Therapeutic Respiratory Devices Market Size, Share, Growth Analysis, By Product(Nebulizer, Humidifiers, Oxygen concentrators, Positive Airway Pressure Devices), By Technology(Electrostatic Filtration, HEPA Filter Technology, Hollow Fiber Filtration, Microsphere), By End Use(Hospital, Homecare Settings, Emergency Centers), By Application(COPD, Obstructive Sleep Apnea, Asthma, Respiratory Distress Syndrome), By Filters(Nebulizer filters, Humidifier Filters, Positive Airway Pressure Devices Filter, Oxygen concentrator filters), By Region - Industry Forecast 2024-2031

Global Therapeutic Respiratory Devices Market size was valued at USD 47 billion in 2019 and is poised to grow from USD 48.88 billion in 2023 to USD 64.5 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

Therapeutic respiratory devices are intended to help patients in need of support for breathing, carbon dioxide removal and therapy to prevent abdominal wall muscles from atrophying due to lack of use. The factors fueling market expansion are surge in ageing population, increase in respiratory disease prevalence, and swift technology advancements. Additionally, the market is anticipated to rise as more people use therapeutic respiratory equipment such nebulizers, humidifiers, and oxygen concentrators. As these devices offer medical intervention in both acute and chronic patient care, respiratory therapeutic devices are more preferred by doctors and patients for the treatment of respiratory illnesses. The prevalence of smoking-related respiratory diseases is rising along with the number of smokers. The market share is therefore driven by rising rates of various respiratory disorders and technical improvements in therapeutic devices.

US Therapeutic Respiratory Devices Market is poised to grow at a sustainable CAGR for the next forecast year.