Therapeutic Respiratory Devices Market (By Product Type: Nebulizer, Humidifiers, Oxygen concentrators, Positive Airway Pressure Devices, Ventilators, Capnographs, Gas Analysers; By Technology; By Filters) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

Published Date : May 2022 | No. of Pages : 150+ Pages | Category : Healthcare

The global therapeutic respiratory devices market was surpassed at USD 10.2 billion in 2021 and is expected to hit around USD 16.3 billion by 2030, growing at a CAGR of 5.35% from 2022 to 2030.

Therapeutic Respiratory Devices Market Size 2021 to 2030

A growing geriatric population base, rapid technological advancements, and increasing prevalence of respiratory diseases are the key factors that are driving the market. The market is expected to grow due to rapid technological advancements in the healthcare sector. Nowadays, respiratory monitoring devices use software applications for the collection and analysis of data from ventilators equipped with the health system.

The tools in the software application improve patient monitoring through the measurement of parameters such as process and clinical variation in the ventilator therapy. The global increase in the cases of respiratory diseases is one of the major factors that are driving the market for therapeutic respiratory devices. According to the European Academy of Allergy and Clinical Immunology (EAACI) Global Atlas of Asthma 2021, more than 350 million patients around the world are suffering from asthma.

Moreover, waveform capnography is a technical advancement used in monitoring carbon dioxide levels. New product launch such as automated and stand-alone pressure controls for mechanical ventilators boosts the growth of the market. These pressure controllers enable a reduction in the risk of tracheal injuries and Ventilator-associated Pneumonia (VAP). For instance, in November 2021, Fischer and Paykel launched F&P Visairo, a hospital under-nose mask for noninvasive ventilation, in the United States. F&P Visairo is a new high-performance under-nose hospital mask with dynamic support technology. The company also offers a humidifier with an integrated flow generator, which delivers high flows of air mixture to patients spontaneously breathing. Such factors are bolstering the growth of the market.

Scope of The Report

Report Coverage Details
Market Size in 2021 USD 10.2 billion
Revenue Forecast by 2030 USD 16.3 billion
Growth rate from 2022 to 2030 CAGR of 5.35%
Base Year 2021
Forecast Period 2022 to 2030
Segmentation Product type, technology, filter, region
Companies Covered

BD; General Electric Company; Chart industries; Koninklijke Philips N.V.; Compumedics Limited.; ICU Medical, Inc.; CAIRE Inc.; Invacare Corporation; Mindray

 

Product Type Insights

The positive airway pressure devices segment dominated the market and accounted for a revenue share of more than 58.0% in 2021 and is anticipated to register the fastest growth in the forecast period. This can be attributed to increasing incidences of obstructive sleep apnea that are responsible for the growth of this segment. This is attributed to lifestyle-associated factors such as obesity, alcohol consumption, smoking, and conditions such as craniofacial abnormalities. According to the National Library of Medicine, in 2020, 26% of the total population in the U.S. is reported to have obstructive sleep apnea syndrome. Increasing use of these devices by the geriatric patient base is also responsible for the growth of the market.

Technology Insights

The HEPA filter technology segment dominated the market in 2021 and accounted for a revenue share of more than 30.0%. High efficiency particulate air filters are employed for particle removal and retention in different therapeutic respiratory devices. As per the CDC guidelines, the therapeutic devices must be equipped with HEPA filtration technology for air filtration. The prevalence of respiratory diseases and their transmission are among the factors that drive the demand for HEPA filter technology. As per the U.S. States Department of Energy (DOE), HEPA filters remove 99.97% of all particles that are greater than 0.3 microns. The technological advancements in the segment are expected to produce a positive impact on the market in the next seven years. These advancements include washable HEPA filters and HEPA 4 technology, which has the Minimum Efficiency Reporting Value (MERV) rating of the filter. It is used to rate the ability of air filters to remove particulate matter from the air.

Filters Insights

The humidifier filters segment is anticipated to register the fastest CAGR of 13.0% during the forecast period due to their rising demand for various therapeutic applications. The rising demand for humidifiers in hospitals, schools, homes, and healthcare entities is expected to boost the growth of the humidifier filters segment as filters are needed to prevent the growth of mold, mildew, fungi, and bacteria in the circulating air. Moreover, the increased prevalence of airborne infections such as tuberculosis leads to a rise in demand for filters in humidifiers, thus affecting the segment growth positively.

