The global therapeutic respiratory devices market is on track for significant expansion, driven by the rising prevalence of respiratory diseases worldwide. According to a recent market analysis report, the market is estimated to attain a market value of US$ 50.6 billion in the year 2023, and is expected to reach a staggering US$ 80.2 billion by 2033, reflecting a robust Compound Annual Growth Rate (CAGR) of 4.7%. This growth is fueled by the increasing demand for advanced respiratory solutions to address chronic obstructive pulmonary disease (COPD), sleep apnea, and other respiratory ailments.
“The escalating burden of respiratory diseases is a key driver propelling the therapeutic respiratory devices market,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.). “This has led to a surge in the need for effective devices like inhalers, nebulizers, ventilators, CPAP machines, and oxygen concentrators, used across various healthcare settings.”
Discover Our Expert Analysis with Our Sample Report! https://www.futuremarketinsights.com/reports/sample/rep-gb-14374
Factors Contributing to Market Growth:
- Rising Prevalence of Respiratory Diseases: Chronic obstructive pulmonary disease (COPD) and sleep apnea are just a few of the respiratory ailments driving the demand for therapeutic devices.
- Focus on Improved Healthcare Infrastructure: Governments and healthcare organizations worldwide are prioritizing improved healthcare infrastructure and access to medical facilities, further amplifying the need for these devices.
- Increased Investment in R&D: The COVID-19 pandemic underscored the critical role of respiratory support devices, leading to increased investments in research and development for more advanced and effective solutions.
This is intended to provide a general overview of the market research findings. For specific data and analysis, please refer to the complete market analysis report.
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.
Discover Heightened Awareness As You Explore Our Profound Methodology Insights: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-14374
Competitive Landscape:
- Aerin Medical
- BMC Medical Co., Ltd.
- CareFusion Corporation
- Covidien Plc
- Drägerwerk AG & Co. KGaA
- Fisher & Paykel Healthcare Limited
- GE Healthcare
- Hamilton Medical
- Invacare Corporation
- Koninklijke Philips N.V.
- Medtronic
- Nidek Medical Products, Inc.
- Teleflex Incorporated
- Smiths Medical
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.
Act Now to Explore In-Depth Market Analysis: Purchase Now to Access Industry Forecasts: https://www.futuremarketinsights.com/checkout/14374
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
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, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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