Respiratory Devices Market - Share, Size and Industry Analysis

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

RESPIRATORY DEVICES MARKET

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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.

Respiratory Devices Market Report Coverage

Report Coverage	Details
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
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Product Type: Respiratory Consumables (Respiratory Mask, Nasal Cannulas, Tracheostomy Tubes and Oxygen Tubes, Other Accessories and Consumables), Nebulizers (Compressed Jet Nebulizers, Ultrasonic Nebulizers, Mesh Nebulizers), Oxygen Concentrators (Home Oxygen Concentrators, Portable Oxygen Concentrators), Positive airway pressure devices, Polysomnography Devices (Ambulatory PSG, Clinical PSG), Pulse Oximeters, Mechanical Ventilators, Spirometers By End User: Hospitals, Ambulatory Surgical Centers, Clinics, Others (Long Term Care Centers, etc.)
Companies covered:	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.
Growth Drivers:	Increasing adoption of inorganic strategies such as product launches by key market players
Restraints & Challenges:	Increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration

Figure 2. Global Respiratory Devices Market Value (US$ Million), by Region, 2022

RESPIRATORY DEVICES MARKET

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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.

Frequently Asked Questions

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% between 2022 and 2030.

Factors such as increasing adoption of inorganic growth strategies such as product launches by key market players are expected to drive the market.

Oxygen concentrators is the leading product type segment in the market

Increasing number of product recalls by regulatory authorities such as the U.S. Food and Drug Administration are the major factors hampering the market.

Major players operating in the 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.