Respiratory Devices Market Size, Share & Industry Analysis, By Type (Therapeutic Devices [Positive Airway Pressure (PAP) Devices, Airway Management Devices, Ventilators, Inhalers, Nebulizers, Others], Diagnostic & Monitoring Devices [Spirometers, Polysomnography Devices, Pulse Oximeters and Others], and Consumables and Accessories [Masks, Nasal Cannula and Others]), By Application (Chronic Obstructive Pulmonary Disease (COPD), Sleep Apnea, Asthma, Infectious Diseases, and Others), By End-User (Hospitals & ASCs, Specialty Clinics, Home Care Settings, and Others), and Regional Forecast, 2024-203

The global respiratory devices market size was valued at USD 23.99 billion in 2023. The market is projected to grow from USD 25.33 billion in 2024 to USD 39.24 billion by 2032, exhibiting a CAGR of 5.6% during the forecast period. North American dominated the respiratory devices market with a market share of 40.43% in 2023.

Respiratory devices are equipment that help the breathing process by delivering the required amount of oxygen to patients. These devices ensure the pumping of air under varying pressure into the airways of the lungs and protection against hazardous substances in the air.

The increasing prevalence of respiratory diseases, such as Chronic Obstructive Pulmonary Disease (COPD), and asthma, among others, resulting in rising inpatient and outpatient admissions, is further increasing the diagnosis and treatment rate among patients. Furthermore, the growing diagnosis and treatment rate for respiratory disorders is resulting in rising demand for respiratory devices in the market.

• For instance, according to the 2024 data published by the National Council on Aging, approximately 936 million adults are affected by mild to severe sleep apnea in the U.S. Thus, the growing prevalence of respiratory diseases, including asthma, sleep apnea, among others, is likely to augment the demand for the devices in the market.

A robust focus on the prominent players operating in the market to develop and launch technologically advanced products to cater to the rising demand among the healthcare providers and patient population globally, is another factor supporting the increasing global respiratory devices market size.

The COVID-19 pandemic’s impact on the global market was positive owing to an increased number of patients with respiratory diseases, including COVID-19 and others, which resulted in increased demand for ventilators, masks, and other devices. Additionally, the increased supply of these devices among healthcare companies and distributors further supported the growth in their annual revenue, thereby positively impacting the market.

Respiratory Devices Market Trends

Technological Advancements in Products by Market Players to Spur Market Growth

There is an increasing prevalence of respiratory diseases among patients, which is increasing the demand for technologically advanced products in the market. The prominent players operating in the market are focusing on technological advancements in these devices, such as the development of highly reliable and accurate devices, smart inhalers, among others. The key players are also focusing on wearable technology, such as the development of respiratory sensors for the efficient and accurate diagnosis of respiratory diseases among patients.

• For instance, in June 2024, Aseptika launched the PUFFClicker3, a smart inhaler dose tracker compatible with pressurized metered dose inhalers and dry powder inhalers. 

Furthermore, there is also an increasing focus on the incorporation of artificial intelligence into respiratory devices, which can help in the accurate diagnosis of respiratory diseases among patients. These devices have a wide range of applications that further improve patient adherence to the treatment of respiratory disorders. According to a 2023 study published by the Nuffield Department of Primary Care Health Sciences at the University of Oxford, technology can provide over 91% accuracy in the diagnosis of respiratory diseases among patients. The aforementioned benefits associated with these devices have caused the shift toward technologically advanced products among the patient population.

Respiratory Devices Market Growth Factors

Growing Prevalence of Respiratory Conditions Among Patients to Support Market Growth

The increasing prevalence of respiratory conditions, including sleep apnea, Chronic Obstructive Pulmonary Disease (COPD), and asthma, among others, is resulting in rising diagnosis and treatment rates among patients. Moreover, the growing diagnosis and treatment rate and rising strategic initiatives by healthcare organizations to raise awareness are augmenting the demand for respiratory devices in the market.

• For instance, according to a 2023 article published by the National Heart, Lung, and Blood Institute (NHLBI), approximately 16 million adults are suffering from the Chronic Obstructive Pulmonary Disease (COPD) in the U.S.

