Global Therapeutic Respiratory Device Market Size To Worth USD 28.6 Billion by 2030 | CAGR of 6.15%
Category: HealthcareGlobal Therapeutic Respiratory Device Market To Worth $28.6 Billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Therapeutic Resipartory Device Market Size to grow from USD 19.4 Billion in 2021 to USD 28.6 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 6.15% during the forecast period.
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Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Therapeutic Respiratory Devices Market Size, Share, and COVID-19 Impact Analysis By Product (nebulizer, humidifiers, oxygen concentrators), By Technology (electrostatic filtration, HEPA filter technology, hollow fiber filtration, microsphere separation), By Filters (nebulizers filters, humidifier filters, positive airway pressure devices filter, oxygen concentrator filters, ventilators filters), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030". Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/therapeutic-respiratory-devices-market
Therapeutic Respiratory Devices are mostly utilised in respiratory therapeutic treatments to help clear the airways of mucus and perform therapies to improve pulmonary functions. These kinds of equipment are used to help with respiratory issues. Bronchitis, respiratory obstructory pulmonary disease, sleep disturbances, asthma, and other chronic illnesses are examples of the ailments. The availability of such devices allows for the provision of point-of-care support during emergencies. These devices include mobile respiratory units used in home healthcare settings, portable respiratory units, and intensive care units. Therapeutic respiratory devices are employed when improving and facilitating respiratory functions in children during postnatal care due to their use in several applications.
COVID 19 Impact
Different pharmaceutical and biotechnology companies, as well as healthcare facilities, have placed a strong emphasis on safety gear (facial shields, PPE kits, masks), diagnostic kits, drugs, and treatment regimens against the virus in response to the COVID 19 outbreak. In addition, research and development facilities have been concentrating on developing a fresh vaccine to combat the virus. People who have bronchitis should also take extra precautions because it is a COPD-related condition.
The recent rise in the number of elderly persons has had a favourable effect on the global market for therapeutic respiratory equipment. The market is expanding due to the rising prevalence of respiratory illnesses. Additionally, the COVID 19 outbreak has positively benefited the market because to the rise in cases. In addition, rising cigarette smoking rates and excessive pollution levels are driving the market's expansion. Additionally, the market is being driven by nose and chest injuries that result in respiratory issues because of growing exposure to accidents and airborne infections. Over the course of the projected period, it is anticipated that the introduction of smart inhalers would present attractive growth prospects for the market.
Because there is a significant underdiagnosed and undertreated population as a result of lack of knowledge, the development of therapeutic respiratory devices is to some extent constrained. The market has seen a shortage of reimbursements for certain diagnostic procedures.
Product Insights
Oxygen Concentrators segment to dominate the market over the forecast period
Based on product, the global therapeutic respiratory devices market is segmented into nebulizer, humidifiers, oxygen concentrators. Anong these, the oxygen concentrators segment is anticipated to dominate the market over the forecast period. The primary factors driving the segmental expansion include the rising prevalence of respiratory disorders, the rising prevalence of tobacco use, the rising demand for home oxygen therapy, and technical advancements. In addition, the COVID 19 pandemic has increased demand for respiratory care devices like concentrators.
Technology Insights
HEPA filter segment holds the largest market share over the forecast period
On the basis of technology, the global therapeutic respiratory devices market is segmented into c. Among these, HEPA filter segment holds the largest market share over the forecast period. To eliminate particles and retain various therapeutic respiratory devices, HEPA filters are used. Based on CDC guidelines, therapeutic equipment should have HEPA air filtering technology. HEPA filters, according to the U.S. Department of Energy (DOE), eliminate 99.97% of all particles larger than 0.3 microns.
Filters Insights
Humidifier filters is dominating the market over the forecast period
Based on filters, the global therapeutic respiratory devices market is segmented into nebulizers filters, humidifier filters, positive airway pressure devices filter, oxygen concentrator filters, ventilators filters. Among these, humidifier filters segment is dominating the market with the largest market share over the forecast period. The increase in demand for them for various medicinal purposes is blamed for the surge. Since filters aid in avoiding the growth of germs and fungus in the circulating air, it is projected that rising demand for humidifiers in healthcare facilities, homes, schools, and hospitals will fuel market growth.
Regional Insights
North America is dominating the market with the largest market share over the forecast period
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With the largest market share over the forecast period, North America will continue to rule the industry thanks to favourable outpatient treatment reimbursement, economic expansion brought on by expanding insurance coverage, U.S. healthcare centre accounts, improved healthcare systems, and growing medical knowledge. On the other hand, the Asia Pacific region is predicted to experience the fastest market growth throughout the forecast period due to technological improvements and the rising prevalence of disorders like asthma in both children and adults. The regional market is also being driven by the rising demand for oxygen concentrators in home healthcare settings.
Major vendors in the Global Therapeutic Respiratory Device Market are Becton, Dickinson and Company, Getinge AB, Fisher & Paykel Healthcare Limited, GE Healthcare, Draegerwerk AG & CO.KGAA, Invacare Corporation, Medtronic, Koninklijke Philips N.V.3, ResMed, Smiths Medical.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Therapeutic Respiratory Devices Market based on the below-mentioned segments:
Therapeutic Respiratory Devices Market, Product Analysis
- Nebulizers
- Humidifiers
- Oxygen Concentrators
- Positive Airway Pressure Devices
- Ventilators
- Capnographs
- Gas Analyzers
Therapeutic Respiratory Devices Market, Technology Analysis
- Electrostatic filtration
- HEPA filter technology
- Hollow fiber filtration
- Microsphere separation
Therapeutic Respiratory Devices Market, Filter Analysis
- Nebulizers filters
- Humidifier filters
- Positive airway pressure devices filter
- Oxygen concentrator filters
- Ventilators filters
Therapeutic Respiratory Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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