The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s respiratory devices and equipment (therapeutic) market report forecasts the respiratory devices and equipment (therapeutic) market size to grow to $29.55 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Respiratory Devices And Equipment (Therapeutic) Market Report 2023 – https://www.thebusinessresearchcompany.com/report/respiratory-devices-and-equipment-therapeutic-global-market-report

Respiratory Devices And Equipment (Therapeutic) Market Size Forecast
The global respiratory devices and equipment (therapeutic) market is expected to grow from $18.03 billion in 2022 to $19.90 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global respiratory devices and equipment (therapeutic) market size is expected to grow to $29.55 billion in 2027 at a CAGR of 10.4%.

Asia-Pacific held the largest respiratory devices and equipment (therapeutic) market share.

Key Respiratory Devices And Equipment (Therapeutic) Market Driver ­– Rise In The Prevalence Of Respiratory Diseases Such As COPD And Sleep Apnea
According to World Health Organization, one million people die due to chronic obstructive pulmonary diseases caused by smoking among the 4.9 million people who die due to tobacco consumption and 65 million people suffer from moderate to severe COPD. As per its estimates, COPD is predicted to be the third leading cause of death worldwide and potentially fatal respiratory diseases. Tuberculosis, COPD, and lung cancer will account for about one in five deaths worldwide by 2030. According to National Health Interview Survey by the Centers for Disease Control and Prevention (CDC), the number of adults with diagnosed chronic bronchitis in the USA was 9.0 million. In the USA, it is estimated that 22 million Americans suffer from sleep apnea, with 80% of the cases of moderate and severe obstructive sleep apnea undiagnosed. According to a research study published on American Journal of Respiratory and Critical Care Medicine, in 2021, global prevalence of obstructive sleep apnea was found to be around 20% globally. The increased prevalence of COPD and sleep apnea in the geriatric population is driving the market for therapeutic respiratory devices.

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Key Respiratory Devices And Equipment (Therapeutic) Market Trend – Adopting AI To Develop Respiratory Devices
The companies in the respiratory devices and equipment therapeutic market are increasingly using AI to develop respiratory devices to treat Asthma and COPD. Artificial intelligence supports the development of innovative sensors-equipped inhalers which help patients to track their dosage intake. These sensors are durable and consume less power and help caution the patients by noting the differences or fluctuations in respiration. These are used for both add-on and embedded inhalers. These inhalers with sensors can track data automatically and can alert both the doctors and patients about the health condition of the patients. Also, the companies in developing devices such as AI aided imaging systems and AI aided platforms that will act as voice biomarkers. For instance, in March 2022, Respira Labs, a US-based respiratory technology company, launched AI-powered wearable lung monitor ‘Sylvee’. The new product uses acoustic resonance to assess the lung function and detect any variations in the lung function.

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

Respiratory Devices And Equipment (Therapeutic) Market Major Players and Strategies
Major players in the respiratory devices and equipment (therapeutic) market are Hamilton Medical AG, Koninklijke Philips N.V, Smiths Medica, Ge Healthcare, Philips Health Care, Chart Industries, Invacare Corporation, Fisher & Paykel Healthcare Limited, Resmed, and Dragerwerk AG.

In March 2020, Masimo, a global leader in noninvasive monitoring technologies acquired NantHealth, Inc’s connected care business for an undisclosed amount. NantHealth is a provider a tablet-optimized application that sits on top of our DCX platform to provide clinicians more convenient and ubiquitous access to capture a wide array of patient vitals such as respiratory rate, blood pressure, and heart rate in addition to performing patient assessments. This move of Masimo will leverage its capabilities with NantHealth’s solutions that can enable a more efficient patient rounding and assessment workflow by providing a near real-time stream of data from the patient’s bedside unlike periodic sampling typically entered into an EHR hours later.

The Respiratory Devices And Equipment (Therapeutic) Global Market Report 2023 covers regional data on respiratory devices and equipment (therapeutic) market size, respiratory devices and equipment (therapeutic) market trends and drivers, opportunities, strategies, and respiratory devices and equipment (therapeutic) market competitor analysis. The countries covered in the respiratory devices and equipment (therapeutic) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Respiratory devices and equipment (therapeutic) are used to treat patients with acute or chronic respiratory disorders such as chronic obstructive pulmonary disease (COPD), chronic bronchitis, asthma, sleep disorders, etc.

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