Respiratory Filters Market Size, Share & Trends Analysis Report By Product (Nebulizer Filters, Humidifier Filters, Ventilator Filters), By End-use (Hospitals, Outpatient Facilities, Home Care), By Region, And Segment Forecasts, 2023 - 2030
Respiratory Filters Market Growth & Trends
The global respiratory filters market size is expected to reach USD 802.4 million by 2030, registering a CAGR of 5.5% from 2023 to 2030, according to a new study by Grand View Research, Inc. Growth in the market is driven by the increasing prevalence of chronic respiratory diseases, strategic initiatives by organizations, technological advancements, and the cost-effectiveness of the devices. Moreover, the increased awareness about respiratory health and the importance of preparedness for future respiratory emergencies have highlighted the need for improved respiratory support infrastructure. As a result, governments and healthcare institutions may invest in upgrading and expanding their respiratory device capabilities, thus holding potential growth for the market.
According to the CDC, the incidence of Tuberculosis (TB) (cases per 100,000 population) among Americans increased from 0.71 in 2020 to 0.79 in 2021, while it grew from 11.71 in 2020 to 12.16 in 2021 among non-Americans. Growing number of patients with TB further increases the demand for respiratory care devices used in TB therapy. For instance, during and after TB treatment, respirators, nebulizers, polysomnography devices, BiPAP devices, etc., are frequently utilized, which, in turn, is boosting the demand for respiratory care devices, including respiratory filters. The COVID-19 pandemic has been advantageous for the overall market, and it has had a positive impact on its growth. The demand for some key products, such as ventilators, Continuous Positive Airway Pressure (CPAP) machines, and oxygen concentrators increased by 4-5 times, thereby driving market growth. While the pandemic drove the initial surge in demand, the long-term market outlook for respiratory filters remains positive.
Respiratory Filters Market Report Highlights
The overall market growth is attributed to the increasing prevalence of respiratory diseases, such as asthma and COPD, and the rising global geriatric population
The positive airway pressure device filters segment accounted for the largest revenue share of 23.9% in 2022. The growing patient pool suffering from obstructive sleep apnea is expected to drive the demand for PAP devices
The hospitals end-use segment dominated the market with a revenue share of 33.93% in 2022 and is expected to continue its dominance with the fastest CAGR of 5.9% over the forecast period
North America dominated the market and accounted for the largest share of 37.2% in 2022 due to the continuous product launches and availability of the latest technologies
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Chapter 1. Methodology and Scope
1.1. Information Procurement
1.2. Information Or Data Analysis
1.3. Market Scope & Segment Definition
1.4. Market Model
1.4.1. Market Study, By Company Market Share
1.4.2. Regional Analysis
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing prevalence of respiratory diseases
3.2.1.2. Growing global geriatric population
3.2.1.3. Supportive initiatives by government and private organizations
3.2.2. Market Restraint Analysis
3.2.2.1. Product recall & failure
3.3. Industry Analysis Tools
3.3.1. Porter’s Five Forces Analysis
3.3.2. PESTEL Analysis
3.3.3. COVID-19 Impact Analysis
Chapter 4. Product Business Analysis
4.1. Respiratory Filters Market: Product Movement Analysis