Global Respiratory Care Devices Market to Reach USD 39,379.63 Million by 2031 | CAGR of 6.8%
Category : Medical Devices | Published Date : Nov 2024 | Type : Press Release
Respiratory Care Devices Market Scope & Overview:
In the newly published report, Consegic Business Intelligence states that the Respiratory Care Devices Market was valued at USD 23,556.54 million in 2023 and is projected to grow at a CAGR of 6.8%, reaching USD 39,379.63 million by 2031. Respiratory care devices are essential for diagnosing, monitoring, and treating respiratory conditions like asthma, chronic obstructive pulmonary disease (COPD), and sleep apnea. These devices include CPAP and BiPAP devices, ventilators, nebulizers, and pulse oximeters, catering to hospitals, homecare settings, and other healthcare facilities.
The report comprises the Respiratory Care Devices Market Share, Size & Industry Analysis, based on Product Type (CPAP and BiPAP devices, Ventilators, Nebulizers, Others), Application (Chronic Obstructive Pulmonary Disease, Asthma, Sleep Apnea, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Respiratory Care Devices Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Segmental Analysis:
Based on product type, the market is segmented into CPAP and BiPAP devices, Ventilators, Nebulizers, and Others.
- The CPAP and BiPAP devices segment accounted for the largest market share in 2023, driven by their widespread use in treating obstructive sleep apnea and respiratory conditions. Innovations like vortex airflow technology in CPAP devices are enhancing patient compliance and therapeutic outcomes.
- The nebulizers segment is projected to grow at the fastest CAGR over the forecast period, fueled by the adoption of smart-technology nebulizers, which ensure efficient medication delivery and improved patient outcomes.
Based on application, the market is categorized into Chronic Obstructive Pulmonary Disease, Asthma, Sleep Apnea, and Others.
- The chronic obstructive pulmonary disease (COPD) segment held the largest revenue share in 2023, supported by a high prevalence of COPD globally and advancements in inhalation therapy devices.
- The asthma segment is expected to grow at the fastest rate, driven by the introduction of portable oxygen concentrators and innovative rescue inhalers, ensuring timely interventions for asthma patients.
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- North America: Dominated the market in 2023 with a share of 39.85%, valued at USD 9,387.28 million, due to high prevalence rates of respiratory diseases, advanced healthcare infrastructure, and technological advancements.
- Asia-Pacific: Expected to grow at the highest CAGR of 7.4%, driven by rising pollution levels, increasing respiratory disease cases, and advancements in respiratory care technologies in countries like China, India, and Japan.
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 39,379.63 Million |
| CAGR (2024-2031) | 6.8% |
| Product Type | CPAP and BiPAP devices, Ventilators, Nebulizers, Others |
| Connectivity | Wi-Fi, Bluetooth, ZigBee, Cellular, Others |
| Application | Chronic Obstructive Pulmonary Disease, Asthma, Sleep Apnea, Others |
| By Region | North America (U.S., Canada, Mexico), Europe (Germany, UK, France, Spain, Italy, Russia, BENELUX, Rest of Europe), APAC (China, Japan, India, South Korea, Australia, ASEAN, Rest of APAC), LATAM (Brazil, Argentina, Chile, Rest of LATAM), MEA (GCC, Turkey, South Africa, Rest of MEA) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Respiratory Care Devices Industry:
- Koninklijke Philips N.V. (Netherlands)
- Medtronic (United States)
- ResMed (United States)
- Fisher & Paykel Healthcare Limited (New Zealand)
- GE HealthCare (United States)
- Hill-Rom Services PTE Ltd. (United States)
- Baxter (United States)
- Drägerwerk AG & Co. KGaA (Germany)
- Siemens Healthcare Private Limited (Germany)
- Medline Industries (United States)
Recent Industry Developments :
- 2024: Modivcare partnered with Tenovi to deliver Hailie® Smart Inhalers, enhancing medication adherence for chronic respiratory disease patients.
- 2024: Baxter launched the Vest APX system, advancing therapy for chronic lung conditions through its next-generation airway clearance system.
- 2024: Getinge introduced the Servo-c mechanical ventilator in India, offering personalized respiratory treatments with innovative monitoring features.
