Global Therapeutic Respiratory Devices Market

Global Therapeutic Respiratory Devices Market Size, Share, Growth Analysis, By Product(Nebulizer, Humidifiers), By Technology(Electrostatic Filtration, HEPA Filter Technology), By End Use(Hospital, Homecare Settings), By Application(COPD, Obstructive Sleep Apnea), By Filters(Nebulizer filters, Humidifier Filters) - Industry Forecast 2023-2030


Report ID: SQMIG35A2647 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 155 | Figures: 78

Global Therapeutic Respiratory Devices Market Insights

Global Therapeutic Respiratory Devices Market size was valued at USD 47 billion in 2021 and is poised to grow from USD 48.88 billion in 2022 to USD 64.5 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).

Therapeutic respiratory devices are intended to help patients in need of support for breathing, carbon dioxide removal and therapy to prevent abdominal wall muscles from atrophying due to lack of use. The factors fueling market expansion are surge in ageing population, increase in respiratory disease prevalence, and swift technology advancements. Additionally, the market is anticipated to rise as more people use therapeutic respiratory equipment such nebulizers, humidifiers, and oxygen concentrators. As these devices offer medical intervention in both acute and chronic patient care, respiratory therapeutic devices are more preferred by doctors and patients for the treatment of respiratory illnesses. The prevalence of smoking-related respiratory diseases is rising along with the number of smokers. The market share is therefore driven by rising rates of various respiratory disorders and technical improvements in therapeutic devices.

US Therapeutic Respiratory Devices Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Therapeutic Respiratory Devices Market Segmental Analysis

Global therapeutic respiratory device market is segmented on the basis of product, technology, end use, application, filter, and region. According to product it is categorized into nebulizer, humidifiers, oxygen concentrators, positive airway pressure devices, polysomnography devices, ambulatory PSG devices, clinical PSG devices, pulse oximeters, mechanical ventilators and spirometers. By end use, the market is segmented into hospital, homecare settings, and emergency centers. Based on application, the market is segmented into COPD, obstructive sleep apnea, asthma, and respiratory distress syndrome. On the basis of filter, the market is segmented into nebulizer filters, humidifier filters, positive airway pressure devices filter, oxygen concentrator filters, and ventilator filters. On the basis of technology, it is segmented into electrostatic filtration, HEPA filter technology, hollow fibre filtration and microsphere. The regional insights is based on North America, Europe, Asia-Pacific, Latin America, and MEA.

Therapeutic Respiratory Devices Market Analysis by Product

The positive airway pressure devices segment held the largest market share and register a revenue share of approximately 58% in 2021. It is also expected to maintain its market dominance during the forecast period because of the fastest growing rate. This might be ascribed to rising cases of obstructive sleep apnoea, which are driving this market's expansion. Other problems including craniofacial anomalies as well as lifestyle-related variables like obesity, drinking alcohol, smoking, and obesity are also responsible for market growth. The National library of medicine of U.S. reported that almost 26% of the population in U.S. suffers from Obstructive Sleep Apnoea (OSA).

Therapeutic Respiratory Devices Market Analysis by Technology

The HEPA filter technology accounted for the highest market share and registered a revenue share of approximately 30% in 2021. In several therapeutic respiratory devices, high efficiency particulate air filters are used for particle removal and retention. In accordance with CDC recommendations the treatment devices must have HEPA filtration technology for air filtration .The need for HEPA filter technology is influenced by a number of factors, including the prevalence of respiratory disorders and how they are spread. According to the Department of Energy (DOE) in the United States, HEPA filters eliminate 99.97% of all particles larger than 0.3 microns. The innovation and advancement in this segment are expected to positive result for the market growth. Washable HEPA filters and HEPA 4 technology, which features a filter with a Minimum Efficiency Reporting Value (MERV) grade, are examples of developments.

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Global Therapeutic Respiratory Devices Market Regional Insights

North America dominated the global market in 2021.This can be attributed to a sizable elderly population as well as the increased prevalence of chronic respiratory illnesses. Additionally, the major share of the North American market is due to the availability of reimbursement in the U.S. healthcare centres accounts, growing public awareness of healthcare issues, improved healthcare infrastructure, an increase in the number of outpatient surgeries, and economic growth that is aided by expanding insurance coverage. According to the United States Death Statistics, in 2021 respiratory disorders claimed the lives of 44,630 people. The market for therapeutic respiratory devices is also anticipated to grow in the next years as a result of rising healthcare costs and an increase in respiratory illnesses in the United States.

