Therapeutic Respiratory Devices Market Size 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},

Therapeutic Respiratory Devices Market Size 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 Concentrators {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}), By Application (COPD, Obstructive Sleep Apnea, Asthma, Respiratory Distress Syndrome, Cystic Fibrosis), By End-use (Hospital, Homecare Settings, Emergency Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2030

The global therapeutic respiratory devices market is anticipated to register considerable growth through 2030. The industry expansion can be attributed to the rising elderly population which is prone to respiratory problems due to weakened immune systems. To that end, the instances of respiratory-related infections have also risen, leading to lung cancer, COPD, and asthma. The high rate of respiratory deaths is likely to drive product sales in the projected timeline. Also, the availability of advanced medical devices to minimize the severity of every person’s medical condition will foster market growth.

The high costs associated with the treatment of respiratory diseases may be a key factor hindering the industry expansion. As per a study, asthma results in approximately 500,000 deaths annually and over 1,300 deaths daily. Rising caseloads of respiratory diseases and increased intensity of illness have raised treatment costs. Eventually, it increases the burden on healthcare units due to direct and indirect expenses.

Based on product, the industry is segmented into positive airway pressure (PAP) devices, oxygen concentrators, ventilators, inhalers, humidifiers, and nebulizers. The ventilators segment registered over USD 4 billion in 2021, owing to technological advancements in product design and the surge in the geriatric population. Additionally, improved capabilities of ventilation technologies for lung injury prevention and fewer treatment times are likely to foster the growth of the segment.

On the basis of application, the industry is classified into COPD, asthma, obstructive sleep apnea, cystic fibrosis, and respiratory distress syndrome. The asthma segment held over 28% market share in 2021, owing to the introduction of advanced medications including inhalers and nebulizers. According to the data from the Asthma and Allergy Foundation of America, nearly 25 million people are susceptible to asthma in the U.S., which is equivalent to 1 in 13 people. Additionally, the average mortality from asthma is 11 in the U.S. daily. In 2020, 4,145 patients died of asthma, which increases the need for advanced asthma medications.

Based on end-use, the industry is categorized into hospitals, homecare settings, and emergency centers. The industry size from the homecare settings segment is flourishing at a considerable rate, owing to the adoption of improved treatment procedures that require minimal intervention from doctors. In addition, the increased psychological comfort and favorable environment facilitate the patient.

On the regional front, the industry is classified into North America, Europe, Asia Pacific, Latin America, and MEA. Latin America is expected to grow at over 4% CAGR, owing to the increased instances of respiratory problems in the region. Additionally, the adoption of the latest treatment modules for treating such ailments is likely to foster product sales in the region.