Registering a CAGR of 8.5% over the forecast period of 2022-2027, the respiratory devices market is expected to reach the market value of US$ 27.6 billion in the year 2027 from US$ 18.4 billion in the year 2022.
The global respiratory care devices market was valued at $ 18.4 million in 2021 and is expected to reach $ 27.6 billion by 2027, with a CAGR of 8.5 percent expected over the forecast period. Respiratory care devices are used to diagnose, monitor, and treat respiratory disorders as COPD, asthma, tuberculosis, and pneumonia. Patients suffering from acute and chronic respiratory problems can benefit from these devices. The report breaks down the market for respiratory care devices by product category, end user, and geography.
In developed countries, the growing preference for smart or wearable respiratory devices over traditional respiratory devices presents a substantial opportunity for global respiratory device market participants. The need for portable respiratory devices is increasing as more neonates and individuals with respiratory illnesses adopt them. Patients with chronic respiratory problems, for example, require a constant supply of oxygen. A portable oxygen concentrator also has various other advantages, such as being lightweight, tiny, and easy to transport, making it the best gadget to use.
Along with technological advancements and increasing applications in home care settings, the respiratory device market is expected to show a fast growth owing to rising pervasiveness of respiratory disorders like TB, asthma, sleep apnea and COPD. In India, there is high rate of respiratory diseases because of vast urbanization and huge pollution. The awareness about these diseases and healthcare facilities have increased and hence the government is investing heavily in mitigating respiratory ailments. Increase in geriatric population also contributes to such respiratory illnesses.
Who are the Major Players in Respiratory Devices Market?
Top Key players in the Respiratory Devices Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Respiratory Devices Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Resmed, Philips Healthcare, Medtronic, Carefusion, GE Healthcare, Teijin Pharma, Drager Medical, Fisher & Paykel, MEKICS, Weinmann, Air Liquide, Maquet, SLE Ltd, Hamilton Medical, eVent Medical, DeVilbiss, Apex Medical and Others.
Global Respiratory Devices Market research provides a detailed Analytical Insights of global market size, regional and country-level scope, segmentation wise growth, global share, Competition Scenario, sales analysis, impact global market players on domestic players, value chain optimization, trade regulations, Latest developments, future opportunities, product launches, expanding marketplaces, and New technological innovations.
Apr 14, 2020: Philips introduces new Philips Respironics E30 ventilator to help free up ICU units in wake of COVID-19--
Philips today announced its initiative to quickly scale production of its new Philips Respironics E30 ventilator as a readily available ventilation alternative during the COVID-19 crisis in situations where full-featured, critical care ventilators are not available. Philips will begin production immediately, ramping up outputs on an ongoing basis with expectations of producing 15,000 units per week in April, 2020.
What are the major Applications, Types and Regions for Respiratory Devices Market?
By Type, Respiratory Devices Market has been segmented into
By Application, Respiratory Devices Market has been segmented into
In 2019, the respiratory care devices market in North America was the largest, followed by Europe and Asia Pacific. Due to the presence of a large pool of respiratory patients, rising healthcare expenditure, rapidly developing healthcare infrastructure, rising per capita income, growing middle-class population, and growing prevalence of tobacco smoking in this region, the Asia Pacific market is expected to grow at the fastest CAGR during the forecast period. APAC is also emerging as a medical tourism hotspot and is one of the fastest-growing markets for medical operations and devices. Medical tourists have been drawn to APAC countries, particularly India and China, because of their low infrastructure and treatment costs, as well as the availability of highly educated physicians.
The report offers in-depth assessment of the growth and other aspects of the Respiratory Devices Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Respiratory Devices Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Respiratory Devices Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry. This Research Study compares the markets of Pre COVID-19 and Post COVID-19 with the impact of COVID-19 on the regional economy.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 8.5% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Resmed, Philips Healthcare, Medtronic, Carefusion, GE Healthcare, Teijin Pharma, Drager Medical, Fisher & Paykel, MEKICS, Weinmann, Air Liquide, Maquet, SLE Ltd, Hamilton Medical, eVent Medical, DeVilbiss, Apex Medical |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 124 |
Customization Available | Yes, the report can be customized as per your needs |
What is the growth rate of Respiratory Devices Market?
The Respiratory Devices Market is growing at a CAGR of 8.5% over the next 5 years.
Who are the key players in Respiratory Devices Market?
Resmed, Philips Healthcare, Medtronic, Carefusion, GE Healthcare, Teijin Pharma, Drager Medical, Fisher & Paykel, MEKICS, Weinmann, Air Liquide, Maquet, SLE Ltd, Hamilton Medical, eVent Medical, DeVilbiss, Apex Medical
What are the significant types of Respiratory Devices Market?
Invasive, Non-invasive
What are the major end-use applications of Respiratory Devices Market?
Hospitals/Clinics, Household, Other (In army, Outer space, etc.)
On the basis of applications, Which segment is likely to hold the major share in the Respiratory Devices Market?
Hospital/Clinics segment to hold the largest share in Respiratory Devices market.
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SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
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