Global Respiratory Care Devices Market Sets Sights on Balanced Growth: Aiming for ~7-8% by 2028

Posted by Prathamesh on April 25th, 2024

Respiratory care devices are medical devices that diagnose, monitor, and treat respiratory problems. They have an important role in controlling a variety of respiratory conditions, including asthma, COPD, sleep apnea, and pneumonia. Respiratory care devices are roughly categorized into the following categories:

• Diagnostic and Monitoring Devices: These instruments aid in determining lung function and identifying respiratory disorders. Examples are spirometers, peak flow meters, and pulse oximeters.
• Airway Devices: These devices keep the airway open, allowing appropriate oxygen intake. Examples are laryngeal mask airways (LMAs) and endotracheal tubes.
• Nebulizers: These devices convert liquid medications into a mist for easier inhalation, treating respiratory conditions like asthma and cystic fibrosis
• Positive Expiratory Pressure (PEP) Devices: These devices help clear mucus from the airways by creating back pressure during exhalation
• Ventilators: These devices provide mechanical breathing support for patients with severe respiratory failure

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Rising prevalence of Chronic Obstructive Pulmonary Disease (COPD) propels the Respiratory Care Devices market

COPD is a chronic lung disorder that damages the lungs' air sacs and causes long-term airway irritation. According to the World Health Organization (WHO), COPD is the world's third most deadly illness. Today, an estimated 480 million individuals suffer with COPD. According to a study undertaken by the Journal of the American Medical Association (JAMA) Network, COPD prevalence among those 25 and older is estimated to rise by 23% between 2020 and 2050, with women and low- and middle-income nations experiencing the greatest increase. Although COPD is progressive, it is treatable, and proper management and early intervention can provide symptom control, improved quality of life, and reduced risk of associated health problems. For instance,

• In August 2023, TidalSense announced the launch of the regulated AI technology for COPD, which uses the N-Tidal device. The technology combines N-Tidal’s CO2 sensor data, with an artificial intelligence platform that measures changes in lung function that might point towards a diagnosis of COPD. The medical tool can indicate a patient’s risk of COPD within minutes

The Arrival of Advanced Respiratory Care Technologies Fuels the Demand in the Respiratory Care Devices Market

Innovative respiratory solutions powered by technology empower people living with conditions such as asthma, chronic obstructive pulmonary disease (COPD), and obstructive sleep apnea (OSA) by allowing for timely symptom monitoring and the implementation of preventive measures to avoid emergencies. Wearable IoT devices, intelligent inhalers, cloud-based respiratory medicines, and automated CPAP systems are paving the way for respiratory care technology innovation. The incorporation of these cutting-edge technologies into clinical practice has the potential to transform the treatment of respiratory disorders. As a result, continued improvements in respiratory care technology promise to brighten the future for individuals suffering from respiratory ailments. Some of the most recent advances in respiratory care equipment are:

• Smart Inhalers:Smart inhalers are inhaler devices that are outfitted with sensors and connection functions to track drug consumption. These smart inhalers capture data that physicians and doctors may utilize to better understand each patient's needs. These inhalers are used to treat COPD, such as asthma, by delivering bronchodilator drug directly to the airway, without passing through the blood.
• Advanced Algorithms: Digital health technology can help in the diagnosis and management of a variety of chronic respiratory disorders. AI algorithms can evaluate medical imagery, such as chest X-rays, to help in the early detection of respiratory disorders.
• Wearable Devices: Advances in downsizing and mobility have resulted in the creation of tiny respiratory care equipment that patients may easily transport and use on the move. Portable nebulizers, pocket-sized ventilators, and wearable respiratory monitoring help to increase mobility and convenience.
• Telehealth Solutions: Telehealth and remote patient monitoring have become integral in respiratory care. Digital platforms enable healthcare providers to remotely monitor patients with chronic respiratory conditions, optimizing care delivery and allowing for timely interventions
• Non-invasive Ventilation (NIV) Devices: Non-invasive ventilation devices, such as bilevel positive airway pressure (BiPAP) and continuous positive airway pressure (CPAP) machines, continue to see improvements in terms of design, comfort features, and data connectivity, making them more patient-friendly 

Covid-19 Impact on the Respiratory Care Devices Market

The introduction of severe acute respiratory syndrome (SARS) COVID-19 has marked a watershed moment for the respiratory solutions sector. The exceptional need for oxygen concentrators, spirometers, ventilators, positive airway pressure (PAP) devices, and nebulizers has fueled the industry's expansion. Although this rise in demand had a transient but significant influence on the market, it highlighted the critical function that respiratory care devices serve in the field of healthcare.

The pandemic has also accelerated the desire for home-based services over hospitalization, resulting in a dramatic increase in the demand for oxygen cylinders, pulse oximeters, small ventilators, and continuous positive airway pressure (CPAP) machines. Furthermore, those with bronchitis or other respiratory illnesses have taken extra care, as bronchitis is defined as chronic obstructive pulmonary disease (COPD) and has a high risk of SARS-CoV-2 infection, worsening the issue. The increased vulnerability of individuals with respiratory difficulties and other chronic diseases has fueled the need for breathing equipment during the pandemic.

North America Expected to Continue to Hold a Major Share in the Respiratory Care Devices Market

Geographically, North America dominates the respiratory care devices industry. This may be linked mostly to the rising prevalence of respiratory disorders, the increased use of new and improved respiratory care devices, people's sedentary lifestyles, and the region's persistent smoking habits. However, the Asia-Pacific area is predicted to have rapid development in the next years as a result of an aging population, rising air pollution levels, and more innovation in respiratory care equipment in the region.

Competitive Landscape Analysis Respiratory Care Devices

Some of the key players operating in the market include GE Healthcare, Philips Respironics (Philips Healthcare), Masimo Corporation, Hamilton Medical, Smiths Medical, TidalSense, Vyaire Medical, Devilbiss Healthcare Llc, Medtronic PLC,Drägerwerk AG & Co. KGaA,Fisher & Paykel Healthcare Limited, and ResMed Inc., among others.

Organic and Inorganic Growth Strategies are driving Respiratory Care Devices Market

Players operating in this market are adopting organic and inorganic growth strategies such as launching new products, acquiring related firms, and entering collaborations to garner higher market share. For instance,

•   In June 2023, Avanos Medical, Inc. announced that they had entered into a definitive agreement to sell its Respiratory Health (RH) business to SunMed Group Holdings, LLC (SunMed). This deal will give SunMed a strong foothold in the respiratory care market, as Avanos Medical is a leading provider of respiratory care products

The Respiratory Devices Market is expected to rise in the future years, owing to increased approvals for respiratory devices, a shift in focus to more prevalent respiratory disorders, and market players' adoption of aggressive organic and inorganic growth strategies.

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