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What Is the Estimated Market Size of the Respiratory Devices And Equipment (Therapeutic) Market In 2029?

The market for therapeutic respiratory devices and equipment has seen robust growth in recent years. The forecast predicts a rise from $21.07 billion in 2024 to $23.04 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.3%. Factors contributing to this growth during the historic period include an increase in respiratory diseases, an aging population, technological progress, and improved respiratory disease treatment.

What Growth Rate Is Forecasted for the Respiratory Devices And Equipment (Therapeutic) Market by 2029?

The market for respiratory devices and equipment (therapeutic) is set to experience robust expansion in the coming years, with projections suggesting a growth to $32.93 billion by 2029 with a compound annual growth rate (CAGR) of 9.3%. This anticipated increase during the forecast period is largely owing to the rising prevalence of chronic diseases, lifestyle-related disorders, the expansion of telehealth services, breakthroughs in technology, and better COPD management. The prediction period also points to surging trends like digital health and remote patient monitoring, advancements in ventilators and life support systems, progress in respiratory rehabilitation, and integration with telehealth.

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Which Key Companies Are Shaping the Future of the Respiratory Devices And Equipment (Therapeutic) Market?

Major companies operating in the respiratory devices and equipment (therapeutic) market include Hamilton Medical AG, Koninklijke Philips N.V., Smiths Medical, GE Healthcare, Philips Healthcare, Chart Industries Inc., Invacare Corporation, Fisher & Paykel Healthcare Limited, ResMed Inc., Drägerwerk AG & Co. KGaA, Medtronic plc, Masimo Corporation, CareFusion Corporation, Getinge AB, Hill-Rom Holdings Inc., Becton, Dickinson and Company, Air Liquide S.A., Vyaire Medical Inc., Compumedics Limited, Covidien plc, Mindray Medical International Limited, Inogen Inc., Nihon Kohden Corporation, Siemens Healthcare GmbH, Teleflex Incorporated, Breas Medical AB, AirSep Corporation, Rotech Healthcare Inc., 3B Medical Inc.

Which Factors Are Driving Demand in the Respiratory Devices And Equipment (Therapeutic) Industry?

The escalating incidence of respiratory ailments such as chronic obstructive pulmonary disorder (COPD) and sleep apnea has been a significant factor propelling the growth of the therapeutic respiratory devices and equipment market. The World Health Organization reports that of the 4.9 million fatalities resulting from tobacco use, one million are attributable to COPD induced by smoking. Moreover, it estimates that 65 million individuals are living with moderate to severe COPD. COPD is projected to become the third most common cause of death worldwide, and diseases like Tuberculosis, COPD, and lung cancer are anticipated to be the cause of one in five deaths globally by 2030. The National Health Interview Survey by the Centers for Disease Control and Prevention (CDC) has revealed that the number of adults diagnosed with chronic bronchitis in the USA stands at 9.0 million. Furthermore, it’s estimated that in the USA alone, sleep apnea afflicts 22 million Americans, with 80% of moderate and severe obstructive sleep apnea cases going undiagnosed. The rising occurrence of COPD and sleep apnea, particularly in the elderly demographic, is stimulating the expansion of the therapeutic respiratory devices and equipment market.

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How Is the Respiratory Devices And Equipment (Therapeutic) Market Segmented by Several Divisions?

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

What are the Emerging Market Trends Driving the Growth of the Respiratory Devices And Equipment (Therapeutic) Industry?

Companies within the therapeutic respiratory devices and equipment market are increasingly implementing artificial intelligence (AI) in the development of respiratory devices for treating Asthma and COPD. AI supports the creation of state-of-the-art sensor-equipped inhalers that allow patients to keep track of their dosage intake. These durable sensors consume minimal power and alert patients by identifying differences or alterations in their respiration rate. Both add-on and embedded inhalers utilize these sensors. Data from these sensor-equipped inhalers can be automatically logged and utilised to warn doctors and patients about the patient’s health status. Companies are also investing in devices like AI-enhanced imaging systems and platforms that can function as voice biomarkers. For example, Respira Labs, a respiratory technology company based in the US, recently introduced a AI-driven wearable lung monitor named ‘Sylvee’ in March 2022. By leveraging acoustic resonance, this new product examines lung function and identifies any variations.

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Which Regions Are Driving Growth 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

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This Report Delivers Insight On:

1. How big is the respiratory devices and equipment (therapeutic) market, and how is it changing globally?

2. Who are the major companies in the respiratory devices and equipment (therapeutic) market, and how are they performing?

3. What are the key opportunities and risks in the respiratory devices and equipment (therapeutic) market right now?

4. Which products or customer segments are growing the most in the respiratory devices and equipment (therapeutic) market?

5. What factors are helping or slowing down the growth of the respiratory devices and equipment (therapeutic) market?

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