Global_Respiratory_Device_Market 2022-2028

Global_Respiratory_Device_Market 2022-2028

Global Respiratory Device Market Size, Share & Trends Analysis Report by Diagnostic Devices (Spirometers, Sleep Test Devices, Peak Flow Meters, Pulse Oximeters, Capnographs, and Others), by Therapeutic Devices (CPAP Devices, BiPAP Devices, Humidifiers, Nebulizers, Oxygen Concentrators, Ventilators, Inhalers, and Others), and by Disposable Devices (Masks, Breathing Circuits, and Others) Forecast Period 2021-2028

The global respiratory device market is anticipated to grow at a significant CAGR of 11.2% during the forecast period. Major factors augmenting the respiratory device market is the high prevalence of COVID-19, sleep apnea, asthma and COPD patients globally. Changing lifestyle and increasing obesity is also one of the major factors for rising cases of respiratory diseases. Asthma and chronic obstructive pulmonary diseases (COPD) account for approximately 60% of the respiratory drugs and devices market. An aging population and major lifestyle changes have led to a rise in respiratory diseases. in addition, habits such as overeating, smoking, lack of exercise and other major lifestyle changes are causing respiratory diseases. Cases of the respiratory disorder are also on a rise in new-born. However, there are factors such as high prices of medical devices and the availability of alternate treatment of sleep apnea that serve as barriers to the market growth.

The respiratory devices are inhalation devices and equipment used to provide medication to the patient with respiratory ailments. Most of the devices use non-invasive form of therapy for treating a patients with respiratory diseases. Respiratory devices companies are concentrating on developing new and advance products such as smart inhalers and digital sensors. Companies are expanding their product portfolios and increasing their R&D budget in order to stay competitive in the market. Major respiratory devices include therapeutic devices such as masks, ventilators, humidifiers, positive airway pressure devices and other devices. Other respiratory devices include diagnostic and monitoring devices and consumables and accessories meters.

Impact of COVID-19 Pandemic on Global Respiratory DeviceMarket

The surge of COVID-19 had drastically increased the demand for respiratory devices as this virus directly attacks the respiratory organs. The increasing number of serious patients needs to given support of ventilator or BiPAP. Nebulizers are used to give steam asymptomatic patients as it removes the mucus from lungs and reliefs the patients. The demand for oxygen concentrators had dramatically increased during the second wave of COVID-19 as the shortage of oxygen cylinders is experienced throughout the globe. Oximeters are popularised from the beginning of COVID-19 and now people are keeping them as personalized medical equipment which is increasing its market demand. The market players are producing these devices in extended capacity still the demand is so high that they are not getting able to satisfy it.

Segmental Outlook

The global respiratory devicemarket is segmented based on diagnostic devices, therapeutic devices, and disposable devices. Based on the diagnostic devices, the market is segmented into spirometers, sleep test devices, peak flow meters, pulse oximeters, capnographs, and others. Based on the therapeutic devices, the market is segmented into CPAP devices, BiPAP devices, humidifiers, nebulizers, oxygen concentrators, ventilators, inhalers, and others. Based on the disposable devices, the market is segmented into masks, breathing circuits, and others.

Inhalers and Ventilators will Drive the Market Growth of Respiratory Devices

Inhalers hold the major share in therapeutic respiratory devices. The increasing prevalence of asthma with the rising pollution is the major driving factor for it. Additionally, the rising number of smokers and tobacco addicts will contribute to the increase of COPD cases globally which will also boost the growth of the inhalers segment. Metered-dose and dry-powder inhalers are the common varieties of inhalers.

Ventilators remain the life savior equipment not only for the patients with respiratory diseases but also for patients with other severe diseases including, brain tumor, cancer, and many more. The outbreak of COVID-19 had given a boost to the demand for ventilators which is expected to drive the market further during the forecast period.

Under the segment of diagnostic devices, sleep test devices are emerging in the market as lots of health-conscious people are now using them to monitor their body behavior while sleeping.

Regional Outlooks

The global respiratory devicemarket is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others, and the Rest of the World (the Middle East and Africa, and Latin America).

The Whole Globe is giving Considerable Growth to the Global Respiratory Devices Market

According to the World Health Organization, there were 251 million cases of COPD throughout the globe. The outbreak of COVID-19 had almost equally impacted the world. Hence the demand for respiratory devices was equally raised throughout the globe. However, due to technological advancement, North America is expected to contribute more to the respiratory devices market. If the COVID-19 pandemic was not there, still the prevalence of other respiratory diseases including asthma is giving considerable growth to the respiratory devices market.

Europe has reimbursement policies for PAP devices as they are not covered by insurance which attracts patients who rely on reimbursement for their treatment. Medical tourism is also driving the growth of the respiratory devices market, especially from India and China due to low infrastructure and insufficient physicians in the Asia Pacific region.

Market Players Outlook

The major companies serving the global respiratory device market include Duracell, Inc., Panasonic Corp., Electric Fuel, Inc., GPB International Ltd., RedFlow Ltd., EaglePicher Technologies LLC, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance,

Dragerwerk AG & Co. KGAA had launched Oxylog VE300 in 2017 which is a transportable ventilator and can be used outside the hospital. This had easied the shifting of serious patients from one hospital to another, without removing their ventilator support.

Philips had launched PHILIPS RESPIRONICS E30 VENTILATOR in April 2021. This had added a premium quality product to the company’s product portfolio.

Masimo Corp. had acquired NantHealth's connected care business in January 2021. This acquisition had enabled Masimo to provide consistent assistance to the hospitals with non-invasive monitoring technology.

The Report Covers

Market value data analysis of 2021 and forecast to 2028.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global respiratory device market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.