Respiratory Care Devices Market Size and share Analysis | industry statistics
Respiratory Care Devices Market Overview :
Respiratory
care devices are medical devices designed to diagnose, treat, and manage
respiratory disorders. These devices are essential for patients with conditions
such as asthma, chronic obstructive pulmonary disease (COPD), and sleep apnea.
The global respiratory care devices market is driven by various factors,
including the increasing prevalence of respiratory diseases, advancements in
medical technology, and growing healthcare expenditure.
Global respiratory care devices market size is estimated to
reach over USD 39,379.63 Million by 2031 from a value of USD 23,556.54 Million
in 2023, growing at a CAGR of 6.8% from 2024 to 2031.
These devices support patients with breathing difficulties
caused by chronic conditions like asthma, chronic obstructive pulmonary
disease, sleep apnea, or acute illnesses such as respiratory infections or
pneumonia.
Drivers :
Several factors are driving the growth of the respiratory
care devices market:
·
Increasing Prevalence of Respiratory Diseases:
The rising incidence of respiratory diseases, such as asthma, COPD, and
pneumonia, is a major driver of market growth.
·
Aging Population: The aging population is more
susceptible to respiratory disorders, leading to increased demand for
respiratory care devices.
·
Technological Advancements: Continuous innovation
in respiratory care technologies, such as non-invasive ventilation and digital
health solutions, is expanding the market's potential.
·
Rising Healthcare Expenditure: Increased
healthcare spending, particularly in emerging economies, is driving the adoption
of advanced respiratory care devices.
·
Increasing cases of respiratory diseases such as
chronic obstructive pulmonary disease, asthma, and others are driving the
respiratory care devices market demand.
·
Asthma is a respiratory condition in which a
person's airways become inflamed, narrow, and swell and produce extra mucus,
which makes it difficult to breathe. Respiratory care devices such as
nebulizers, dry-powder inhalers, and others are used in the treatment of
asthma.
Restraints :
Despite the significant growth potential, the respiratory
care devices market faces certain challenges:
·
High Cost of Devices: Advanced respiratory care
devices can be expensive, limiting their accessibility, especially in
low-income countries.
·
Complex Regulatory Environment: Stringent
regulatory requirements for medical devices can delay product launches and
increase costs.
·
Reimbursement Challenges: Reimbursement
policies and coverage for respiratory care devices can vary across different
healthcare systems, impacting market growth.
·
Government bodies like the European Commission
classify these devices into different classes and according to that the
manufacturers should adhere to rules and regulations.
·
According to the European Union, the Class IIa
and Class IIb ventilators involve the assessment of the full manufacturer’s
quality management system. They also require an on-site audit and regular
surveillance audits at least annually.
Opportunities :
The respiratory care devices market presents numerous
opportunities for growth and innovation:
·
Development of Portable and User-Friendly
Devices: The development of portable and user-friendly respiratory care devices
can improve patient compliance and quality of life.
·
Integration of Digital Health Technologies:
Integrating digital health technologies, such as remote monitoring and
telemedicine, can enhance patient care and reduce healthcare costs.
·
Expansion into Emerging Markets: Emerging markets,
particularly in Asia-Pacific, offer significant growth potential for
respiratory care devices.
·
Focus on Home Care: The increasing shift towards
home-based care is driving the demand for home-use respiratory care devices.
·
In 2024, according to the International Journal
of Engineering Research and Science & Technology, smart inhalers have a
button mechanism that connects with a digital platform. The button records the
date, time, and drug dose every time the inhaler is used. It is especially helpful
for treating chronic obstructive pulmonary disease when taking medicine
regularly is essential for good management.
·
These smart inhalers give users real-time
feedback and reminders to take their medicine as directed in the treatment of
chronic obstructive pulmonary disease.
Key Players :
Several key players are driving the respiratory care devices
market:
·
ResMed
·
Philips
·
Fisher & Paykel Healthcare
·
Medtronic
·
Teijin Pharma
Segmentation :
The respiratory care devices market can be segmented based
on various factors:
By Product Type:
·
Oxygen Therapy Devices
·
Ventilation Devices
·
Inhalation Therapy Devices
·
Sleep Apnea Therapy Devices
By End-User:
·
Hospitals
·
Home Care Settings
·
Clinics
By Geography:
·
North America
·
Europe
·
Asia-Pacific
·
Rest of the World
Regional Analysis
·
North America and Europe dominate the global
respiratory care devices market due to the presence of well-established
healthcare infrastructure, advanced medical technologies, and a high prevalence
of respiratory diseases. However, the Asia-Pacific region is emerging as a
significant market, driven by rapid economic growth, increasing healthcare
expenditure, and a growing elderly population.
·
In 2023, North America accounted for the highest
market share at 39.85% and was valued at USD 9,387.28 Million and is expected
to reach USD 15,716.41 Million in 2031. In North America, the U.S. accounted
for the highest market share of 67.92% during the base year of 2023.
·
2024,
according to the American Lung Association, more than 35 million people living
in the U.S. live with a chronic lung disease like asthma and chronic
obstructive pulmonary disease. Asthma affects 26.8 million Americans, including
4.5 million children, and accounts for millions of emergency department visits
each year.
Recent Developments :
·
Advancements in Non-Invasive Ventilation:
Non-invasive ventilation (NIV) technologies are becoming increasingly
sophisticated, offering improved patient outcomes and comfort.
·
Integration of AI and Machine Learning: AI and
ML are being used to develop intelligent respiratory care devices that can
adapt to individual patient needs.
·
Focus on Patient-Centric Design: Respiratory
care devices are being designed with patient comfort and convenience in mind,
leading to improved patient adherence.
·
In 2024, Modivcare partnered with Tenovi to
deliver Adherium’s Hailie® Smart inhalers, for enhanced care of patients with
chronic respiratory diseases. These smart inhalers are respiratory care devices
that directly address the medication adherence issue by tracking. They also
reduce exacerbations in asthma and chronic obstructive pulmonary disease
·
In 2024, Getinge launched the Servo-c mechanical
ventilator in India. Servo-c is a respiratory care device that offers
functionalities for personalized respiratory treatments and smart fleet
management, eliminating the need for proprietary disposables. It features CO2
monitoring and Servo Compass for insights into lung mechanics and gas exchange,
driving innovation in the respiratory care devices market.
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