PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1771770
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1771770
The global respiratory care devices market is projected to reach USD 33.6 billion by 2030 from USD 23.6 billion in 2025, at a CAGR of 7.3% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2024-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD billion) |
Segments | Product Type, Disease Indication, End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Various demographic, medical, and environmental determinants form a package fueling market growth in respiratory care equipment. One of them is the increase in the global incidence of respiratory disease. Respiratory diseases such as asthma, sleep apnea, and chronic obstructive pulmonary disease (COPD) are typical examples of respiratory disease, largely because of smoking, aging, and increasingly increasing levels of air pollution. Respiratory support awareness increased with mass deployment of spending on ventilators, oxygen therapy, and monitoring devices during the COVID-19 period.
By product type, the therapeutic devices segment is expected to have the largest market share in the respiratory care devices market.
Therapeutic devices are essential in the treatment and management of most acute and chronic respiratory diseases. They are employed to provide life-supporting respiratory therapy to COPD, asthma, sleep apnea, and respiratory failure patients. The devices include high-flow nasal cannula systems, CPAP and BiPAP devices, nebulizers, ventilators, and oxygen concentrators. The therapeutic equipment market has expanded multi-fold due to the need for long-term home respiratory therapy, the global burden of chronic disease, and hospitalization.
By disease indication, the COPD segment is expected to have the largest market share in the respiratory care devices market.
The respiratory care equipment is dominated by Chronic Obstructive Pulmonary Disease (COPD), which is increasingly a global disease, especially in the geriatric population. This is because of the higher demand for non-invasive ventilators, oxygen concentrators, nebulizers, and monitors. Since COPD is a progressive and irreversible disease, constant attention and long-term respiratory treatment are required for the same. The disease is also caused by high-risk factors prevalent in developing and industrialized societies, including smoking, air pollution, and occupational exposures. Since COPD is hospitalized and has exacerbations, repeated use of respiratory equipment in the home and hospital setting is necessitated.
North America is expected to have the largest market share in the respiratory care devices market.
In North America, the increasing prevalence of chronic respiratory conditions such as asthma, sleep apnea, and COPD can be attributed to an aging population, a long history of smoking, and the growing rates of obesity. The region has a robust healthcare system and a growing awareness of the importance of respiratory health, which allows for early detection and treatment of these conditions. The COVID-19 pandemic boosted the demand for ventilators and oxygen therapy equipment. Medical device manufacturers improved reimbursement policies. There has been a rapid adoption of innovative technologies such as respiratory devices that integrate telehealth and remote monitoring have all played a role in shaping this market.
Prominent players in the respiratory care devices market are Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), ResMed Inc. (US), Fisher & Paykel Healthcare Limited (New Zealand), and Dragerwerk AG & Co. KGaA (Germany).
Research Coverage
The report analyzes the respiratory care devices market and aims to estimate the market size and future growth potential of this market based on various segments such as product type, application, end user, and region. The report also includes a competitive analysis of the key players in this market, along with their company profiles, service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will help the market leaders/new entrants by providing information on the closest approximations of the revenue numbers for the overall respiratory care devices market. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.