Respiratory Devices And Equipment (Therapeutic) Outlook 2034: Key Drivers, Trends, and Market Frontiers
Discover trends, market shifts, and competitive outlooks for the respiratory devices and equipment (therapeutic) industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What Are the Projected Market Size and Growth Rates for the Respiratory Devices And Equipment (Therapeutic) Market From 2025 To 2029?
The market size for therapeutic respiratory devices and equipment has seen a significant increase in recent years. Set to expand from $21.07 billion in 2024 to $23.04 billion in 2025, it predicts a compound annual growth rate (CAGR) of 9.3%. Factors such as the rising prevalence of respiratory conditions, an increasing aging population, technological progress, and improved management of respiratory diseases account for the growth experienced in the past.
The market size of therapeutic respiratory devices and equipment is projected to witness significant expansion in the upcoming years, reaching a value of $32.93 billion in 2029 with a compound annual growth rate (CAGR) of 9.3%. Such growth during the forecast period can be linked to elements like an increase in chronic diseases, lifestyle factors, the extension of telehealth, cutting-edge technological advances, and effective COPD management. Key trends anticipated in the forecast period involve digital health and remote observation, life-supporting ventilators, respiratory rehabilitation, and the integration of telehealth.
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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Respiratory Devices And Equipment (Therapeutic) Market?
The surge in respiratory conditions such as chronic obstructive pulmonary disorder (COPD) and sleep apnea has fueled the expansion of the therapeutic respiratory devices and equipment market. The World Health Organization reports that 1 million individuals perish from COPD caused by smoking each year, representing a fraction of the 4.9 million who succumb to tobacco-related deaths. Furthermore, 65 million people grapple with moderate to severe COPD. They estimate COPD’s status will rise to become the third most common cause of global fatalities from respiratory diseases prone to fatality, such as tuberculosis, COPD, and lung cancer. These diseases are projected to cause one out of every five deaths globally by 2030. According to data from the National Health Interview Survey by the Centers for Disease Control and Prevention (CDC), 9.0 million Americans were diagnosed with chronic bronchitis. As estimated, there are 22 million Americans struggling with sleep apnea; however, 80% of moderate to severe obstructive sleep apnea cases remain undiagnosed. The escalating occurrence of COPD and sleep apnea amongst the elderly is driving the therapeutic respiratory devices and equipment market’s growth.
Which Segments in the Respiratory Devices And Equipment (Therapeutic) Offer the Most Growth?
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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What Are the Fastest-Growing Geographies in the Respiratory Devices And Equipment (Therapeutic) Market?
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
What Key Trends Are Shaping the Future of the Respiratory Devices And Equipment (Therapeutic) Market?
Businesses within the therapeutic respiratory devices and equipment sector are increasingly adopting AI technology to innovate devices for Asthma and COPD treatment. AI aids in the creation of advanced inhalers equipped with sensors, facilitating patients to monitor their dosage intake. These low-power, long-lasting sensors track changes or inconsistencies in respiration, useful in both add-on and integrated inhalers. Notably, these sensor-fitted inhalers can autonomously collect health data and provide alarm signals for both medical professionals and patients about patients’ health status. In addition, firms are working on AI-assisted imaging systems and AI-supported platforms that will perform as vocal biomarkers. For instance, in March 2022, US-based firm Respira Labs introduced an AI-driven wearable lung monitor ‘Sylvee’. This innovative product leverages acoustic resonance to evaluate lung function and identify any discrepancies therein.
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What Are the Key Elements That Define the Respiratory Devices And Equipment (Therapeutic) Market?
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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