Asia Pacific region is expected to show a high growth rate during the forecast period. This can be attributed to the increasing prevalence of asthma in both adults and children. The Global Initiative for Asthma has estimated that by 2025, there will likely be an additional 100 million people suffering from asthma. Furthermore the growing need for home healthcare facilities is a significant market driver in this region. In addition, the increasing disposable incomes and changes in lifestyle are bringing about a considerable growth rate in this region throughout the projected period.

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Global Therapeutic Respiratory Devices Market Dynamics

Therapeutic Respiratory Devices Market Driver

  • The demand for therapeutic respiratory devices is driven by the increase in respiratory conditions such asthma and chronic obstructive pulmonary disease.
  • Furthermore, it is anticipated that the market for these therapeutic respiratory devices will grow quickly which can be attributed to factors, including the high rate of cigarette smoking, high pollution levels and increased susceptibility to airborne illnesses, and accidents that result in chest and nasal injuries that cause respiratory difficulties.
  • One of the significant driver of this market is the rising prevalence of sleep apnea. Additionally, it was estimated that 12 million Americans have obstructive sleep apnea, with a diagnosis rate of almost one in 22. Due to the rising cases of cardiovascular illnesses, hypertension, and obesity, it is anticipated that the prevalence of sleep apnea would continue to increase during the projected period. These factors are projected to fuel market expansion.

Therapeutic Respiratory Devices Market Restraint

  • Rising cost of therapeutic respiratory devices and lack of patient compliance will impede market growth during the forecast period.
  • Lack of knowledge leads to a substantial underdiagnosed and undertreated population as well as the negative consequences of specialised therapeutic respiratory equipment will limit the market growth.

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Global Therapeutic Respiratory Devices Market Competitive Landscape

The market is fragmented with presence of key players who employ various growth strategies including mergers and acquisitions, collaborations, product releases, and partnership with local players to maintain dominance. Some of the key players include BD, General Electric Company, Chart Industries, Koninklijke Philips N.V, Compumedics Limited, ICU Medical, Inc. and Invacare Corporation. Innovation and development of new products is the key strategies of these major players to increase the consumer base.

Therapeutic Respiratory Devices Market Key Player’s Company Profiles

  • Inogen, Inc.
  • GlaxoSmithKline plc
  • Novartis International AG
  • AstraZeneca plc
  • Boehringer Ingelheim GmbH
  • Philips Healthcare
  • ResMed Inc.
  • Medtronic plc
  • Smiths Medical
  • Masimo Corporation
  • Fisher & Paykel Healthcare Corporation Limited
  • Drägerwerk AG & Co. KGaA
  • Hamilton Medical AG
  • Vyaire Medical Inc.
  • Invacare Corporation
  • DeVilbiss Healthcare LLC
  • Drive DeVilbiss Healthcare
  • Chart Industries Inc.
  • Teleflex Incorporated
  • Koninklijke Philips N.V.

Therapeutic Respiratory Devices Market Recent Developments

  • In July 2022, Boehringer Ingelheim announced its collaboration with VisionHealth on the Kara app for providing therapy support for asthma and chronic obstructive pulmonary diseases patient. The Kata app is a digital platform, which is able to provide targeted inhalation support for chronic respiratory diseases patients.
  • In March 2022, ResMed purchased HB Healthcare Safety, a producer of home-based medical equipment for sleep and respiratory care devices.

Global Therapeutic Respiratory Devices Key Market Trends

  • In the therapeutic respiratory device market, intelligent ventilators, portable PAP machines, smart inhalers, and nebulizers are all growing in popularity and assisting in giving clinicians real-time monitoring and data transfer. The market for therapeutic respiratory devices is anticipated to grow quickly during the forecast period due to the high prevalence of respiratory illnesses in India, Brazil, China, and Japan.
  • Wireless monitoring technologies, which increase respiratory device effectiveness and facilitate automated remedial procedures are also currently in demand. Numerous breathing parameters can be enhanced as a result of such developments, which will significantly relieve patients' symptoms and boost sales of respiratory measurement equipment in the upcoming years.

Global Therapeutic Respiratory Devices Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Therapeutic Respiratory Devices Market Analysis, in terms of product type, the segment of positive airway pressure device is growing at a fast rate. This was caused by the increasing cases of obstructive sleep apnoea. In terms of technology, the HEPA segment held the larger share of the global therapeutic respiratory devices market. The high efficiency in removal of particles above a certain size is the factors for this segment growth. North American region accounted for the highest share due to increase elderly population in the region are who suffer from respiratory diseases.

