Inhalers, nebulizers, oxygen concentrators, positive airway pressure (PAP) devices, mechanical ventilators, pulse oximeters, polysomnography devices, and spirometers devices are some of the most widely used respiratory devices.

The global respiratory devices market is estimated to account for US$ 16,878.0 Mn in terms of value in 2019 and is expected to reach US$ 34,178.1 Mn by the end of 2027.

Global Respiratory Devices Market: Drivers

Increasing air pollution is expected to boost growth of the global respiratory devices market over the forecast period. For instance, according to Health Effects Institute’s State of Global Air 2019 report, air pollution (PM2.5, ozone, and household air pollution) is the fifth leading risk factor for mortality worldwide.

Global Respiratory Devices Market: Opportunities

Investment and funding in R&D for respiratory diseases is expected to offer lucrative growth opportunities for players in the global respiratory devices market. For instance, in February 2020, Peter Weiss AO, an Australian businessman and arts philanthropist, announced US$ 4 million funding for critical research in lung disease.

Global Respiratory Devices Market: Restraints

Respiratory devices are susceptible to critical errors in inhalation tests, which is expected to hamper growth of the market. Errors in inhaler handling can adversely impact drug delivery and reduce treatment benefit. Moreover, lack of adherence to medication is also expected to limit the market growth. Asthma and COPD generally have lower adherence rates compared with other chronic conditions.

Key Takeaways:

Positive airway pressure devices segment in the global respiratory devices market was valued at US$ 4,551.5 Mn in 2018 and is expected to reach US$ 11,814.6 Mn by 2027 at a CAGR of 11.1% during the forecast period. Increasing product launches is expected to support growth of the segment over the forecast period. For instance, in April 2019, ResMed Inc. launched a product, AirFit P30i, an interface device for continuous positive airway pressure (CPAP).

The portable oxygen concentrators sub segment held dominant position in oxygen concentrators segment in the global respiratory devices market in 2018, accounting for 66.6% share in terms of value, followed by home oxygen concentrators. New product launches is expected to drive growth of this segment. For instance, in 2018, ResMed a healthcare company has launched Mobi, its first ResMed-branded portable oxygen concentrator (POC).

The pulse oximeters segment accounted for 12.7% share in terms of value in global respiratory devices market. Increasing regulatory approvals for pulse oximeters are expected to propel the pulse oximeters sub-segment growth. For instance, in June 2019, Masimo received the U.S. FDA clearance for the neonatal indication of its O3 Regional Oximetry product.

Market Trends

Major players in the market are focused on development and launch of new devices. For instance, in October 2019, HCmed Innovations Co., Inc., a drug-device combination company, presented Pulmogine, a mesh nebulizer, at the 2019 ERS International Congress.

Recall of products is expected to limit growth of the market. For instance, in February 2020, Teleflex Incorporated announced a worldwide voluntary recall of the COMFORT FLO Humidification System due to the potential for water to flood the column and enter the circuit under circumstances where an abnormal pressure differential is created between the water bottle and the column during high flow oxygen therapy.

Regulations

Europe

  • Medical gas systems need to be CE Certified and Labelled in accordance with Council Directive 93/42 EEC Concerning Medical Devices (Class IIB); 2006/42 EC Machinery Directive; 97/23/EEC Pressure Equipment Directive (PED) and 2006/95/EC, Low Voltage Electrical Equipment Directive (LVD)
  • In Europe the MOS systems are treated as medical devices and classified as IIB
  • They require a CE mark for legal marketing. However, the CE Marking process will change as Europe’s new Medical Device Regulation (MDR) comes into force in May 2020
  • Implementation, modification, and maintenance of a quality system (usually ISO 13485) that will meet European and other international requirements are further specifications

Global Respiratory Devices Market: Competitive Landscape 

Major players operating in the global respiratory devices market include, Masimo Corporation, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, ResMed. Inc., Hamilton Medical AG, Medtronic PLC, Koninklijke Philips N.V., Smiths Medical, General Electric Healthcare Limited, Drägerwerk AG & Co. KGaA, and Inogen Inc.

Global Respiratory Devices Market: Key Developments

February 2020: Medtronic plc announced that the company and the Medtronic Foundation are committing around US$ 1.2 million to coronavirus relief efforts worldwide

June 2019: Rapid Oxygen partnered with the Connecticut Alliance of Boys & Girls Clubs to donate its R15, a portable oxygen cylinder

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