Additionally, the growing demand for advanced devices is further resulting in the rising focus of respiratory equipment companies, to introduce novel products in the market. Furthermore, improved healthcare infrastructure in emerging countries, such as China and India, among others, is expected to support the adoption of these devices in the market.

Thus, the growing technological advancements and rising adoption of these devices are expected to boost the global respiratory devices market growth during the forecast period.

RESTRAINING FACTORS

Limited Availability of Skilled Professionals in Emerging Countries to Treat Respiratory Conditions Will Hamper Market Growth

The increasing prevalence of respiratory diseases is supporting the growing demand for diagnosis and treatment for these disorders among patients. However, the availability of an inadequate number of respiratory therapists for the diagnosis and treatment rate is resulting in a rising disease burden for these disorders globally. 

• For instance, according to 2022 data published by the British Thoracic Society, there were about 4,000 respiratory therapists in the U.K. Thus, an inadequate number of skilled respiratory therapists to cater to the growing demand for respiratory disorders diagnosis and treatment among patients is likely to hamper the growth of the market.

Furthermore, an inadequate number of respiratory professionals and limited patient adherence to treatment for respiratory disorders, including Chronic Obstructive Pulmonary Disease (COPD), and asthma, among others, is expected to hamper the adoption of these devices among patients. This factor, along with limited adoption of respiratory devices among the patient population, is expected to hamper the growth of the market globally.

• According to a 2022 article published by the National Center for Biotechnology Information (NCBI), the patient adherence rate for obstructive pulmonary disease ranged between 10% and 40%.

Respiratory Devices Market Segmentation Analysis

By Type Analysis

Increasing Number of Product Launches for Therapeutic Devices Led to Dominance of Segment

Based on type, the market is segmented into therapeutic devices, diagnostic & monitoring devices, and consumables and accessories. The therapeutic devices are further segmented into Positive Airway Pressure (PAP) devices, airway management devices, ventilators, inhalers, nebulizers, and others. The diagnostic & monitoring devices are further segmented into spirometers, polysomnography devices, pulse oximeters, and others. Furthermore, the consumables and accessories are divided into masks, nasal cannula, and others.

The therapeutic devices segment dominated the market in 2023. The dominance is due to growing technological advancements in various types of airway devices, such as airway clearance devices, among others, resulting in rising demand and further adoption of these devices among patients. In addition, the growing focus of key players on the research and development activities to launch innovative respiratory therapy devices, such as ventilators, inhalers, among others, is likely to boost the growth of the segment.

• For instance, in January 2023, Getinge AB launched a new ventilator, Servo-c for the treatment of respiratory diseases in adults and pediatric patients, with an aim to expand its product offerings for ICU products.

The diagnostic & monitoring devices segment is also expected to grow during the forecast period. The growth is due to the growing diagnosis rate among patients for respiratory disorders, such as Chronic Obstructive Pulmonary Disease (COPD), and asthma, among others, resulting in rising demand for these devices among patients. The growing demand and mergers and collaborations among the key players to strengthen their presence are likely to support the growth of the segment.

The consumables and accessories segment is also expected to grow during the forecast period. The growth is due to increasing strategic initiatives among the key players to raise awareness about respiratory devices, further supporting the rising demand for these devices, such as masks, nasal cannula, and others among patients.

By Application Analysis

Growing Prevalence of Sleep Apnea Led to Dominance of Sleep Apnea Segment

Based on application, the market is segmented into Chronic Obstructive Pulmonary Disease (COPD), sleep apnea, asthma, infectious diseases, and others.

The sleep apnea segment dominated the market in 2023 due to the rising prevalence of sleep apnea among patients, resulting in a growing diagnosis and treatment rate. Additionally, the increasing technological advancements in breathing devices for sleep apnea is further likely to augment the demand for these devices among patients.

• According to 2024 statistics published by the National Council on Aging, it was reported that approximately 39 million adults are suffering from Obstructive Sleep Apnea (OSA) among patients in the U.S.

