The global respiratory devices market is poised for remarkable growth, driven by advancements in combination therapies for the treatment of Chronic Obstructive Pulmonary Disease (COPD) and asthma. Following the recent COVID-19 pandemic, the critical role of respiratory devices in mitigating the spread and severity of respiratory illnesses has become increasingly evident, positioning the market for substantial expansion. The market valuation is expected to reach an impressive USD 26,873.7 million by 2024.
Significant investments from both private and public healthcare sectors have advanced Medicare initiatives, enhancing the acceptance and adoption of respiratory devices across developed and developing regions. According to industry analysis, the respiratory devices market is projected to grow at a compound annual growth rate (CAGR) of 9.90% through 2034, indicating strong future prospects.
Manufacturers are focusing on creating respiratory devices that are not only effective but also affordable for the general population. Despite the emergence of alternative treatment methodologies, the market is expected to surpass USD 69,072.5 million by the end of 2034. Additionally, government initiatives and medical inclusion policies in underdeveloped and developing countries are significantly increasing access to respiratory devices, expanding the market reach.
The COVID-19 pandemic has underscored the importance of respiratory devices in both preventing and treating respiratory conditions. The pandemic highlighted their essential role in healthcare settings, further boosting their adoption and market growth.
Key Takeaways from the Respiratory Devices Market Study:
- The positive airway pressure device segment dominates the market with a share of 31.30% in 2024.
- Based on the end users, the hospital segment leads the respiratory device market with a share of 40.70% in 2024.
- The respiratory device market in Germany is anticipated to progress at a CAGR of 12.10% through 2034.
- The respiratory device market in France is estimated to rise at an 11.90% CAGR through 2034.
- The respiratory device market in India has the potential to increase at 11.40% CAGR through 2034.
- The Canadian respiratory device market is predicted to rise by 10.30% CAGR through 2034.
- The respiratory device market in Mexico is very likely to develop at a CAGR of 10.10% through 2034.
Competitive Landscape in the Respiratory Device Market:
The market is well-established, with numerous companies competing for international dominance.
- Hospitals, ambulatory surgical centers, clinics, and other healthcare facilities rely heavily on these companies for their respiratory needs.
- These companies are investing billions of dollars into developing effective and affordable product offerings for the general public.
- Some of the leading companies in the market include Massimo Corporation, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, ResMed Inc., Hamilton Medical AG, Medtronic plc, and Koninklijke Philips N.V.
Recent Developments from the Respiratory Devices Market:
- ResMed launched the AirCurve 11 series with bilevel-positive airway pressure devices in Feb 2024.
- BOB, a tool unlocking respiratory data from devices, was developed by researchers from the University of Canterbury in Aug 2023.
- Dräger was awarded Frost & Sullivan’s Company of the Year Award in global respiratory care in Feb 2024.
- University Medical Devices secured $1.6 million in seed funding to launch MicroWash, a nasal specimen collection device, in Feb 2024.
- Clario acquired AI-powered software company ArtiQ in Apr 2024 to enhance data quality and patient experience in respiratory clinical trials.
- SunMed acquired Avanos Medical’s respiratory health business for $110 million in June 2023.
- ResMed acquired Somnoware, a software maker specializing in sleep and respiratory diagnostics, in Jul 2023.
- AirPhysio launched respiratory devices in Chennai, India in Oct 2022, partnering with Medsmart and Apollo Group for the rollout.
Top Key Companies in the Respiratory Devices Market:
- Massimo Corporation
- Teleflex Incorporated
- Fisher & Paykel Healthcare Limited
- ResMed Inc.
- Hamilton Medical AG
- Medtronic plc.
- Koninklijke Philips N.V.
- Smith’s Medical
- General Electric Healthcare Limited
- Drägerwerk AG & Co. KGaA
- Inogen Inc.
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Key Segments of the Respiratory Devices Market:
Product Categories:
- Respiratory Consumables
- Respiratory Masks
- Nasal Cannulas
- Oxygen Tubing Sets
- Breathing Filters
- Nebulizers
- Compressed Jet Nebulizers
- Ultrasonic Nebulizers
- Oxygen Concentrators
- Home Oxygen Concentrators
- Portable Oxygen Concentrators
- Positive Airway Pressure (PAP) Devices
- Polysomnography Devices
- Ambulatory PSG Devices
- Clinical PSG Devices
- Pulse Oximeters
- Mechanical Ventilators
- Spirometers
End Users:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Long-Term Care Centers
- Others
Regions:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
About the Healthcare Division at Future Market Insights
The healthcare domain at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Million+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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