The demand for therapeutic respiratory devices has significantly increased during the past several years on a global scale. For those with respiratory disorders such cystic fibrosis, asthma, and chronic obstructive pulmonary disease (COPD), these devices are essential for enhancing quality of life. The Therapeutic Respiratory Devices Market provides a wide range of options to help patients breathe more easily and lead healthier lives, from inhalers to ventilators.
Different types of respiratory problems can be treated with the help of therapeutic respiratory devices, which provide a wide range of alternatives. Patients with asthma and COPD can quickly find relief with inhalers, which are little devices that administer medication straight to the lungs. By keeping their airways open while they sleep, positive airway pressure (PAP) devices like continuous positive airway pressure (CPAP) machines help people with sleep apnea.
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The Therapeutic Respiratory Devices Market is anticipated to reach US$ 50.6 billion in value in 2023. From 2023 to 2033, the market is projected to expand at a CAGR of 4.7%, reaching US$ 80.2 billion.
The development of therapeutic respiratory devices has been greatly aided by the quick advances in technology. Smart inhalers are an example of an innovation that combines sensors and mobile applications to give real-time monitoring of medicine usage and warn patients for proper dosage. Additionally, patients who require oxygen therapy now have a new level of mobility because to portable oxygen concentrators, enabling them to lead active lives.
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.
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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
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By Application:
- COPD
- Obstructive Sleep Apnea
- Asthma
- Respiratory Distress Syndrome
- Cystic Fibrosis
- Others
By End-use:
- Hospital
- Homecare Settings
- Emergency Centers
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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