Respiratory Devices Market Forecasts to 2030 - Global Analysis By Product Type, Disease/Disorder, End User and By Geography

According to Stratistics MRC, the Global Respiratory Devices Market is accounted for $22.7 billion in 2024 and is expected to reach $40.9 billion by 2030, growing at a CAGR of 10.3% during the forecast period. Respiratory devices are medical instruments used to assist or support breathing in patients with respiratory conditions. These devices provide mechanical ventilation for patients who cannot breathe independently, and oxygen therapy equipment, which delivers supplemental oxygen. Respiratory devices are critical in both acute and chronic settings, enhancing respiratory function, ensuring adequate oxygenation, and improving patient outcomes.

According to the WHO, in 2019, about 262 million people were suffering and 0.5 million people died from asthma.

Market Dynamics:

Driver:

Rising prevalence of chronic obstructive pulmonary disease (COPD)

COPD, a leading cause of morbidity and mortality worldwide, increases the demand for various respiratory devices such as ventilators, oxygen concentrators, and nebulizers. As more individuals are diagnosed with COPD, the need for effective management and treatment options grows. Respiratory devices are essential in providing symptomatic relief, improving lung function, and enhancing the quality of life for COPD patients. Additionally, increased awareness and early diagnosis of COPD further drive the adoption of these devices, boosting market growth.

Restraint:

Risk of side effects and complications

The risk of side effects and complications in respiratory devices, such as infections, airway irritation, or device-related injuries, stems from improper use, device malfunctions, or lack of proper maintenance. These risks can lead to adverse patient outcomes and diminished effectiveness of treatment. Additionally, regulatory scrutiny and the need for extensive clinical trials to address these risks can slow down the introduction of new devices, further hampering market expansion.

Opportunity:

Expansion and improvement of healthcare facilities

As hospitals and clinics upgrade their infrastructure, they are more likely to invest in state-of-the-art respiratory devices to enhance patient care. Improved healthcare facilities also lead to better diagnosis and treatment of respiratory conditions, driving demand for devices like ventilators, oxygen therapy equipment, and monitoring systems. Additionally, expanding healthcare services in emerging markets brings respiratory devices to previously underserved populations; further boosting market growth and ensuring better respiratory health management globally.

Threat:

High treatment costs

High treatment costs for respiratory devices arise from the advanced technology, manufacturing complexities, and ongoing maintenance associated with these devices. Expensive components and research & development investments contribute to elevated prices. Consequently, this financial barrier hampers market growth by restricting the potential customer base and slowing down the penetration of new technologies into underserved areas. Limited affordability also impacts overall market expansion and equitable healthcare access.

Covid-19 Impact

The covid-19 pandemic significantly impacted the respiratory devices market, driving unprecedented demand for ventilators, oxygen therapy devices, and other respiratory support equipment. The surge in covid-19 cases overwhelmed healthcare systems globally, leading to shortages and increased production of these devices. Manufacturers rapidly scaled up production to meet the urgent need. Additionally, the pandemic raised awareness of respiratory health, potentially leading to sustained demand for respiratory devices even post-pandemic, as healthcare systems prepare for future respiratory crises and individuals prioritize respiratory wellness.

The monitoring devices segment is expected to be the largest during the forecast period

The monitoring devices segment is estimated to have a lucrative growth. Respiratory monitoring devices are crucial for assessing and managing respiratory health. They include pulse oximeters, capnographs, and spirometers. These devices provide real-time data, enabling timely interventions and personalized treatment plans. With advancements in technology, portable and user-friendly monitoring devices are becoming increasingly accessible, enhancing patient care and outcomes.

The asthma segment is expected to have the highest CAGR during the forecast period

The asthma segment is anticipated to witness the highest CAGR growth during the forecast period. Respiratory devices for asthma are essential in managing and alleviating symptoms of this chronic respiratory condition. These devices improve medication adherence, offer precise dosage, enhance symptom management, and enable timely intervention during asthma attacks. By facilitating better control of asthma symptoms, these devices contribute to improved quality of life, reduced frequency of exacerbations, and minimized reliance on emergency care.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to increasing prevalence of respiratory diseases, rising pollution levels, and a growing aging population. Countries like China and India are significant contributors, driven by large patient populations and expanding healthcare infrastructure. Technological advancements and government initiatives to improve healthcare access further boost market growth. The COVID-19 pandemic has also heightened demand for respiratory support devices in the region. As awareness of respiratory health increases, the market is expected to see sustained expansion in the coming years.

Region with highest CAGR:

North America respiratory devices market is well-established and driven by high prevalence of respiratory conditions such as COPD and asthma. Advanced healthcare infrastructure, significant healthcare spending, and widespread adoption of cutting-edge technologies contribute to market growth. Increasing awareness about respiratory health, coupled with a growing elderly population, bolsters market expansion. The U.S. dominates the market due to extensive research and development activities, favourable reimbursement policies, and strong presence of major medical device manufacturers.

Key players in the market

Some of the key players profiled in the Respiratory Devices Market include Inogen, Inc., ResMed Inc., Medtronic plc, Fisher & Paykel Healthcare Corporation Limited, Dragerwerk AG & Co. KGaA, GE Healthcare, Masimo Corporation, Koninklijke Philips N.V., Invacare Corporation, Air Liquide Medical Systems, Hamilton Medical AG, Vyaire Medical, Inc., Getinge AB, Nihon Kohden Corporation, Smiths Medical, DeVilbiss Healthcare LLC, Asahi Kasei Corporation and Teleflex Incorporated.

Key Developments:

In August 2023, GE Healthcare launched new wireless patient monitoring device, the CARESCAPE(TM) Remote Monitoring (RM) system. This advanced device is designed to enhance patient care by providing continuous, real-time monitoring of patients' vital signs without the need for wired connections.

In April 2021, Smiths Medical launched the Acapella choice blue vibratory positive expiratory pressure (PEP) therapy system. Acapella is designed to aid in the removal of secretions for patients who have cystic fibrosis, chronic obstructive pulmonary disease (COPD), asthma, lung disease with secretory problems, and patients with atelectasis.

Product Types Covered:

• Therapeutic Devices
• Monitoring Devices
• Diagnostic Devices
• Consumables & Accessories

Disease/Disorders Covered:

• Acute Respiratory Failure
• Chronic Obstructive Pulmonary Disease (COPD)
• Asthma
• Sleep Apnea
• Cystic Fibrosis
• Neonatal Respiratory Distress Syndrome
• Other Respiratory Disorders

End Users Covered:

• Hospitals
• Homecare Settings
• Ambulatory Surgical Centers (ASCs)
• Specialty Clinics
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances