Global Therapeutic Respiratory Devices Market Analysis and Research Report 2022-2032 | FMI
The Therapeutic Respiratory Devices Market was valued at US$ 47 billion in 2021 and is expected to reach US$ 68.62 billion by 2032, growing at a CAGR of 3.5% from 2022 to 2032.
The increased prevalence of respiratory disorders, as well
as rapid technological advancements, are driving sales of therapeutic
respiratory devices. Furthermore, the market is expected to grow as more
therapeutic respiratory devices, such as humidifiers, nebulizers, and oxygen
concentrators, are adopted. Among the various types of respiratory devices
available are long-term respiratory therapy for critical care, emergency
respiratory devices for rescue applications, and mobile home respiratory
devices. The open-access journal Therapeutic Advances in Respiratory Diseases
publishes peer-reviewed original research papers, reviews, and scholarly
commentary on cutting-edge research and studies in the treatment of respiratory
illnesses.
“Physicians and patients choose respiratory
therapy devices for the treatment of respiratory problems owing to the medical
intervention in both acute and chronic patient care.”
Key Takeaways
- Existence
of modern healthcare facilities in the United States and Canada,
the therapeutic respiratory devices market in North America gained over
36% market share in 2021.
- The
Asia Pacific is predicted to expand the quickest throughout the forecast
period, owing to factors such as increased asthma incidence in adults and
children, as well as technology improvements.
- Additionally,
the market expansion would be aided by rising healthcare awareness and
improved healthcare infrastructure.
- The
clinical trial of Tempol for the treatment of COVID-19 by Adams
Respiratory Therapeutics Inc has surpassed enrollment
expectations.
- COPD
is estimated to affect 10% of adults aged 75 and older in the United
States, according to the Journal of the Italian Society of Gerontology and
Geriatrics.
- According
to statistics issued by the Global Initiative for Asthma (GINA), an
estimated 100 million people with asthma are expected to be diagnosed by
2025.
Competitive Landscape
Carefusion Corporation, G.E. Healthcare, Chart industries,
Philips Healthcare, Compumedics Ltd., Smiths Medical, Covidien PLC, Invacare,
Fisher and Paykel, and Mindray are some of the major respiratory device
companies.
Acquisitions and mergers, the launch of new products and
services, partnerships and joint ventures, MoU agreements, V.C. and funding
activities, R&D activities, and geographic expansion, among other
noteworthy activities by key players in the therapeutic respiratory devices
market, are among the key strategic developments in the competitive landscape.
- Acapella,
a select blue vibratory PAP therapy device, was released by Smiths Medical
in April 2021. It is a drug-free supplementary therapy for people with
asthma, COPD, cystic fibrosis, and lung illness that aids in the
evacuation of secretions.
- Koninklijke
Philips N.V. finalized the acquisition of BioTelemetry, Inc., a firm
located in the United States, in February 2021. This aided in the
expansion of Philips’ product line, resulting in increased sales of
therapeutic respiratory devices.
Key Segments
By Product:
- Positive
Airway Pressure (PAP) Devices
- Continuous
Positive Airway Pressure (CPAP) Devices
- Auto-titrating
Positive Airway Pressure (APAP) Devices
- Bi-level
Positive Airway Pressure (BiPAP) Devices
- Oxygen
Concentrator
- Fixed
Oxygen Concentrators
- Portable
Oxygen Concentrators
- Ventilators
- Adult
Ventilators
- Neonatal
Ventilators
- Inhalers
- Metered
Dose Inhaler (MDI)
- Dry
Powder Inhaler (DPI)
- Soft
Mist Inhaler (SMI)
- Nebulizers
- Compressor-based
Nebulizers
- Piston-based
Hand-held Nebulizers
- Ultrasonic
Nebulizers
- Humidifiers
- Heated
Humidifiers
- Passover
Humidifiers
- Integrated
Humidifiers
- Built-in
Humidifiers
- Standalone
Humidifiers
- Others
By Application:
- COPD
- Obstructive
Sleep Apnea
- Asthma
- Respiratory
Distress Syndrome
- Cystic
Fibrosis
- Others
By End-use:
- Hospital
- Homecare
Settings
- Emergency
Centers
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