Global Respiratory Care Devices Market Forecast to 2030
The global respiratory care devices market size is expected to reach USD 38.67 Billion in 2030 at a steady revenue CAGR of 8.5% during the forecast period, according to the latest analysis by Emergen Research. One of the primary factors driving revenue growth of the market is rising prevalence of preterm births. Every year, an estimated 15 million infants are born prematurely, that is more than one in every ten infants. Every year, around 1 million children die as a result of preterm delivery problems. Many survivors would be disabled for the rest of their lives, including learning difficulties and vision and hearing issues. The bulk of premature births occur in Africa and southern Asia; however, preterm birth is a worldwide issue. Premature newborns frequently experience Respiratory Distress Syndrome (RDS). It can cause newborns to require more oxygen and assistance with breathing. As a result, demand for effective respiratory care devices is expected to rise driven by increase in preterm births.
The most current market research report from Emergen Research focuses on the global market for Respiratory Care Devices and provides in-depth analysis of each of its major segments. The market size, revenue growth rate, industry statistics, revenue splits by regional markets, gross margins, production costs, and product portfolios are all included in reports on the worldwide Respiratory Care Devices market. The most significant micro- and macroeconomic elements, such as drivers, opportunities, trends, restrictions, challenges, demand and supply ratios, production and consumption patterns, stringent regulatory frameworks, and a host of other factors, are also discussed in the research.
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Competitive Terrain:
The global Respiratory Care Devices industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
ResMed, NIHON KOHDEN CORPORATION, Koninklijke Philips N.V., Masimo, Fisher & Paykel Healthcare Limited, Getinge AB, Medtronic plc, General Electric Company, VYAIRE, and Drägerwerk AG & Co. KGaA
Research Report on the Respiratory Care Devices Market Addresses the Following Key Questions:
• Who are the dominant players of the Respiratory Care Devices market?
• Which regional market is anticipated to have a high growth rate over the projected period?
• What consumer trends and demands are expected to influence the operations of the market players in the Respiratory Care Devices market?
• What are the key growth drivers and restraining factors of the Respiratory Care Devices market?
• What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
• What is the overall impact of the COVID-19 pandemic on the Respiratory Care Devices market and its key segments?
Market Overview:
The report bifurcates the Respiratory Care Devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
• Product Outlook (Revenue, USD Billion; 2019–2030)
o Therapeutic Respiratory Care Devices
o PAP Devices
1. CPAP Devices
2. APAP Devices
3. BiPAP Devices
o Ventilators
o ICU Ventilators
1. High-End Ventilators
2. Mid-End Ventilators
3. Basic Ventilators
o Portable Ventilators
o Nebulizers
o Humidifiers
0. Heated Humidifiers
1. Passover Humidifiers
o Oxygen Concentrators
0. Fixed Oxygen Concentrators
1. Portable Oxygen Concentrators
o Inhalers
0. Metered-Dose Inhalers (MDIs)
1. Dry Powder Inhalers (DPIs)
o Reusable Resuscitators
o Nitric Oxide Delivery Units
o Oxygen Hoods
o Monitoring Devices
o Pulse Oximeters
0. Pulse Oximeter Sensors
1. Pulse Oximeter Equipment
o Capnographs
o Gas Analyzers
o Diagnostic Respiratory Care Devices
1. Spirometers
2. Polysomnography Devices (PSG Devices)
3. Peak Flow Meters
4. Others
o Consumables & Accessories
o Masks
0. Reusable Masks
1. Disposable Masks
o Disposable Resuscitators
o Tracheostomy Tubes
o Breathing Circuits
o Nasal Cannulae
o Others
• Disease Indications Outlook (Revenue, USD Billion; 2019–2030)
o Chronic Obstructive Pulmonary Disease (COPD)
o Sleep Apnea
o Asthma
o Infectious Diseases
o Others
• End-use Outlook (Revenue, USD Billion; 2019–2030)
o Hospitals
o Home Care Settings
o Ambulatory Care Centers
Regional Landscape section of the Respiratory Care Devices report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
• On 16 August 2021, ResMed, which is a maker of connected sleep devices, revealed the AirSense 11, its newest CPAP machine version, which has a plethora of new features for treating obstructive sleep apnea. ResMed is launching the AirSense 11 initially in the U.S., with ambitions to expand. It is said to be compatible with all of the company's existing masks.
• The therapeutic respiratory care devices segment is expected to account for largest revenue share during the forecast period, owing to rising government healthcare spending, increased use of various therapeutic devices in home care settings, rapid urbanization, and rising levels of air pollution. The Ontario government, for example, is supporting a USD 2.9 million investment by five local enterprises to increase domestic medical supply manufacture and support the development of indigenous solutions to help reduce the spread of COVID-19. Through the Ontario Together Fund (OTF), the province is providing more than USD 1.54 million.
• The Chronic Obstructive Pulmonary Disease (COPD) segment is expected to account for largest revenue share during the forecast period, which is attributed to increased prevalence of smoking, tobacco smoke exposure, adverse climatic conditions and a high frequency of lower respiratory illnesses. For example, 12.5% of adults in the U.S. (an estimated 30.8 million individuals) smoked cigarettes in 2020: 14.1% of men and 11% of women. Over 7 million deaths are due to direct tobacco use, whereas approximately 1.2 million are caused by nonsmokers being exposed to second-hand smoke. Over 80% of the world's 1.3 billion smokers are in low- and middle-income countries. Rising prevalence of smoking and environmental conditions is driving revenue growth of the segment.
• The market in Europe is expected to register a steady revenue CAGR during the forecast period, owing to increased investment and initiatives by major market leaders. On 23 November 2022 for example, LifeArc funded up to USD 12.2 million in up to five cooperative studies to repurpose existing drugs and chemicals as innovative therapies for bronchiectasis and cystic fibrosis. The collaboration opportunity is the first significant funding opportunity announced as part of LifeArc's new USD 122.9 million Chronic Respiratory Infection Translational Challenge, which seeks to accelerate scientific innovation for individuals living with bronchiectasis and cystic fibrosis.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Respiratory Care Devices market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
• Data and information related to the consumption rate in each region
• Estimated increase in the consumption rate
• Proposed growth of the market share of each region
• Geographical contribution to market revenue
• Expected growth rate of the regional markets
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