Market Overview
The Global Respiratory Care Devices Market size is expected to reach a market value of
USD 27.8 billion in 2024, and further anticipated to reach a value of
USD 60.5 billion by 2033, at a CAGR of 9.0 %.
This market offers various type of medical devices and instruments. These devices are used by patients suffering from disease such as asthma, pulmonary disease, pneumonia & other chronic respiratory conditions which provide comfort to patients so they can enjoy their everyday life. This market includes many devices like ventilators, nebulizers, oxygen concentrator, inhaler & more, used for revival purpose by forcing oxygen into the lungs of a patient which are normally employed in hospital and home Care.
Key Takeaways
- The Global Respiratory Devices Market size is estimated at USD 27.8 billion in 2024, and is expected to reach USD 60.5 billion by 2029, growing at a CAGR of 9.0 %.
- Therapeutic devices segment is expected to lead with largest revenue share of 36.0 in 2024.
- The hospital segment is expected to dominate the market with the largest revenue share of 31.5% in 2024.
- • The hospital segment is expected to dominate the market with the largest revenue share of 31.5% in 2024.
Use Cases
- Respiratory devices such as continuous positive airway pressure (CPAP) machines, bi-level positive airway pressure (BiPAP) machines, and portable oxygen concentrators help manage COPD (Chronic Obstructive Pulmonary Disease) symptoms, improve oxygenation, and enhance quality of life for patients.
- Inhalers, nebulizers, and peak flow meters are commonly used respiratory devices to deliver medication, relieve symptoms, and monitor lung function in asthma patients.
- People with severe problem having respiratory failure due to serious medical conditions like pneumonia, acute respiratory distress syndrome, or trauma require mechanical ventilation as these devices provide respiratory support by assisting breathing, ensuring adequate oxygenation and ventilation.
- Technological advancement leads to the development of portable and wearable respiratory devices which allows patients to manage their conditions more effectively at home.
- These devices play an important role in emergency medical situations and critical care settings, where quick communication is required to stabilize patients with respiratory failure.
Market Dynamic
The market is growing primarily due to increasing occurrence of respiratory illnesses, along with the introduction of advanced respiratory devices to comfort them during disease. Rising condition like lung disorders, asthma, and more boost the growth of the market. Growing respiratory disease are driven by factors such as the aging population, tobacco consumption, escalating air pollution, and occupational exposure in many industries like mining, forestry, and agriculture, which driving the growth of this market. Also, government and private initiatives are playing a significant role in driving the market expansion.
Furthermore, the demand of certain devices like resuscitators, pulse oximeters and spirometers are expected to drive by an adoption for home healthcare. Rising cases of smoking are leading to the respiratory disease like bronchitis, cancer, and other lung diseases which results into growing demand of for devices, boosting the growth of this market. However, slow adoption of advanced technology among medical profession, government hospitals and also untrained personnel in certain area is hindering the growth of this market.
Research Scope and Analysis
By Product
Therapeutic devices segment is expected to lead with largest revenue share of 36.0 % in 2024 which include ventilators, nebulizers, oxygen devices, humidifiers, positive airway pressure, capnographs and more. This segment is growing due to its ability to treat respiratory conditions by assisting or enhancing breathing. Ventilators are for critical patient who needs mechanical equipment to breathe, particularly those with severe respiratory illnesses or conditions which are normally available in two form, adult ventilators and infant ventilators.
Further, nebulizer is used to deliver medicine in the form of spray that inhaled directly into lungs which required by patients suffering from asthma or any other respiratory disease. Moreover, monitoring devices segment is expected to show high growth which include pulse oximeters, spirometers and more. Oximetry is one of those instruments which are employed to examine patient’s respiratory capacity as it works by calculating oxygen saturation in blood. Consumable and accessories offer different products used for the operation and maintenance of respiratory device which includes masks, tubing, filters, humidifiers, and more.
By Application
The hospital segment is expected to dominate the market with the largest revenue share of 31.5% in 2024 due to regular hospitalization of old people for various respiratory disease. Patients often obtain medicine from hospital pharmacies for such conditions, which further driving the growth of this market. This segment is growing due to growing population and rising occurrence of these disease. This segment is also expanding due to public-private partnerships, rapid improvements in healthcare infrastructure, and improved access to healthcare services.
