratory diseases; Despite the high prevalence of major respiratory diseases such as asthma and COPD, remains highly underdiagnosed and undertreated. It is particularly evident in developing economies due to the low awareness about these diseases and the unavailability of adequate resources to diagnose these diseases.
Advent of Technologically Advanced Devices Provide Fresh Growth Prospects to Oxygen Delivery Devices
Further, advent of technologically respiratory devices, which offers efficient patient is projected to accelerate the market growth. Technologically advancement in delivery devices has resulted in integration of sensors coupled with pulse dose meters. These devices enable to regulate flow of the oxygen. Adoption of respiratory therapy is growing significantly. The growth rate is attributed to the potential benefits offered by the devices. These benefits include faster response rate, efficient dosing, controlled flow, and greater reliability and durability. These aforementioned factors are likely to propel the industry expansion process.
Growing prevalence of respiratory diseases such as sleep apnea and Chronic Obstructive Pulmonary disorder is anticipated to boost market growth. As per a report published by the WHO, nearly 64 million people across the globe suffers from mild to severe COPD. In addition, COPD is found to be third leading cause of death across the world. Rising demand for protracted treatment and emergency treatment associated with lung diseases in children and adults are likely to boost the market growth during the forecast period.
Further, respiratory therapeutics devices are preferred by medical professionals and physicians for treatment of various types of respiratory disorders. These devices provide immediate medical intervention in case of acute and chronic patient care.
North America to Top the Regional Charts in the Global Respiratory Devices Market over the Forecast Period
Owing to massive increase in geriatric population, North America will account for a sizeable share of the market. Besides, poor lifestyle choices such as tobacco consumption and smoking are contributing to growth in the regional market. Additionally, exposure to indoor and outdoor air pollution is also a major factor leading to increase in incidence of these diseases. Besides, a robust healthcare infrastructure and a favorable reimbursement policy are also supporting growth. Exposure to dust and fumes is also leading to growth in the market. Presence of strong players will also help the regional market for respiratory devices grow notably.
Asia Pacific (APAC) region is set to present market players with novel growth opportunities. The patient pool of patients suffering from respiratory illnesses in this region is high. Besides, a large number of older people exist in this region. Geriatric population will also be a notable growth factor in the European region. This region is also marked by presence of strong players and this is also leading to a higher growth curve over the period. Additionally, growing awareness regarding respiratory devices is also adding positively to this growth.
The global respiratory devices market is fragmented owing to presence of a large number of market players. Some of the prominent names include Koninklijke Philips N.V., Hamilton Medical AG, Fisher & Paykel Healthcare Limited, ResMed, Inc., Invacare Corporation, Chart Industries Inc., Dräger Safety AG & Co. KGaA, Becton, Dickinson and Company, Masimo Corporation, and Medtronic plc. The other players operating in the industry include 3B Medical, Inc., Medline Industries Inc., Acare Technology Co., Ltd., Allied Healthcare Inc., Hill-Rom Holdings Inc., and Rotech Healthcare Inc.
By Product Type
By Therapeutic Devices
By Diagnostic & Monitoring Devices
This report focuses on respiratory devices market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall respiratory devices market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global respiratory devices market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the respiratory devices market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the respiratory devices market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Respiratory devices market.
Market Segments: This part of the report discusses about product, application and other segments of the respiratory devices market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global respiratory devices market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the respiratory devices market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global respiratory devices market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global respiratory devices market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global respiratory devices market.
The study objectives of this report are:
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