The ventilator filter segment is also expected to witness significant growth over the projected period, as it plays a vital role in protecting the safety of patients on mechanical ventilation and reducing the risk of cross-contamination. Furthermore, high demand during the COVID-19 pandemic also contributed to its market size in 2021.  Some of the players in this segment include Medtronic and Omnia Health, among others.

Regional Insights

North America dominated the market and accounted for a revenue share of 51.8% in 2021 owing to the presence of a large geriatric population base and the rising prevalence of chronic respiratory diseases. Furthermore, the major share of the market in North America is due to the availability of reimbursement in U.S. healthcare centers accounts, increasing healthcare awareness, improvement in healthcare infrastructure, increased number of outpatient surgeries, and economic growth favored by broadening insurance coverage.

The government health plans such as Medicaid and Medicare aided by CMS also drive the growth of the therapeutic respiratory devices market in this region. These health plans cover respiratory therapy using respiratory devices such as Continuous Positive Airway Pressure devices for the treatment of COPD and Obstructive Sleep Apnea (OSA). The increasing number of hospitals in North America and rising government funding to the hospitals is accelerating market growth. According to an article published by American Hospital Association, number of hospitals has raised from 6,146 in 2018 to 6,210 in 2019 in the U.S. Technologically advanced devices are being used extensively in hospitals to provide better treatment to patients.

In Asia Pacific, the market is expected to exhibit the fastest growth during the forecast period owing to factors such as the rising prevalence of asthma in adults as well as children and technological advancements. According to statistics released by the Global Initiative for Asthma, it is expected that there will be an increase of an additional 100 million persons with asthma by 2025. Moreover, the increasing need for home healthcare institutions is also a high impact rendering driver of this market in this region. Furthermore, rising disposable incomes and lifestyle-associated changes are also responsible for the significant growth rate in this region over the forecast period.

Key Players

  • BD
  • General Electric Company
  • Chart industries
  • Koninklijke Philips N.V
  • Compumedics Limited
  • ICU Medical, Inc.
  • Invacare Corporation

Market Segmentation

  • By Product Type Outlook
    • Nebulizers
      • Compressor-based Nebulizers
      • Piston based hand held nebulizer
      • Ultrasonic Nebulizer
    • Humidifiers
      • Heated Humidifiers
      • Passover Humidifiers
      • Integrated Humidifiers
      • Built-In Humidifiers
      • Stand-alone Humidifiers
    • Oxygen Concentrators
      • Fixed Oxygen Concentrators
      • Portable Oxygen Concentrators
    • Positive Airway Pressure Devices
      • Continuous Positive Airway Pressure Devices
      • Auto-titrating Positive Airway Pressure Devices
      • Bi-level Positive Airway Pressure Devices
    • Ventilators
      • Adult Ventilators
      • Neonatal Ventilators
    • Capnographs
    • Gas Analyzers
  • By Technology Outlook
    • Electrostatic Filtration
    • HEPA Filter Technology
    • Hollow Fiber Filtration
    • Microsphere Separation
  • By Filters Outlook 
    • Nebulizer filters
      • Inlet filter
      • Replacement filter
      • Cabinet Filter
    • Humidifier Filters
      • Wick filters
      • Permanent cleanable filters
      • Mineral absorption pads
      • Demineralization cartridges
    • Positive Airway Pressure Devices Filter
      • Ultra fine foam inlet filters
      • Polyester non-woven fiber filters
      • Acrylic & Polypropylene fiber filters
    • Oxygen concentrator filters
      • HEPA Filter
      • Cabinet Filter
      • Pre-Inlet Filter
      • Inlet Filter
      • Micro Disk Filter
      • Felt Intake Filter
      • Bacterial Filter
      • Hollow-membrane Filter
    • Ventilator filters
      • Mechanical filters
        • HEPA Filters
        • ULPA Filters
        • Activated Carbon Filters
      • Electrostatic filters
        • Tribocharged Filters
        • Fibrillated Filters
  •  By Regional Outlook
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • Switzerland
    • Asia Pacific
      • Japan
      • China
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa
      • South Africa

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