Therapeutic Respiratory Devices Market to Reach USD 80.2 Billion by 2033, Growing at a 4.7% CAGR

Therapeutic Respiratory Devices Market

The global therapeutic respiratory devices market is projected to grow from USD 50.6 billion in 2023 to USD 80.2 billion by 2033, reflecting a compound annual growth rate (CAGR) of 4.7%. This growth is largely attributed to the rising prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), sleep apnea, and other chronic respiratory conditions that require long-term management with specialized devices.

As the global burden of respiratory diseases continues to rise, the demand for therapeutic respiratory devices, including oxygen concentrators, nebulizers, positive airway pressure (PAP) devices, and ventilators, is increasing. These devices are essential for managing conditions that impact breathing, improving patient quality of life, and reducing hospitalizations. The growing adoption of home healthcare solutions is also contributing to the demand for user-friendly and effective respiratory devices.

In addition, ongoing advancements in device technology, such as the development of portable, more efficient, and connected respiratory devices, are making treatment more accessible and effective. This trend is expected to drive further market growth, especially in emerging economies where healthcare access is expanding.

Key Takeaways:

• The therapeutic respiratory devices market is expected to grow from USD 50.6 billion in 2023 to USD 80.2 billion by 2033, at a CAGR of 4.7%.
• The rising prevalence of respiratory diseases, particularly COPD and sleep apnea, is driving demand for therapeutic devices.
• Advancements in technology, including portable and connected devices, are enhancing the effectiveness and accessibility of respiratory treatments.
• The increasing shift toward home healthcare solutions is contributing to the expansion of the therapeutic respiratory devices market.

Intense Competition in the Therapeutic Respiratory Devices Market

To maintain competitiveness in the therapeutic respiratory devices market, key players employ various growth strategies, such as mergers and acquisitions, collaborations, and product releases.

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Major players in the therapeutic respiratory devices market include:

• 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

Recent Developments in the Therapeutic Respiratory Devices Market:

• Koninklijke Philips N.V. released the Philips Respironics E30 ventilator in April 2020. As a result, the company is able to assist healthcare professionals by offering high-quality ventilators.
• Masimo purchased NantHealth’s Connected Care Business in January 2020. Through connectivity, automation, and breakthrough noninvasive monitoring technologies, Masimo assists hospitals in providing constant care.
• Koninklijke Philips N.V. and Masimo formed a cooperation in May 2020. This collaboration sought to integrate Masimo’s measurement technology into certain IntelliVue MX-Series multi-parameter monitors, allowing doctors to analyze ventilation status and cerebral oximetry more easily.
• ResMed purchased HB Healthcare Safety, a producer of home-based medical equipment for sleep and respiratory care devices, in March 2019.

Market Segments Covered in Therapeutic Respiratory Devices Industry

By Product:

• Positive Airway Pressure (PAP) Devices
  • Continuous Positive Airway Pressure Devices
  • Auto-titrating Positive Airway Pressure Devices
  • Bi-level Positive Airway Pressure Devices
• Oxygen Concentrator
  • Fixed Oxygen Concentrators
  • Portable Oxygen Concentrators
• Ventilators
  • Adult Ventilators
  • Neonatal Ventilators
• Inhalers
  • Metered Dose Inhaler
  • Dry Powder Inhaler
  • Soft Mist Inhaler
• 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

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Author By:

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.

About Future Market Insights (FMI)

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