The therapeutic respiratory devices market is expected to grow due to factors such as the rising prevalence of respiratory disorders such as COPD and asthma. Furthermore, an increasing geriatric population and increased tobacco and cigarette use over the last decade have fueled the therapeutic respiratory devices market growth. Moreover, product advancement due to R&D activities in this sector is another factor that will result in significant revenue growth in the therapeutic respiratory devices market.
LAS VEGAS, Feb. 14, 2023 /PRNewswire/ -- DelveInsight's Therapeutic Respiratory Devices Market Insights report provides the current and forecast market analysis, individual leading therapeutic respiratory devices companies' market shares, challenges, therapeutic respiratory devices market drivers, barriers, and trends, and key therapeutic respiratory devices companies in the market.
Key Takeaways from the Therapeutic Respiratory Devices Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global therapeutic respiratory devices market during the forecast period.
- Notable therapeutic respiratory devices companies such as Breas Medical AB, Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare, Hamilton Medical, Hill-Rom Services Inc. (Baxter), ICU Medical, Inc., Invacare Corporation, Koninklijke Philips N.V., Medtronic., ResMed, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Vyaire Medical, Inc., CAIRE Inc. (NGK SPARK PLUG CO., LTD.), Lind, Chart Industrie, DeVilbiss Healthcare, and several others are currently operating in the therapeutic respiratory devices market.
- In January 2023, ABM Respiratory Care received 510(k) clearance from the US Food and Drug Administration for its BiWaze Clear System (FDA). The new airway clearance system uses an innovative Dual Lumen Breathing Circuit to deliver Oscillating Lung Expansion (OLE) therapy.
- In July 2022, Omron Healthcare announced its latest advancement in the oxygen therapy category with the launch of a portable Oxygen concentrator. It is a medical molecular sieve-based concentrator providing a continuous supply of high-purity oxygen.
- In January 2022, a UK-based manufacturer of anesthesia equipment OES Medical launched a pioneering new mains-powered ICU ventilator to support hospitals manage oxygen demand at Arab Health 2022.
To read more about the latest highlights related to the therapeutic respiratory devices market, get a snapshot of the key highlights entailed in the Global Therapeutic Respiratory Devices Market Report
Therapeutic Respiratory Devices Overview
Therapeutic respiratory devices are primarily used in therapeutics to improve pulmonary functionalities by clearing the airway, increasing lung oxygen intake capacities, and assisting with mucous removal from the bronchi during respiratory therapeutics treatment. These respiratory devices are also used to aid in treating various chronic ailments associated with respiratory dysfunction. These ailments include chronic obstructive pulmonary disease (COPD), bronchitis, sleep disorders, asthma, and other chronic diseases. Several types of these devices are available on the market, each with a slightly different application purpose, such as long-term respiratory devices used primarily for intensive care, mobile home respiratory devices used in homecare settings, and portable respiratory devices used during an emergency to provide point-of-care assistance. Because of their wide range of applications, these devices are also used to facilitate and improve respiratory function in infants during postnatal care, particularly in preterm births, post-partum complications, and associated conditions.
Therapeutic Respiratory Devices Market Insights
North America is expected to lead the global therapeutic respiratory devices market in terms of revenue generation. The highest growth in the region is attributed to the rising prevalence of respiratory disorders. Aside from that, the presence of many key players in the North American therapeutic respiratory devices market is a key factor in the market share dominance. For instance, in January 2023, ABM Respiratory Care received 510(k) clearance from the US Food and Drug Administration for its BiWaze Clear System (FDA). The new airway clearance system uses an innovative Dual Lumen Breathing Circuit to deliver Oscillating Lung Expansion (OLE) therapy.
