Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Landscape 2025: Forecast Data and Growth Strategy Insights

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What Is the Expected CAGR for the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Through 2025?
The market size of respiratory devices and equipment, which includes both therapeutic and diagnostic, has seen a brisk expansion in the recent past. The market value, which is set to rise from $12.18 billion in 2024 to $13.85 billion in 2025, is projected to experience a compound annual growth rate (CAGR) of 13.7%. This growth trajectory during the historical period has been driven by the rise in respiratory disorders, an increase in the elderly populace, environmental pollutants, and the adoption of telehealth and remote monitoring.

What's the Projected Size of the Global Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market by 2029?
The market for respiratory devices and equipment, both therapeutic and diagnostic, is projected to experience significant expansion in the coming years. The market value is estimated to reach $24.31 billion by 2029, with a compounded annual growth rate (CAGR) of 15.1%. Factors contributing to the growth during the forecast period include the adoption of minimally invasive methodologies, development in emerging markets, regulatory support and reimbursement procedures, and personalized medicine. Notable trends anticipated during this period are the increased use of home-based care, wearables and remote monitoring technologies, the inclusion of telemedicine, as well as sustainable and ecologically sound practices.

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Top Growth Drivers in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Industry: What's Accelerating the Market?
Rise in conditions like Chronic Obstructive Pulmonary Disease (COPD), asthma, and lung cancer are driving the growth of the global therapeutic respiratory devices and equipment market. Factors such as ageing population, increasing tobacco use, allergens and air pollution are contributing to the surge of respiratory illnesses, subsequently fueling the demand in the therapeutic respiratory devices market. As per data from the World Health Organization, tobacco consumption is responsible for 4.9 million deaths, followed by chronic obstructive pulmonary diseases causing 1 million deaths annually, heart and respiratory diseases causing 1.7 million deaths and lung cancer resulting in 0.85 million deaths every year. A report from an Italian journal estimates that 10% of people aged 75 and above in the U.S suffer from COPD. Asthma UK states that 5.4 million people, including 1.1 million children and 4.3 million adults in the UK are currently under treatment for asthma.

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What Trends Will Shape the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Through 2029 and Beyond?
Firms within the respiratory devices and equipment market are progressively channeling investments towards advanced mechanical ventilators for effective patient care. These ventilators leverage artificial intelligence to enhance patient management, by collecting, scrutinizing, combining, and using data from vast resources. The devices equipped with AI maintain uniformity even when skilled professionals are lacking, improving patient therapy, reducing clinical errors, and foreseeing the duration of mechanical ventilation through the application of AI methods. Major companies 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 Top Companies are Driving Growth in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market?
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

Which Regions Will Dominate the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Through 2029?
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.

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