USD 16.97 Billion
Respiratory Devices Market Size, Share, Growth Analysis, By Product(Nebulizers, Capnographs, Humidifiers, Oxygen Concentrators), By Technology(Electrostatic Filtration, HEPA Filter Technology, Hollow Fiber Filtration, Microsphere Separation), By End-user(land-based casinos and online casinos), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2669 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
91
|Figures:
76
Respiratory Devices Market Insights
Respiratory Devices Market size was valued at USD 18.0 Billion in 2022 and is poised to grow from USD 19.01 Billion in 2023 to USD 30.67 Billion by 2031, at a CAGR of 6.10% during the forecast period (2024-2031)
The global respiratory devices market is witnessing steady growth and is expected to continue expanding in the coming years. This growth is primarily driven by factors such as the increasing prevalence of respiratory diseases, rising geriatric population, and growing awareness about the importance of respiratory care. The market encompasses a wide range of devices and equipment used in the diagnosis, treatment, and management of respiratory conditions. One of the key growth drivers is the rising incidence of chronic respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and sleep apnea. These conditions require long-term management and often necessitate the use of respiratory devices to support breathing and improve patients' quality of life. Additionally, the aging population is prone to respiratory ailments, contributing to the market's growth. Technological advancements and product innovations also play a crucial role in driving market growth. Manufacturers are continuously developing advanced respiratory devices that offer improved accuracy, ease of use, and patient comfort. For example, the development of portable and wearable devices has enhanced the mobility and convenience of respiratory care, allowing patients to manage their conditions more effectively.
However, the global respiratory devices market also faces several challenges. One significant challenge is the high cost associated with these devices, which can limit their accessibility, especially in low-income regions. Moreover, stringent regulatory requirements and complex reimbursement processes can pose barriers for market entry and hinder market growth to some extent. Another challenge is the increasing prevalence of counterfeit respiratory devices, which can compromise patient safety and affect the market's reputation. Manufacturers and regulatory authorities are actively working to combat the issue by implementing stringent quality control measures and promoting awareness among healthcare professionals and patients.
US Respiratory Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
HEPA Filter Technology
Fastest Growth
HEPA Filter Technology
Growth Rate
6.10% CAGR
Global Respiratory Devices Market ($ Bn)
Country Share for North America Region (%)
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Respiratory Devices Market Segmental Analysis
The global respiratory devices market is segmented on the basis of product, technology, and region. By product, the market is segmented into Nebulizers, Capnographs, Humidifiers, Oxygen Concentrators, and others. By technology, the market is segmented into Electrostatic Filtration, HEPA Filter Technology, Hollow Fiber Filtration, Microsphere Separation. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Respiratory Devices Market Analysis By Product
With a dominant revenue share, the oxygen concentrators segment is at the forefront of the global respiratory devices market. This segment's dominance can be attributed to various factors, including the increasing demand for home oxygen therapy, the rising prevalence of respiratory diseases, the rapid growth of the aging population, high tobacco consumption, and advancements in respiratory device technologies. Additionally, the COVID-19 pandemic has significantly boosted the demand for respiratory care products, particularly concentrators. For example, Invacare Corporation reported a substantial 72.2% increase in respiratory product sales in North America during the fourth quarter due to the pandemic. The use of oxygen concentrators in the treatment of COVID-19 has been a major driver of the increased demand.
On the other hand, the capnographs segment is projected to experience rapid growth during the forecast period. This growth can be attributed to the expanding utilization of capnography in the management of respiratory disorders. Capnography has proven to enhance medical efficacy in patient monitoring due to its increased reliability and effectiveness. Moreover, the market is expected to witness intense competition due to the presence of numerous startups seeking opportunities in this sector. In May 2020, Koninklijke Philips and Masimo announced a licensing agreement wherein Masimo's measuring technologies, such as NomoLine capnography and O3 regional oximetry, would be integrated into a subset of Philips' IntelliVue MX-series multi-parameter monitors. This collaboration exemplifies the competitive nature of the market as key players seek partnerships to enhance their product offerings and expand their market presence.
Respiratory Devices Market Analysis By Technology
Among the different technologies used in the global respiratory devices market, HEPA (High-Efficiency Particulate Air) filter technology is the dominant segment. HEPA filters are widely recognized for their effectiveness in capturing and filtering out small particles, allergens, and microorganisms from the air. They are commonly used in various respiratory devices, including air purifiers, ventilators, and masks, to provide clean and filtered air for respiratory support.
In terms of the fastest-growing segment, electrostatic filtration is expected to witness rapid growth. Electrostatic filters use an electric charge to attract and capture airborne particles. They are known for their high efficiency in removing pollutants, such as dust, pollen, and bacteria, from the air. Electrostatic filtration technology offers advantages such as low resistance to airflow and long-lasting filter performance, making it increasingly popular in respiratory devices.
Global Respiratory Devices Market By Technology
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Respiratory Devices Market Regional Insights
North America emerged as the dominant region in the global respiratory devices market, commanding a share of over 30.0%. This can be attributed to several factors, including favorable reimbursement policies for outpatient treatments, economic growth facilitated by increased insurance coverage, a significant number of healthcare centers in the US, a growing awareness of healthcare, and advancements in healthcare systems. These factors have collectively contributed to the market's growth and the widespread adoption of therapeutic respiratory devices in North America.
