Respiratory Care Devices Market Size Forecast Report 2024-2030

• Posted by Renub Research Oct 30 Filed in Business 14 views
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  Respiratory Care Devices Market Overview

  
  The Respiratory Care Devices Market is projected to reach approximately $38.76 billion by 2030, growing from $22.32 billion in 2023, representing a compound annual growth rate (CAGR) of 8.20% from 2024 to 2030. These devices play a crucial role in enhancing respiratory functions and providing support for individuals with breathing disorders. Factors such as an aging population susceptible to respiratory diseases, advancements in technology, and rising healthcare costs are significantly contributing to market growth. The elderly are more prone to conditions like pneumonia, sleep apnea, and chronic obstructive pulmonary disease (COPD). According to the World Health Organization (WHO), over 2 billion people will be 60 years or older by 2050.

  Respiratory care devices are essential for identifying, monitoring, and treating respiratory ailments such as COPD, asthma, tuberculosis (TB), and pneumonia, thereby improving the quality of life for patients with these conditions. The market's growth is fueled by the increasing prevalence of respiratory diseases, population growth, and the demand for home care solutions. With the rise of environmental issues and an aging demographic, the need for effective respiratory care solutions is on the rise. Additionally, technological advancements, including AI developments, have revolutionized the healthcare industry. A notable innovation is the Airofit Pro, a personalized respiratory training system designed to strengthen respiratory muscles, which is priced at $422.74 and is expected to contribute to market growth.

  Market Insights on Respiratory Conditions

  • In the United States, chronic lung diseases, including allergies and COPD, affect over 34 million people.
  • In Canada, around 6 million individuals suffer from severe respiratory diseases, with 3.8 million diagnosed and many others likely undiagnosed, according to the Canadian Lung Association.
  • In the UK, respiratory diseases impact 1 in 5 individuals, making it the third leading cause of death. By 2024, the number of patients with respiratory diseases is projected to reach 104,439.
  • In France, respiratory illnesses affected 7.3 million people in 2023, resulting in 393,100 deaths.
  • In Italy, respiratory diseases are responsible for 82,100 deaths annually, impacting 6.1 million people, as reported by the International Respiratory Coalition.
  • In China, the number of individuals with chronic obstructive pulmonary disease (COPD) approached 100 million by November 2023, accounting for about 25% of global cases.
  • In India, the burden of respiratory allergies reached 34.3 million, comprising 13.09% of the global burden, with significantly higher mortality rates compared to global averages.
  • As of October 2022, 30 countries with a high TB burden accounted for 87% of current TB cases. The WHO South-East Asian Region reported 46% of new cases, followed by the African Region at 23% and the Western Pacific at 18%.

  United States Respiratory Care Devices Market

  The high prevalence of respiratory diseases in the United States, including COPD, TB, allergies, and sleep apnea, gives the country a significant share of the global market. The CDC estimates that 4.6% of American adults (aged 18 and older) will be diagnosed with chronic obstructive pulmonary disease (COPD), emphysema, or chronic obstructive airway disease, which will further stimulate market growth. Additionally, innovative research and development (R&D) are propelling market expansion through the introduction of cutting-edge products. In 2022, the U.S. allocated $150 million for R&D related to respiratory diseases, with $328 million for asthma, $621 million for TB, and $515 million for sleep apnea.

  Company Analysis in the Respiratory Care Devices Market

  Key players in the respiratory care devices market include Medtronic, Koninklijke Philips, General Electric Company, Masimo Corporation, ResMed Inc., Becton Dickinson, Chart Industries Inc., Getinge AB, and Inogen Inc.

  Company Developments

  ·        Medtronic:

  • In February 2024, Medtronic announced plans to merge its patient tracking and respiratory divisions while exiting the ventilator market.
  • In October 2022, Medtronic announced its intention to separate its patient monitoring and respiratory intervention units from its medical-surgical portfolio. In 2021, they launched a pediatric monitor that alerts clinicians to airway obstructions during ventilation.
  • The Puritan Bennett 980 ventilator, introduced in 2020, utilizes advanced algorithms to provide tailored ventilation for patients experiencing respiratory failure.

