Global Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Trends: Regional Breakdowns and Strategic Insights
Discover trends, market shifts, and competitive outlooks for the respiratory devices and equipment (therapeutic and diagnostic) industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What Is the Estimated Market Size of the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market In 2029?
The dimension of the therapeutic and diagnostic respiratory devices and equipment market has escalated quickly in the past few years. The projection shows an increase from $12.18 billion in 2024 to $13.85 billion in 2025, corresponding to a compound annual growth rate (CAGR) of 13.7%. Factors that explain this growth during the historic period include the high prevalence of respiratory ailments, an increase in the aged population, environmental pollution, and the introduction of telehealth and remote monitoring.
In the coming years, the market for respiratory devices and equipment (therapeutic and diagnostic) is projected to experience swift expansion, reaching $24.31 billion in 2029 with a compound annual growth rate (CAGR) of 15.1%. The projected expansion in the forecast period can be associated with factors such as the adoption of minimally invasive techniques, growth in emerging markets, supportive regulations and reimbursement schemes, and the rise of personalized medicine. Key trends during this period are expected to be home-based care, wearable and remote monitoring, the integration of telemedicine, and the adoption of sustainable and eco-friendly practices.
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What Are the Major Market Drivers Behind the Rising Adoption of Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market?
The upsurge in cases of Chronic Obstructive Pulmonary Disease (COPD), asthma, and lung cancer will propel the global therapeutic respiratory devices and equipment market. Factors such as an aging population, tobacco use, allergens, and air pollutants enhance the incidence of respiratory diseases thereby stimulating the market. Statistics from the World Health Organization show that tobacco consumption claims 4.9 million lives, while chronic obstructive pulmonary diseases account for 1 million deaths annually, coupled with cardiovascular and respiratory diseases which cause 1.7 million deaths every year, and lung cancer which results in 0.85 million deaths annually. An Italian journal reveals that the estimated prevalence of COPD in the U.S. is 10% in individuals aged 75 years or above. Asthma UK reports that 5.4 million people are presently being treated for asthma in the UK, including 1.1 million children and 4.3 million adults.
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 Areas Are Leading Regions in the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Expansion Across the Globe?
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.
Which Cutting-Edge Market Trends Are Expected to Drive the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market’s Growth?
Businesses within the market for respiratory devices and equipment are progressively channeling investments toward improved mechanical ventilators to streamline patient care. These specialised ventilators leverage the power of artificial intelligence to enhance patient administration through data examination, analysis, integration, and incorporation from a wide range of sources. The AI-powered devices maintain regularity even when specialized personnel is unavailable, enhance patient therapy, reduces clinical errors, and predict long-term mechanical ventilation using artificial intelligence algorithms. Key players in the provision of these smart mechanical ventilators include Hamilton Medical AG, Koninklijke Philips N.V., among others.
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How Is the Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Conceptually Defined?
Respiratory devices and equipment (therapeutic and diagnostic) are used to provide medication or assist a patient who is having difficulty in breathing and cannot achieve adequate oxygen levels to maintain life. Patients with respiratory disorders such as asthma, cystic fibrosis, chronic obstructive pulmonary disease, and acute respiratory distress syndrome require respiratory devices.
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