In the Asia Pacific region, the therapeutic respiratory devices market is expected to witness significant expansion. This can be attributed to the increasing prevalence of respiratory illnesses such as asthma, affecting both adults and children, as well as advancements in technology. The rising burden of respiratory diseases has created a demand for innovative respiratory devices that can effectively manage and treat these conditions. Moreover, the Asia Pacific region has seen a surge in home healthcare settings, leading to a greater need for medical oxygen concentrators to support patients in their own residences. While ambulatory surgical centers and hospitals continue to be key end-users of respiratory devices, the growing demand for medical oxygen concentrators in home healthcare settings is a notable trend in the market. The shift towards home-based care reflects the desire for more personalized and convenient healthcare options, particularly for patients requiring respiratory support.
Global Respiratory Devices Market By Region
- Largest
- Fastest
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Respiratory Devices Market Dynamics
Respiratory Devices Market Drivers
Increasing Prevalence of Respiratory Diseases
- The global respiratory devices market is driven by the growing incidence of respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), sleep apnea, and respiratory infections. The rising prevalence of these conditions necessitates the use of respiratory devices for diagnosis, treatment, and management.
Technological Advancements
- Continuous advancements in respiratory device technologies, such as portable and wearable devices, smart inhalers, and advanced ventilation systems, are driving market growth. These innovations enhance patient comfort, improve treatment outcomes, and enable remote monitoring and personalized care.
Respiratory Devices Market Restraints
Limited Reimbursement Policies
- Inadequate reimbursement coverage for respiratory devices, particularly in developing countries, can limit market growth. The lack of comprehensive insurance coverage and reimbursement policies for respiratory devices can discourage patients and healthcare providers from adopting these devices.
Availability of Alternative Treatment Options
- The availability of alternative treatment options, such as medication therapy or surgical interventions, for certain respiratory conditions may affect the demand for respiratory devices. Patients and healthcare providers may opt for alternative treatments, depending on the severity of the condition and individual preferences.
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Respiratory Devices Market Competitive Landscape
The global respiratory devices market exhibits a highly competitive landscape characterized by intense competition among various players. The market is driven by continuous advancements in technology, increasing research and development activities, and the launch of innovative products. Market players focus on strategic collaborations, partnerships, mergers and acquisitions, and product portfolio expansions to strengthen their market position. The competitive environment encourages companies to invest in research and development to introduce advanced respiratory devices with improved functionality and patient comfort. Moreover, companies strive to expand their geographical presence and distribution networks to cater to a wider customer base. With a strong emphasis on product quality, safety, and regulatory compliance, market players ensure adherence to stringent standards and certifications. Overall, the competitive landscape of the global respiratory devices market reflects the industry's dynamic nature and the continuous pursuit of innovation to meet the evolving needs of healthcare providers and patients.
Respiratory Devices Market Top Player’s Company Profile
- Fisher & Paykel Healthcare Corporation Limited (New Zealand)
- Masimo Corporation (US)
- Koninklijke DSM N.V. (Netherlands)
- Vyaire Medical Inc. (US)
- Smiths Medical (UK)
- Hamilton Medical AG (Switzerland)
- GE Healthcare (US)
- Drägerwerk AG & Co. KGaA (Germany)
- Invacare Corporation (US)
- Air Liquide Medical Systems (France)
- Getinge AB (Sweden)
- Chart Industries, Inc. (US)
- Inogen, Inc. (US)
- DeVilbiss Healthcare LLC (US)
- Teleflex Incorporated (US)
- 3M Company (US)
- Nihon Kohden Corporation (Japan)
Respiratory Devices Market Recent Developments
- In January 2023, Philips Respironics announced a recall of certain CPAP and BiPAP machines due to potential health risks.
- In February 2023, ResMed announced the launch of the AirSense 11, a new generation of CPAP machine that is designed to be more comfortable and effective than previous models.
- In June 2023, Philips Respironics announced a recall of certain CPAP and BiPAP machines due to potential health risks.
Respiratory Devices Key Market Trends
- Emphasis on Personalized Medicine: The concept of personalized medicine is gaining traction in the respiratory devices market. Advances in genomics and molecular diagnostics are enabling healthcare providers to tailor treatment approaches based on individual patient characteristics and disease profiles. Personalized respiratory devices, such as adjustable airflow devices and personalized therapy plans, are being developed to optimize patient outcomes.
- Increasing Focus on Airway Clearance Devices: Airway clearance devices are gaining prominence in the respiratory devices market. These devices help clear mucus and secretions from the airways, improving lung function and reducing the risk of respiratory infections. The demand for airway clearance devices is driven by the growing prevalence of chronic respiratory conditions, such as cystic fibrosis and chronic bronchitis.
Respiratory Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global respiratory devices market analysis, North America dominates the market, accounting for a significant revenue share, owing to favorable reimbursement policies, a large patient population with respiratory diseases, and advanced healthcare infrastructure. The Asia Pacific region is expected to witness rapid growth due to the rising prevalence of respiratory illnesses, technological advancements, and increasing healthcare investments. The market is characterized by the increasing demand for home-based respiratory care, fuelled by the aging population and the need for convenient and personalized treatment options. Technological advancements, such as portable and wearable respiratory devices, telehealth solutions, and personalized medicine approaches, are shaping the market landscape.
There is also a growing focus on airway clearance devices, non-invasive ventilation techniques, and the integration of artificial intelligence and data analytics in respiratory devices. Furthermore, sustainability and environmental considerations are gaining importance in device development. With the ongoing impact of global health emergencies, the importance of respiratory devices in managing respiratory diseases and emergencies has been underscored, leading to increased investments and preparedness. Overall, the global respiratory devices market is expected to continue its growth trajectory, driven by evolving patient needs, technological innovations, and supportive healthcare policies.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 18.0 Billion |
| Market size value in 2031 | USD 30.67 Billion |
| Growth Rate | 6.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Respiratory Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Respiratory Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Respiratory Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Respiratory Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Respiratory Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Respiratory Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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