Markoorsig

The respiratory devices market encompasses various types of devices including respiratory diagnostic devices, therapeutic devices, and breathing devices for long-term artificial respiration. It may also include breathing apparatus used for resuscitation in cases of asphyxia.

According to the market study, the global respiratory devices market was valued at USD 24.2 billion in 2022 and is projected to reach USD 33.6 billion by 2028, with a compound annual growth rate (CAGR) van 5.89% during the period from 2023 aan 2028.

Several factors contribute to the overall growth of the market. These include the increasing prevalence of respiratory disorders such as COPD, TB, asthma, and sleep apnea, as well as technological advancements that have expanded their applications in homecare settings. For instance, according to the World Health Organization, in October 2022, the top 30 countries with a high burden of TB accounted for 87% of new TB cases. The WHO South-East Asian Region reported the highest number of new TB cases, followed by the WHO African Region and the WHO Western Pacific Region. The rise in TB cases has led to increased demand for respiratory devices such as respirators, driving market growth. Daarbenewens, according to the Centers for Disease Control and Prevention, in December 2022, 8.0% of adults aged 18 and over had asthma, while 6.5% of children under the age of 18 were affected in 2021. The growing number of people with asthma creates a higher demand for inhalers, contributing to market growth.

Bowendien, advancements in technology, particularly in the field of artificial intelligence, have brought significant changes to the healthcare sector. Market players are investing in research and development to innovate respiratory devices. For example, in November 2022, Xplore Health Technologies introduced Airofit Pro, a first-of-its-kind respiratory muscle training device developed in collaboration with Airofit, Denemarke. Priced at USD 422.74 (Rs 34,990), this data-driven smart respiratory training system personalizes the user’s breathing training experience and strengthens their respiratory muscles. With such technological advancements, the respiratory devices market is expected to grow further during the forecast period. Driven by factors like the increasing prevalence of respiratory disorders, technological advancements, and expanding applications in homecare settings, the respiratory devices market is anticipated to witness growth. However, the high cost of devices may pose a restraint to the market’s expansion.

Marksegmentasie

The market is segmented based on various factors, including type and region.

Segmentation by Type
Diagnostic and Monitoring Devices – Spirometers, Sleep Test Devices, Peak Flow Meters, Pulse Oximeters, Capnographs, and Other Diagnostic and Monitoring Devices
Therapeutic Devices – CPAP Devices, BiPAP Devices, Humidifiers, Nebulizers, Oxygen Concentrators, Ventilators, Inhalers, and Other Therapeutic Devices
Disposables – Masks, Breathing Circuits, and Other Disposables

Segmentation by Region
North America – Verenigde State, Kanada, and Mexico
Europe – Verenigde Koninkryk, Duitsland, Frankryk, Italië, Spanje, and Rest of Europe
Asia-Pacific – Sjina, Japan, Indië, South Korea, Australië, and Rest of Asia-Pacific
Latin America – Brasilië, Argentinië, and Rest of Latin America
Middle East and Africa – Saoedi-Arabië, GCC, and Rest of Middle East and Africa

The Therapeutic Devices segment dominates the respiratory devices market, holding the largest share in this category. With a value of USD 15,103.76 miljoen in 2022, it is projected to grow at a CAGR of 4.50% gedurende die voorspellingsperiode. Among the various segments, Pulse Oximeters show significant growth potential. Pulse oximetry is a noninvasive method used to monitor oxygen saturation, and it plays a crucial role in managing conditions like chronic obstructive pulmonary disease (COPD) and other lung disorders. The increasing prevalence of respiratory diseases and the research and development efforts by market players are driving the growth of this segment.

For example, in July 2022, Raydiant Oximetry, Inc. initiated a study that aims to validate the accuracy of their non-invasive fetal pulse oximeter, called the Raydiant Oximetry Sensing System (Lumerah). By measuring fetal arterial oxygen saturation using safe transabdominal near-infrared spectroscopy, this device has the potential to contribute to improved maternal and fetal healthcare. Positive results from such clinical trials can lead to the development of new products and further drive the growth of the pulse oximeters segment.

Regulatory concerns and initiatives taken by market players also contribute to the growth of this segment. In November 2022, BioIntelliSense introduced a pulse oximetry sensor chipset and integrated processing technology that accurately measures blood oxygen levels across different skin pigmentations and during movement. This development addresses concerns raised by the United States Food and Drug Administration regarding racial disparity in fingertip devices. Such advancements in technology will likely support market growth in the coming years.

Furthermore, the North American region holds the highest market share in the respiratory devices market due to various factors. These include the increasing prevalence of respiratory disorders such as COPD, TB, asthma, and sleep apnea, as well as advancements in technology and the growing use of respiratory devices in homecare settings. In 2022, North America accounted for a significant share of USD 9,468.69 million and is expected to grow at a CAGR of 5.13% gedurende die voorspellingsperiode.

For instance, in the United States, the burden of respiratory diseases is substantial, with 4.6% of adults aged 18 and over having COPD, emphysema, or chronic bronchitis in 2021, according to the CDC. This high prevalence of respiratory diseases is a key driver of market growth in the region.

Bowendien, North America benefits from advanced research and development (R&D) facilities that foster the development of technologically advanced respiratory devices. The US government’s commitment to respiratory diseases research is evident from their allocated budget. In 2022, the United States planned to spend USD 150 million on R&D for respiratory diseases, including funding for COPD, asthma, tuberculosis, and sleep research. This substantial investment is expected to stimulate the development of innovative respiratory devices, further propelling market growth.

Daarbenewens, initiatives, product launches, and strategies by market players in India are contributing to the growth of the respiratory devices market. For example, Vivos Therapeutics has taken steps to register their devices for sleep disorders, snoring, and sleep apnea with Health Canada, aiming to improve the health of Canadians.

Considering these factors, such as the rising prevalence of respiratory diseases and the efforts of market players, North America is anticipated to maintain its dominance in the respiratory devices market.

Mededingende landskap

The respiratory devices market demonstrates a moderate level of consolidation, primarily attributable to the presence of a select number of companies with global and regional operations. The competitive landscape comprises the assessment of both international and local companies that possess market shares and enjoy strong recognition. Key players in this market include GE Healthcare, Koninklijke Philips N.V., Medtronic PLC, and ResMed Inc., among others.

Key Companies Profiled in this report include Asahi Kasei Corporation, Baxter International Inc., Draegerwerk AG & Company KGAA, Fisher & Paykel Healthcare Limited, GE Healthcare, Getinge AB, GSK plc, Invacare Corporation, Koninklijke Philips NV, Medtronic plc, ResMed Inc., Shenzhen Mindray Bio-medical Electronics Co., Bpk.

Recent Industry Developments

In July 2022, Smile Train, Inc., in collaboration with their longstanding partner Lifebox, introduced the Lifebox-Smile Train pulse oximeter. This initiative aims to expand the availability of pulse oximetry for anesthesia and critical care.

Similarly, Omron Healthcare made an announcement in July 2022 regarding their latest breakthrough in the field of oxygen therapy. They unveiled a portable oxygen concentrator, which operates on the principles of medical molecular sieve technology. This device ensures a constant and reliable supply of high-purity oxygen for medical purposes.

Key Questions Answered

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