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Respiratory Devices And Equipment (Therapeutic And Diagnostic) Global Market Size is Expected to Grow $58.85 Billion By 2028 | Key Players: Smiths Medical Inc., Philips Healthcare, GE Healthcare, Chart Industries Inc., Invacare Corporation
Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market
The Business Research Company's Respiratory Devices And Equipment (Therapeutic And Diagnostic) Global Market Report 2023 identifies the increasing demand for home-based care is expected to propel the growth of the respiratory devices and equipment (therapeutic and diagnostic) market going forward. Home-based care, also known as home healthcare or home care, refers to healthcare services and support provided to individuals in the comfort and familiarity of their own homes.
The respiratory devices and equipment (therapeutic and diagnostic) market size has grown rapidly in recent years. It will grow from $32.89 billion in 2023 to $37.17 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to respiratory conditions prevalence, aging population, pollution and environmental factors, telehealth and remote monitoring. The respiratory devices and equipment (therapeutic and diagnostic) market size is expected to see rapid growth in the next few years. It will grow to $58.85 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%.
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Major companies operating in the respiratory devices and equipment (therapeutic and diagnostic) market include Smiths Medical Inc., Philips Healthcare, GE Healthcare, Chart Industries Inc., Invacare Corporation, Fisher & Paykel Healthcare Limited, ResMed Inc., Koninklijke Philips N.V., Dragerwerk AG, Medtronic PLC, Masimo Corp., CareFusion Corporation, Compumedics Limited, Becton Dickinson and Company, Hamilton Medical, Mindray Medical International Limited, Vyaire Medical Inc., Getinge AB, AirSep Corporation, Breas Medical AB, Hill-Rom Holdings Inc., Inogen, Shenzhen Mindray Bio-Medical Electronics Co., Linde PLC, DeVilbiss Healthcare LLC, Nihon Kohden Corporation, Nonin Medical Inc., O2 Concepts LLC, Precision Medical Inc., Pulmodyne Inc., Salter Labs Inc., Sechrist Industries Inc., Teleflex Inc., Ventec Life Systems, VitalAire, Weinmann Emergency Medical Technology GmbH + Co. KG, ZOLL Medical Corporation
A longer duration of time taken in the approval process of the respiratory devices is restricting the respiratory devices and equipment market growth. Before a new respiratory device is introduced to the market, it takes 7.2 months for the FDA approval process, which adds to development costs to be borne by device manufacturers, thus acting as a restraint hindering the market growth.
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The Respiratory Devices And Equipment (Therapeutic And Diagnostic) market is segmented -
1) By Type: Diagnostic devices, Therapeutic devices, Monitoring devices
2) By Therapeutic Devices: Humidifiers, Nebulizers, Oxygen concentrators, Positive Airway Pressure (PAP) Devices, Ventilators, Other Therapeutic Devices
3) By Diagnostic Devices: Spirometer, Polysomnographs, Peak Flow Meters
4) By Monitoring Devices: Pulse oximeters, Capnographs, Gas analyzers
5) By Application: Chronic Obstructive Pulmonary Disease (COPD), Asthma, Obstructive Sleep Apnea (OSA), Respiratory Distress Syndrome (RDS), Cystic Fibrosis, Pneumonia
6) By End User: Hospitals, Clinics, Homecare settings, Ambulatory service centers
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) market.
The Business Research Company's "Global Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Include:
1. Executive Summary
2. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Characteristics
3. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Trends And Strategies
4. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market - Macro Economic Scenario
5. Global Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Size and Growth
……
31. Global Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Competitive Benchmarking
32. Global Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market
34. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Future Outlook and Potential Analysis
35. Appendix
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