Respiratory Care Devices Market Segmented By Diagnostic Devices, Therapeutic Devices, Monitoring Devices Product in Hospitals, Home Care
Industry: Healthcare
Published Date: September-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP3683
The global respiratory care devices market is anticipated to increase from a valuation of US$ 18.5 Bn in 2022 to US$ 41 Bn by the end of 2032, expanding at a high-value CAGR of 8.3%.
Based on product, therapeutic devices account for the largest market share, while regional analysis reveals that North America accounts for over half of the global market share.
| Report Attribute | Details |
|---|---|
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Respiratory Care Devices Market Size (2022E) |
US$ 18.5 Bn |
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Projected Sales of Respiratory Care Devices (2032F) |
US$ 41 Bn |
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Global Market Growth Rate (2022-2032) |
8.3% CAGR |
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Value Share of North America (2021A) |
51.5% |
“Rising Count of Chronic Pulmonary Obstructive Diseases”
In recent years, there has been a noticeable increase in the number of patients suffering from chronic pulmonary obstructive diseases. The growing incidence of these diseases is attributed to the constant changes in lifestyles along with environmental factors such as increasing pollution levels.
In addition, the launching of novel products and a strong pipeline of respiratory care devices are also predicted to propel the sales opportunities in the market.
“Increasing Geriatric Population across the World”
In the past few years, there has been a significant increase in the population of geriatric people around the world.
These people are prone to different respiratory diseases owing to their weaker immune systems. This rising count of respiratory diseases, resulting in the increased need for effective healthcare solutions for elderly people, will stimulate sales opportunities in the market.
“Lack of Awareness in Developing Regions about Advanced Products”
Several developing regions across the globe are unaware or less aware of the services from the respiratory care devices market. This factor is predicted to limit the adoption of these solutions in the industry.
Some harmful effects of respiratory care devices on numerous neonates are estimated to limit growth avenues in the market. In addition, excise tax on respiratory care devices by some countries is also projected to have an adverse impact on product sales over the coming years.
North America has been projected to hold the largest share in the respiratory care devices industry, followed by Europe.
Growth avenues in the market are attributed to the highly developed healthcare infrastructure in these regions. Along with this, a large patient pool suffering from respiratory diseases owing to lifestyle changes, including tobacco habits and smoking, is expected to contribute to the growth opportunities in these regional markets.
Further, the easy availability of various trained personnel for the operation of advanced respiratory devices has also been predicted to aid market expansion.
Respiratory care devices are the branch of medical devices focused on the treatment, management, control, diagnostic evaluation, and care of patients with abnormalities in the cardiopulmonary system.
The devices are used in chronic obstructive pulmonary diseases (COPD), a degenerative lung diseases, which primarily include chronic bronchitis and emphysema. The market is witnessing decent growth as COPD is one of the leading causes of death globally.
In the product segment, the respiratory therapeutic devices market accounted for the largest share globally in 2014. Major driving factors for the therapeutic devices market were increasing adoption of various devices such as humidifiers, nebulizers, and oxygen concentrators due to the increasing prevalence of respiratory diseases, and the rising geriatric population.
Key players in the global respiratory care devices market are Philips Healthcare (Netherlands), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), ResMed, Inc. (U.S.), Covidien plc (Ireland), and CareFusion Corporation (U.S.).
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Details |
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Forecast period |
2022-2032 |
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Historical data available for |
2017-2021 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report Coverage |
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Customization & pricing |
Available upon request |
By Product Type:
By End User:
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To know more about delivery timeline for this report Contact Sales
The current value of the respiratory care devices market is 18.5 Bn.
Based on product type, therapeutic devices lead the market.
North America accounted for a leading market share of 51.5% at the end of 2021.
Philips Healthcare, Masimo Corporation, Fisher and Paykel Healthcare Limited, ResMed, Inc., Covidien Plc., and CareFusion Corporation are prominent respiratory care device manufacturers.
