Dublin, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The "Respiratory Devices Global Market - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global respiratory care devices market is poised for substantial growth, projected to achieve a mid single digit compound annual growth rate (CAGR) from 2022 to 2029, reaching an estimated value of $24,866.6 million by 2029.
This growth is driven by technological advancements in respiratory care devices, which are continuously enhancing the effectiveness and accessibility of treatments. Funding for the development of innovative respiratory technologies also contributes significantly to the expansion of the market.
The increasing incidence and prevalence of respiratory diseases such as Asthma and COPD are major drivers for the market's upward trajectory. With the growing elderly population, respiratory disorders are on the rise, further fueling the demand for advanced respiratory care solutions.
Non-invasive respiratory care devices are gaining popularity, providing patients with more comfortable and efficient treatments. Additionally, favorable reimbursement policies are creating favorable conditions for market growth.
Despite the optimistic outlook, the market faces certain challenges. Product recalls and adverse effects associated with some respiratory care devices have raised concerns. Moreover, the availability of alternative respiratory care devices and stringent regulations present obstacles to market expansion. However, ongoing research and development efforts aim to address these issues and propel the market towards a promising future.
Report Highlights:
Product Segmentation: The respiratory care devices market is divided into diagnostic, therapeutic, monitoring devices, and consumables. Among these, therapeutic devices lead the market, with a projected mid single-digit CAGR growth from 2022 to 2029.
Key Therapeutic Devices: The therapeutic devices market is further segmented into various categories such as humidifiers, nebulizers, oxygen concentrators, PAP devices, ventilators, inhalers, neuromodulation devices, and airway clearance devices. PAP devices dominate the global market, showing a high single-digit CAGR growth, while neuromodulation devices are expected to witness a high double-digit CAGR growth from 2022 to 2029.
Comprehensive Analysis of Humidifiers and Nebulizers: The humidifiers market includes active and passive humidifiers, with active humidifiers holding the largest revenue in 2022 and projected to grow at a low single-digit CAGR from 2022 to 2029. The nebulizers market comprises jet nebulizers, ultrasonic nebulizers, mesh nebulizers, and smart nebulizers, with jet nebulizers as the top revenue generator in 2022 and expected to grow at a mid single-digit CAGR from 2022 to 2029.
Monitoring Devices: Monitoring devices encompass pulse oximeters, capnographs, gas analyzers, and others. Among these, pulse oximeters lead the market with a low single-digit CAGR growth from 2022 to 2029, while capnographs are projected to grow at a low single-digit CAGR during the same period.
Application and End-User Segmentation: The market is segmented based on applications into obstructive, restrictive, vascular, infectious, and other respiratory conditions. Obstructive respiratory conditions hold the largest revenue in 2022 and are anticipated to grow at a mid single-digit CAGR from 2022 to 2029. Hospitals are the largest end-user segment in 2022, with the market expected to grow at a mid single-digit CAGR during the forecast period.
Regional Analysis: North America leads the market in 2022 and is projected to grow at a mid single-digit CAGR from 2022 to 2029. Asia-Pacific is expected to witness high single-digit CAGR growth, driven by increasing healthcare expenditure, rising prevalence of respiratory disorders, and government initiatives promoting research and development of innovative respiratory care technologies.
The major companies in Respiratory care devices are
- Medtronic (Ireland)
- Getinge Groups (Maquet GmbH) (Sweden)
- Vyaire Medical, Inc (U.S.)
- Resmed Inc (U.S.)
- Philips N.V. (TheNetherlands)
- Fisher and Paykel healthcare (New Zealand)
- Dragerwerk AG & Co. KGaA (Germany)
- Air Liquide S.A (France)
- Masimo (U.S.)
- Inspire Medical (U.S.)
Market Dynamics
Drivers and Opportunities
- Rising Incidences of Respiratory Diseases Such as Copd, Asthma, and Sleep Apnea, Which Has Resulted in a Higher Demand for Respiratory Care Devices
- Growing Geriatric Population and the Consequent Increase in the Incidence of Respiratory Disorders Among Them, Creating a Substantial Demand for Respiratory Care Devices
- Rising Use of Non-Invasive Respiratory Care Devices
- Advancements in Respiratory Care Devices and Funding for the Development of Innovative Respiratory Care Technologies
- Favorable Reimbursement Scenario
Restraints and Threats
- Product Recalls
- Harmful Side Effects Associated With the Use of Certain Respiratory Care Devices
- Availability of Low-Cost Products from Local Manufacturers
- Availability of Alternatives Treatments Such as Medication and Surgery
- Stringent Regulatory Policies
Regulatory Affairs
- U.S.
