Therapeutic Respiratory Devices Market Size, Share & Trends Analysis Report By Product Type (Nebulizer, Humidifiers, Oxygen concentrators), By Technology, By Filters, By Region, And Segment Forecasts, 2022 - 2030

Therapeutic Respiratory Devices Market Growth & Trends

The global therapeutic respiratory devices market size is anticipated to reach USD 16.1 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.8% from 2022 to 2030. A growing geriatric population base, rapid technological advancements, and increasing prevalence of respiratory diseases are the key factors that are driving the market. The market is expected to grow due to rapid technological advancements in the healthcare sector. Nowadays, respiratory monitoring devices use software applications for the collection and analysis of data from ventilators equipped with the health system.

The tools in the software application improve patient monitoring through the measurement of parameters such as process and clinical variation in the ventilator therapy. The global increase in the cases of respiratory diseases is one of the major factors that are driving the market for therapeutic respiratory devices. According to the European Academy of Allergy and Clinical Immunology (EAACI) Global Atlas of Asthma 2021, more than 350 million patients around the world are suffering from asthma.

Moreover, waveform capnography is a technical advancement used in monitoring carbon dioxide levels. New product launch such as automated and stand-alone pressure controls for mechanical ventilators boosts the growth of the market. These pressure controllers enable a reduction in the risk of tracheal injuries and Ventilator-associated Pneumonia (VAP). For instance, in November 2021, Fischer and Paykel launched F&P Visairo, a hospital under-nose mask for noninvasive ventilation, in the United States. F&P Visairo is a new high-performance under-nose hospital mask with dynamic support technology. The company also offers a humidifier with an integrated flow generator, which delivers high flows of air mixture to patients spontaneously breathing. Such factors are bolstering the growth of the market.

Therapeutic Respiratory Devices Market Report Highlights

• The positive airway pressure devices segment accounted for the largest revenue share in 2021 owing to technological innovations resulting in increased portability and shelf life
• The HEPA filter technology segment accounted for the largest revenue share in 2021, because of the increasing prevalence of respiratory diseases coupled with technological advancements in this segment
• The humidifiers segment is anticipated to be the fastest-growing segment over the forecast period owing to the rising demand for humidifiers in hospitals, schools, home, and healthcare entities, and the increased prevalence of airborne infections such as tuberculosis
• In North America, the market is expected to maintain its dominant position over the forecast period owing to the rising geriatric population base and increasing prevalence of chronic respiratory diseases