  ·        Koninklijke Philips:

  • In January 2024, Philips halted sales of respiratory care products and sleep therapy devices in the U.S. as part of a consent decree with the U.S. Department of Justice.
  • In 2021, Philips Healthcare launched the Trilogy Evo ventilator, designed for patients with acute and chronic respiratory failure, featuring advanced ventilation modes and superior monitoring capabilities.

  ·        General Electric Company:

  • In 2020, GE Healthcare released the Carescape R860 ventilator, which includes multiple airflow modes and advanced monitoring features tailored for critically ill patients with respiratory failure.

  ·        Masimo Corporation:

  • In January 2020, Masimo acquired NantHealth's Connected Care Business, enabling it to assist hospitals in delivering consistent care through connectivity, automation, and breakthrough non-invasive monitoring technology.

  ·        ResMed Inc.:

  • In 2021, ResMed launched the AirSense 11 AutoSet and AirSense 11 AutoSet for Her, advanced continuous positive airway pressure (CPAP) devices that use artificial intelligence to automatically adjust pressure levels for optimal patient comfort.
  • In 2020, they introduced the AirFit F30i full-face mask, designed to maximize comfort and movement freedom for sleep apnea patients, featuring a unique cushion design and advanced comfort features.

  ·        Getinge AB:

  • In January 2023, Getinge launched the Servo-C, a new mechanical ventilator for intensive care units (ICUs) suitable for both adults and children.

  ·        Inogen Inc.:

  • The Rove 6, launched in Europe in December 2022, is a six-setting device expected to have a service life of eight years.
  • The Rove 4, a four-setting device released in the U.S. in 2023, received FDA market clearance in December 2022.
  • Inogen acquired New Aera, a manufacturer of portable, non-invasive ventilators, for $70.4 million in cash in 2019.
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  Device Type – Market has been covered from 4 viewpoints

  1.    Therapeutic Devices

  2.    Monitoring Devices

  3.    Diagnostic Devices

  4.    Consumables & Accessories

   

   

  Products – Market has been covered from 8 viewpoints

  1.    Respiratory Consumables

  2.    Nebulizers

  3.    Oxygen Concentrators

  4.    Polysomnography Devices

  5.    Pulse Oximeter

  6.    Mechanical Ventilators

  7.    Spirometers

  8.    Others

   

   

  Application – Market has been covered from 6 viewpoints

  1.    Chronic Obstructive Pulmonary Disease (COPD)

  2.    Obstructive Sleep Apnea

  3.    Asthma

  4.    Respiratory Distress Syndrome

  5.    Cystic Fibrosis

  6.    Others

   

   

  End Users – Market has been covered from 3 viewpoints

  1.    Hospitals

  2.    Home Care

  3.    Ambulatory Care

   

   

  Country – This report covers the 18 countries

  1.    North America

   

  1.1    United States

  1.2    Canada

   

  2.    Latin America

   

  2.1    Mexico

  2.2    Brazil

   

  3.    Europe

   

  3.1    United Kingdom

  3.2    Germany

  3.3    France

  3.4    Italy

  3.5    Spain

  3.6    Netherlands

   

  4.    Asia Pacific

   

  4.1    China

  4.2    Japan

  4.3    India

  4.4    South Korea

  4.5    Australia

   

  5.    Middle East & Africa

   

  5.1    United Arab Emirates

  5.2    South Africa

   

  6.    Rest of the World

   

   

  All the companies have been studied from 3 points

  •    Business Overview

  •    Recent Developments

  •    Sales Analysis

   

   

  Company Analysis

  1.    Medtronic Plc

  2.    Koninklijke Philips

  3.    General Electric Company

  4.    Masimo Corporation

  5.    ResMed Inc.

  6.    Becton Dickinson

  7.    Chart Industries Inc.

  8.    Getinge AB

  9.    InogenInc

   

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