Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Growth Outlook: Trends, Market Size, and Opportunities Over the Next Decade
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theRespiratory Devices And Equipment (Therapeutic And Diagnostic) Market?
The therapeutic respiratory devices market is expected to grow as a result of increased respiratory disease prevalence, including COPD, asthma, and lung cancer. The rise in the elderly population, combined with factors like tobacco consumption and air pollution, is contributing to the growth in respiratory disease cases, thereby driving the demand for therapeutic devices. According to WHO, smoking causes millions of deaths annually from respiratory diseases, contributing to the expansion of this market.
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#What Long-Term Growth Rate is Expected for theRespiratory Devices And Equipment (Therapeutic And Diagnostic) Market Between 2025 and 2034?
The respiratory devices and equipment (therapeutic and diagnostic) market size has grown rapidly in recent years. It is expected to increase from $12.18 billion in 2024 to $13.85 billion in 2025, at a compound annual growth rate (CAGR) of 13.7%. The growth can be attributed to the prevalence of respiratory conditions, the aging population, environmental pollution, and the increasing adoption of telehealth and remote monitoring technologies.
The respiratory devices and equipment (therapeutic and diagnostic) market is forecast to grow swiftly, projected to reach $24.31 billion by 2029 with a CAGR of 15.1%. Growth is attributed to the expansion of minimally invasive procedures, supportive regulations, and increasing demand in emerging markets. Notable trends involve remote and home-based therapies, wearable monitoring tech, telehealth services, and eco-conscious manufacturing.
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Which Upcoming Market Trends and Innovations Are Set to Influence theRespiratory Devices And Equipment (Therapeutic And Diagnostic) Market’s Path Forward?
In the respiratory devices and equipment market, companies are increasingly investing in enhanced mechanical ventilators to improve patient management. These ventilators incorporate artificial intelligence to analyze and integrate data from various sources. AI-enabled devices maintain consistency in the absence of expert personnel, enhance treatment outcomes, reduce clinical errors, and predict prolonged mechanical ventilation needs. Leading companies offering intelligent mechanical ventilators include Hamilton Medical AG and Koninklijke Philips N.V.
Who Are the Key Market Players Influencing the Growth of the Corn and Respiratory Devices And Equipment (Therapeutic And Diagnostic) Industry?
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 Key Market Segments Comprise the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market and Drive Its Revenue Growth?
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 Regions Are Emerging as Leaders in 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.
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