(EMAILWIRE.COM, November 29, 2023 ) The report “Respiratory Care Devices Market by Product (Therapeutic (CPAP, Ventilator, Nebulizer, Inhaler), Pulse Oximeter, Spirometer), Indication, End User, Key stakeholders & Expectations, Unmet needs, Buying Criteria, Reimbursement – Global Forecast to 2028″, is projected to reach USD 31.8 billion by 2028 from USD 21.8 billion in 2023, at a CAGR of 7.8% during the forecast period. Growth in this market can primarily be attributed to the Focus on improving patient outcomes and rising R&D investments resulting in technologically advanced devices. Respiratory therapists use several approaches to improve patients’ respiratory health and overall outcome. For instance, incentive spirometry is an exercise to assist patients by taking long and deep breaths to gauge how well the lungs expand. Since it needs deep breaths, it will enhance the patient’s ability to clear mucus from the lungs. Such activities are taught by therapists to patients, which propels the demand for respiratory care devices.
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The pulse oximeters segment holds the major share of the respiratory care monitoring devices market.
Based on product, the respiratory care monitoring devices market is segmented into pulse oximeters, capnographs and gas analyzers. The pulse oximeters segment accounted for the largest share of the respiratory care monitoring devices market in 2022. A large share of the pulse oximeters segment can be attributed to the development of innovative products, such as fingertip pulse oximeters & Bluetooth-enabled pulse oximeters, and their growing uptake.
The hospitals segment holds the major share of the respiratory care devices market.
Based on end user, the respiratory care devices market is segmented into hospitals, home care settings, ambulatory care centers (ACCs), other end users. The hospitals segment holds the major share of the respiratory care devices market. Growing public-private partnerships to improve access to healthcare servicesalong with rapid developments in healthcare infrastructure and improving access to healthcare servicesare expected to be the key factors driving the growth of the respiratory care devices market for hospitals in emerging economies in the coming years.
North America segment accounted for the largest share of the respiratory care devices market.
The global respiratory care devices market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America dominated the respiratory care devices market in 2022. The presence of advanced healthcare infrastructure and high healthcare expenditure in the North America are factors expected to drive the growth of the respiratory care devices market in the country. The high prevalence of asthma is expected to drive the demand for respiratory care devices in the US during the forecast period.
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The major players in the respiratory care devices market include Koninklijke Philips N.V. (Netherlands), General Electric Healthcare (US), ResMed Inc. (US), Fisher & Paykel Healthcare Corporation Limited (New Zealand), Medtronic plc (Ireland), Masimo Corporation (US), Drägerwerk AG & Co.(Germany), Getinge AB (Sweden), Nihon Kohden Corporation (US), Vyaire Medical (US), Hill-Rom, Inc. (US), AdaptHealth LLC (US), Rotech Healthcare, Inc. (US), Teleflex Incorporated(Japan), Air Liquide (France), Invacare Corporation (US), ICU Medical Inc. (US), Hamilton Medical AG (Switzerland), Apex Medical Corporation (Taiwan), Apex Medical Corporation (US), HUM GmbH (Germany), Nonin Medical (US), Allied Healthcare Products, Inc. (US), Drive DeVilbiss Healthcare (US), OMRON Healthcare, Inc. (Japan).