The Chronic Obstructive Pulmonary Disease (COPD) segment is expected to grow during the forecast period. The growing focus of the key players operating in the market to develop and introduce novel products with improved capabilities to diagnose COPD among patients, among others, are some of the major factors supporting the growth of the segment.

The asthma segment is also expected to grow during the forecast period. The segment’s growth is attributed to the growing prevalence of asthma, resulting in growing inpatient and outpatient admissions for respiratory disorders. The rising number of patients and growing initiatives among healthcare organizations to raise awareness about the benefits of these devices is likely to support the growth of the segment.

The infectious diseases and others segment is also expected to grow during the forecast period. The segment’s growth is led by the sudden outburst of pandemic, such as COVID-19 and rising prevalence of infectious respiratory disorders, including influenza and others.

By End-User Analysis

Increasing Number of Patient Admissions Leads Hospitals & ASCs Segment

Based on end-user, the market is segmented into hospitals & ASCs, specialty clinics, home care settings, and others.

The hospital & ASCs segment dominated the market in 2023 fueled by the growing number of patient admissions in the hospital & ASCs setting for the treatment of sleep apnea, asthma, and other respiratory disorders. Additionally, the growing number of hospitals & ASCs settings is likely to boost the growth of the segment.

• For instance, according to 2023 statistics published by ABOVE & BEYOND THERAPY, it was reported that there are 7,335 active hospitals in the U.S.

The specialty clinics segment is anticipated to record a considerable growth rate during the forecast period. The growing number of specialty clinics in Brazil, China, India, and other emerging countries, catering to the patients suffering from various respiratory disorders is resulting in a growing number of inpatient and outpatient admissions in these clinics.

The home care settings and others segment is also expected to grow during the forecast period. The segment’s growth is attributed to the growing product launches suitable for use at home and rising number of home care and other settings offering the diagnosis and treatment for respiratory disorders.

• For instance, in November 2021, Cipla, Inc. launched Spirofy, a pneumotach-based portable, wireless spirometer that patients can use at home to diagnose respiratory disorders. Thus, a growing number of home care respiratory products is likely to support the growing adoption of these devices in the market.

REGIONAL INSIGHTS

Based on geography, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America was valued at USD 9.70 billion in 2023 and dominated the market due to growing demand for therapeutic and diagnostic & monitoring devices, rising number of key players focusing on receiving regulatory approval for these devices, and other factors. Additionally, rising strategic initiatives among healthcare organizations to raise awareness about the benefits of technologically advanced devices is further likely to boost the region’s growth.

• For instance, in November 2023, Vivos received U.S. FDA approval for the Vivos CARE oral appliance for the treatment of obstructive sleep apnea in patients.

Europe is expected to grow due to the increasing prevalence of Chronic Obstructive Pulmonary Disease (COPD), asthma, and other diseases, resulting in growing patient admissions. These factors are expected to support the demand for respiratory devices, thereby boosting their adoption.

• According to the 2024 data published by Asthma + Lung U.K., approximately 5.4 million people in the U.K. suffer from asthma. Thus, the growing prevalence of these disorders among patients is likely to contribute to the growing demand, thereby increasing the adoption of these devices.

Asia Pacific is also expected to grow during the forecast period due to the rising geriatric population suffering from asthma, infectious diseases, and other diseases, resulting in rising demand for technologically advanced products. Additionally, a rising focus of key players on mergers and collaborations to strengthen their presence is further likely to contribute to the growth of the market.

• According to the 2023 statistics published by the Government of China, there were about 297 million people aged 60 and above in the country. Thus, the increasing geriatric population suffering from respiratory diseases is likely to support the growing demand for these devices among patients in the market.

Latin America and the Middle East & Africa are also expected to grow during the forecast period due to the rising prevalence of respiratory diseases in Brazil, Mexico, UAE, and other countries. Additionally, the countries are increasing strategic initiatives among healthcare organizations to raise awareness about the benefits of these devices. These factors, coupled with improving healthcare infrastructure in these countries, are expected to fuel product adoption. 

