Report Scope & Overview:
The Respiratory Care Device Market was esteemed at USD 19.49 billion in 2022, and is to reach USD 38.55 billion by 2030, enrolling an expected CAGR of 8.9% during the forecast period 2023-2030.
Respiratory Care Devices are utilized for analysis, observing, and therapy of respiratory infections like Chronic Obstructive Pulmonary Disease (COPD), asthma, tuberculosis, and pneumonia. These devices give improved care to patients experiencing such intense and constant respiratory illnesses. The report dissects the respiratory consideration gadgets market based on item type, end client, and geology.
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In any case, the advancement of the worldwide respiratory gadgets market is significantly determined by the expanded pervasiveness of respiratory infections, developing maturing populace across the globe, rising predominance of smoking, high contamination and urbanization, expanding frequency of preterm births, and way of life changes. As per this report Worldwide Respiratory Care Devices Market Size was US$ 22.35 Billion.
Key Driving Factors:
Flare-up of irresistible illnesses influencing the respiratory framework. Irresistible respiratory sicknesses straightforwardly drive interest for respiratory consideration. Coronavirus is the latest and critical of these sicknesses; the pandemic has brought about a flood popular for individual security hardware and ventilators, among others. The interest for ventilators has additionally become because of the COVID-19 flare-up, bringing about administrative and modern help for driving the speed of assembling. This is characteristic of the accentuation on respiratory consideration behind the scenes of a flare-up; the market is supposed to show a solid development rate, subsequently.
Numerous patients depend on repayments to get treatment. The analytic business all in all and respiratory care device, specifically, is as of now confronting the test of absence of repayments for different demonstrative tests. Repayment arrangements are scattered in Europe and are accessible just for PAP gadgets and oral machines in select nations (gadgets that are not covered by protection have a low piece of the pie in the area). Likewise, most of nations in the Asian and RoW districts have insignificant repayment inclusion for respiratory care device
The quick development in the worldwide geriatric populace, rising frequency of constant illnesses (counting COPD and asthma), and the expense benefits of home consideration gadgets and administrations (contrasted with clinic visits) are the key variables driving the development of the home medical services market. The high development potential in developing business sectors, medical services decentralization, and the advancement of scaled down gadgets are a portion of the main considerations that are supposed to give huge learning experiences to players working in the respiratory home medical care market. Attributable to the rising medical services costs, an enormous number of patients experiencing persistent respiratory infections like to go through therapies in home consideration settings. This pattern is supposed to build the interest for items like nebulizers, ventilators, and CPAP gadgets, as they are utilized by patients to treat, analyze, and screen an assortment of respiratory illnesses in home consideration settings.
Regardless of the great commonness of major respiratory sicknesses, for example, asthma and COPD remain profoundly underdiagnosed and undertreated. This is especially clear in creating economies because of the low mindfulness about these sicknesses and the inaccessibility of sufficient assets to analyze these infections. As indicated by the WHO, over 90% of COPD passings and 80% of asthma passings happen in low-and center pay nations. COPD grows gradually, and it is normally analyzed in individuals matured more than 40 years, which makes it challenging to control in the later phases of life. It is assessed that around 70% of COPD patients are underdiagnosed inferable from the absence of mindfulness about the infection. Like COPD, asthma is additionally a profoundly underdiagnosed and undertreated infection (in around half asthmatics).
Impact of COVID-19:
COVID-19 is the latest and huge of these illnesses; the pandemic has brought about a flood sought after for respiratory consideration hardware like Nebulizers, Pulse Oximeters, and ventilators, among others. The requirement for ventilators has likewise ascended because of the COVID-19 pandemic, bringing about administrative and modern help for moving the speed of assembling. It communicates the accentuation on respiratory care behind the scenes of a pandemic the respiratory care gadgets market has shown sound development.
Consumables and Accessories
Chronic Obstructive Pulmonary Disease (COPD)
Home Care Settings
Ambulatory Care Centers
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Around the world, North America held the biggest respiratory consideration gadgets market. This is basically ascribed to the rising majority of respiratory illnesses like Chronic Obstructive Pulmonary Disease (COPD). According to CDC (Centers for Diseases Control and Prevention), ongoing obstructive aspiratory illness is the fourth most reason for death in the US. COPD influences 15 million American and a bigger number of than 150,000 Americans pass on from COPD every year.
Moreover, the Asia-Pacific district features gigantic development because of an enormous pool of respiratory patients, air contamination, and the developing commonness of tobacco smoking. Additionally, APAC is advancing into a clinical the travel industry center point and is viewed as one of the quickest developing business sectors for clinical gadgets. Low framework and therapy costs and the accessibility of profoundly taught doctors have driven clinical travelers to APAC nations, especially Thailand and India.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The Major Players are Koninklijke Philips N.V., ResMed, Medtronic, Fisher and Paykel Healthcare Limited, BD, Chart Industries Inc., Drägerwerk, AG & Co. KGaA, Hamilton Medical, Teleflex Incorporated, 3M and Other Players.
Medtronic-Company Financial Analysis
|Market Size in 2022
|US$ 19.49 Billion
|Market Size by 2030
|US$ 38.55 Billion
|CAGR of 8.9% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Product (Therapeutic Devices, PAP Devices, Ventilators, Nebulizers, Humidifiers, Oxygen Concentrators, Inhalers, Reusable, Resuscitators, Nitric Oxide Delivery Units, Oxygen Hoods)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Koninklijke Philips N.V., ResMed, Medtronic, Fisher and Paykel Healthcare Limited, BD, Chart Industries Inc., Drägerwerk, AG & Co. KGaA, Hamilton Medical, Teleflex Incorporated, 3M
Ans: The Respiratory Care Device Market size is to grow at a CAGR of 8.9% during the forecast period 2023-2030.
Key players in the respiratory care device market device are Koninklijke Philips N.V., Res Med, Medtronic, Fisher, Pay Kel Healthcare Limited, BD, and Chart Industries, Inc.
By-products sub-segments are therapeutic devices, monitoring devices, diagnostic devices, consumables, and accessories. The therapeutic devices segments have the largest revenue share of the respiratory care device market.
The market is divided into three segments are by product type, by indication, and by end users.
Ans: The Respiratory Care Device market was valued at US$ 19.49 Bn in 2022.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
220.127.116.11 United Kingdom
18.104.22.168 South Korea
22.214.171.124 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Respiratory Care Device Market Segmentation on the basis of Product:
8.1 Therapeutic Devices
8.2 Monitoring Devices
8.3 Diagnostic Devices
8.4 Consumables and Accessories
9. Global Respiratory Care Device Market Segmentation on the basis of Indication:
9.1 Chronic Obstructive Pulmonary Disease (COPD)
9.3 Sleep Apnea
9.4 Infectious Disease
10. Global Respiratory Care Device Market Segmentation on the basis of End-User
10.2 Home Care Settings
10.3 Ambulatory Care Centers
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Koninklijke Philips N.V.
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.4 Fisher and Paykel Healthcare Limited
12.5 BD (U.S.)
12.6 Chart Industries, Inc.
12.8 AG & Co. KGaA
12.9 Hamilton Medical
12.10 Teleflex Incorporated
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
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