Therapeutic Respiratory Devices Market

Global Therapeutic Respiratory Devices Market is valued at USD 17.0 Billion in 2021 and is expected to reach USD 25.1 Billion by 2028 with a CAGR of 5.7% over the forecast period.

Global Therapeutic Respiratory Devices Market: Global Size, Trends, Competitive, and Historical & Forecast Analysis, 2022-2029: Growing prevalence of chronic ailments, rising research and development activities , and technological innovations in therapeutic respiratory devices are some of the major factors driving the growth of the Global Therapeutic Respiratory Devices Market.

Scope-

In respiratory therapeutics treatment, therapeutic respiratory devices are largely used to improve pulmonary functions by cleaning the airway, increasing lung oxygen intake capabilities, and helping to remove mucus from the bronchi. These respiratory devices are also used to help treat a variety of chronic illnesses linked to respiratory dysfunction. These conditions include ailments like asthma, bronchitis, chronic obstructive pulmonary disease (COPD), and other long-term disorders.

These devices are readily available in the market and come in a variety of designs with marginally different intended uses, such as long-term respiratory devices used primarily in critical care, mobile home respiratory devices used in homecare settings, and portable respiratory devices used in emergencies to provide point-of-care assistance. Due to their wide range of functions, these devices are also used to facilitate and improve newborns' respiratory health during postnatal care, particularly in cases of preterm delivery, postpartum difficulties, and related disorders.

COVID-19 Impact-

Therapeutic respiratory device sales were positively impacted by the global COVID-19 epidemic. When a number of regional and national governments initially issued stringent containment measures , procedures that were not absolutely necessary, such as routine patient-physician visits, elective surgery, and screenings, were canceled or delayed. However, connected care businesses saw a significant uptick in demand as a result of the unexpected increase in demand. This undoubtedly helped well-known market enterprises in several ways. For instance, a well-known company like Philips N.V. stated in its 2020 annual report that the pandemic affected every aspect of its business in the first half of 2020; however, the virtual care businesses, including the ventilator portfolio, had exceptional growth that was fueled by COVID-19-related demands, resulting in the company delivering 3% comparable sales growth with a strong cash flow of EUR 1.9 billion.

Key Players-

Major market players use strategies like mergers and acquisitions and the introduction of new products to increase their market share. For instance, CAIRE introduced the Lifestyle portable oxygen concentrator in the U.S. in June 2022 to drastically raise the standard of living for oxygen users nationwide.

The major players operating in this marketplace are -

•  GE Healthcare

• Fisher & Paykel Healthcare

• Koninklijke Philips N.V.

• ICU Medical (Smiths Medical)

• Invacare Corporation

• Chart Industries

• Medtronic

• ResMed

• Linde

• Mindray

• Drägerwerk AG & Co. KGaA

• DeVilbiss Healthcare

Market Segmentation-

By Product:

• Positive Airway Pressure (PAP) Devices

  • Continuous Positive Airway Pressure (CPAP) Devices
  • Auto-titrating Positive Airway Pressure (APAP) Devices
  • Bi-level Positive Airway Pressure (BiPAP) Devices

• Oxygen Concentrator

  • Fixed Oxygen Concentrators
  • Portable Oxygen Concentrators

• Ventilators

  • Adult Ventilators
  • Neonatal Ventilators

• Inhalers

  • Metered Dose Inhaler (MDI)
  • Dry Powder Inhaler (DPI)
  • Soft Mist Inhaler (SMI)

• 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 Technology:

• Electrostatic Filtration
• HEPA Filter Technology
• Hollow Fiber Filtration
• Microsphere Separation

By Filter:

• Nebulizer filters

  • Inlet filter
  • Replacement filter
  • Cabinet filter

• Humidifier filters

  • Wick filters
  • Permanent cleanable filters
  • Mineral absorption pads
  • Demineralization cartridges

• Positive airway pressure devices filter

  • Ultra-fine foam inlet filters
  • Polyester non-woven fiber filters
  • Acrylic & Polypropylene fiber filters

• Oxygen concentrator filters

  • HEPA Filter
  • Cabinet Filter
  • Pre-Inlet Filter
  • Inlet Filter
  • Micro Disk Filter
  • Felt Intake Filter
  • Bacterial Filter
  • Hollow-membrane Filter
• Ventilator filters

By End-user:

• Hospital
• Homecare Settings
• Emergency Centers

By Regional & Country Level:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

