The global respiratory care devices market size was estimated to be USD 21.93 billion in 2023 and is expected to reach USD 50.41 billion by 2034 with a CAGR of 7.86% during the forecast period 2024-2034. The market will develop as a result of the prevalence of respiratory diseases, technological advancements, increased healthcare expenditure and awareness, an increase in home care and portable devices, and government initiatives and support.
The market for respiratory care equipment is significantly driven by the rising incidence of respiratory conditions such as asthma, sleep apnea, and chronic obstructive pulmonary disease (COPD). There is a greater need for efficient respiratory care equipment as a result of the illnesses' rising worldwide impact. For instance, the FDA approved Philips Respironics' DreamMapper AirMini 2 auto-adjusting continuous positive airway pressure (CPAP) therapy equipment in December 2023 for the treatment of sleep apnea.
By product type, the therapeutic devices segment accounted for the highest revenue-grossing segment in the global respiratory care devices market in 2023 owing to the increasing prevalence of respiratory conditions, a growing aging population, and advancements in therapeutic technologies, which led to heightened demand for positive airway pressure (PAP) devices, ventilators, and nebulizers. For instance, in January 2024, ResMed Inc. and Propeller Health announced a partnership to better treat asthma through the integration of ResMed's Smart Asthma Inhaler with Propeller's digital health platform. Additionally, the monitoring devices segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on proactive healthcare management, raising awareness of the importance of continuous monitoring in respiratory care, and ongoing technological innovations that enhance the precision and accessibility of devices such as pulse oximeters and capnography.
By disease indication, the chronic obstructive pulmonary disease (COPD) segment accounted for the highest revenue-grossing segment in the global respiratory care devices market in 2023 owing to the escalating prevalence of COPD worldwide, the aging population, and the increasing awareness about the importance of early diagnosis and effective management of this chronic respiratory condition. For instance, Medtronic plc received CE Mark clearance in January 2024 for their Puritan Bennett 590T ventilator, which is intended for both invasive and non-invasive mechanical ventilation. Additionally, the sleep apnea segment is predicted to grow at the fastest CAGR during the forecast period owing to the heightened awareness of sleep-related disorders, the increasing prevalence of sleep apnea, and the growing recognition of its impact on overall health.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global respiratory care devices market in 2023 owing to the increasing prevalence of acute respiratory conditions requiring specialized care, the rising number of critical care admissions, and the consistent adoption of advanced respiratory care technologies within hospital settings. For instance, Fisher & Paykel Healthcare received FDA authorization in December 2023 for treating complicated sleep apnea with their SleepStyleTM Auto BiPAP equipment that has an integrated humidifier. Additionally, the home care settings segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for patient-centric care, advancements in portable and user-friendly respiratory care devices, and the growing aging population seeking the convenience of managing respiratory conditions in the comfort of their homes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, increased prevalence of respiratory diseases, high adoption rates of advanced medical technologies, and robust research and development activities in respiratory care. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of respiratory diseases, expanding healthcare infrastructure, rising awareness about respiratory health, and a growing aging population. For instance, Masimo Corporation and Philips announced a cooperation in November 2023 to include Masimo's SpO2 technology into Philips patient monitoring systems.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
The market for respiratory care equipment is significantly driven by the rising incidence of respiratory conditions such as asthma, sleep apnea, and chronic obstructive pulmonary disease (COPD). There is a greater need for efficient respiratory care equipment as a result of the illnesses' rising worldwide impact. For instance, the FDA approved Philips Respironics' DreamMapper AirMini 2 auto-adjusting continuous positive airway pressure (CPAP) therapy equipment in December 2023 for the treatment of sleep apnea.
By product type, the therapeutic devices segment accounted for the highest revenue-grossing segment in the global respiratory care devices market in 2023 owing to the increasing prevalence of respiratory conditions, a growing aging population, and advancements in therapeutic technologies, which led to heightened demand for positive airway pressure (PAP) devices, ventilators, and nebulizers. For instance, in January 2024, ResMed Inc. and Propeller Health announced a partnership to better treat asthma through the integration of ResMed's Smart Asthma Inhaler with Propeller's digital health platform. Additionally, the monitoring devices segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on proactive healthcare management, raising awareness of the importance of continuous monitoring in respiratory care, and ongoing technological innovations that enhance the precision and accessibility of devices such as pulse oximeters and capnography.
By disease indication, the chronic obstructive pulmonary disease (COPD) segment accounted for the highest revenue-grossing segment in the global respiratory care devices market in 2023 owing to the escalating prevalence of COPD worldwide, the aging population, and the increasing awareness about the importance of early diagnosis and effective management of this chronic respiratory condition. For instance, Medtronic plc received CE Mark clearance in January 2024 for their Puritan Bennett 590T ventilator, which is intended for both invasive and non-invasive mechanical ventilation. Additionally, the sleep apnea segment is predicted to grow at the fastest CAGR during the forecast period owing to the heightened awareness of sleep-related disorders, the increasing prevalence of sleep apnea, and the growing recognition of its impact on overall health.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global respiratory care devices market in 2023 owing to the increasing prevalence of acute respiratory conditions requiring specialized care, the rising number of critical care admissions, and the consistent adoption of advanced respiratory care technologies within hospital settings. For instance, Fisher & Paykel Healthcare received FDA authorization in December 2023 for treating complicated sleep apnea with their SleepStyleTM Auto BiPAP equipment that has an integrated humidifier. Additionally, the home care settings segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for patient-centric care, advancements in portable and user-friendly respiratory care devices, and the growing aging population seeking the convenience of managing respiratory conditions in the comfort of their homes.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, increased prevalence of respiratory diseases, high adoption rates of advanced medical technologies, and robust research and development activities in respiratory care. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of respiratory diseases, expanding healthcare infrastructure, rising awareness about respiratory health, and a growing aging population. For instance, Masimo Corporation and Philips announced a cooperation in November 2023 to include Masimo's SpO2 technology into Philips patient monitoring systems.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product Type, Disease Indication, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Respiratory Care Devices Market Report 2023 - 2034
Respiratory Care Devices Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Therapeutic Devices
- Monitoring Devices
- Consumables and Accessories
Respiratory Care Devices Market Analysis & Forecast by Disease Indication 2023 - 2034 (Revenue USD Bn)
- Chronic Obstructive Pulmonary Disease (COPD)
- Asthma
- Sleep Apnea
- Infectious Diseases
- Others
Respiratory Care Devices Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Home Care Settings
- Ambulatory Care Centers
- Others
Respiratory Care Devices Market Analysis & Forecast by Region 2023 - 2034 (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 Care Devices Market: Product Type Estimates & Trend Analysis
8. Respiratory Care Devices Market: Disease Indication Estimates & Trend Analysis
9. Respiratory Care Devices Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Respiratory Care Devices Market
12. Europe Global Respiratory Care Devices Market
13. Asia Pacific Global Respiratory Care Devices Market
14. Latin America Global Respiratory Care Devices Market
15. MEA Global Respiratory Care Devices Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Philips Respironics (Philips Healthcare)
- ResMed Inc.
- Medtronic plc
- Fisher & Paykel Healthcare
- Masimo Corporation
- Hamilton Medical AG
- Smiths Medical
- Vyaire Medical Inc.
- Drägerwerk AG & Co. KGaA
- GE Healthcare
- Teleflex Incorporated
- Invacare Corporation
- Air Liquide Medical Systems
- Chart Industries Inc.
- Becton
- Dickinson and Company (BD).
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 21.93 Billion |
| Forecasted Market Value ( USD | $ 50.41 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
