The Respiratory Care Devices Market to grace digital transformation curve at a CAGR of 8.3%

The global respiratory care devices market is anticipated to increase from a valuation of US$ 18.5 Bn in 2022 to US$ 41 Bn by the end of 2032, expanding at a high-value CAGR of 8.3%.

Based on product, therapeutic devices account for the largest market share, while regional analysis reveals that North America accounts for over half of the global market share.

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Key players in the global respiratory care devices market are Philips Healthcare (Netherlands), Masimo Corporation (U.S.), Fisher and Paykel Healthcare Limited (New Zealand), ResMed, Inc. (U.S.), Covidien plc (Ireland), and CareFusion Corporation (U.S.).

The devices are used in chronic obstructive pulmonary diseases (COPD), a degenerative lung diseases which primarily includes chronic bronchitis, and emphysema. The market is witnessing decent growth as COPD is one of the leading causes of death globally. By 2020, COPD is expected to be the fifth leading cause of death globally.

Market Segmentation

Basis of products

diagnostic devices
spirometers
polysomnography devices for sleep studies
peak flow meters
therapeutic devices
humidifiers
positive airway pressure (PAP) devices
nebulizers
oxygen concentrators
inhalers
reusable resuscitators
ventilators
nitric oxide delivery units
masks
oxygen hoods
monitoring devices
pulse oximeters
gas analyzers
capnographs

Based on end users
hospitals
home care

Geographically
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Rest of the World

In product segment, respiratory therapeutic devices market accounted for largest share globally in 2014. Major driving factors for therapeutic devices market was increasing adoption to the various devices such as humidifiers, nebulizers, and oxygen concentrators due to increasing prevalence of respiratory diseases, and rising geriatric population.

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Hospitals respiratory care device market was major market as compared to home care due to financial capabilities of hospitals to purchase high cost devices is more. North America accounted the largest share of the market followed by Europe due to highly developed health care infrastructure, large pool of respiratory disease patients due to lifestyle such as smoking and tobacco habits, and availability of trained personnel to operate the advanced respiratory devices. However, Asia Pacific is expected to grow at the highest rate owing to increasing per capita income, and gradually developing health care infrastructure.

Major driving factors for the global respiratory care devices market are rise in number of chronic pulmonary obstructive diseased patients, and continuous surge in numbers due to changing life style and environment such as increasing pollution level and smokers, rising geriatric population, new launching of the product coupled with strong pipeline of the product. In addition to that rise in demand for home care respiratory devices.

According to Centers for Disease Control and Prevention (CDC), more than 16 million population in America were living with a diseases caused by smoking such as lung diseases, COPD, heart diseases, and cancer in 2014. Additionally, rising geriatric population is a major cause of driving the market.

According to World Health Organization (WHO), more than 2 billion population will be aged 60 and older by 2050. However, lack of awareness in developing region, and some of the harmful effects of respiratory devices on neonates can restraint the market growth. Additionally, excise tax on devices by some countries would expect to impact the market negatively.

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