Respiratory Care Devices Market: Trends, Opportunities and Competitive Analysis

Respiratory Care Devices Market: Trends, Opportunities and Competitive Analysis

Respiratory Care Device Market Trends and Forecast

The future of the global respiratory care device market looks good with opportunities in diagnostic and therapeutic services. The global respiratory care device market is expected to reach an estimated $122.6 billion by 2027 and is forecast to grow at a CAGR of 9.9% from 2022 to 2027. The major drivers for the growth of this market are the high prevalence of respiratory diseases as a result of the rapid growth in the global geriatric population, high prevalence of tobacco smoking, urbanization and growing levels of pollution, and changing lifestyle.

Emerging Trends in the Respiratory Care Device Market

Emerging trends, which have a direct impact on the dynamics of the industry, include rising demand for smart inhalers with embedded AI-technology and increasing presence in homecare respiratory settings due to the COVID-19 pandemic.

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Respiratory Care Device Market by Segment

In this market, hospitals are the largest end user segment, whereas therapeutic devices are the largest device segment.

The study includes trends and forecast for the global respiratory care device market by device, end user, and region, as follows:

Respiratory Care Device Market by Device [Value ($ Million) from 2016 to 2027]:

• Therapeutic Devices
• Monitoring Devices
• Diagnostic Devices
• Consumables and Accessories

Respiratory Care Device Market by End User [Value ($ Million) from 2016 to 2027]:

• Hospitals
• Home Healthcare

Respiratory Care Device Market by Region [Value ($ Million) from 2016 to 2027]:

• North America
• US
• Mexico
• Canada
• Europe
• United Kingdom
• Germany
• France
• Spain
• APAC
• China
• Japan
• India
• ROW
• Brazil

List of Respiratory Care Device Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, respiratory care device companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the respiratory care device companies profiled in this report include-

• Philips Healthcare
• ResMed
• Medtronic
• Masimo Corporation
• Fisher & Paykel Healthcare
• Drager AG
• Invacare Corporation
• Nihon Kohden
• Getinge AB
• Air Liquide

Respiratory Care Device Market Insights

• Lucintel forecasts that plastic packaging is expected to witness significant growth over the forecast period because plastic is lightweight and easy to handle and plastic packaging is made of low-density polyethylene which increasingly using to store non-sterile pharmaceutical liquids.
• Within global respiratory care device market, the largest segment by product type is projected to be bottles because bottles find increased application in solid and liquid oral medications; bottles also provide convenience, safety, and security for the medication. These are the major driving factors for growth in this segment over the forecast period.
• North America is expected to remain the largest region because it is a large pharmaceutical manufacturing base and the region is witnessing increasing technological advancements in respiratory care devices.
• APAC is expected to witness the highest growth rate over the forecast period due to increasing set up of respiratory care device manufacturing plants, tackling counterfeit pharmaceutical products, and its large population base.

Features of Global Respiratory Care Device Market

• Market Size Estimates: Global respiratory care device market size estimation in terms of value ($M) shipment.
• Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
• Segmentation Analysis: Global respiratory care device market size by various segments, such as device, end user, and regions in terms of value.
• Regional Analysis: Global respiratory care device market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different device, end use, and regions for global respiratory care device market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global respiratory care device market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the respiratory care device market size?

Answer: The global respiratory care device market is expected to reach an estimated $122.6 billion by 2027.

Q2. What is the growth forecast for respiratory care device market?

Answer: The respiratory care device market is expected to grow at a CAGR of ~9% from 2022 to 2027.

Q3. What are the major drivers influencing the growth of the respiratory care device market?

Answer: The major drivers for the growth of this market are the high prevalence of respiratory diseases as a result of the rapid growth in the global geriatric population, high prevalence of tobacco smoking, urbanization, growing levels of pollution, and changing lifestyle.

Q4. What are the major applications or end users for respiratory care devices?

Answer: Hospitals are the major end user segment for respiratory care devices.

Q5. What are the emerging trends in respiratory care device market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include rising demand for smart inhalers with embedded AI-technology and increasing presence in homecare respiratory settings due to the COVID-19 pandemic.

Q6. Who are the key respiratory care device companies?

Answer: Some of the key medical device companies are as follows:

• Philips Healthcare
• ResMed
• Medtronic
• Masimo Corporation
• Fisher & Paykel Healthcare
• Drager AG
• Invacare Corporation
• Nihon Kohde
• Getinge AB
• Air Liquide

Q7.Which respiratory care device product segment will be the largest in future?

Answer: Lucintel forecasts that the therapeutic device segment is expected to witness significant growth over the forecast period because inhalers are widely used in the treatment of major respiratory ailments and high incidence of asthma.

Q8: In respiratory care device market, which region is expected to be the largest in the next 5 years?

Answer: North America will remain the largest region, and Asia Pacific is expected to witness the highest growth over the next 5 years.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions

Q.1 What are some of the most promising, high-growth opportunities for the global respiratory care device market by device (therapeutic devices, monitoring devices, diagnostic devices, and consumables & accessories), end user (hospitals and home healthcare), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the global respiratory care device market?

Q.5 What are the business risks and threats to the global respiratory care device market?

Q.6 What are emerging trends in this global respiratory care device market t and the reasons behind them?

Q.7 What are some changing demands of customers in the global respiratory care device market?

Q.8 What are the new developments in the global respiratory care device market? Which companies are leading these developments?

Q.9 Who are the major players in the global respiratory care device market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in the global respiratory care device market, and how big of a threat do they pose for loss of market share via material or product substitution?

Q.11 What M&A activities did take place in the last five years in the global respiratory care device market?

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