What is Global Respiratory Devices Market?
The Global Respiratory Devices Market is a vast and dynamic sector that encompasses a wide range of medical devices used for respiratory care. These devices are designed to improve respiratory function, manage chronic respiratory conditions, and provide emergency care in critical situations. The market includes devices such as inhalers, nebulizers, oxygen concentrators, positive airway pressure devices, ventilators, and others. The global market for these devices is driven by several factors, including the rising prevalence of respiratory diseases, growing geriatric population, and technological advancements in the field of respiratory care devices. However, the market also faces challenges such as high cost of devices and lack of awareness about respiratory diseases in developing countries. Despite these challenges, the market continues to grow, driven by the increasing demand for respiratory devices in healthcare settings around the world.
Invasive, Non-invasive in the Global Respiratory Devices Market:
The Global Respiratory Devices Market can be segmented based on the type of device into invasive and non-invasive devices. Invasive respiratory devices, such as ventilators, are used in critical care situations where the patient's respiratory function is severely compromised. These devices provide mechanical ventilation to support or replace spontaneous breathing. On the other hand, non-invasive respiratory devices, such as inhalers and nebulizers, are used to deliver medication directly to the lungs to manage chronic respiratory conditions like asthma and COPD. These devices are typically used in home care settings, allowing patients to manage their condition independently. The demand for both invasive and non-invasive respiratory devices is growing, driven by the increasing prevalence of respiratory diseases and the need for effective treatment options. However, the market for non-invasive devices is expected to grow at a faster rate, driven by the increasing preference for non-invasive treatment options and the growing trend of home healthcare.
Hospitals/Clinics, Household, Other (In Army, Outer Space, etc.) in the Global Respiratory Devices Market:
The Global Respiratory Devices Market finds its application in various areas including hospitals/clinics, households, and others such as the army and outer space. In hospitals and clinics, respiratory devices are used in critical care units, emergency rooms, and other departments to provide respiratory support to patients with severe respiratory conditions. In households, these devices are used by patients to manage chronic respiratory conditions independently. The use of respiratory devices in other areas such as the army and outer space is relatively limited, but these devices play a crucial role in providing emergency respiratory care in these settings. The demand for respiratory devices in all these areas is expected to grow, driven by the increasing prevalence of respiratory diseases and the need for effective treatment options.
Global Respiratory Devices Market Outlook:
The Global Respiratory Devices Market, which was valued at US$ 5594.4 million in 2022, is projected to reach a value of US$ 7436.4 million by 2029. This represents a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2023 to 2029. The market is dominated by three major players - Resmed, Philips Healthcare, and Medtronic, who collectively hold about 58% of the market shares. The United States plays a significant role in both the production and consumption of respiratory devices, accounting for more than 40% of the market share. This dominance can be attributed to the advanced healthcare infrastructure, high awareness about respiratory diseases, and the presence of major market players in the country.
| Report Metric | Details |
| Report Name | Respiratory Devices Market |
| Accounted market size in 2023 | US$ 5843.3 million |
| Forecasted market size in 2029 | US$ 7436.4 million |
| CAGR | 4.1 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Segment by Region |
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| By Company | Resmed, Philips Healthcare, Medtronic, Carefusion, GE Healthcare, Teijin Pharma, Drager Medical, Fisher & Paykel, MEKICS, Weinmann, Air Liquide, Maquet, SLE Ltd, Hamilton Medical, eVent Medical, DeVilbiss, Apex Medical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
