Therapeutic Respiratory Devices Market - By Product (Positive Airway Pressure Devices, Oxygen Concentrators, Ventilators, Inhalers, Nebulizers, Humidifiers), By Application (COPD, Obstructive Sleep Apnea, Asthma, Cystic Fibrosis), By End-use & Forecast, 2022-2030

Industry Overview

Therapeutic Respiratory Devices Market size was valued at over USD 47 billion in 2021 and is poised to grow at over 4% CAGR from 2022 to 2030. Rising occurrences of respiratory diseases and the high mortality rates associated with them in underdeveloped nations will drive market landscape.
 

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Therapeutic respiratory devices are surging in popularity due to the growing prevalence of high-risk non-communicable respiratory ailments, including asthma, lung cancer, cystic fibrosis, and others. The occurrence of such ailments can be attributed to acute exposure to air pollution due to rising urbanization, which is the underlying cause of respiratory and lung problems. Propelled by the increasing geriatric population, respiratory hospitalizations have increased in recent times, contributing to the market expansion.
 

Absence of patient abidance while using respiratory devices may impede the industry development

Non-abidance of the treatment regimen by patients while using respiratory devices may act as a hindrance to the therapeutic respiratory devices market. Despite medical advancements, the discomfort and inconvenience experienced by patients while availing of treatment with therapeutic respiratory devices are high. Another factor is the rise in the number of complications caused by equipment misfits that acts as a major barrier to industry expansion.
 

Emergence of technologically upgraded products to foster the market progression

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Based on product, the therapeutic respiratory devices market is fragmented into positive airway pressure (PAP) devices, oxygen concentrators, ventilators, inhalers, nebulizers, and humidifiers. The market size from the nebulizers segment is expected to register over 9% CAGR during 2022-2030. The rising instances of COPD among the elderly population and the emergence of advanced yet multifunctional nebulizers feasible for regular use are expected to drive product sales. Growing preference for nebulizers to curb the effects of breathlessness due to ailments like asthma and chronic bronchitis and their high success rates with masks is likely to stimulate the market statistics. 
 

Increasing adoption of respiratory diseases to combat COPD will drive the overall industry outlook

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The therapeutic respiratory devices market is categorized into COPD, obstructive sleep apnea, asthma, respiratory distress syndrome, and cystic fibrosis with respect to application. COPD segment is poised to grow at over 4.5% CAGR during 2022-2030. This is due to rising instances of COPD cases, which increase the adoption of respiratory devices like soft mist inhalers (SMI), dry powder inhalers (DPI), nebulizers, and pressurized metered dose inhalers (pMDI).
 

Rapid advancements in emergency centers to push the segment expansion

Based on end-use, the industry is classified into hospitals, emergency centers, and homecare settings. The therapeutic respiratory devices market from emergency centers segment is expected to depict more than 4% CAGR between 2022-2030. The growth can be credited to patient-centric treatment methodologies and advanced diagnostic modules. Additionally, the ease of access, availability of professional medical practitioners, and reimbursements are pushing patients towards emergency centers for the diagnosis of respiratory problems.
 

Europe to emerge as a major contender for therapeutic respiratory devices market

Europe market is likely to record more than 3% CAGR during 2022-2030, owing to the increased occurrences of respiratory diseases like lung cancer, tuberculosis, asthma, and COPD in the region. Moreover, a surge in indoor air pollution levels and constant exposure to occupational irritants contribute to numerous respiratory problems are increasing the need for therapeutic respiratory devices. The Middle East and Africa is another region that will prove profitable for market players.
 

MEA therapeutic respiratory devices industry size was valued at over USD 1 billion in 2021. This is owing to rising prevalence of diseases such as asthma, COPD, and lung cancer.
 

Product innovations to define the competitive landscape

Some of the key contenders partaking in therapeutic respiratory devices market are Breas Medical AB, Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare, Hamilton Medical, Hill-Rom Services Inc. (Baxter), Invacare Corporation, Koninklijke Philips N.V., and others. These companies are emphasizing product innovations to sustain their industry leadership
 

Impact of COVID-19 on the therapeutic respiratory devices market trends

The market was impacted positively amid the COVID-19 outbreak. The increased occurrences of respiratory diseases due to the implications of the pandemic raised the demand for therapeutic respiratory devices. In addition, increased investments by the government and private players with new product launches to curb the effects of the virus transmission positively contributed to product sales. In fact, the U.S. Food and Drug Administration also approved the use of emergency equipment named Vesper developed by Prisma Health. It can be used for up to four patients on a ventilator. The sudden spike in COVID-19 cases with an increased burden on the healthcare units presented new growth opportunities for advanced respiratory device manufacturers.
 

The therapeutic respiratory devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030, for the following segments:

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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

The above information is provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Argentina
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE