The global respiratory devices market size was estimated to be USD 26.18 billion in 2023 and is expected to reach at USD 52.0 billion by 2033 with a CAGR of 6.43% during the forecast period 2023-2033. Rising prevalence of respiratory diseases, growing geriatric population, increasing demand for home care therapeutic devices, surge in number of patients suffering from respiratory disorders, rising demand for respiratory dives for early diagnosis & monitoring, growing investment in research & development activities, increasing initiatives by government & private organizations, and surge in introduction of innovative respiratory devices for home healthcare are the key factors supporting the market growth.
Surge in introduction of innovative respiratory devices for home healthcare is predicted to boost the market growth during the forecast period. For instance, in October 2021, Movair, formerly known as International Biophysics Corporation, has revealed the U.S. launch of Luisa, an advanced ventilator designed for versatile applications in homes, hospitals, and institutions. The ventilator is suitable for both invasive and non-invasive ventilation, making it ideal for portable use as well.
By Product, Therapeutic Devices was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the increasing demand for oxygen concentrators, rising prevalence of respiratory diseases, growing geriatric population, surge in technological advancements in respiratory devices, and rise in introduction of innovative products by leading market players. For instance, in July 2022, OMRON Healthcare has unveiled its newest oxygen delivery system, the OMRON medical molecular sieve-based oxygen concentrator. This portable device employs Pressure Swing Adsorption (PSA) technology to deliver oxygen at a high-purity level (>90%) and a flow rate of 5 liters per minute. It efficiently filters out unwanted molecules, such as nitrogen and argon, from the surrounding air. Additionally, Monitoring devices is predicted to grow at fastest CAGR during the forecast period owing to the rising usage of capnography in respiratory disorder treatments, increasing technological advancements, and growing launch of new products.
By Technology, HEPA filter technology was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the increasing demand for particle removal & retention in various therapeutic respiratory devices, growing prevalence of respiratory disorders, rising technological advancements, and surge in development of new products. For instance, in May 2022, The DC365 Small Surgical N95 Respirator, developed by Honeywell, incorporates a HEPA P100 filter, providing crucial protection to frontline workers. Additionally, Hollow fiber filtration is predicted to grow at fastest CAGR during the forecast period due to rising prevalence of chronic diseases, increasing research & development activities, and growing technological advancements.
By Disease Indications, COPD was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the rising prevalence of smoking & respiratory disorders, increasing partnerships within market players for the development of next-generation respiratory inhalers. For instance, in February 2022, Honeywell has disclosed a business collaboration with AstraZeneca to collaborate on the development and introduction of advanced respiratory inhalers for treating asthma and chronic obstructive pulmonary disease (COPD). These inhalers will utilize near-zero global warming potential (GWP) propellants. Additionally, Asthma is predicted to grow at fastest CAGR during the forecast period owing to the increasing incidences of asthma and growing development of technologically advanced products.
By End-user, Hospitals was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the increasing partnership & collaborations within market players, rising healthcare infrastructure, and growing initiatives by market players. For instance, in January 2020, Masimo Corporation has successfully acquired NantHealth's Connected Care Business. This acquisition will enable Masimo to enhance hospitals' ability to deliver continuous care through the implementation of connectivity, automation, and cutting-edge non-invasive monitoring technologies. Additionally, Home Care is predicted to grow at fastest CAGR during the forecast period owing to the rising preference for remote monitoring and growing technological advancements.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in favourable reimbursement in outpatient treatments, growing prevalence of disorders such as asthma & COPD, rising technological advancements, increasing demand for respiratory devices, and rise in launch of new products. For instance, in June 2022, CAIRE has introduced a portable oxygen concentrator called LifeStyle in the U.S., with the aim of significantly enhancing the quality of life for oxygen users nationwide. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing healthcare expenditure, surge in technological advancements, growing healthcare infrastructure, rising launch of innovative products by major market players. For instance, in May 2022, Alkem has introduced Innohaler, a DPI (Dry Powder Inhaler) device, to improve the lives of Asthma and COPD patients, addressing the existing gaps in Asthma care in India.
Surge in introduction of innovative respiratory devices for home healthcare is predicted to boost the market growth during the forecast period. For instance, in October 2021, Movair, formerly known as International Biophysics Corporation, has revealed the U.S. launch of Luisa, an advanced ventilator designed for versatile applications in homes, hospitals, and institutions. The ventilator is suitable for both invasive and non-invasive ventilation, making it ideal for portable use as well.
