According to our new research study on “Respiratory Care Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Indication, and End User,” the 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 grow at a CAGR of 8.9% from 2021 to 2028. The growth of the global respiratory care devices market is majorly driven by increasing prevalence of infectious respiratory diseases, rapidly increasing cases of asthma and COPD, rising number of product launches and approvals, and growing R&D investment in respiratory care devices. However, the cutthroat competition among market players and unfavorable reimbursement scenarios are hampering market growth.
Infectious respiratory diseases are creating a rising burden on the healthcare system worldwide. Infectious respiratory disease can be induced due to several factors associated with immune deficiency. Most infectious respiratory diseases are spread from person to person through mucus and saliva and are caused by microorganisms that can infect the respiratory system. The severity of contagious respiratory diseases ranges from mild to severe. Infectious respiratory diseases consist of an exhaustive list of diseases, such as tuberculosis (TB), COVID-19, influenza, diphtheria, measles, pneumonia, pertussis, and respiratory syncytial virus (RSV), etc.
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Market leaders operating in the market have undertaken various organic and inorganic growth strategies. The generic injectables market majorly consists of players like Medtronic, Masimo, Thermo Fisher Scientific Inc., Dragerwerk AG & Co. KGaA, Invacare Corporation, Getinge AB, Nihon Kohden Corporation, Air Liquide, and Teleflex Incorporated. Koninklijke Philips N.V. and ResMed Inc., are the topmost two companies in the market.
The respiratory care devices market is segmented based on product, indication, end user, and geography.
Based on product, the market is segmented into therapeutic devices, monitoring devices, diagnostics devices, and consumables & accessories. The therapeutic devices segment is further sub segmented into positive airway pressure (PAP) devices, oxygen concentrators, ventilators, inhalers, nebulizers, humidifiers, and others. The positive airway pressure (PAP) devices segment is sub segmented into CPAP devices, APAP devices, and BiPAP devices. The oxygen concentrators segment is sub segmented into fixed oxygen concentrators and portable oxygen concentrators.
The inhalers segment is sub segmented into metered dose inhalers and dry powder inhalers. The monitoring devices segment is segmented into pulse oximeters, capnography, and gas analyzers. The diagnostics devices segment is sub segmented into spirometers, polysomnography devices, peak flow meters, and other diagnostic devices. The consumables & accessories segment is further subsegmented into masks, disposable resuscitators, tracheostomy tubes, breathing circuits, and other consumables & accessories.
Based on indication, the respiratory care devices market is segmented into chronic obstructive pulmonary disease (COPD), sleep apnea, asthma, infectious diseases, and others. Based on end user, the market is segmented into hospitals, home care, and ambulatory care. By geography, the respiratory care devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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