Respiratory Devices And Equipment (Diagnostic) Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers

How Will the Respiratory Devices And Equipment (Diagnostic) Market Grow, and What Is the Projected Market Size?
In recent times, there has been a significant expansion in the market size of respiratory devices and equipment (diagnostic). The market, which currently stands at $7.81 billion in 2024, is projected to increase to $8.41 billion in 2025, with a compound annual growth rate (CAGR) of 7.6%. This growth experienced during the historic period can be credited to factors such as rising cases of chronic respiratory diseases, an aging population, the prevalence of smoking and environmental influences, and technological advancements.

In the coming years, a significant expansion is anticipated in the market size of respiratory devices and equipment (diagnostic), reaching $12.37 billion by 2029 with a compound annual growth rate (CAGR) of 10.1%. The predicted growth during the forecast period can be linked to factors such as respiratory infections, the utilization of telemedicine and remote monitoring, personalized medicine, and the incorporation of AI and machine learning. The forecast period will be characterized by key trends like pulmonary function testing (PFT), home-based respiratory monitoring, the integration of telemedicine, and the promotion of smoking cessation aids.

What Key Elements Are Boosting Growth in the Respiratory Devices And Equipment (Diagnostic) Market?
The escalating incidence of numerous respiratory illnesses has spurred growth in the global respiratory devices and equipment market by augmenting the use of these diagnostic tools for diagnosing and treating such conditions. Afflictions like chronic obstructive pulmonary disease (COPD), which is more common among the elderly, are a type of obstructive lung malady that results in long-term breathing issues. For example, the Australian Institute of Health and Welfare reported in July 2024 that COPD was responsible for 29.6 deaths per 100,000 population or 7,691 deaths in total in 2022, amounting to 4.0% of all deaths. Hence, the mounting number of such instances has increased the demand for diagnostic devices and equipment. Subsequently, this is propelling the growth of the respiratory devices and equipment (diagnostic) market.

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Who Are the Major Industry Players Fueling Respiratory Devices And Equipment (Diagnostic) Market Expansion?
Major companies operating in the respiratory devices and equipment (diagnostic) market include ResMed Inc., Medtronic plc, Masimo Corporation, Fisher & Paykel Healthcare Limited, Koninklijke Philips N.V., Smiths Medical, GE Healthcare, Chart Industries Inc., Philips Healthcare, Becton Dickinson and Company (BD), Abbott Laboratories, Thermo Fisher Scientific Inc., Teleflex Incorporated, Invacare Corporation, Vyaire Medical Inc., Drägerwerk AG & Co. KGaA, Getinge AB, Dräger Medical GmbH, bioMérieux, Bio-Rad Laboratories Inc - Bio-Rad Laboratories Inc., Cosmed S.r.l., Seegene Inc., SDI Diagnostics, GlaxoSmithKline plc, Hillrom, Hamilton Medical AG, Medline Industries Inc., 3M Company, Air Liquide, Allied Healthcare Products Inc., Armstrong Medical, Bio-Med Devices Inc., Breas Medical AB, CAIRE Inc., DeVilbiss Healthcare, Nihon Kohden Corporation, O2 Concepts LLC

Which Key Developments Are Influencing the Respiratory Devices And Equipment (Diagnostic) Market?
Market companies are progressively making investments in wireless and portable diagnostic respiratory devices. This progression is fueled by factors such as their ease of use, cost-efficiency, advanced characteristics, and their appropriateness for home care institution utilization. Portable respiratory devices, equipped with groundbreaking technology, are being introduced into the market. Unlike their traditional counterparts, these new devices can instantly diagnose vital signs such as the respiratory and pulse rate of patient. For example, the National Center for Biotechnology Information reported in May 2024 that a US-based government agency launched a portable non-invasive device that delivers immediate results, marking it as a crucial tool for individuals with chronic respiratory conditions like COPD and asthma. It improves patient results by offering on-the-spot diagnostics, and also greatly boosts healthcare systems' efficacy.

How Is the Segmentation of the Respiratory Devices And Equipment (Diagnostic) Market Defined?
The respiratory devices and equipment (diagnostic) market covered in this report is segmented -

1) By Product: Instruments And Devices, Assays And Reagents
2) By Test Type: Traditional Diagnostic Tests, Mechanical Tests, Imaging Tests, Molecular Diagnostic Tests
3) By Disease Type: Chronic Obstructive Pulmonary Disease, Lung Cancer, Asthma, Tuberculosis, Other Diseases
4) By End User: Hospital/Clinical Laboratories, Physician Offices, Reference Laboratories, Other End Users

Subsegments:
1) By Instruments And Devices: Spirometers, Pulse Oximeters, Peak Flow Meters, Capnographs, Respiratory Pressure Monitors, Portable Ventilators
2) By Assays And Reagents: Diagnostic Kits, Reagents For Respiratory Infections, Blood Gas Analysis Reagents, PCR Assays For Respiratory Pathogens

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What Is the Leading Region in the Respiratory Devices And Equipment (Diagnostic) Market?
Asia-Pacific was the largest region in the respiratory devices and equipment (diagnostic) market in 2023. North America was the second largest region in the respiratory devices and equipment (diagnostic) market. The regions covered in the respiratory devices and equipment (diagnostic) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Is Covered In The Respiratory Devices And Equipment (Diagnostic) Global Market Report?

- Market Size Analysis: Analyze the Respiratory Devices And Equipment (Diagnostic) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Respiratory Devices And Equipment (Diagnostic) Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Respiratory Devices And Equipment (Diagnostic) Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Respiratory Devices And Equipment (Diagnostic) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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