Respiratory Care Devices Market worth $31.8 billion by 2028

Posted February 8, 2024 by mmvaidya01

Growth in this market is largely driven by the growth in the number of patients suffering from respiratory disorders, such as COPD and asthma, increase in overweight and obese population, and rising number of preterm births.

Report Objectives:

# To define, describe, segment, and forecast the global respiratory care devices market on the basis of product, disease indications, end user, and region.

# To provide detailed information about the factors influencing the market growth (such as drivers, restraints, opportunities, and challenges).

# To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall respiratory care devices market.

# To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players functioning in this market.

# To forecast the size of the respiratory care devices market in five main regions as well as country-wise segmentation (North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa).

# To profile key players in the respiratory care devices market and comprehensively analyze their core competencies and market shares.

# To track and analyze competitive developments such as acquisitions; product launches; expansions; collaborations, partnerships, and agreements of the leading players in the respiratory care devices market.

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Overview of This Study:

This research employed a large number of primary and secondary sources. In order to determine the segmentation types, industry trends, major players, competitive landscape, important market dynamics, and major player strategies, the research process involved analyzing a variety of industry-affecting factors.

Industry Revenue Forecast:

Revenue from respiratory care devices was projected to reach $21.8 billion globally in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% to $31.8 billion by 2028.

Major Growth Influencing Factors:

The primary drivers of this market's growth are the increased emphasis on enhancing patient outcomes and the rise in research and development expenditures that produce cutting-edge technology. To enhance their patients' respiratory health and overall results, respiratory therapists employ a variety of techniques. For example, incentive spirometry involves having patients take deep, prolonged breaths to measure how well their lungs expand. It will improve the patient's ability to expel mucus from their lungs because it requires deep breathing. Patients learn these exercises from therapists, which increases the market for respiratory care equipment.

Data Triangulation:

Once the market's size was determined, it was further broken down into numerous segments and sub-segments. In order to finalize the market engineering process and obtain precise statistics for every segment and sub-segment, data triangulation and market breakdown techniques were utilized, as appropriate. The source structure, data triangulation technique, and market validation used in this report's market engineering process are depicted in the accompanying figure.

Geographical Growth Dynamics:

The respiratory care devices market was dominated by the North American segment.

The regions of North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa comprise the global respiratory care devices market. The respiratory care devices market was dominated by North America in 2022. The North American market for respiratory care devices is anticipated to grow as a result of the region's sophisticated healthcare infrastructure and high healthcare spending. Throughout the forecast period, the US's high prevalence of asthma is anticipated to fuel demand for respiratory care devices.

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Key Players:

The major players in the respiratory care devices market include Koninklijke Philips N.V. (Netherlands), General Electric Healthcare (US), ResMed Inc. (US), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Medtronic plc (Ireland), Masimo Corporation (US), Drägerwerk AG & Co.(Germany), Getinge AB (Sweden), Nihon Kohden Corporation (US), Vyaire Medical (US), Hill-Rom, Inc. (US), AdaptHealth LLC (US), Rotech Healthcare, Inc. (US), Teleflex Incorporated(Japan), Air Liquide (France), Invacare Corporation (US), ICU Medical Inc. (US), Hamilton Medical AG (Switzerland), Apex Medical Corporation (Taiwan), Apex Medical Corporation (US), HUM GmbH (Germany), Nonin Medical (US), Allied Healthcare Products, Inc. (US), Drive DeVilbiss Healthcare (US), OMRON Healthcare, Inc. (Japan).

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Issued By Makarand Vaidya
Country United States
Categories Industry , Medical , News
Tags respiratory care devices market , respiratory care devices , respiratory care
Last Updated February 8, 2024