Respiratory Care Devices Market Size & Trends | Report 2022, 28

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Respiratory Care Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product {Therapeutic Devices [Positive Airway Pressure (PAP) Devices (CPAP Devices, APAP Devices, and BiPAP Devices), Oxygen Concentrators (Fixed Oxygen Concentrators and Portable Oxygen Concentrators), Ventilators, Inhalers (Metered Dose Inhalers and Dry Powder Inhalers), Nebulizers, Humidifiers, and Others], Monitoring Devices (Pulse Oximeters, Capnography, and Gas Analyzers), Diagnostic Devices (Spirometers, Polysomnography Devices, Peak Flow Meters, and Other Diagnostic Devices), and Consumables & Accessories (Masks, Disposable Resuscitators, Tracheostomy Tubes, Breathing Circuits, and Other Consumables & Accessories)}, Indication [Chronic Obstructive Pulmonary Diseases (COPD), Sleep Apnea, Asthma, Infectious Diseases, and Others], and End User (Hospitals, Home Care, and Ambulatory Care)

Publication Month: May 2022 | Report Code: TIPHE100001120 | No. of Pages: 347 | Category: Medical Device | Status: Published

The respiratory care devices market is expected to grow from US$ 18,114.31 million in 2021 to US$ 32,761.82 million by 2028; it is estimated to register a CAGR of 8.9% from 2021 to 2028.

Respiratory care devices are the medical instruments used for diagnosis, monitoring, and care of patients suffering from various respiratory diseases. Major devices such as oxygen concentrators, ventilators, inhalers, nebulizers, spirometers, and positive airway pressure (PAP) are primarily used to diagnose, treat, and monitor respiratory diseases. The introduction of innovative product launches, high adoption of cutting-edge technology, and integration of digital & sensor-based technologies for creating a smart portfolio will further aid the respiratory care devices market growth.

The report provides insights and in-depth analysis of the respiratory care devices market, emphasizing various parameters such as market trends, technological advancements, and market dynamics. It also provides the competitive landscape analysis of leading market players and the impact of the COVID-19 pandemic on the respiratory care devices market across all major regions. The COVID-19 pandemic affected three main aspects of the global economy – manufacturing, supply chain, and financial markets. However, the impact of the COVID-19 pandemic on the respiratory care devices market was positive. During the pandemic, the proportionate use of respiratory care devices came into the limelight and gained traction. The coordination between organizations and countries unfolded the overall potential of all regions. For instance, South Africa could not source a sufficient number of ventilators from global markets to meet local demand. In June 2020, the Minister of Trade, Industry, and Competition initiated the National Ventilator Project (NVP) to tackle the rising ventilator demand. Under the guidance of the Cabinet and the National Command Council, the NVP looked to engage local manufacturers to produce fit-for-purpose and noninvasive ventilators. This effort is overseen by the Department of Trade, Industry, and Competition (DTIC) and implemented by the South African Radio Astronomy Observatory (SARAO). As a result, astronomy capacity helped manufacture 20,000 ventilators by November 2020 at the cost of US$ 900 per device.

Strategic Insights

Report Coverage - Respiratory Care Devices Market
Report CoverageDetails
Market Size Value inUS$ 18,114.31 Million in 2021
Market Size Value byUS$ 32,761.82 Million by 2028
Growth rateCAGR of 8.9% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
No. of Pages347
No. of Tables274
No. of Charts & Figures105
Historical data availableYes
Segments coveredProduct, Indication, and End User
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Based on region, the respiratory care devices market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America.

Lucrative Regions for Respiratory Care Devices Market

Lucrative Regions for Respiratory Care Devices Market

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Market Insights
Growing R&D Investment in Respiratory Care Devices Drives Respiratory Care Devices Market

Medical device research and development are considered highly capital-intensive and fraught with enormous risks. R&D is an essential step, after which the best ideas are converted into the best products. A thriving R&D ecosystem can become the perfect nurturing ground for developing globally competitive and top-of-the-line products, from conceiving an ideal product design to new product development, prototyping, validation, and testing. To produce innovative products, MedTech companies are investing a huge part of revenue in R&D. For instance:

  • In 2021, ResMed invested US$ 225.3 million in research and development activities, representing 7.0% of their net revenues from 2021 and 12% from 2020. With a continued focus on developing and commercializing new, innovative products and solutions, the company aims to improve patient outcomes, help physicians and providers better manage chronic disease, and lower healthcare costs.
  • In May 2021, Sanichi Technology Bhd completed its research and development phase for medical-grade mechanical air ventilators, slated to be distributed to local and overseas healthcare markets.

