The Global Respiratory Care Devices Market is projected to grow at a CAGR of 9.0% from USD 18.41 billion in 2023 to USD 37.04 billion in 2032. Growing pace in the adoption of the respiratory care devices for diagnosis, treatment and continuous monitoring of the respiratory tracts and organs to inhibit the chronic respiratory diseases like COPD, tuberculosis, pneumonia, and asthma, among others and extensive demand owing to coronavirus respiratory care systems.
Technological innovation is one of the major factor propelling the market growth. For instance, in 2023, FindAir a European company received CE mark for its FindAir ONE smart inhaler. World Health Organization (WHO) had reported that Asthma affects about 300 million people worldwide, and 250,000 have died due to Asthma worldwide. In 2023, approximately 65 million people had COPD across the globe; among that around 16 million Americans had COPD and is estimated to grow.
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Moreover, air pollution, climate changes, allergies are further driving the market growth. The development of technologically advanced devices, regulatory approvals, and product launches are driving the market growth. However, the lack of awareness among individuals about respiratory devices, especially in the underdeveloped countries and inefficient reimbursement are the factors hindering the growth of the market.
Respiratory care devices are being extensively used for treatment, diagnosis monitoring, and controlling respiratory disorders. Rising prevalence of respiratory diseases, and increasing adoption of smoking & alcohol consumption are the primary factors fuelling the market.
COVID-19 Impact:
The recent outbreak of COVID-19 has reported significant growth in the respiratory care devices market. As the spread of Coronavirus (COVID-19) persists throughout hospitals are facing shortages of costlier devices such as ventilator. Several researchers are developing new ventilators that can quickly assembled. For instance, team at MIT called as MIT E-Vent working in consultation with local physicians designed a simple ventilator device that could be built. That can be built at lower cost. To overcome the situation, In the U.S., emergency plans have been developed by states for a shortage of ventilators include using positive airway pressure machines. It is used to sleep apnea which would help hospitalized people with less severe breathing issues. Furthermore, as cities and hospitals across the globe are overrun with coronavirus patients, the acute shortage of medical equipment such as ventilators is known to be the biggest problem for the hospital. According to the World Health Organization (WHO), some 80% of people with Covid-19 – the disease caused by coronavirus – recover without needing hospital treatment. But one person in six becomes seriously ill and can develop breathing difficulties. According to Johns Hopkins University, the demand for ventilator demand can be as high as 1 million in the country. Considering the scenario in March 2020, availability in India is estimated to have between 30,000 and 50,000 ventilators and U.S. US has about 160,000 and is running short in most places. As the navigate the solution for the global pandemic COVID- 19 outbreak, the demand for respiratory care devices will be inelastic.
Applications Outlook:
Based on the application segment the respiratory devices are used for the treatment and diagnosis of Asthma and also have obtained a remarkable growth in the market value of about USD 4.58 billion in the year 2023 and is likely to rise with a CAGR of 8.7% in the forecast period
End Use Outlook:
Hospitals in the end use segment will obtain the largest growth due to the availability of technologically advanced treatment devices and skilled professionals for operating the equipment.
Products Outlook:
Based on the products segment, therapeutic devices have obtained the largest share in the market about 31.0% in the year 2023 due to the rise in the incidences of respiratory disorders like COPD, Asthma, Sleep Apnea, etc.
CPAP devices tend to cause claustrophobia and, noisy air, and poor fitting mask makes it uncomfortable for the patients. For this reason, in 2023, Philips designed software that works on the tablet. It is a mask-fitting software that uses a mounted camera for a 3D scan; in this case, the patient’s face is synced with cloud-based algorithms for facial analysis, to generate a mask recommendation.
Regional Outlook:
North America have obtained the largest market due to the prevalence of respiratory diseases like COPD, Asthma, and obstructive sleep apnea. Lifestyle habits like smoking and consumption of alcohol and better healthcare facilities have further boosted the market
Market-O-Nomics
- Based on the products segment, therapeutic devices have obtained the largest share in the market about 31.0% in the year 2023 due to the rise in the incidences of respiratory disorders like COPD, Asthma, Sleep Apnea, etc.
- Based on the application segment, the respiratory care devices were found to be used widely in COPD patients due to the rise in the number of smokers, air pollution, etc.
- Hospitals in the end use segment will obtain the largest growth due to the availability of technologically advanced treatment devices and skilled professionals for operating the equipment
- Based on the application segment the respiratory devices are used for the treatment and diagnosis of Asthma and also have obtained a remarkable growth in the market value of about USD 4.58 billion in the year 2023 and is likely to rise with a CAGR of 8.7% in the forecast period
- North America have obtained the largest market due to the prevalence of respiratory diseases like COPD, Asthma, and obstructive sleep apnea. Lifestyle habits like smoking and consumption of alcohol and better healthcare facilities have further boosted the market
Companies considered and profiled in this market study
Philips Healthcare (Netherlands), ResMed Inc. (US), Medtronic plc (Ireland), Masimo Corporation (US), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Chart Industries (US), Drager AG (Germany), Invacare Corporation (US), Getinge AB (Sweden), Air Liquide (France), Hamilton Medical AG (Switzerland), Vyaire Medical (US). GE Healthcare (US), Nonin Medical Inc. (US), Apex Medical Corp. (Taiwan), Smiths Group (UK), Omron Healthcare Inc. (US), Allied Healthcare Products, Inc. (US), Teleflex Incorporated (US), DeVilbiss Healthcare LLC (US), Convexity Scientific (US), CAIRE (US), Oventus Medical’s (Australia)., among others are leading players involved on the global Respiratory Care Devices market.
