In recent years, there has been a significant surge in the demand for therapeutic respiratory devices worldwide. These devices play a crucial role in improving the quality of life for individuals suffering from respiratory conditions such as chronic obstructive pulmonary disease (COPD), asthma, and cystic fibrosis. From inhalers to ventilators, the Therapeutic Respiratory Devices Market offers a wide range of solutions to help patients breathe easier and lead healthier lives.
Therapeutic respiratory devices offer a multitude of treatment options that cater to varying degrees of respiratory conditions. Inhalers, for instance, are compact devices that deliver medication directly to the lungs, providing quick relief for asthma and COPD patients. On the other hand, positive airway pressure (PAP) devices, such as continuous positive airway pressure (CPAP) machines, assist individuals with sleep apnea by keeping their airways open during sleep.
Secure Your Download: Explore the Projected to CAGR Expansion in the Therapeutic Respiratory Devices Market @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14374
In 2023, it is predicted that the Therapeutic Respiratory Devices Market will be worth US$ 50.6 billion. The market is anticipated to grow at a CAGR of 4.7% from 2023 to 2033, reaching US$ 80.2 billion by 2033.
The rapid advancements in technology have played a vital role in the evolution of therapeutic respiratory devices. Innovations like smart inhalers, which integrate sensors and mobile applications, provide real-time monitoring of medication usage and send alerts to patients for timely dosage. Additionally, portable oxygen concentrators have revolutionized the mobility of patients requiring oxygen therapy, allowing them to lead active lives.
Key Takeaways:
- Existence of modern healthcare facilities in the United States and Canada, the therapeutic respiratory devices market in North America gained over 36% market share in 2021.
- The Asia Pacific is predicted to expand the quickest throughout the forecast period, owing to factors such as increased asthma incidence in adults and children, as well as technology improvements.
- Additionally, the market expansion would be aided by rising healthcare awareness and improved healthcare infrastructure.
- The clinical trial of Tempol for the treatment of COVID-19 by Adams Respiratory Therapeutics Inc has surpassed enrollment expectations.
- COPD is estimated to affect 10% of adults aged 75 and older in the United States, according to the Journal of the Italian Society of Gerontology and Geriatrics.
- According to statistics issued by the Global Initiative for Asthma (GINA), an estimated 100 million people with asthma are expected to be diagnosed by 2025.
Get in touch with our analyst to resolve any doubts you may have @ https://www.futuremarketinsights.com/ask-question/rep-gb-14374
Competitive Landscape:
Carefusion Corporation, G.E. Healthcare, Chart industries, Philips Healthcare, Compumedics Ltd., Smiths Medical, Covidien PLC, Invacare, Fisher and Paykel, and Mindray are some of the major respiratory device companies.
Acquisitions and mergers, the launch of new products and services, partnerships and joint ventures, MoU agreements, V.C. and funding activities, R&D activities, and geographic expansion, among other noteworthy activities by key players in the therapeutic respiratory devices market, are among the key strategic developments in the competitive landscape.
- Acapella, a select blue vibratory PAP therapy device, was released by Smiths Medical in April 2021. It is a drug-free supplementary therapy for people with asthma, COPD, cystic fibrosis, and lung illness that aids in the evacuation of secretions.
- Koninklijke Philips N.V. finalized the acquisition of BioTelemetry, Inc., a firm located in the United States, in February 2021. This aided in the expansion of Philips’ product line, resulting in increased sales of therapeutic respiratory devices.
Key Segments:
By Product:
- Positive Airway Pressure (PAP) Devices
- Continuous Positive Airway Pressure (CPAP) Devices
- Auto-titrating Positive Airway Pressure (APAP) Devices
- Bi-level Positive Airway Pressure (BiPAP) Devices
- Oxygen Concentrator
- Fixed Oxygen Concentrators
- Portable Oxygen Concentrators
- Ventilators
- Adult Ventilators
- Neonatal Ventilators
- Inhalers
- Metered Dose Inhaler (MDI)
- Dry Powder Inhaler (DPI)
- Soft Mist Inhaler (SMI)
- Nebulizers
- Compressor-based Nebulizers
- Piston-based Hand-held Nebulizers
- Ultrasonic Nebulizers
- Humidifiers
- Heated Humidifiers
- Passover Humidifiers
- Integrated Humidifiers
- Built-in Humidifiers
- Standalone Humidifiers
- Others
Unleash Your Potential: Customize Your Report to Master the Therapeutic Respiratory Devices Market Landscape @ https://www.futuremarketinsights.com/customization-available/rep-gb-14374
By Application:
- COPD
- Obstructive Sleep Apnea
- Asthma
- Respiratory Distress Syndrome
- Cystic Fibrosis
- Others
By End-use:
- Hospital
- Homecare Settings
- Emergency Centers
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube