Michael Barbella, Managing Editor07.07.22
Solid, steady growth is forecast for the global therapeutic respiratory devices market.
Future Market Insights data estimates the sector to grow 3.7% annually to reach $58.7 billion in value, with growth driven by an aging world population, natural catastrophes, and worsening air pollution as well as the increased prevalence of respiratory disorders and rapid technical improvements. Also contributing to the market's expansion is an improved healthcare infrastructure, more health-conscious patients, and the rising demand for devices such as humidifiers, nebulizers, and oxygen concentrators.
Long-term respiratory therapy for critical care, emergency respiratory devices for rescue applications, and mobile home respiratory devices are among the several types of respiratory devices available.
The existence of modern healthcare facilities in the United States and Canada helped the North American therapeutic respiratory devices market gain more than 36% market share last year. The Asia Pacific region is expected to expand the quickest, owing to factors such as increased asthma incidence in adults and children and technology improvements.
Disorders such as asthma and COPD are also fueling demand for respiratory devices. An estimated 100 million additional asthmatic cases are exptected to be diagnosed by 2025, according to Global Initiative for Asthma data. COPD, meanwhile, affects roughly 105 of U.S. adults aged 75 and older, industry statistics indicate.
Carefusion Corporation, GE Healthcare, Chart industries, Philips Healthcare, Compumedics Ltd., Smiths Medical, Covidien plc, Invacare, Fisher and Paykel, and Mindray are some of the major respiratory device companies.
Key developments in the therapeutic respiratory devices market include:
Future Market Insights data estimates the sector to grow 3.7% annually to reach $58.7 billion in value, with growth driven by an aging world population, natural catastrophes, and worsening air pollution as well as the increased prevalence of respiratory disorders and rapid technical improvements. Also contributing to the market's expansion is an improved healthcare infrastructure, more health-conscious patients, and the rising demand for devices such as humidifiers, nebulizers, and oxygen concentrators.
Long-term respiratory therapy for critical care, emergency respiratory devices for rescue applications, and mobile home respiratory devices are among the several types of respiratory devices available.
The existence of modern healthcare facilities in the United States and Canada helped the North American therapeutic respiratory devices market gain more than 36% market share last year. The Asia Pacific region is expected to expand the quickest, owing to factors such as increased asthma incidence in adults and children and technology improvements.
Disorders such as asthma and COPD are also fueling demand for respiratory devices. An estimated 100 million additional asthmatic cases are exptected to be diagnosed by 2025, according to Global Initiative for Asthma data. COPD, meanwhile, affects roughly 105 of U.S. adults aged 75 and older, industry statistics indicate.
Carefusion Corporation, GE Healthcare, Chart industries, Philips Healthcare, Compumedics Ltd., Smiths Medical, Covidien plc, Invacare, Fisher and Paykel, and Mindray are some of the major respiratory device companies.
Key developments in the therapeutic respiratory devices market include:
- The release of Acapella, a select blue vibratory PAP therapy device, by Smiths Medical in April 2021. Acapella is a drug-free supplementary therapy for people with asthma, COPD, cystic fibrosis, and lung illness that aids in the evacuation of secretions.
- Koninklijke Philips N.V.'s finalization of its deal for BioTelemetry Inc., in February 2021. The acquisition helped expand Philips' product line and bolstered sales of the company's therapeutic respiratory devices.
