The global therapeutic respiratory devices market is on a trajectory of substantial growth, fueled by the rising prevalence of respiratory diseases worldwide. Recent market analysis forecasts the market to reach USD 50.6 billion by 2023 and surge to USD 80.2 billion by 2033, showcasing a robust Compound Annual Growth Rate (CAGR) of 4.7%.
This significant expansion is driven by advancements in healthcare technologies aimed at improving respiratory care outcomes. As the incidence of respiratory ailments continues to rise globally, the demand for innovative therapeutic devices such as ventilators, CPAP machines, and nebulizers is expected to escalate.
Our Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-14374
The surge in demand for advanced respiratory solutions stems from the increasing prevalence of chronic obstructive pulmonary disease (COPD), sleep apnea, and various other respiratory ailments. Factors contributing to this growth include:
- Rising Prevalence of Respiratory Diseases: Chronic obstructive pulmonary disease (COPD) and sleep apnea are among the leading respiratory ailments propelling the demand for therapeutic devices.
- Focus on Improved Healthcare Infrastructure: Governments and healthcare organizations globally are prioritizing enhanced healthcare infrastructure and accessibility to medical facilities, thereby escalating the need for these devices.
- Increased Investment in Research and Development (R&D): The COVID-19 pandemic highlighted the pivotal role of respiratory support devices, prompting escalated investments in research and development for more sophisticated and efficacious solutions.
This growth trajectory underscores the significance of innovation and advancement in addressing the evolving healthcare landscape, particularly concerning respiratory health.
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.
Get Customization on This Report: https://www.futuremarketinsights.com/customization-available/rep-gb-14374
Competitive Landscape:
- Aerin Medical
- BMC Medical Co., Ltd.
- CareFusion Corporation
- Covidien Plc
- Drägerwerk AG & Co. KGaA
- Fisher & Paykel Healthcare Limited
- GE Healthcare
- Hamilton Medical
- Invacare Corporation
- Koninklijke Philips N.V.
- Medtronic
- Nidek Medical Products, Inc.
- Teleflex Incorporated
- Smiths Medical
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.
A Full Report Overview: https://www.futuremarketinsights.com/checkout/14374
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