Homecare is second largest segment which is anticipated to expand at the fastest CAGR during the forecasted period due to the financial benefits of home care equipment and services compared to hospital visits. Moreover, many patients with respiratory disorder opt for homecare setting due to growing expense of healthcare industry.
The Global Respiratory Care Devices Market Report is segmented on the basis of the following
By Product
- Therapeutic Devices
- Monitoring Devices
- Consumables and Accessories
- Others
By Application
- Hospitals
- Homecare
- Surgical Centers
- Clinics
- Others
Regional Analysis
North America is expected to dominate the market with 34.1 % of revenue share in 2024 which is accredited to the rise in the number of individuals suffering from asthma, pulmonary disease, & other respiratory disease. Also, digital adoption of these devices along with its accuracy, are expected to drive the growth of the market in this region. The rise in the old population in the U.S. is leading to a corresponding rise in the volume of surgeries in this region, which further boosts industry growth.
In addition, healthcare cost containment issues post the economic crisis have compelled the government to introduce new strategies to reduce the patient stay in hospitals and impose an excise tax on medical devices. This region is expanding because insurance here now pays more for treatments outside of hospitals, the economy is getting better with more people having insurance, there are better healthcare centers, and people know more about staying healthy. Asia-pacific is estimated to be the fastest growing regions for this market due to low infrastructure, treatments cost and availability of highly educated physicians particularly in China and India.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
Manufacturers are producing heavy quantities of respiratory devices to meet growing demand of this market. Many new drugs are launched by companies for the management of pulmonary disease and other respiratory diseases such as asthma over the last decade. Furthermore, most of the companies are focusing on new product launch with advanced technology along with new ventilation solution which provides respiratory support to infants, pediatrics, and adults. Also, some of the leading players are aiming at launching portable devices. Moreover, the respiratory devices market is expected to grow significantly due to development of more products.
Some of the prominent players in the global respiratory care devices market are:
- Massimo Corporation
- Teleflex Incorporated
- Fisher & Paykel Healthcare Limited
- ResMed Inc.
- Hamilton Medical AG
- Medtronic plc.
- Koninklijke Philips N.V.
- Smith’s Medical
- General Electric Healthcare Limited
- Inogen Inc.
- Others
Recent Development
- In February 2024, ResMed announced its latest bilevel sleep respiratory devices, employing both inspiratory and expiratory positive airway pressure which aim to assist healthcare providers in managing sleep apnea more effectively, promoting patient adherence to therapy.
- In August 2023, Researchers from the University of Canterbury developed a tool that makes respiratory data more accessible for clinicians and patients.
- In June 2023, Avanos Medical, Inc. has agreed to sell its Respiratory Health business to SunMed Group Holdings, LLC, a prominent company in Michigan that makes and distributes medical devices for breathing and anesthesia care across different healthcare settings.
- In March 2023, Vitalograph, producer of respiratory diagnostic devices, launched its VitaloPFT Pulmonary Function Testing Series, aimed for use in secondary care.
Report Details
| Report Characteristics |
| Market Size (2024) |
USD 27.8 Bn |
| Forecast Value (2033) |
USD 60.5 Bn |
| CAGR (2024-2033) |
9.0 % |
| Historical Data |
2018 – 2023 |
| Forecast Data |
2024 – 2033 |
| Base Year |
2023 |
| Estimate Year |
2024 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (Respiratory Consumables, Nebulizers, Oxygen Concentrators), By Application (Hospitals, Surgical Centers, Clinics, Long Term Care Centers, Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Massimo Corporation, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, ResMed Inc., Hamilton Medical AG, Medtronic plc., Koninklijke Philips N.V., Smith’s Medical, General Electric Healthcare Limite, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Respiratory Care Devices Market size is estimated to have a value of USD 27.8 billion in 2024 and is expected to reach USD 60.5 billion by the end of 2033.
North America has the largest market share for the Global Respiratory Care Devices Market with a share of about 31.5 % in 2024.
Some of the major key players in the Global Respiratory Care Devices Market are Massimo Corporation, Teleflex Incorporated, ResMed Inc. and many others.
The market is growing at a CAGR of 9 percent over the forecasted period.