Further, the medical device industry is poised for steady growth. The rising need for respiratory care devices reflects the increasing demand for innovative devices such as wearables and services (health data). Respiratory care device manufacturers are racing to meet the demand in ventilator production to potentially avoid the looming shortage and the possible need to ration respiratory devices. For instance, Zoll Medical announced producing 10,000 ventilators per month in response to the COVID-19 pandemic. This represents a 25-fold increase in its production volume, and it is prepared to expand its supply base as necessary. Other efforts include a collaboration between device maker Ventec Life Systems and GM to develop its ventilator production. ResMed announced its goal to double or triple ventilator output and scale-up ventilation mask production more than 10-fold.

Product-Based Insights

Based on product, the respiratory care devices market is segmented into therapeutic devices, monitoring devices, diagnostics devices, and consumables & accessories. In 2022, the therapeutic devices segment accounted for the largest market share. It is expected to be one of the fastest-growing segments. The market position of this segment has increased due to the major use of PAP devices, ventilators, and oxygen concentrators.

Respiratory Care Devices Market, by Product – 2022 and 2028

Respiratory Care Devices Market, by Product – 2022 and 2028

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Indication-Based Insights

Based on indication, the respiratory care devices market is segmented into chronic obstructive pulmonary disease (COPD), sleep apnea, asthma, infectious diseases, and others. The COPD segment held the largest market share, whereas the asthma segment is anticipated to be the fastest-growing segment during the forecast period. With the increasing prevalence of chronic obstructive pulmonary disease (COPD) caused by air pollution, passive smoking, and several other factors, both segments are expected to surge during the forecast period.

End User-Based Insights

Based on end user, the respiratory care devices market is segmented into hospitals, home care, and ambulatory care. The hospitals segment held the largest respiratory care devices market share, whereas the home care segment is expected to be the fastest-growing one.

The respiratory care devices market players are adopting organic strategies such as product launch and expansion to expand their footprint and product portfolio globally.

Company Profiles

  • Koninklijke Philips N.V.
  • ResMed Inc.
  • Medtronic
  • Masimo
  • THERMO FISHER SCIENTIFIC INC.
  • Dragerwerk AG & Co. KGaA
  • Invacare Corporation
  • Getinge AB.
  • Nihon Kohden Corporation
  • Air Liquide
  • Teleflex Incorporated

Frequently Asked Questions

Respiratory care devices are those medical instruments which are used for the diagnosis, monitoring and care of patients who are suffering from various respiratory diseases. Major devices such as oxygen concentrator, ventilators, inhalers, nebulizers, spirometers, positive airway pressure (PAP) are primarily used for respiratory disease’s diagnostic, therapeutic, and monitoring.. Introduction of innovative product launches and high adoption of cutting edge technology and integration of digital and sensor based technologies for creating a smart, portfolio, and connected respiratory care devices will further aid the growth of the market..
Increasing prevalence of infectious respiratory diseases is one of the most significant factors responsible for the overall market growth.
Based on product, therapeutic devices took the forefront leaders in the worldwide market by accounting largest share in 2020 and is expected to continue to do so till the forecast period.
The chronic obstructive pulmonary diseases (COPD) segment dominated the global respiratory care diseases market and accounted for the largest revenue of US $7,232.37 million in 2021.
Koninklijke Philips N.V., ResMed Inc, Medtronic, Masimo, THERMO FISHER SCIENTIFIC INC., Dragerwerk AG & Co. KGaA, Invacare Corporation, Getinge AB., Nihon Kohden Corporation, Air Liquide, Teleflex Incorporated, are among the leading companies operating in the global respiratory care devices market
Global respiratory care devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In North America, the U.S. is the largest market for generic injectables market. The US is estimated to hold the largest share in the generic injectables market during the forecast period. The presence of top players and favorable regulations related to product approvals coupled with commercializing new products are the contributing factors for the regional growth. Additionally, the increasing number of technological advancements is the key factor responsible for the Asia-Pacific regional growth for respiratory care devices accounting fastest growth of the region during the coming years.

The List of Companies - Respiratory Care Devices Market

  1. Koninklijke Philips N.V.
  2. ResMed Inc
  3. Medtronic
  4. Masimo
  5. THERMO FISHER SCIENTIFIC INC.
  6. Dragerwerk AG & Co. KGaA
  7. Invacare Corporation
  8. Getinge AB.
  9. Nihon Kohden Corporation
  10. Air Liquide
  11. Teleflex Incorporated  
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the respiratory care devices market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global respiratory care devices market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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