Respiratory devices are medical devices that are used to assist a patient suffering from breathing problems. These devices are used in the management and treatment of disorders such as fibrosis, asthma, Chronic Obstructive Pulmonary Disease (COPD), and Acute Respiratory Distress Syndrome (ARDS). There are a variety of diseases that benefit from these advanced tools such as oxygen concentrators, nebulizers, ventilators, etc. The respiratory device assists with the removal of mucus from the airways and improves pulmonary functions.
The global respiratory devices market is estimated to be valued at US$ 21,725.0 million in 2022 and is expected to exhibit a CAGR of 9.1% during the forecast period (2022-2030).
Figure 1. Global Respiratory Devices Market Share (%), by Product Type, 2022
Global Respiratory Devices Market - Drivers
Increasing adoption of inorganic growth strategies such as product launches by key market players is expected to drive the global respiratory devices market growth over the forecast period. For instance, in January 2020, ICU Medical, Inc., a medical device company, announced that it had launched Portex, a Polyvinyl Chloride (PVC) tracheostomy tube, which is used to facilitate the administration of positive pressure ventilation to provide a patent airway in patients prone to upper airway obstruction, and to provide access to the lower respiratory tract for airway clearance.
|Base Year:||2021||Market Size in 2022:||US$ 21,725.0 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||9.1%||2030 Value Projection:||US$ 43,627.3 Mn|
Masimo, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, ResMed, Hamilton Medical, Medtronic, Koninklijke Philips N.V., ICU Medical, Inc., General Electric Company, Dragerwerk AG & Co. KGaA, Inogen, Inc., TytoCare Ltd., Belluscura, Mitocon Biomed, VYAIRE, Medline Industries, Inc., OMRON Corporation, TNI medical AG, and Xplore Health Technologies Pvt. Ltd.
|Restraints & Challenges:||
Figure 2. Global Respiratory Devices Market Value (US$ Million), by Region, 2022
Global Respiratory Devices Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.
COVID-19 can affect the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.
However, the COVID-19 pandemic had a positive impact on the global respiratory devices market. For instance, in April 2020, according to the data published in WILEY Journal, Randomized Controlled Trials (RCTs) were studied to compare the protective effect of medical masks to N95 respirators in healthcare workers. The conclusion of the study was, the medical masks and N95 respirators provide similar protection from COVID-19 in healthcare workers during non–aerosol-generating care.
Global Respiratory Devices Market: Key Developments
Increasing adoption of inorganic growth strategies such as product launches by key market players is expected to drive the global respiratory devices market growth over the forecast period. For instance, in November 2022, Xplore Health Technologies Pvt. Ltd., a healthcare technology company, announced that it had launched a respiratory muscle training device called Airofit Pro, which personalizes the breathing experience for users and makes the respiratory muscles stronger, faster, and more efficient.
Global Respiratory Devices Market: Restraint
Increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration is expected to hinder the market growth over the forecast period. For instance, in September 2022, the U.S. Food and Drug Administration recalled a class I BiPAP machine, a type of ventilator, which is manufactured by Koninklijke Philips N.V., a medical device company. The device was recalled because the machines may contain plastic in their motors that release volatile organic compounds which have the risk for users inhaling dangerous volatile organic compounds and the plastic could also cause device failure.
Global Respiratory Devices Market - Key Players
Major players operating in the global respiratory devices market include Masimo, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, ResMed, Hamilton Medical, Medtronic, Koninklijke Philips N.V., ICU Medical, Inc., General Electric Company, Dragerwerk AG & Co. KGaA, Inogen, Inc., TytoCare Ltd., Belluscura, Mitocon Biomed, VYAIRE, Medline Industries, Inc., OMRON Corporation, TNI medical AG, and Xplore Health Technologies Pvt. Ltd.
Respiratory device is a device that facilitates breathing in cases of respiratory failure. If there is a problem in the functioning of the respiratory system then the condition may lead to chronic obstructive pulmonary disease, emphysema, bronchiectasis, asthma, chronic bronchitis or pulmonary fibrosis, and others. To treat such conditions several respiratory devices are required, such as positive expiratory pressure, high-frequency chest wall oscillation, oral high-frequency oscillation, intrapulmonary percussive ventilation, incentive spirometer, and flutter device. The pulmonary gas exchange is disturbed during general anesthesia, and both oxygenation and elimination of carbon dioxide are impaired. The shape of the chest wall alters after the induction of anesthesia-paralysis in recumbent subjects, and its motion during inspiration is also altered. There are several respiratory therapeutic devices used in treating such conditions such as positive expiratory pressure, inhalers, humidifiers, oxygen concentrators, reusable resuscitators, respiratory masks, ventilators, and others.
Increasing adoption of inorganic strategies such as product launches by key market players is expected to drive the global respiratory devices market growth over the forecast period. For instance, in January 2021, TytoCare Ltd., a medical device company, announced that it had launched Pulse Oximeter (SpO2), a medical device for checking blood oxygen saturation levels and heart rate remotely. The virtual examination solution which is used in the home setting can support clinicians to monitor patients with COVID-19 and chronic lung or heart conditions and help to avoid hospital and clinic visits.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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