REPORT HIGHLIGHT
Respiratory humidifying equipment Market size was valued at USD 8,085.1 Million in 2022, expanding at a CAGR of 7.5% from 2023 to 2030
Respiratory humidifying equipment plays a vital role in providing respiratory treatment to patients by delivering a precise mixture of warm oxygen and air. These devices ensure optimal humidification and oxygen concentration, enhancing the level of oxygen in patients. They are widely used in healthcare systems to supply warm moisture and breathing gas to patients in need of artificial respiration.
Respiratory humidifying equipment Market - Market Dynamics:
- The increasing aging population and the rising prevalence of respiratory diseases to propel market demand
- The global respiratory humidifying equipment market is poised for significant growth, primarily driven by the increasing aging population and the rising prevalence of respiratory diseases. The market's expansion will be further accentuated by the introduction of innovative medical equipment. Supportive government policies and investments from private firms will also contribute to the growing demand for respiratory humidifying equipment worldwide. For instance, Telesair, a medical equipment firm, recently secured substantial funding for developing hospital-to-home respiratory care items, which will boost the market's demand in the coming years. Moreover, the rising demand for new patient care products and growing awareness about respiratory disorders will further propel the growth of the global respiratory humidifying equipment market. As the advantages of respiratory humidifying devices become more widely recognized, the market is expected to witness significant expansion across various regions globally.
Respiratory humidifying equipment Market - Key Insights:
- As per the analysis shared by our research analyst, the global Respiratory humidifying equipment market is estimated to grow annually at a CAGR of around 3.1% over the forecast period (2023-2030)
- The industry is projected to grow at a significant rate due to the increasing aging population and the rising prevalence of respiratory diseases
- Based on Offering, respiratory humidification was predicted to show maximum market share in the year 2022
- Depending upon Application, hospital was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022
Respiratory humidifying equipment Market- Segmentation Analysis:
- The overall respiratory humidifying equipment Market is segmented on the basis of Offering, Application, Sales Channel, and Region.
- The market is divided into two categories based on Offering: active and passive respiratory humidification. Among these segments, the active respiratory humidification segment held more than half of the global market share in 2022 and is projected to achieve the highest Compound Annual Growth Rate (CAGR) in the coming years. This growth can be attributed to the numerous advantages offered by active respiratory humidification, including alarm systems, absence of contraindications, and reduced resistance. Additionally, the product facilitates effortless gas emission, further driving its popularity.
- The market is divided into six categories based on Application: hospital and homecare segments. The hospital segment dominated the global industry in 2022 and is expected to continue leading the segmental growth in the foreseeable future. The segment's expansion can be attributed to the growing demand for respiratory humidifying equipment in hospitals, supported by the availability of proper medical treatment and the presence of skilled physicians readily accessible to patients.
Respiratory humidifying equipment Market- Competitive Landscape:
Companies in the respiratory humidifying equipment market are actively engaged in various endeavors to capitalize on the growing demand for innovative respiratory care solution. Additionally, companies are exploring opportunities for collaborations and partnerships to expand their market presence and gain access to new markets.
Recent Developments:
In January 2023, Honeywell and Telesair, Inc., a pioneering company in next-generation respiratory care, have collaboratively disclosed the successful completion of Telesair's Series A funding round, raising a substantial sum of $22 million. This financing was led by Pasaca Capital and saw participation from a blend of existing and new investors, including ZhenCheng Capital, Shangbay Capital, Device of Tomorrow Capital, Berkeley Catalyst Fund, and Ultrastar Ventures LLC. This significant investment marks the companies' dedication to enhancing respiratory care solutions and expanding their presence in the respiratory humidifying equipment market.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL RESPIRATORY HUMIDIFYING EQUIPMENT MARKET KEY PLAYERS
- Fisher & Paykel Healthcare
- Seungil Electronics
- Teleflex Incorporated
- Hefei MT Medical Co. Ltd.
- Niceneotech
- Intersurgical
- Hamilton Medical
- Pigeon Medical
- Vapotherm
- Flexicare
GLOBAL RESPIRATORY HUMIDIFYING EQUIPMENT MARKET, BY OFFERING
- Active respiratory humidification
- Passive respiratory humidification
GLOBAL RESPIRATORY HUMIDIFYING EQUIPMENT MARKET, BY APPLICATION
GLOBAL RESPIRATORY HUMIDIFYING EQUIPMENT MARKET, BY SALES CHANNEL
GLOBAL RESPIRATORY HUMIDIFYING EQUIPMENT MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA