Respiratory device market to reach USD 69,072.5M by 2034

Respiratory devices market have made significant strides in recent years due to the combination of novel therapies used to treat COPD and asthma and industry-academia collaboration. The COVID-19 pandemic has also highlighted the importance of these devices in mitigating the spread and severity of respiratory illnesses. As a result, the market valuation of respiratory devices to reach an astounding US$ 26,873.7 million in 2024.

Companies engaged in the manufacturing and distribution of respiratory devices are focusing on creating equipment that is not only efficient but also reasonably priced for the general public. Despite the emergence of alternative treatments and methodologies, the respiratory device market is expected to exceed a valuation of US$ 69,072.5 million by the end of 2034.

Governments in underdeveloped and developing nations are implementing medical inclusion policies, which are enabling a significant number of people to access respiratory devices. An outstanding growth of 9.90% CAGR through 2034 is expected, making the prospects of the respiratory device market very lucrative.

“To meet the growing demands, companies in the respiratory device market are putting immense research and development hours in curating breathing aids that are not only effective but also affordable to the general populace.” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Key Takeaways from the Respiratory Device Market Study:

• The positive airway pressure device segment dominates the market with a share of 31.30% in 2024.
• Based on the end users, the hospital segment leads the respiratory device market with a share of 40.70% in 2024.
• The respiratory device market in Germany is anticipated to progress at a CAGR of 12.10% through 2034.
• The respiratory device market in France is estimated to rise at an 11.90% CAGR through 2034.
• The respiratory device market in India has the potential to increase at 11.40% CAGR through 2034.
• The Canada respiratory device market is predicted to rise by 10.30% CAGR through 2034.
• The respiratory device market in Mexico is very likely to develop at a CAGR of 10.10% through 2034.

Competitive Landscape in the Respiratory Device Mark<et:
The market is well-established, with numerous companies competing for international dominance.

• Hospitals, ambulatory surgical centers, clinics, and other healthcare facilities rely heavily on these companies for their respiratory needs.
• These companies are investing billions of dollars into developing effective and affordable product offerings for the general public.
• Some of the leading companies in the market include Massimo Corporation, Teleflex Incorporated, Fisher & Paykel Healthcare Limited, ResMed Inc., Hamilton Medical AG, Medtronic plc, and Koninklijke Philips N.V.

Recent Developments from the Respiratory Device Market:

• ResMed launched AirCurve 11 series with bilevel-positive airway pressure devices in Feb 2024.
• BOB, a tool unlocking respiratory data from devices, was developed by researchers from the University of Canterbury in Aug 2023.
• Dräger was awarded Frost & Sullivan’s Company of the Year Award in global respiratory care in Feb 2024.
• University Medical Devices secured $1.6 million in seed funding to launch MicroWash, a nasal specimen collection device, in Feb 2024.
• Clario acquired AI-powered software company ArtiQ in Apr 2024 to enhance data quality and patient experience in respiratory clinical trials.
• SunMed acquired Avanos Medical’s respiratory health business for $110 million in June 2023.
• ResMed acquired Somnoware, a software maker specializing in sleep and respiratory diagnostics, in Jul 2023.
• AirPhysio launched respiratory devices in Chennai, India in Oct 2022, partnering with Medsmart and Apollo Group for the rollout.

Top Key Companies in the Respiratory devices market:

1. Massimo Corporation
2. Teleflex Incorporated
3. Fisher & Paykel Healthcare Limited
4. ResMed Inc.
5. Hamilton Medical AG
6. Medtronic plc.
7. Koninklijke Philips N.V.
8. Smith’s Medical
9. General Electric Healthcare Limited
10. Drägerwerk AG & Co. KGaA
11. Inogen Inc.

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