- Europe
- India
- China
- Japan
- Iso Standards
Porter's Five Force Analysis
Supply Chain Analysis
Market Share Analysis
- Respiratory Care Devices Global Market Share
- Ventilator Global Market Share Analysis
- Pap Global Market Share Analysis
- Cpap Global Market Share Analysis
- Apap Global Market Share Analysis
- Bpap Global Market Share Analysis
Reimbursement Scenario
Technological Advancements
- Integrated Devices
- Non - Invasive Nanosensor Based Wearble Respiratory Monitoring
- Ai Based Respiratory Monitoring
- High Velocity Therapy
- Digital Technologies in Respiratory Devices
- Advanced Neonatal Respiratory Solutions
- Neonatal Lung Monitoring
- Neovent
- Self - Care Respiratory Monitor
Funding Scenario
Clinical Trials
Companies Mentioned
- AB Industries ( Max Ventilator)
- ABM Respiratory Care
- Acare Technology Co., Ltd.
- Acurable
- Aevice Health
- Air Liquide Medical Systems SA
- Airon Corporation
- ALBEDO Medical Devices Co.,Ltd.
- Ambu A/S
- Avanos Medical
- Baxter International INC (Hillrom)
- Besco Medical Co.Ltd.
- Besmed Health Business Corp.
- Bio-Med Devices, Inc.
- Bird Healthcare
- BPL medical technologies
- Breas Medical
- Bunnell Inc.
- Caire Inc.
- Carl Reiner GmbH
- ChoiceMMed (Beijing Choice Electronic Technology Co., Ltd)
- CIDELEC
- Mindray
- Monaghan Medical Corporation
- Movair
- ndd Medical Technologies
- Neola Medical
- nice Neotech Medical Systems Private Limited
- Nihon Kohden Corporation
- Nonin Medical Inc
- Nonin Medical, Inc
- Nox Medical
- O2 concepts. LLC
- Omron Healthcare
- O-Two Medical Technologies Inc.
- Oxitone Medical Ltd
- Cleveland Medical Devices Inc.
- Compumedics
- Contec Medical Systems Co.,Ltd
- Cosmed srl
- Deas S.R.L.
- DeyMed Diagnostic s.r.o (Czech Republic)
- Diamedica Limited
- DR Burton Healthcare LLC
- Dragerwerk AG & Co. KGaA
- Drive Medical (Devilbiss Healthcare)
- dymedso inc
- ESAB Corporation (GCE Healthcare)
- FANEM Ltda
- Fisher and Paykel healthcare
- Flexicare Medical Limited
- Flight-Medical Innovations Ltd.
- Galemed Corporation
- GE Healthcare
- Geratherm Respiratory GmbH
- Gerresheimer
- Getinge Groups
- Hamilton Medical AG
- PARI Medical Holding GmbH
- Philips N.V.
- Precision Medical Inc
- Pulmodyne, Inc
- React Health
- Recipharm
- Resmed, Inc
- Senzime (Respiratory Motion Inc)
- Servona GmbH
- Shenyang Canta Medical Tech. Co., Ltd.
- Shenzhen Homed Medical Device Co.Ltd.
- Strados Labs
- Hans Rudolph, Inc
- Hayek Industries Inc
- Heyer medical AG
- Hospitech respiration
- Iconovo
- ICUmedical (Smith medical)
- Inspiration Healthcare Group PLC
- Inspired Medical
- Intersurgical Ltd
- Jiangsu Yuyue Medical Equipment & Supply Co., Ltd.
- Lowenstein Medical
- Masimo corporation
- Medel International srl
- Medical Developments International UK Limited
- Medical Econet GmbH
- medin Medical Innovations GmbH
- MediPines Corporation
- Medtronic, PLC
- MEK-ICS Co Ltd
- Mercury medical
- Merxin Ltd
- MicroBase Technology Corporation
- Sibelmed
- SOMNOmedics GmbH
- SunMed, LLC
- Sunset Healthcare Solutions Inc.
- Tecme S.A.
- Trudell Medical
- Vapotherm Inc.
- Vitalograph, Inc
- Vyaire Medical Inc.
- WILAmed GmbH
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