Therapeutic Respiratory Devices Market to Surpass 64.5 Billion by 2030 Drives Due to Surge in Respiratory Disorders
SkyQuest projects that the therapeutic respiratory devices market will attain a USD 64.5 billion value by 2030, with a CAGR of 4% over the forecast period (2023-2030). The global therapeutic respiratory devices market is driven by a surge in respiratory disorders, including COPD and asthma, due to environmental factors and an aging population. This increasing patient pool necessitates advanced therapeutic devices.
Westford USA, Oct. 18, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, ongoing innovations in respiratory device technology, such as smart inhalers and portable oxygen concentrators, fuel therapeutic respiratory devices market growth. These advancements improve treatment efficacy, patient compliance, and overall quality of life.
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- Pages – 157
- Tables – 155
- Figures – 78
The therapeutic respiratory devices market is driven by expanding global healthcare expenditure and increased awareness of respiratory health. This encourages the adoption of such devices, with demand expected to rise in response to heightened investment and awareness in the healthcare sector.
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Prominent Players in the Therapeutic Respiratory Devices Market
- Inogen, Inc.
- GlaxoSmithKline plc
- Novartis International AG
- AstraZeneca plc
- Boehringer Ingelheim GmbH
- Philips Healthcare
- ResMed Inc.
- Medtronic plc
- Smiths Medical
- Masimo Corporation
- Fisher & Paykel Healthcare Corporation Limited
- Drägerwerk AG & Co. KGaA
- Hamilton Medical AG
- Vyaire Medical Inc.
- Invacare Corporation
- DeVilbiss Healthcare LLC
- Drive DeVilbiss Healthcare
- Chart Industries Inc.
- Teleflex Incorporated
- Koninklijke Philips N.V.
Positive Airway Pressure Devices Segment is Expected to Grow the Market Due to Incidence of Sleep Apnea
Positive airway pressure devices segment is the fastest-growing therapeutic respiratory devices market due to the rising incidence of sleep apnea. These devices offer effective non-invasive treatment, driving their increased adoption in hospital and homecare settings, meeting the growing demand for better respiratory health management.
Asia Pacific is witnessing accelerated market expansion driven by a large patient pool, increasing healthcare infrastructure, and rising awareness about respiratory health. Growing urbanization, lifestyle changes, and a greater focus on healthcare investment contribute to the region’s robust therapeutic respiratory devices market growth.
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Nebulizers Segment is Expected to Dominate the Market Due to its Significance in Asthma and COPD
Nebulizers claim dominance in the therapeutic respiratory devices market due to their significance in asthma and COPD. Their ability to deliver medication directly to the respiratory tract ensures efficient and targeted therapy. Nebulizers are widely accepted across hospital and homecare settings, solidifying their position as a primary choice for respiratory treatment.
North America is dominant in the therapeutic respiratory devices market due to its advanced healthcare systems, high prevalence of respiratory disorders, and substantial R&D investments. A developed market landscape, strong regulatory frameworks and a well-established patient base solidify North America’s leadership in driving innovation and adoption of therapeutic respiratory devices.
A comprehensive analysis of the major players in the therapeutic respiratory devices market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in the Therapeutic Respiratory Devices Market
- In 2022, a partnership was unveiled between Boehringer Ingelheim and VisionHealth, introducing the Kara app. This innovative digital platform offers specialized inhalation assistance to individuals with asthma and chronic obstructive pulmonary diseases. The Kata app, as its known, serves as a targeted therapy aid, catering to the unique needs of patients grappling with chronic respiratory conditions.
- In 2022, ResMed bought HB Healthcare Safety, a provider of home-based medical devices for sleep and respiratory care. This enhances ResMed’s offerings for individuals seeking effective solutions for managing their sleep and respiratory health at home.
Key Questions Answered in Therapeutic Respiratory Devices Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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