Therapeutic Respiratory Devices Market size to exceed $64.5 Bn by 2030

Therapeutic Respiratory Devices Market size is anticipated to reach USD 64.5 Billion by 2030, according to a new research report by Global Market Insights Inc.
 

Rising geriatric population to be the key driving force for the market growth, given that this demographic is prone to respiratory ailments like COPD, lung cancer, and asthma. COPD is one of the leading causes of mortality in the elderly population, which leads to oxygen deprivation, breath shortness, and other respiratory-related hospitalizations, increasing the demand for advanced therapeutic respiratory devices.
 

Increasing environmental pollution to stimulate the market expansion

Therapeutic respiratory devices market from oxygen concentrator segment accounted for 12% revenue share in 2021, owing to the increased respiratory ailments caused by the spike in air pollution levels, which is one of the prominent reasons for the occurrence of COPD. The emergence of portable oxygen concentrators that do not entail refilling regularly is also likely to pave the path for segment growth.
 

Rising prevalence of sedentary lifestyles to push the industry development

market size from obstructive sleep apnea (OSA) segment was valued over USD 7 billion in 2021, owing to the increasing instances of smoking among adults. The rising prevalence of obesity and sedentary lifestyles is also a key driving factor. As per the data from the Sleep Foundation, the population of adults susceptible to OSA is 1 billion globally and 2-9% of adults in the U.S., increasing the demand and production of therapeutic respiratory devices for proper diagnosis.
 

Browse key industry insights spread across 330 pages with 504 market data tables & 16 figures & charts from the report, “Therapeutic Respiratory Devices Market Analysis By Product (Positive Airway Pressure (PAP) Devices {Continuous Positive Airway Pressure [CPAP] Devices, Auto-titrating Positive Airway Pressure [APAP] Devices, Bi-level Positive Airway Pressure [BiPAP] Devices}, Oxygen Concentrators {Fixed Oxygen Concentrators, Portable Oxygen Concentrators}, Ventilators {Adult Ventilators, Neonatal Ventilators}, Inhalers {Metered Dose Inhaler [MDI], Dry Powder Inhaler [DPI], Soft Mist Inhaler [SMI]}, Nebulizers {Compressor-based Nebulizers, Piston-based Hand-held Nebulizers, Ultrasonic Nebulizers}, Humidifiers {Heated Humidifiers, Passover Humidifiers, Integrated Humidifiers, Built-in Humidifiers, Standalone Humidifiers}), By Application (COPD, Obstructive Sleep Apnea, Asthma, Respiratory Distress Syndrome, Cystic Fibrosis), By End-use (Hospital, Homecare Settings, Emergency Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/therapeutic-respiratory-devices-market-report
 

Affordability emerges as a major factor in increasing the demand for homecare settings

The homecare settings segment accounted for over 30% business share in 2021, owing to the cost-effectiveness and convenience for the elderly population. The enhanced patient care and on-the-go treatment methods in homecare have increased the inclination of patients toward these settings for respiratory disease treatment. Homecare services facilitate children, women, and the elderly population to avail themselves of enhanced care and facilities right in the comfort of their homes with virtual consultations from healthcare professionals.
 

Medical advancements to strengthen the North America market value

North America therapeutic respiratory devices market registered revenue of over USD 17 billion in 2021, owing to the medical advancements and investments in healthcare infrastructure in the region. The inclination of healthcare units towards new technologies for slowing the disease progression with government funding will foster the regional industry expansion.
 

Acquisition strategies to define the market landscape

Some of the key market players operating in the therapeutic respiratory devices market include Breas Medical AB, Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare, Hamilton Medical, Hill-Rom Services Inc. (Baxter), and others. These companies are focusing on long-standing acquisition strategies to sustain their industry leadership.
 

Citing an instance, in September 2022, Aerin Medical Inc introduced the FDA-approved RhinAer Stylus, which is based on non-invasive radiofrequency technology for treating chronic rhinitis implications like postnasal drip, nasal congestion, and runny nose.