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Comprehensive Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Respiratory Devices And Equipment (Therapeutic And Diagnostic) Global Market Report 2025
The market for therapeutic and diagnostic respiratory devices and equipment has experienced swift expansion in recent times. The market, which is valued at $12.18 billion in 2024, is estimated to rise to $13.85 billion by 2025, manifesting a compound annual growth rate (CAGR) of 13.7%. This notable growth during the historic period is due to factors such as the widespread occurrence of respiratory conditions, an increasing aging population, pollution and environmental issues, along with the advent of telehealth and remote monitoring.
The market for respiratory devices and equipment, inclusive of therapeutic and diagnostic tools, is anticipated to witness accelerated expansion in the forthcoming years. It's projected to increase to $24.31 billion by 2029, with a compound annual growth rate (CAGR) of 15.1%. The growth during the forecast period is linked to factors like the adoption of minimally invasive procedures, expansion of emerging markets, enhanced regulatory support and reimbursement facilities, and the growth of personalized medicine. Key trends to note during this forecast period comprise home-based care, the use of wearable and remote monitoring, the integration of telemedicine, as well as sustainable and eco-friendly practices.
What Is Stimulating Growth in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market?
The escalation in conditions like Chronic Obstructive Pulmonary Disease (COPD), asthma, and lung cancer will be key drivers in the growth of the global therapeutic respiratory devices and equipment market. The increasing older population, tobacco use, allergens, and air pollution contribute to a higher frequency of respiratory diseases, thereby propelling the global market for therapeutic respiratory devices. As per the World Health Organization, tobacco consumption results in 4.9 million fatalities, including 1 million annual deaths from chronic obstructive pulmonary diseases, 1.7 million from cardiovascular and respiratory diseases, and 0.85 million from lung cancer. An Italian journal cites that in the U.S., an approximation of 10% of individuals aged 75 years or older suffer from COPD. Asthma UK reports that out of the 5.4 million people in the UK presently undergoing treatment for asthma, 1.1 million are children and 4.3 million are adults.
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Which Key Market Leaders Are Driving Respiratory Devices And Equipment (Therapeutic And Diagnostic) Industry Growth?
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
What Are the Emerging Trends in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Industry?
Firms in the market for respiratory devices and equipment are elevating their investment in superior mechanical ventilators for streamlined patient care. These advanced ventilators incorporate artificial intelligence to augment patient management by gathering, dissecting, unifying, and utilizing extensive data sources. They guarantee uniformity even when specialized staff are absent, enhance patient care, reduce clinical errors, and predict extended mechanical ventilation utilizing artificial intelligence methods. Key players providing these intelligent mechanical ventilators include Hamilton Medical AG, Koninklijke Philips N.V., among others.
What Are the Main Segments in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market?
The respiratory devices and equipment (therapeutic and diagnostic) market covered in this report is segmented -
1) By Type: Diagnostic devices, Therapeutic devices, Monitoring devices
2) By Application: Chronic Obstructive Pulmonary Disease (COPD), Asthma, Obstructive Sleep Apnea (OSA), Respiratory Distress Syndrome (RDS), Cystic Fibrosis, Pneumonia
3) By End User: Hospitals, Clinics, Homecare settings, Ambulatory service centers
Subsegments:
1) By Diagnostic Devices: Spirometers, Pulse Oximeters, Arterial Blood Gas (ABG) Analyzers, Capnometers, Peak Flow Meters
2) By Therapeutic Devices: Nebulizers, Inhalers (Metered-Dose Inhalers, Dry Powder Inhalers), Positive Airway Pressure (PAP) Devices, Oxygen Concentrators, Ventilators
3) By Monitoring Devices: Respiratory Rate Monitors, Blood Oxygen Saturation Monitors, Capnography Monitors, Pulmonary Function Monitors
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Which Geographic Area Leads the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market?
Asia-Pacific was the largest region in respiratory devices and equipment (therapeutic and diagnostic) market in 2023. Western Europe was the second-largest region in respiratory devices and equipment (therapeutic and diagnostic) market. The regions covered in the respiratory devices and equipment (therapeutic and diagnostic) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is Covered In The Respiratory Devices And Equipment (Therapeutic And Diagnostic) Global Market Report?
- Market Size Analysis: Analyze the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Respiratory Devices And Equipment (Therapeutic And 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 (Therapeutic And 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 (Therapeutic And Diagnostic) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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