By Product, Therapeutic Devices was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the increasing demand for oxygen concentrators, rising prevalence of respiratory diseases, growing geriatric population, surge in technological advancements in respiratory devices, and rise in introduction of innovative products by leading market players. For instance, in July 2022, OMRON Healthcare has unveiled its newest oxygen delivery system, the OMRON medical molecular sieve-based oxygen concentrator. This portable device employs Pressure Swing Adsorption (PSA) technology to deliver oxygen at a high-purity level (>90%) and a flow rate of 5 liters per minute. It efficiently filters out unwanted molecules, such as nitrogen and argon, from the surrounding air. Additionally, Monitoring devices is predicted to grow at fastest CAGR during the forecast period owing to the rising usage of capnography in respiratory disorder treatments, increasing technological advancements, and growing launch of new products.
By Technology, HEPA filter technology was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the increasing demand for particle removal & retention in various therapeutic respiratory devices, growing prevalence of respiratory disorders, rising technological advancements, and surge in development of new products. For instance, in May 2022, The DC365 Small Surgical N95 Respirator, developed by Honeywell, incorporates a HEPA P100 filter, providing crucial protection to frontline workers. Additionally, Hollow fiber filtration is predicted to grow at fastest CAGR during the forecast period due to rising prevalence of chronic diseases, increasing research & development activities, and growing technological advancements.
By Disease Indications, COPD was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the rising prevalence of smoking & respiratory disorders, increasing partnerships within market players for the development of next-generation respiratory inhalers. For instance, in February 2022, Honeywell has disclosed a business collaboration with AstraZeneca to collaborate on the development and introduction of advanced respiratory inhalers for treating asthma and chronic obstructive pulmonary disease (COPD). These inhalers will utilize near-zero global warming potential (GWP) propellants. Additionally, Asthma is predicted to grow at fastest CAGR during the forecast period owing to the increasing incidences of asthma and growing development of technologically advanced products.
By End-user, Hospitals was the highest revenue-grossing segment in the global respiratory devices market in 2022 owing to the increasing partnership & collaborations within market players, rising healthcare infrastructure, and growing initiatives by market players. For instance, in January 2020, Masimo Corporation has successfully acquired NantHealth's Connected Care Business. This acquisition will enable Masimo to enhance hospitals' ability to deliver continuous care through the implementation of connectivity, automation, and cutting-edge non-invasive monitoring technologies. Additionally, Home Care is predicted to grow at fastest CAGR during the forecast period owing to the rising preference for remote monitoring and growing technological advancements.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in favourable reimbursement in outpatient treatments, growing prevalence of disorders such as asthma & COPD, rising technological advancements, increasing demand for respiratory devices, and rise in launch of new products. For instance, in June 2022, CAIRE has introduced a portable oxygen concentrator called LifeStyle in the U.S., with the aim of significantly enhancing the quality of life for oxygen users nationwide. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing healthcare expenditure, surge in technological advancements, growing healthcare infrastructure, rising launch of innovative products by major market players. For instance, in May 2022, Alkem has introduced Innohaler, a DPI (Dry Powder Inhaler) device, to improve the lives of Asthma and COPD patients, addressing the existing gaps in Asthma care in India.
Segmentation: Respiratory Devices Market Report 2022 - 2033
Respiratory Devices Market Analysis & Forecast by Product 2022 - 2033 (Revenue USD Bn)
Therapeutic Devices
- Positive Airway Pressure Devices
- Ventilators
- Oxygen Concentrators
- Inhalers
- Nebulizers
- Resuscitators
- Humidifiers
Monitoring Devices
- Pulse Oximeters
- Gas Analyzers
- Capnographs
Diagnostic Respiratory Care Devices
- Polysomnographs
- Spirometers
- Peak Flow Meters
- Consumables & Disposables
Respiratory Devices Market Analysis & Forecast by Technology 2022 - 2033 (Revenue USD Bn)
- HEPA Filter Technology
- Electrostatic Filtration
- Microsphere Separation
- Hollow Fiber Filtration
Respiratory Devices Market Analysis & Forecast by Disease Indications 2022 - 2033 (Revenue USD Bn)
- Sleep Apnea
- Asthma
- COPD
- Infectious Diseases
- Others
Respiratory Devices Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)
- Home Care
- Ambulatory Care
- Hospitals
Respiratory Devices Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Respiratory Devices Market: Product Estimates & Trend Analysis
8. Respiratory Devices Market: Technology Estimates & Trend Analysis
9. Respiratory Devices Market: Disease Indication Estimates & Trend Analysis
10. Respiratory Devices Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Respiratory Devices Market
13. Europe Global Respiratory Devices Market
14. Asia Pacific Global Respiratory Devices Market
15. Latin America Global Respiratory Devices Market
16. MEA Global Respiratory Devices Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Medtronic
- GE Healthcare
- Linde
- ResMed
- Mindray
- Chart Industries
- DeVilbiss Healthcare
- Koninklijke Philips N.V.
- Invacare Corporation
- ICU Medical (Smiths Medical)
- Drägerwerk AG & Co. KGaA
- Fisher & Paykel Healthcare
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 26.18 Billion |
| Forecasted Market Value ( USD | $ 52 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
