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

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
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 347
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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.

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Respiratory Care Devices Market: Strategic Insights

respiratory-care-devices-market
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
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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

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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

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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
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Indication, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What is meant by the respiratory care devices market?

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..

What are the driving factors for the respiratory care devices market across the globe?

Increasing prevalence of infectious respiratory diseases is one of the most significant factors responsible for the overall market growth.

Which segment led the respiratory care devices market?

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.

Which indication segment held the largest revenue (US$ Mn) in the respiratory care devices market?

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.

Who are the key players in the respiratory care devices market?

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

What is the regional market scenario of the 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  

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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