- In the year 2023, the USFDA cleared Oventus Medical’s O2Vent Optima, it is a customized 3D-printed nylon oral appliance, for the treatment of obstructive sleep apnea. It is a mandibular device that consists of a separate airway to add stability to the upper airway for the patients throughout the night. The FDA clearance proved beneficial for Oventus Medical’s for the sale of O2 Vent Optima in Australia and Canada.
- Philips, in the year 2018, launched a portable and small hand-held nebulizer known as Innospire. This technology proved to be beneficial in providing portable, fast, and effective medication delivery and has also proven to reduce treatment time by up to 25%. InnoSpire transforms the medication into ultra-fine droplets so that it can penetrate the lungs effectively and efficiently and provide a new level of ease to patients with respiratory diseases.
- In 2018, Convexity Scientificlaunched its Flyp nebulizer for COPD and asthma patients it is a held handheld, the pocket-sized device was approved by the FDA in the year 2023. Convexity’s nebulizer comprises an internal vibrating disk that produces an inhaled aerosol mist to deliver medication deep into patients’ lungs.
- CAIRE, in 2023, launched FreeStyle, it is a portable oxygen concentrator. It is being designed to deliver oxygen bolus as the user’s respiratory rate. FreeStyle Comfort is designed to be comfortable for wear due to its unique ergonomic design. It has also met FAA guidelines for use on commercial air flights and also offers wireless connectivity.
- Masimo, in 2023, received an FDA 510(k) clearance for Rad-97 pulse co-oximeter and had launched it in the US. Rad-97 consists of a multi-touch display, a small footprint, and easy configuration; it also comprises of WiFi and supported Bluetooth wireless connections to related compatible devices like thermometers, glucometers, and weight scales.
Start-up Traction
The Respiratory Care Devices Market industry poses significant amount of opportunities for small manufacturers and startups to come up with cost-effective solutions in manufacturing of Respiratory Care Devices products. Many innovative start-ups that are growing remarkably have been profiled in the report with all their innovative techniques and developments. There is a continuous growth in demand from the end-users, which can encourage several startups to launch innovative products in this market.
Deals Landscape
Mergers and Acquisitions are an integral part of this industry. These mergers and acquisitions help us decide the strategic initiatives taken up by the leading players as well as growing companies dealing in this market, and have been included in this report.
- ResMed Inc., in the year 2023, completed its acquisition with Propeller Health, a digital therapeutics company. This acquisition claims to strengthen ResMed’s products in COPD and other chronic diseases.
- Medtronic in the year 2023, announced the complete acquisition with Klue. Klue’s technology is expected include the Medtronic Personalized Closed Loop (PCL) insulin pump system. Klue’s has a unique early meal detection technology that can help in transforming diabetes care; this is expected to be a huge opportunity for Medtronic in diabetes care.
Expert Insights:
Reports and Data forecasts in the Respiratory Care Devices industry having considered the interviews with some of most the prestigious personalities and experts in this market. According to the industry experts, vapor recovery system, flare gas composition, gas recovery unit, casing vapor recovery, elevated flare, ground flare, vapor recovery nozzle functions, flare design, flare radiation zone, types of flare system are some of the most demanding topics that the end-users are concered about. The importance of emitting the dangerous gases to lower the environmental harm, the flaring is necessary. Flare gas capture companies continuously focus on gas flaring solutions, bakken flaring, biogas flare, flare pit, gas flaring reduction technology to offer innovative solutions that heighten their product demand deliberately.
Segments covered in the report
For the purpose of this purpose have segmented the Respiratory Care Devices market on the basis of products, indications, end use, and region:
Products Outlook (Revenue: USD Billion; 2023-2032)
- Therapeutic Devices
- PAP Devices
- Continuous Positive Airway Pressure (CPAP) Devices
- Automatic PAP (APAP) Device
- Bi-Level PAP (BPAP) Devices
- Ventilators
- ICU Ventilators
- High-end ICU Ventilators
- Mid-end ICU ventilators
- Basic ICU Ventilators
- Portable/Transportable Ventilators
- Nebulizers
- Humidifiers
- Heated Humidifiers
- Passover Humidifiers
- Oxygen Concentrators
- Fixed Oxygen Concentrators
- Portable Oxygen Concentrators
- Inhalers
- Metered Dose Inhalers (MDIs)
- Dry Powder Inhalers (DPIs)
- Reusable Resuscitators
- Adult Resuscitators
- Infant/Neonatal Resuscitators
- Nitric Oxide Delivery Units
- Oxygen Hoods
- PAP Devices
- Monitoring Devices
- Pulse Oximeters
- Pulse oximeter sensors
- Pulse Oximeter equipment
- Capnographs
- Gas Analyzers
- Pulse Oximeters
- Diagnostic Devices
- Spirometers
- Polysomnography Devices
- Peak Flow Meters
- Other Diagnostic Devices
- Consumables and Accessories
- Masks
- Reusable Masks
- Nasal Masks
- Full-face Masks
- Nasal pillow masks
- Oral Masks
- Disposable Masks
- Masks
- Disposable Resuscitators
- Breathing Circuits
- Tracheostomy Tubes
- Nasal Cannulas
- Others
Indications Outlook (Revenue: USD Billion; 2023-2032)
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Sleep Apnea
- Infectious Disease
- Lung Cancer
- Tuberculosis
- Idiopathic Pulmonary Fibrosis
End Use Outlook (Revenue: USD Billion; 2023-2032)
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
Regional Outlook (Revenue: USD Billion; 2023-2032)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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