Market Drivers-

Growing Prevalence of Chronic Ailments is Expected to Boost Therapeutic Respiratory Devices Market Growth:

The growing patient base driven by the increasing prevalence of chronic diseases that disrupt breathing normally will be a major factor in the development of therapeutic respiratory devices. According to studies by the Forum of International Respiratory Societies (FIRS), there are around 100 million individuals who suffer from sleep-breathing difficulties, over 235 million people who have asthma, and 200 million people who have been diagnosed with COPD. The rising prevalence of respiratory diseases in both emerging and developed countries is due to factors including high levels of air pollution, exposure to numerous hazardous chemicals and gases, and chain smoking of tobacco which disrupts the airway route. These elements would support the expansion of this market for therapeutic respiratory devices in the coming years.

Rising Research and Development Activities  and Technological development in Therapeutic Respiratory Devices are Expected to Accelerate the Market Development:

A significant factor driving the market expansion for these devices is technological advancements in the field of therapeutic respiratory devices. The development of extremely effective, portable, lightweight, automated, and user-friendly medical devices has been made possible by extensive research and development efforts in therapeutic treatments, and this has led to an increase in the acceptability of these devices. Additionally, research is being conducted to create better, more intelligent technology.

The Z1 CPAP equipment, for instance, was released on the market by Human Design Medical (HDM) Corporation with features like lightweight, compact design, and intelligent technology to provide maximum mobility during emergency usage. 

Market Restraints-

An unfavorable reimbursement scenario is expected to Hinder Therapeutic Respiratory Devices Market Growth:

Many patients depend on reimbursements to cover the cost of care. The issue of inadequate reimbursements for various diagnostic tests is now a concern for the diagnostic industry as a whole and respiratory care diagnostics in particular.  In several European nations, only PAP devices and oral appliances are eligible for reimbursement programs (devices that are not covered by insurance have a low market share in the region). The majority of Asian nations also provide very little financial support for respiratory care devices. This factor may hinder the market in the coming year.

Geography Analysis-

North America is expected to Capture a Major Share of the Global Therapeutic Respiratory Devices Market:

North America had a dominant position with nearly 30.0% of the market in 2022, due to favorable outpatient treatment reimbursement, economic expansion aided by expanding insurance coverage, U.S. healthcare center accounts, developing healthcare expertise, and improved healthcare systems.

Asia Pacific Therapeutic Respiratory Devices Market Is Expected To Grow At A Considerable Pace Over The Forecast Period:

The Asia Pacific region's market for therapeutic respiratory devices is anticipated to grow rapidly as a result of both technological improvements and the increased incidence of diseases like asthma in both adults and children. Medical oxygen concentrators are in great demand in home healthcare settings and ambulatory surgery centers and hospitals. As a result, the market for therapeutic devices has been expanding significantly since the COVID-19 pandemic began. Further product launches by significant regional manufacturers are also projected to boost demand for respiratory devices. For instance, Max Ventilator introduced multifunctional, noninvasive ventilators that also treated oxygen in India in May 2022. The increased emphasis on the creation of innovative respiratory devices, is also expected to boost the market for therapeutic respiratory devices in the coming year.

News-

• In June 2021, GenWorks, a provider of healthcare solutions with 140 sites throughout India and a direct presence in 27 states, entered a contract with Vyaire Medical, a worldwide organization devoted to assisting breathing at all phases of life.
• In January 2020, Masimo Corporation acquired the Connected Care Business from NantHealth (US). Masimo will be able to help hospitals provide continuous care with the use of the connection, automation, and cutting-edge noninvasive monitoring technology.
• The next-generation Precision Flow Hi-VNI system by VAPOTHERM was introduced in February 2019 with the goal of reducing respiratory strain in patients who spontaneously breathe.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 17.0 Billion
Base year considered	2021
Forecast Period CAGR %:	5.7%
Market Size Expected in 2028:	USD 25.1 Billion
Tables, Charts & Figures:	175
Pages	300
Companies	GE Healthcare, Fisher & Paykel Healthcare, Koninklijke Philips N.V., ICU Medical (Smiths Medical), Invacare Corporation, Chart Industries, Medtronic, ResMed, Linde, Mindray, Drägerwerk AG & Co. KGaA, and DeVilbiss Healthcare
Segments Covered	By Product, By Application, By Technology, By Filter, By End-user
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa