Wilmington, Delaware, United States, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – According to Transparency Market Research, the global heated humidifiers market was valued at US$ 2.1 Bn in 2021 and is estimated to reach US$ 3.3 Bn by 2031. The market research study estimates the global industry is likely to grow at a CAGR of 4.6% from 2022 to2031. Surge in prevalence of respiratory conditions and increase in demand for heated humidifiers that feature higher energy-efficiency are the major drivers of this market.
Energy efficiency and improved indoor air quality are fueling the growth of the integrated humidifiers segment. Prevention of the spread of infections and alleviation of symptoms of respiratory disorders are also boosting the market for heated humidifiers. North America is projected to dominate the industry during the forecast period, due to the rapid adoption of humidifiers in homes, as well as healthcare facilities, and the presence of major players in the market.
Heated Humidifiers Market: Key Findings of Report
- Surge in Prevalence of Respiratory Diseases: The World Health Organization (WHO) estimates that 235 million people worldwide currently have asthma, with an additional 384 million projected to develop the condition by 2025. Rise in prevalence of respiratory diseases such as asthma and COPD is driving the demand for heated humidifiers. These devices help to alleviate symptoms of respiratory health conditions and prevent the spread of infections.
- Technological Advancements: The development of novel technologies and innovations in heated humidifiers presents substantial opportunities for businesses in the industry. For instance, integration of IoT and smart technology in heated humidifiers is enabling remote monitoring and control of the device, making it more user-friendly. Manufacturers are also focusing on the development of humidifiers to meet the requirement of pediatric patients, which is anticipated to drive market growth. Additionally, the use of UV-C light technology in humidifiers is increasing, as it helps to eliminate microorganisms and bacteria in the air, making it safer for patients with respiratory diseases.
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Heated Humidifiers Market: Growth Opportunities
- Growth in demand for energy-efficient humidifiers bolsters market growth
- Development of humidifiers specifically designed for pediatric patients creates attractive business opportunities for industry players
- Expansion of healthcare and residential sectors boosts industry growth
Heated Humidifiers Market: Key Players
The global industry for heated humidifiers is highly competitive with several leading players. Some of the major players in the market include Armstrong Medical, Fisher & Paykel, Westmed, Inc., ResMed, Norditalia, Carefusion, Philips Healthcare, Pigeon Medical, Kranz, and Pic Solution. These companies have made significant investments in the development of heated humidifiers and have a strong presence in the market.
Additionally, several startups and smaller companies are emerging in the market, such as Hamilton Medical and Shenyang RMS. These companies focus on specific areas of heated humidifiers. The competitive landscape is expected to become more intense in the future with the entry of new players and increase in investment in the development of heated humidifiers.
Heated Humidifiers Market: Regional Growth Assessment
North America is expected to lead the industry during the forecast period. This can be ascribed to rise in prevalence of respiratory disorders and allergies in the region, as well as surge in demand for energy-efficient heated humidifiers. Additionally, factors such as rapid urbanization and increase in disposable income are also likely to bolster market growth in North America.
Europe is expected to hold the second largest share in the global market, due to the presence of a large patient population suffering from respiratory disorders and the adoption of advanced technologies in the healthcare sector. Asia Pacific is also expected to register significant growth in the market due to the rise in awareness about the benefits of heated humidifiers and growth in healthcare expenditure in the region.
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Heated Humidifiers Market: Segmentation
Heated Humidifiers Market, by Type
- Integrated Humidifiers
- Standalone Humidifiers
- Built-in Humidifiers
Heated Humidifiers Market, by End-user
- Hospitals & Clinics
- Home Care
- Others
Heated Humidifiers Market, by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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