Global Respiratory Devices Market, by Product Type (Respiratory Consumables (Respiratory Mask, Nasal Cannulas, Tracheostomy Tubes and Oxygen Tubes, and Other Accessories and Consumables), Nebulizers (Compressed Jet Nebulizers, Ultrasonic Nebulizers, Mesh Nebulizers), Oxygen Concentrators (Home Oxygen Concentrators and Portable Oxygen Concentrators), Positive airway pressure devices, Polysomnography Devices (Ambulatory PSG and Clinical PSG), Pulse Oximeters, Mechanical Ventilators, and Spirometers), by End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others (Long Term Care Centers, etc.), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
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 June 2022, Belluscura, a medical device company, announced that it had launched X-PLOR portable oxygen concentrator that allows patients to track their oxygen usage, breathing rates, blood oxygen saturation levels, heart rate, sleep, and other important biometric and environmental data.
Global Respiratory Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been significantly impacted by the COVID-19 pandemic.
Many patients with COVID-19 have a severe respiratory infection that requires hospitalization and mechanical ventilation. Therefore, the COVID-19 pandemic had a positive impact on the global respiratory devices market. For instance, in July 2020, Mitocon Biomed, a manufacturer of medical equipment, launched Oxysat, a pulse oximeter to monitor blood oxygen levels which is a preliminary marker for COVID-19.
Global Respiratory Devices Market: Key Developments
Adoption of inorganic strategies such as product launch by key market players is expected to drive the global respiratory devices market over the forecast period. For instance, in April 2020, Koninklijke Philips N.V., a health technology company, announced that they had launched the E30 Ventilator, a versatile and easy-to-use noninvasive and invasive ventilator designed for large-scale production to treat patients with respiratory insufficiency and can be used noninvasively, as well as invasively, offering the flexibility to adapt to the treatment needs of patients with COVID-19.
Browse 25 Market Data Tables and 23 Figures spread through 170 Pages and in-depth TOC on “Global Respiratory Devices Market”- Forecast to 2030, Global Respiratory Devices Market, by Product Type (Respiratory Consumables (Respiratory Mask, Nasal Cannulas, Tracheostomy Tubes and Oxygen Tubes, and Other Accessories and Consumables), Nebulizers (Compressed Jet Nebulizers, Ultrasonic Nebulizers, and Mesh Nebulizers), Oxygen Concentrators (Home Oxygen Concentrators and Portable Oxygen Concentrators), Positive airway pressure devices, Polysomnography Devices (Ambulatory PSG and Clinical PSG), Pulse Oximeters, Mechanical Ventilators, and Spirometers), by End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others (Long Term Care Centers, etc.), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/respiratory-devices-market-1299
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 March 2021, VYAIRE, a medical technology company, announced that it had launched AioCare mobile spirometer system, which enables physicians to promptly diagnose pulmonary diseases including asthma and breathing disorders as accurately as hospital-grade spirometers. It also performs high-quality patient monitoring via advanced digital connectivity at home.
Key Takeaways of the Global Respiratory Devices Market:
- The global respiratory devices market is expected to exhibit a CAGR of 9.1% during the forecast period, due to the increasing adoption of inorganic growth strategies such as acquisition by key market players over the forecast period. For instance, in May 2021, Medline Industries, Inc., a healthcare company, announced that it had acquired Teleflex Incorporated, a medical device company. Under this acquisition, Medline Industries, Inc., will acquire the select assets of The Hudson RCI brand of respiratory consumables including oxygen and aerosol therapy, active humidification, non-invasive ventilation, and incentive spirometers.
- Among product type, the oxygen concentrators segment is estimated to hold a dominant position in the global respiratory devices market over the forecast period due to the increasing product launch by key market players. For instance, in July 2022, OMRON Corporation, a medical device company, announced that it had launched a portable oxygen concentrator, which is the sieve-based oxygen concentrator that provides a continuous supply of high-purity oxygen (5L per minute) with more than 90% high concentration output.
- Among regions, North America is estimated to account for the largest market share in the global respiratory devices market over the forecast period, owing to the increasing product approval by various regulatory authorities such as the U.S. Food and Drug Administration. For instance, in February 2020, Masimo, a medical technology company, announced that it had received the U.S. Food and Drug Administration clearance for RD SET sensors with motion and low perfusion SET pulse oximetry with improved oxygen saturation (SpO2) accuracy specifications for neonatal patients by providing clinicians with improved monitoring of oxygenation in neonates.
- 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.
