Global Respiratory Care Device Market Report and Forecast 2024-2032

Global Respiratory Care Device Market Size

The global respiratory care device market reached a value of around USD 21.67 billion in 2023, fuelled by the rise in severe respiratory diseases across the globe. The market is expected to grow at a CAGR of 8.60% during the forecast period of 2024-2032 and expected to attain a market value of around USD 45.51 billion by 2032.

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Global Respiratory Care Device Market Outlook

• The market for respiratory care devices is expanding as a result of the rise in respiratory disorders. Lung cancer and other serious respiratory disorders are on the rise as a result of sedentary lifestyles and demanding schedules, along with the increased rates of smoking and alcohol intake.

• The respiratory care device market is anticipated to benefit from governmental and non-profit initiatives, like the Global Initiative for Asthma (GINA), several awareness campaigns, funding for research to make high-quality healthcare facilities available to everyone, along with the formation of new and improved healthcare infrastructure.

• The rise in the elderly population and the frequency of preterm births are also influencing the need for respiratory care devices.

Global Respiratory Care Device Market Overview

Respiratory devices refer to equipment used in the medical field to assist people with breathing complications. These include medical oxygen concentrators, nebulizers, and ventilators. It works to help patients with various respiratory diseases like chronic obstructive pulmonary disease (COPD), acute respiratory distress syndrome (ARDS), fibrosis, and asthma.

The market is driven by increasing prevalence of respiratory conditions, leading to heightened use of such devices. The sudden outbreak of COVID-19 also impacted the market significantly and led to a higher demand for personal protective equipment (PPE) and ventilators.

Global Respiratory Care Device Market Growth Drivers

Burgeoning Cases of Respiratory Illnesses are Expected to Drive the Market Growth

COPD and asthma are common respiratory illnesses that increasing globally. The rising incidence of such diseases has raised the need for respiratory monitoring equipment significantly. As a result, Advancements have been made in portable nebulizers and smart inhalers. Such advancements can help patients follow the treatment plan as well as improve outcomes. Rising awareness of respiratory health and global aging also boosts demand for these devices.

Technological Advancements Boosts the Market Growth

The advancement of technology plays a crucial role in the global market. Some innovations in respiratory care have boosted patient care and healthcare delivery. They include better ventilators, nebulizers, and portable oxygen concentrators. AI and machine learning are becoming more important in diagnosing respiratory diseases. They can improve the patient’s experience by enabling better healthcare processes and decision support. This support can offer more accurate and personalized treatment suggestions. So, these technologies are driving market growth.

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Global Respiratory Care Device Market Trends

Recent Development in the Global Respiratory Care Device Market

In March 2024, Medline, a well-established supplier of medical equipment and solutions, won the license for AG Cuffill and intellectual properties from Hospitech Respiration Ltd. AG Cuffill is a small easy-to-use device and measures the pressure and volume of airway cuffs consistently in clinical practice. This move expands Medline’s product offering and aims to help healthcare professionals track airway cuffs. This will reduce medical adverse effects and improve individual situations.

In February 2024 -Aircurve 11 series of ResMed utilized inspiratory positive airway pressure (IPAP) and expiratory positive airway pressure (EPAP) along with digital features. Such innovative designs are especially valuable for healthcare practitioners and patients, making it easier to diagnose and treat sleep apnea. This device has better features and navigation, which will improve therapy benefits and increase satisfaction in sleep apnea.

Global Respiratory Care Device Market Segmentation

Market Breakup by Product

• Therapeutic Respiratory Care Devices
  • Positive Airway Pressure (PAP) Devices
  • Oxygen Concentrator
  • Ventilators
  • Inhalers
  • Nebulizers
  • Humidifiers
  • Reusable Resuscitators
  • Nitric Oxide Delivery Units
  • Oxygen Hoods

• Respiratory Care Monitoring Devices
  • Pulse Oximeter
  • Capnography
  • Gas Analyzers

• Diagnostic Respiratory Care Devices
  • Spirometer
  • Polysomnography Devices
  • Peak Flow Meter
  • Others

Market Breakup by Disease Indications

• COPD

• Asthma

• Sleep Apnea

• Infectious Disease

• Others

Market Breakup by End User

• Hospitals

• Home Care

• Ambulatory Care

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Global Respiratory Care Device Market Share

Market Share by Product Type Poised for Growth

Based on the product, the market is further segmented into therapeutic respiratory care devices (positive airway pressure (PAP) devices, oxygen concentrator, ventilators, inhalers, nebulizers, humidifiers, reusable resuscitators, nitric oxide delivery units and oxygen hoods), along with respiratory care monitoring devices (pulse oximeter, capnography, gas analyzers) and diagnostic respiratory care devices (spirometer, polysomnography devices, peak flow meter, others). Out of these therapeutic applications, inhalers, ventilators, and nebulizers are some of the key monitoring devices that dominate the market because of application in COPD and asthma treatment.