To know more about why North America is leading the market growth in the therapeutic respiratory devices market, get a snapshot of the Therapeutic Respiratory Devices Market Outlook
Therapeutic Respiratory Devices Market Dynamics
The rising prevalence of respiratory disorders is one of the major factors driving the therapeutic respiratory devices market. Chronic respiratory diseases affect the airways and other lung structures. Chronic obstructive pulmonary disease (COPD), asthma, occupational lung diseases, and pulmonary hypertension are among the most common. Other risk factors besides tobacco smoke include air pollution, occupational chemicals and dust, and frequent lower respiratory infections during childhood. The rise in the prevalence of respiratory diseases has increased the therapeutic respiratory device market.
Furthermore, the growing geriatric population has increased the demand for therapeutic respiratory devices, as the chances of developing COPD increase with age due to a weakened immune system. In addition, various government responses to the alarming deaths caused by respiratory disorders have increased demand for the therapeutic respiratory device market, particularly in homecare settings, as the population is aware of these initiatives.
However, certain restraints to the growth of the therapeutic respiratory devices market include the high cost of launching new products, and product recalls and failures, which will act as barriers to the therapeutic respiratory devices market growth during the forecast period.
Additionally, with the increasing severity of the COVID-19 pandemic in early 2020, the therapeutic respiratory devices market demand skyrocketed. The increased occurrence of respiratory diseases due to the pandemic's consequences increased demand for therapeutic respiratory devices. Furthermore, increased investments by the government and major players to address the ventilator shortage resulted in numerous market launches. All of these factors have a positive impact on the therapeutic respiratory devices market growth.
Get a sneak peek at the therapeutic respiratory devices market dynamics @ Therapeutic Respiratory Devices Market Dynamics Analysis
Report Metrics | Details |
Coverage | Global |
Study Period | 2019-2027 |
Base Year | 2021 |
Therapeutic Respiratory Devices Market CAGR | ~9% |
Key Therapeutic Respiratory Devices Companies | Breas Medical AB, Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare, Hamilton Medical, Hill-Rom Services Inc. (Baxter), ICU Medical, Inc., Invacare Corporation, Koninklijke Philips N.V., Medtronic., ResMed, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Vyaire Medical, Inc., CAIRE Inc. (NGK SPARK PLUG CO., LTD.), Lind, Chart Industrie, DeVilbiss Healthcare, among others |
Therapeutic Respiratory Devices Market Assessment
- Therapeutic Respiratory Devices Market Segmentation
- Market Segmentation By Product: Positive Airway Pressure Devices (Continuous Positive Airway Pressure Devices, Auto-Titrating Positive Airway Pressure Devices, Bi-Level Positive Airway Pressure Devices), Oxygen Concentrators (Fixed Oxygen Concentrators, Portable Oxygen Concentrators), Ventilators (Adult Ventilators, Neonatal Ventilators), Inhalers (Metered Dose Inhaler, Dry Powder Inhaler, Soft Mist Inhaler), Nebulizers (Compressor-Based Nebulizers, Piston-Based Hand-Held Nebulizers, Ultrasonic Nebulizers), Humidifiers (Heated Humidifiers, Passover Humidifiers, Integrated Humidifiers, Built-In Humidifiers, Standalone Humidifiers)
- Market Segmentation By Application: Chronic Obstructive Pulmonary Disease, Asthma, Obstructive Sleep Apnea, Respiratory Distress Syndrome, and Others
- Market Segmentation By End User: Hospital And Clinics, Home Care Settings, and Others
- Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View
Which MedTech key players in the therapeutic respiratory devices market are set to emerge as the trendsetter explore @ Therapeutic Respiratory Devices Companies
Table of Contents
1 | Report Introduction |
2 | Executive summary |
3 | Regulatory and Patent Analysis |
4 | Key Factors Analysis |
5 | Porter's Five Forces Analysis |
6 | COVID-19 Impact Analysis on Therapeutic Respiratory Devices Market |
7 | Therapeutic Respiratory Devices Market Layout |
8 | Global Company Share Analysis - Key 3-5 Companies |
9 | Therapeutic Respiratory Devices Market Company and Product Profiles |
10 | Project Approach |
11 | About DelveInsight |
Interested in knowing the therapeutic respiratory devices market by 2027? Click to get a snapshot of the Therapeutic Respiratory Devices Market Trends
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