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The respiratory devices and equipment (therapeutic and diagnostic) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The respiratory devices and equipment (therapeutic and diagnostic) market size has grown rapidly in recent years. It will grow from $32.89 billion in 2023 to $37.17 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to respiratory conditions prevalence, aging population, pollution and environmental factors, telehealth and remote monitoring.
The respiratory devices and equipment (therapeutic and diagnostic) market size is expected to see rapid growth in the next few years. It will grow to $58.85 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to minimally invasive techniques, emerging markets growth, regulatory support and reimbursement, personalized medicine. Major trends in the forecast period include home-based care, wearable and remote monitoring, telemedicine integration, sustainable and eco-friendly practices.
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Scope Of Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Overview
Market Drivers –
The global therapeutic respiratory devices and equipment market will be driven by the increase in diseases such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and lung cancer. Growth in the geriatric population, tobacco consumption, allergens, and air pollutants increase the prevalence of respiratory diseases, in turn driving the global therapeutic respiratory devices market. According to World Health Organisation,4.9 million people die due to tobacco consumption, and smoking causes chronic obstructive pulmonary diseases (1 million deaths annually), cardiovascular and respiratory diseases (1.7 million deaths annually), and lung cancer (0.85 million deaths annually). According to an Italian journal, COPD in the U.S. is estimated to be 10% in the population aged 75 years or over. According to Asthma UK, 5.4 million people in the UK are currently receiving treatment for asthma out of these 1.1 million are children and 4.3 million are adults.
Market Trends –
Companies in the respiratory devices and equipment market are increasingly investing in enhanced mechanical ventilators for efficient patient management. These mechanical ventilators use artificial intelligence to improve patient management by examining, analyzing, integrating, and incorporating data from extensive sources. These AI-enabled devices ensure consistency even in the absence of expert personnel, improve patients’ treatment, limit clinical mistakes, and predict prolonged mechanical ventilation by using artificial intelligence techniques. Some of the major companies offering intelligent mechanical ventilators such as Hamilton Medical AG, Koninklijke Philips N.V., and others.
The respiratory devices and equipment (therapeutic and diagnostic) market covered in this report is segmented –
1) By Type: Diagnostic devices, Therapeutic devices, Monitoring devices
2) By Therapeutic Devices: Humidifiers, Nebulizers, Oxygen concentrators, Positive Airway Pressure (PAP) Devices, Ventilators, Other Therapeutic Devices
3) By Diagnostic Devices: Spirometer, Polysomnographs, Peak Flow Meters
4) By Monitoring Devices: Pulse oximeters, Capnographs, Gas analyzers
5) By Application: Chronic Obstructive Pulmonary Disease (COPD), Asthma, Obstructive Sleep Apnea (OSA), Respiratory Distress Syndrome (RDS), Cystic Fibrosis, Pneumonia
6) By End User: Hospitals, Clinics, Homecare settings, Ambulatory service centers,
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Regional Insights –
Asia-Pacific was the largest region in respiratory devices and equipment (therapeutic and diagnostic) market in 2023. Western Europe was the second-largest region in respiratory devices and equipment (therapeutic and diagnostic) market. The regions covered in the respiratory devices and equipment (therapeutic and diagnostic) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Key Companies –
Major companies operating in the respiratory devices and equipment (therapeutic and diagnostic) market include Smiths Medical Inc., Philips Healthcare, GE Healthcare, Chart Industries Inc., Invacare Corporation, Fisher & Paykel Healthcare Limited, ResMed Inc., Koninklijke Philips N.V., Dragerwerk AG, Medtronic plc, Masimo Corp., CareFusion Corporation, Compumedics Limited, Becton Dickinson and Company, Hamilton Medical, Mindray Medical International Limited, Vyaire Medical Inc., Getinge AB, AirSep Corporation, Breas Medical AB, Hill-Rom Holdings Inc., Inogen, Shenzhen Mindray Bio-Medical Electronics Co., Linde plc, DeVilbiss Healthcare LLC, Nihon Kohden Corporation, Nonin Medical Inc., O2 Concepts LLC, Precision Medical Inc., Pulmodyne Inc., Salter Labs Inc., Sechrist Industries Inc., Teleflex Inc., Ventec Life Systems, VitalAire, Weinmann Emergency Medical Technology GmbH + Co. KG, ZOLL Medical Corporation
Table of Contents
1. Executive Summary
2. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Report Structure
3. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Trends And Strategies
4. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market – Macro Economic Scenario
5. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Size And Growth
…..
27. Respiratory Devices And Equipment (Therapeutic And Diagnostic) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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