Report Metric Details
Market size value in 2021 USD 47 billion
Market size value in 2030 USD 64.5 billion
Growth Rate 4%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Nebulizer, Humidifiers, Oxygen concentrators, Positive Airway Pressure Devices, Polysomnography Devices, Ambulatory PSG Devices, Clinical PSG Devices, Pulse Oximeters, Mechanical Ventilators, Spirometers
  • Technology
    • Electrostatic Filtration, HEPA Filter Technology, Hollow Fiber Filtration, Microsphere
  • End Use
    • Hospital, Homecare Settings, Emergency Centers
  • Application
    • COPD, Obstructive Sleep Apnea, Asthma, Respiratory Distress Syndrome
  • Filters
    • Nebulizer filters, Humidifier Filters, Positive Airway Pressure Devices Filter, Oxygen concentrator filters, Ventilator filters
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Inogen, Inc.
  • GlaxoSmithKline plc
  • Novartis International AG
  • AstraZeneca plc
  • Boehringer Ingelheim GmbH
  • Philips Healthcare
  • ResMed Inc.
  • Medtronic plc
  • Smiths Medical
  • Masimo Corporation
  • Fisher & Paykel Healthcare Corporation Limited
  • Drägerwerk AG & Co. KGaA
  • Hamilton Medical AG
  • Vyaire Medical Inc.
  • Invacare Corporation
  • DeVilbiss Healthcare LLC
  • Drive DeVilbiss Healthcare
  • Chart Industries Inc.
  • Teleflex Incorporated
  • Koninklijke Philips N.V.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Therapeutic Respiratory Devices Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Therapeutic Respiratory Devices Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Therapeutic Respiratory Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Therapeutic Respiratory Devices Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Therapeutic Respiratory Devices Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Therapeutic Respiratory Devices Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Therapeutic Respiratory Devices Market size was valued at USD 47 billion in 2021 and is poised to grow from USD 48.88 billion in 2022 to USD 64.5 billion by 2030, growing at a CAGR of 4% in the forecast period (2023-2030).

The market is fragmented with presence of key players who employ various growth strategies including mergers and acquisitions, collaborations, product releases, and partnership with local players to maintain dominance. Some of the key players include BD, General Electric Company, Chart Industries, Koninklijke Philips N.V, Compumedics Limited, ICU Medical, Inc. and Invacare Corporation. Innovation and development of new products is the key strategies of these major players to increase the consumer base. 'Inogen, Inc.', 'GlaxoSmithKline plc', 'Novartis International AG', 'AstraZeneca plc', 'Boehringer Ingelheim GmbH', 'Philips Healthcare', 'ResMed Inc.', 'Medtronic plc', 'Smiths Medical', 'Masimo Corporation', 'Fisher & Paykel Healthcare Corporation Limited', 'Drägerwerk AG & Co. KGaA', 'Hamilton Medical AG', 'Vyaire Medical Inc.', 'Invacare Corporation', 'DeVilbiss Healthcare LLC', 'Drive DeVilbiss Healthcare', 'Chart Industries Inc.', 'Teleflex Incorporated', 'Koninklijke Philips N.V.'

The demand for therapeutic respiratory devices is driven by the increase in respiratory conditions such asthma and chronic obstructive pulmonary disease.

In the therapeutic respiratory device market, intelligent ventilators, portable PAP machines, smart inhalers, and nebulizers are all growing in popularity and assisting in giving clinicians real-time monitoring and data transfer. The market for therapeutic respiratory devices is anticipated to grow quickly during the forecast period due to the high prevalence of respiratory illnesses in India, Brazil, China, and Japan.

North America dominated the global market in 2021.This can be attributed to a sizable elderly population as well as the increased prevalence of chronic respiratory illnesses. Additionally, the major share of the North American market is due to the availability of reimbursement in the U.S. healthcare centres accounts, growing public awareness of healthcare issues, improved healthcare infrastructure, an increase in the number of outpatient surgeries, and economic growth that is aided by expanding insurance coverage. According to the United States Death Statistics, in 2021 respiratory disorders claimed the lives of 44,630 people. The market for therapeutic respiratory devices is also anticipated to grow in the next years as a result of rising healthcare costs and an increase in respiratory illnesses in the United States.

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