Future Outlook of the Global Respiratory Devices And Equipment (Therapeutic) Market 2024-2033: Size and Growth Rate Predictions
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What is the Expected Growth Rate of the Respiratory Devices And Equipment (Therapeutic) Market from 2024 to 2033?
The respiratory devices and equipment (therapeutic) market has grown rapidly, from $19.9 billion in 2023 to $22.01 billion in 2024, with a CAGR of 10.6%. The rise in respiratory conditions, an aging population, advancements in technology, and better respiratory disease management are the key factors behind this growth.
The respiratory devices and equipment (therapeutic) market is forecast to reach $32.61 billion by 2028, growing at a CAGR of 10.3%. The expansion is driven by factors such as chronic diseases, lifestyle changes, telehealth adoption, and advancements in COPD management. Key trends include digital health, remote monitoring, ventilators, respiratory rehabilitation, and telehealth integration.
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What Key Factors Are Fueling the Growth of the Respiratory Devices And Equipment (Therapeutic) Market?
The increasing prevalence of respiratory diseases like chronic obstructive pulmonary disease (COPD) and sleep apnea has led to growth in the therapeutic respiratory devices and equipment market. According to the World Health Organization, smoking-related chronic obstructive pulmonary diseases cause 1 million deaths out of the 4.9 million global tobacco-related deaths, with 65 million people suffering from moderate to severe COPD. It is predicted that COPD will be the third leading cause of death worldwide by 2030. Tuberculosis, COPD, and lung cancer are expected to account for one in five global deaths by 2030. The Centers for Disease Control and Prevention (CDC) reported that 9 million adults in the USA have been diagnosed with chronic bronchitis. Additionally, approximately 22 million Americans are affected by sleep apnea, with 80% of moderate to severe cases remaining undiagnosed. A 2021 study in the American Journal of Respiratory and Critical Care Medicine found that the global prevalence of obstructive sleep apnea is around 20%. The aging population’s increased incidence of COPD and sleep apnea is driving the demand for respiratory devices.
What Are the Major Segments of the Respiratory Devices And Equipment (Therapeutic) Market?
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
What New Trends Are Transforming the Respiratory Devices And Equipment (Therapeutic) Market?
AI is also being used in the development of respiratory devices for asthma and COPD. AI-powered inhalers with sensors track dosage intake and alert patients and doctors to any changes in a patient’s condition. For example, Respira Labs launched the Sylvee, an AI-powered wearable lung monitor, to assess lung function.
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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
The Respiratory Devices And Equipment (Therapeutic) Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the respiratory devices and equipment (therapeutic) market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Respiratory Devices And Equipment (Therapeutic) Market Include
1. Respiratory Devices And Equipment (Therapeutic) Market Executive Summary
2. Respiratory Devices And Equipment (Therapeutic) Market Segments
3. Respiratory Devices And Equipment (Therapeutic) Market Size And Template Market Growth Rate
4. Key Respiratory Devices And Equipment (Therapeutic) Market Trends
5. Major Respiratory Devices And Equipment (Therapeutic) Market Drivers
……
25. Key Mergers And Acquisitions In The Respiratory Devices And Equipment (Therapeutic) Market
26. Top Respiratory Devices And Equipment (Therapeutic) Companies
27. Respiratory Devices And Equipment (Therapeutic) Market Opportunities And Strategies
28. Respiratory Devices And Equipment (Therapeutic) Market, Conclusions And Recommendations
29. Appendix
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