Austin, April 28, 2025 (GLOBE NEWSWIRE) -- Respiratory Devices Market Size & Growth Analysis:
According to a comprehensive research report by SNS Insider, the Respiratory Devices Market was valued at USD 22.62 billion in 2023 and is projected to reach USD 46.10 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.27% from 2024 to 2032
The demand for respiratory devices is quickly surging with the increased incidence of disease conditions such as chronic obstructive pulmonary disease (COPD), asthma, respiratory infection, and sleep apnea. Advanced technologies like wearable respiratory monitors, smart inhalers, and portable oxygen concentrators are optimizing patient compliance and care, further accelerating market growth. Increased awareness of respiratory health, combined with a surge in hospitalizations and surgeries that need post-operative respiratory services, is driving demand considerably. Additionally, healthcare infrastructural investments by public and private sectors, especially in emerging economies, are bolstering adoption. Further, favorable reimbursement policies and an expansion of home healthcare services are driving demand for easy-to-use respiratory devices.
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U.S. Respiratory Devices Market Trends
In 2023, the U.S. Respiratory Devices Market was valued at USD 6.43 billion in 2023, and is expected to be valued at USD 12.98 billion by 2032. The U.S. is still at the top with its sophisticated healthcare infrastructure, high disease prevalence of chronic conditions, and a robust presence of top players like Medtronic, ResMed, and Philips Healthcare. Initiatives by organizations such as the American Lung Association and investments made in research and development of respiratory therapies have only helped consolidate the market. With the ongoing growth in the aging population and rising disease burden of chronic conditions, the U.S. respiratory devices market is likely to experience intense growth by 2032.
Key Respiratory Devices Companies Profiled in the Report
- Koninklijke Philips N.V.
- Medtronic
- ResMed Inc.
- Fisher & Paykel Healthcare Limited
- Masimo
- Getinge AG
- GE HealthCare
- Baxter
- OMRON Corporation
- Xplore Health Technologies Pvt. Ltd.
Respiratory Devices Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 22.62 billion |
| Market Size by 2032 | US$ 46.10 billion |
| CAGR | CAGR of 8.27% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Analysis
By Type
In 2023 the Therapeutic Devices held the largest share of revenue at 40%. This category includes devices like continuous positive airway pressure (CPAP) machines, oxygen concentrators, inhalers, and nebulizers. The masses of these segments arose due to the increasing rates of COPD and asthma, which require therapeutic interventions. CPAP and BiPAP devices are gaining popularity in sleep apnea management, a condition increasingly diagnosed in the developed world. Oxygen therapy has also been widely used during the COVID-19 pandemic and post-recovery therapy. Others include innovations such as smart inhalers that record patient compliance and portable oxygen concentrators, which facilitate respiratory therapy treatments in hospitals and at home. This segment has continued to evolve with innovations in technology, as well as a growing inclination toward minimally invasive, portable, and user-friendly options among patients.
By End User
The Hospitals and Ambulatory Surgical Centers (ASCs) segment led the market in 2023 with a 39% revenue share. This includes increasing hospital admissions for respiratory conditions, both acute and chronic. Critical respiratory conditions are mainly treated in hospitals where advanced ventilators and diagnostic tools are available in combination with 24/7 medical expertise. The high frequency of surgeries requiring some degree of post-operative respiratory support also contributes to the segment's stronghold. ASCs, while on a smaller scale than hospitals, are investing more in respiratory care infrastructure, especially in developed nations. Such a growing trend acknowledges the early diagnosis and treatment of lung conditions, thus leading to these facilities adopting a wide range of respiratory care technologies.
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Recent Developments
- In March 2024, GE HealthCare made a strategic acquisition of Iradimed Corporation to enhance its offerings for diagnostic and non-invasive respiratory monitoring.
- On the way to strengthen its presence in the global health market, in November 2023, GE Healthcare partnered with Masimo for the integration of SET pulse oximetry technology into its Portrait Mobile platform, a wireless and wearable solution.
Regional Insights
North America continues to remain the leading market with about 36% of the total global revenue in 2023. High healthcare expenditure, a relatively high penetration of new innovative respiratory devices, and favourable reimbursement conditions further bolster this region. Moreover, it continues to provide research and innovation through partnership programs with academic institutions and medical device companies that create patient-centric breathing solutions.
The Asia-Pacific region is growing with the fastest CAGR in the forecast period, owing to the escalating incidence of COPD and asthma. This is aggravated through tobacco use and pollution, and an increasing number of elderly persons in these populated countries. Major countries of concern that invest greatly in healthcare infrastructure and respiratory therapy programs include India, China, and Japan. This goes further to advance through the government initiatives, such as India's National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases & Stroke (NPCDCS), which has some components for respiratory diseases.
Europe accounted for a substantial share of the respiratory devices market due to increasing respiratory disorders, an aging population, and stringent environmental laws aimed at reducing pollution levels. Homecare respiratory therapy devices are in high demand in countries like Germany, France, and the UK, supported by favorable insurance coverage and public health campaigns.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Incidence and Prevalence (2023)
5.2 Prescription Trends, (2023), by Region
5.3 Device Volume, by Region (2020-2032)
5.4 Healthcare Spending, by Region, (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
7. Respiratory Devices Market by Type
8. Respiratory Devices Market by Application
9. Respiratory Devices Market by End-User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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