Self-usage inhalers and nebulizers are now more accessible globally. They meet the needs of aging people and the rise of chronic respiratory diseases. They allow for easy drug and protein delivery to the lungs. Other products, like pulse oximeters and gas analyzers, are also poised to experience growth. This can be due to their non-invasive respiratory health checks and accurate data tracking.

Market Segmentation Based on the Disease Indications Set to Drive Market Growth

Based on disease indications, the market is further segmented into COPD, asthma, sleep apnea, infectious diseases, and others. Among these, COPD stands out as the predominant segment and is the third-largest cause of death globally. Cigarette smoking remains the leading cause of COPD, with at least 70% of patients worldwide affected by it. Around 30-40% of affected individuals are present in low- and middle-income countries (LMICs). Household pollution also adds to the problem and lead to growth in COPD cases. Respiratory care devices actively help healthcare systems worldwide to meet the needs of patients with COPD and other respiratory disorders, leading to continuous market growth.

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Global Respiratory Care Device Market by Region

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa are all included in the regional market analysis. North America is expected to dominate the market because of its strong healthcare system, rising respiratory disorders, and increased use of advanced technologies. This leadership is supported by ongoing research and a proactive approach to utilizing better respiratory care solutions. In addition, the region offers strategic pro-employer reimbursement policies. However, the Asia Pacific region is likely to register noticeable growth in the forecast period. Rising awareness of respiratory health, high health costs, and population growth are major factors impacting the market value. The development of various healthcare facilities in emerging economies like India and China will boost the adoption of advanced respiratory care devices, creating new opportunities for regional expansion.

Leading Players in the Global Respiratory Care Device Market

The key features of the market report include patent analysis, funding and investment analysis, and strategic initiatives including recent partnerships, and collaborations between the leading players. The major companies in the market are as follows:

Koninklijke Philips N.V

The Eindhoven-based company started its journey in 1891. It is an innovative company in respiratory care devices and sleep apnea therapies. Their products and services include the number of ventilators including the V60 Plus ventilator, Trilogy EV 300 ventilator, etc.

Masimo Corporation

Founded in 1989 and based in California, U.S. This company offers different respiratory care devices and technologies for hospitals. Their products include pulse oximeters, pulse co-oximeters, and rainbow acoustic monitoring.

Teleflex Incorporated

It is American company established in 1943 and headquartered in Pennsylvania. It specializes in providing medical equipment for critical care and surgery procedures. The company focuses on researching, developing, manufacturing, and marketing disposable medical technology products.

Fisher & Paykel Healthcare Corporation Limited

Based in East Tamaki, Auckland, this company was established in 1934. The company offers various respiratory devices such as AirVO2, CPAP, etc.

Other companies in the market include Hamilton Medical AG, ICU Medical Inc., General Electric Company, ResMed Inc., Getinge AB, Aerin Medical Inc., and VitalAire Canada Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Key Questions Answered in the Global Respiratory Care Device Market Report

• What was the global respiratory care device market value in 2023?
• What is the global respiratory care device market forecast outlook for 2024-2032?
• What are the regional markets covered in the EMR report?
• What is the market segmentation based on products?
• What is the market segmentation based on disease indications?
• What are the end users in the market?
• What are the major factors aiding the global respiratory care device market demand? 
• What are the market's major drivers, opportunities, and restraints? 
• Which regional market is expected to lead the market share in the forecast period? 
• Which country is expected to experience expedited growth during the forecast period? 
• What are the major global respiratory care device market trends?
• How does the rise in the geriatric population impact the market size?
• Who are the key players involved in the respiratory care device market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?
• What are the leading types of positive airway pressure (PAP) devices in the respiratory care device market?
• How are pulse oximeters revolutionizing respiratory monitoring?
• What are the key features of peak flow meters and their importance in respiratory diagnosis?
• What are the primary drivers of demand for respiratory care devices in COPD management?
• What advancements are seen in respiratory devices for sleep apnea diagnosis and treatment?
• How are hospitals integrating respiratory care devices into patient care pathways?
• What factors are driving the demand for respiratory care devices in North America?
• What are the key growth opportunities for respiratory care devices in the Asia Pacific region?