KEY INDUSTRY PLAYERS

Increasing Focus of Prominent Players to Widen Their Product Portfolio Will Support Market Growth

The global market is fragmented, with a majority of the players, including Koninklijke Philips N.V., ResMed, Inc., and others, operating in the market with a wide product portfolio.

Koninklijke Philips N.V., ResMed, Inc., and GE Healthcare are the prominent players in the market, accounting for a majority of the market share. The increasing focus of these players to launch innovative respiratory devices, such as Positive Airway Pressure (PAP) devices is likely to boost the growth of these companies, thereby contributing to the global respiratory devices market share.

• For instance, in February 2024, ResMed, Inc. launched its AirCurve 11 series, a bilevel device that uses two levels of support, inspiratory positive airway pressure and expiratory positive airway pressure. 

Fisher & Paykel Healthcare Limited, Baxter, and others, are focusing on collaborations and partnerships with other players to strengthen their presence, which is another crucial factor favoring the growing brand presence globally.

Masimo and Getinge AB are a few other players operating in the global market. The increasing efforts of these players to expand their geographical presence, brand presence, and strengthen their product portfolio are some of the factors contributing to the growing market shares.

List of Top Respiratory Devices Companies:

• Koninklijke Philips N.V. (Netherlands)


• Medtronic (Ireland)


• ResMed, Inc. (U.S.)


• Fisher & Paykel Healthcare Limited (New Zealand)


• Masimo (U.S.)


• Getinge AG (Sweden)


• GE HealthCare (U.S.)


• Baxter (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• May 2024 – Medline Industries, Inc. launched Hudson RCI TurboMist, a small-volume nebulizer for medication delivery among patients, with an aim to strengthen its product portfolio.


• March 2024 – Berry Global launched the BerryHaler, a dual-chamber, dry powder inhaler with a dose counter, to enable the effective delivery of combination drugs among patients.


• November 2023 – GE Healthcare collaborated with Masimo to launch SET pulse oximetry on the wireless and wearable company’s portrait mobile platform to strengthen its global presence.


• September 2022 – Onera Health launched a polysomnography-as-a-service solution for the diagnosis of sleep disorders among patients, with an aim to strengthen its presence in Germany and the Netherlands.


• May 2022 – Max Ventilator launched multifunctional Non-Invasive (NIV) ventilators with inbuilt oxygen therapy to meet the growing demand among patients.

REPORT COVERAGE

The report provides a detailed market analysis and focuses on key aspects, such as market size, forecast, segmentation based on types, applications, end-users, and competitive landscapes. It also gives an overview of technological developments, the prevalence of respiratory disorders for 2023, and new product launches. Besides, it offers insights into the latest market trends, market statistics, and key industry developments. In addition to the factors mentioned above, it encompasses several factors, which have contributed to the market's growth in recent years.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Growth Rate	CAGR of 5.6% from 2024-2032
Unit	Value (USD Billion)
Segmentation	By Type Therapeutic Devices Positive Airway Pressure (PAP) Devices Airway Management Devices Ventilators Inhalers Nebulizers Others Diagnostic & Monitoring Devices Spirometers Polysomnography Devices Pulse Oximeters Others Consumables and Accessories Masks Nasal Cannula Others
By Application Chronic Obstructive Pulmonary Disease (COPD) Sleep Apnea Asthma Infectious Diseases Others
By End-User Hospitals and ASCs Specialty Clinics Home Care Settings Others
By Region North America (By Type, Application, End-User, and Country) U.S. Canada Europe (By Type, Application, End-User, and Country/Sub-region) U.K. Germany France Italy Spain Scandinavia Rest of Europe Asia Pacific (By Type, Application, End-User, and Country/Sub-region) China Japan India Australia Southeast Asia Rest of Asia Pacific Latin America (By Type, Application, End-User, and Country/Sub-region) Brazil Mexico Rest of Latin America Middle East & Africa (By Type, Application, End-User, and Country/Sub-region) GCC South Africa Rest of the Middle East & Africa