Respiratory Devices And Equipment (Therapeutic) Market Set to Reach $32.93 Billion by 2029 with 9.3% Yearly Growth

What Is the Estimated Market Size and Growth Rate for the Respiratory Devices And Equipment (Therapeutic) Market?
The market size of therapeutic respiratory devices and equipment has seen significant growth in the past few years. The market size is predicted to increase from $21.07 billion in 2024 to $23.04 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.3%. This growth during the historic period can be credited to the rise in respiratory diseases, an aging population, advances in technology, and the management of respiratory diseases.

The market size for therapeutic respiratory devices and equipment is anticipated to witness robust growth in the forthcoming years, expanding to $32.93 billion in 2029, at a compound annual growth rate (CAGR) of 9.3%. This projected growth during the forecast period can be linked to the impact of chronic diseases, lifestyle habits, the rise of telehealth, technological advancements, and the management of Chronic Obstructive Pulmonary Disease (COPD). The forecast period is also expected to observe major trends including digital health, remote patient monitoring, the use of ventilators and life support systems, respiratory therapy, and the integration of telehealth.

What Are the Forces Behind the Rapid Growth of the Respiratory Devices And Equipment (Therapeutic) Market?
The escalating incidence of respiratory ailments such as chronic obstructive pulmonary disorder (COPD) and sleep apnea are maor factors fuelling the growth of the therapeutic respiratory devices and equipment market. The World Health Organization reports that out of the 4.9 million deaths resulting from tobacco usage, one million are due to chronic obstructive pulmonary diseases, primarily triggered by smoking. Additionally, 65 million people grapple with moderate to severe COPD. The organization has warned that by 2030, COPD is set to become the third highest cause of fatality worldwide, alongside other deadly respiratory conditions such as tuberculosis, COPD, and lung cancer, collectively responsible for one in five global deaths. In accordance with the National Health Interview Survey conducted by the Centers for Disease Control and Prevention (CDC), 9.0 million adults in the USA have been diagnosed with chronic bronchitis. Also, in the USA, it is believed that 22 million people are affected by sleep apnea, of which 80% of cases exhibiting moderate to severe obstructive sleep apnea remain undetected. Thus, the rising instances of COPD and sleep apnea, particularly among the elderly population, is propelling the growth of the therapeutic respiratory devices and equipment market.

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Who Are the Dominant Companies Influencing Respiratory Devices And Equipment (Therapeutic) Market Trends?
Major companies operating in the respiratory devices and equipment (therapeutic) market include Hamilton Medical AG, Koninklijke Philips N.V., Smiths Medical, GE Healthcare, Philips Healthcare, Chart Industries Inc., Invacare Corporation, Fisher & Paykel Healthcare Limited, ResMed Inc., Drägerwerk AG & Co. KGaA, Medtronic plc, Masimo Corporation, CareFusion Corporation, Getinge AB, Hill-Rom Holdings Inc., Becton, Dickinson and Company, Air Liquide S.A., Vyaire Medical Inc., Compumedics Limited, Covidien plc, Mindray Medical International Limited, Inogen Inc., Nihon Kohden Corporation, Siemens Healthcare GmbH, Teleflex Incorporated, Breas Medical AB, AirSep Corporation, Rotech Healthcare Inc., 3B Medical Inc.

How Is the Respiratory Devices And Equipment (Therapeutic) Market Evolving?
Businesses in the respiratory devices and equipment (therapeutic) market are increasingly implementing AI technology to design advanced devices for the treatment of conditions such as Asthma and COPD. The use of artificial intelligence is aiding in the creation of inhalers equipped with innovative sensors that can accurately monitor a patient's dosage intake. These low-power, robust sensors can detect and warn patients of any changes or irregularities in their breathing rates, making them suitable for both add-on and embedded inhalers. These smart inhalers can automatically register data and inform both physicians and patients about the individual's health status. Companies are also utilizing AI to create solutions like imaging systems and platforms that serve as voice biomarkers. As an example, in March 2022, US-based Respira Labs introduced an AI-powered wearable lung monitor named 'Sylvee', which uses acoustic resonance to evaluate lung functions and identify any inconsistencies.

What Are the Different Segmentations in the Respiratory Devices And Equipment (Therapeutic) Market?
The respiratory devices and equipment (therapeutic) market covered in this report is segmented -

1) By Product: Nebulizers, Humidifiers, Oxygen Concentrators, Positive Airway Pressure Devices, Ventilators, Capnographs, Gas Analyzers
2) By Technology: HEPA Filter, Electrostatic Filtration, Microsphere Separation, Hollow Fiber Filtration, Other Technologies
3) By End-User: Homecare settings, Hospitals

Subsegments:
1) By Nebulizers: Pneumatic Nebulizers, Ultrasonic Nebulizers, Mesh Nebulizers
2) By Humidifiers: Bubble Humidifiers, Passover Humidifiers, Evaporative Humidifiers, Hot-Wire Humidifiers
3) By Oxygen Concentrators: Portable Oxygen Concentrators, Stationary Oxygen Concentrators
4) By Positive Airway Pressure Devices: Continuous Positive Airway Pressure (CPAP), Auto-Adjusting Positive Airway Pressure (APAP), Bi-Level Positive Airway Pressure (BiPAP)
5) By Ventilators: Non-invasive Ventilators, Invasive Ventilators, Transport Ventilators, ICU Ventilators
6) By Capnographs: Mainstream Capnographs, Sidestream Capnographs
7) By Gas Analyzers: Oxygen Analyzers, Carbon Dioxide Analyzers, Nitrous Oxide Analyzers, Multi-Gas Analyzers

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Which Region Is at the Forefront of the Respiratory Devices And Equipment (Therapeutic) Market?
Asia-Pacific was the largest region in the respiratory devices and equipment (therapeutic) market in 2023. Western Europe was the second-largest region in the respiratory devices and equipment (therapeutic) market. The regions covered in the respiratory devices and equipment (therapeutic) 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 (Therapeutic) Global Market Report?

- Market Size Analysis: Analyze the Respiratory Devices And Equipment (Therapeutic) Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Respiratory Devices And Equipment (Therapeutic) 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) 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) Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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