What is Global Therapeutic Respiratory Devices Market?
The Global Therapeutic Respiratory Devices Market is a vast and dynamic sector that encompasses a wide range of medical devices designed to assist in the treatment of respiratory diseases. These devices are used to provide therapeutic benefits to patients suffering from various respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), and sleep apnea, among others. The market is driven by the increasing prevalence of respiratory diseases worldwide, advancements in technology, and the growing geriatric population. The market's value stood at US$ 9147 million in 2023 and is projected to reach US$ 12490 million by 2030, growing at a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2024 to 2030.
Nebulizers, Humidifiers, Oxygen Concentrators, Ventilators, Positive Airway Pressure Devices, Others in the Global Therapeutic Respiratory Devices Market:
The Global Therapeutic Respiratory Devices Market is segmented into various types of devices including Nebulizers, Humidifiers, Oxygen Concentrators, Ventilators, Positive Airway Pressure Devices, among others. Nebulizers are devices that convert liquid medication into a mist, which can be inhaled directly into the lungs. Humidifiers are used to add moisture to the air, which can help to alleviate dryness and irritation in many parts of the body. Oxygen concentrators are devices that concentrate the oxygen from a gas supply by selectively removing nitrogen to supply an oxygen-enriched product gas stream. Ventilators are machines that provide mechanical ventilation by moving breathable air into and out of the lungs. Positive Airway Pressure Devices are used to treat sleep apnea and other breathing disorders. Each of these devices plays a crucial role in the treatment and management of various respiratory conditions.
Hospitals, Home Care, Others in the Global Therapeutic Respiratory Devices Market:
The usage of Global Therapeutic Respiratory Devices is widespread in various areas such as Hospitals, Home Care, and others. In hospitals, these devices are used in intensive care units, emergency rooms, and other departments to assist patients with respiratory issues. In home care settings, these devices are used by patients who require long-term therapy or support for chronic respiratory conditions. The use of these devices in home care settings has been increasing due to the growing preference for home healthcare and the rising incidence of chronic respiratory diseases. Other areas where these devices are used include rehabilitation centers, clinics, and ambulatory surgical centers.
Global Therapeutic Respiratory Devices Market Outlook:
Looking at the market outlook for the Global Therapeutic Respiratory Devices, it's clear that the sector is poised for significant growth. In 2023, the market was valued at US$ 9147 million and it's projected to reach a value of US$ 12490 million by 2030. This represents a compound annual growth rate (CAGR) of 4.5% during the forecast period from 2024 to 2030. The market is dominated by the top five manufacturers who collectively hold a market share of about 40%. In terms of product segmentation, Ventilators represent the largest segment, accounting for over 35% of the market share.
| Report Metric | Details |
| Report Name | Therapeutic Respiratory Devices Market |
| Accounted market size in 2023 | US$ 9147 million |
| Forecasted market size in 2030 | US$ 12490 million |
| CAGR | 4.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Philips Healthcare, ResMed, Getinge, Draeger, Hamilton Medical, Inogen, Mindray, Medtronic, PARI, Omron, CAIRE, Invacare, GE Healthcare, Air Liquide, DeVilbiss Healthcare |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
