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2025 Respiratory Devices And Equipment (Therapeutic) Industry Trends Report: Long-Term Outlook Through 2034
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.How Large Will the Respiratory Devices And Equipment (Therapeutic) Market Size By 2025?
In recent years, the market size of respiratory devices and equipment (therapeutic) has experienced significant growth. The market is predicted to escalate from $21.07 billion in 2024 to $23.04 billion in 2025, witnessing a compound annual growth rate (CAGR) of 9.3%. The growth witnessed in the historical period can be credited to the prevalence of respiratory conditions, an aging population, technological advancements, and management of respiratory diseases.
How Big Is the Respiratory Devices And Equipment (Therapeutic) Market Size Expected to Grow by 2029?
The market size for therapeutic respiratory devices and equipment is predicted to witness significant expansion in the coming years, with a growth forecast of $32.93 billion in 2029 at a compound annual growth rate (CAGR) of 9.3%. This robust growth during the forecast period is due to factors like chronic illnesses and lifestyle influences, expansion of telehealth, advancements in technology, and management of copd. Key trends during this period are expected to be digital health and remote monitoring, life support systems and ventilators, respiratory rehabilitation, and integration of telehealth.
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Which Key Market Drivers Powering Respiratory Devices And Equipment (Therapeutic) Market Expansion and Growth?
The therapeutic respiratory devices and equipment market is experiencing growth due to the increasing instances of respiratory ailments such as chronic obstructive pulmonary disorder (COPD) and sleep apnea. The World Health Organization states that among the nearly 5 million deaths caused by tobacco use per year, a million are due to COPD related to smoking, and 65 million people globally suffer from moderate to severe COPD. Based on these findings, it is anticipated that COPD will become the third leading cause of death worldwide, and fatal respiratory diseases like Tuberculosis, COPD, and lung cancer will cause nearly one-fifth of all deaths by 2030. The Centers for Disease Control and Prevention's National Health Interview Survey showed that 9.0 million adults were diagnosed with chronic bronchitis in the USA. It is also estimated that sleep apnea affects 22 million Americans, and 80% of moderate and severe obstructive sleep apnea cases remain undiagnosed. The escalating occurrence of COPD and sleep apnea, particularly within elderly populations, fuels the growth of the therapeutic respiratory devices and equipment market.
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Which Fast-Growing Trends Are Poised to Disrupt the Respiratory Devices And Equipment (Therapeutic) Market?
Firms in the therapeutic respiratory devices and equipment market are progressively utilizing AI to create respiratory devices for the treatment of Asthma and COPD. The application of artificial intelligence assists with the invention of sensor-fitted inhalers that enable patients to monitor their dosage consumption. The sensors are robust, power-efficient and are able to alert patients to any changes in their breathing patterns. They can be incorporated into both supplementary and embedded inhalers. These sensor-equipped inhalers can collect data automatically and give warnings to both doctors and patients regarding the patients' health status. Additionally, businesses are creating devices such as AI-assisted imaging systems and AI-assisted platforms that serve as voice biomarkers. For example, in March 2022, the US respiratory technology firm Respira Labs introduced 'Sylvee', an AI-powered wearable lung monitor. This new product employs acoustic resonance to evaluate lung function and identify any changes in it.
What Are the Emerging Segments 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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Who Are the Global Leaders in the Respiratory Devices And Equipment (Therapeutic) Market?
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.
Which are the Top Profitable Regional Markets for the Respiratory Devices And Equipment (Therapeutic) Industry?
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
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