Respiratory Device Market

The global respiratory device market accounted for USD 4.37 billion in 2023 and is expected to reach USD 8.30 billion by 2034 with a CAGR of 6.01% during the forecast period 2024-2034. The market will grow as a result of factors such as the rising prevalence of respiratory disorders, technological advancements, an aging population, increased awareness and diagnosis, and an increase in strategic alliances and collaborations.

Chronic respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD), asthma, and sleep apnea are becoming increasingly common around the world. According to the World Health Organization (WHO), COPD is the third leading cause of death globally. The aging population is a major contributor to this rise, as these conditions are more prevalent among older adults. For instance, in October 2023, SnapWorx, a developer of virtual care platforms, was announced as being acquired by ResMed.

By type, the metered-dose inhalers (MDIs) segment accounted for the highest revenue-grossing segment in the global respiratory device market in 2023 owing to the increased demand for efficient and portable asthma and COPD management solutions. For instance, Philips announced the release of the new Trilogy Evo portable ventilator in December 2023. Additionally, the dry powder inhalers (DPIs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising preference for breath-actuated devices and advancements in drug delivery technologies.

By route of administration, the inhalation segment accounted for the highest revenue-grossing segment in the global respiratory device market in 2023 owing to the increased prevalence of respiratory diseases and the growing adoption of inhalation therapy as a preferred treatment method. For instance, Fisher & Paykel Healthcare announced the release of the Vitera N2 Nasal Mask in November 2023. Additionally, the intravenous segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding applications in critical care treatments and advancements in intravenous drug delivery systems.

By indication, the asthma and COPD segment accounted for the highest revenue-grossing segment in the global respiratory device market in 2023 owing to the growing prevalence of asthma and COPD worldwide and the increasing adoption of respiratory devices for management and treatment. For instance, Smiths Medical announced the release of the CADD-Solis VIP ambulatory infusion pump in March 2023. Additionally, the sleep apnea devices segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising awareness about sleep apnea disorders, technological advancements in diagnostic tools, and increasing prevalence of sleep-related breathing disorders.

By distribution channel, the hospital pharmacies segment accounted for the highest revenue-grossing segment in the global respiratory device market in 2023 owing to the increasing demand for respiratory devices in hospitals for acute care and management of respiratory conditions. For instance, Invacare Corporation announced the release of the new Invacare Platinum Mobile Oxygen Concentrator in November 2023. Additionally, the online pharmacies segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing consumer preference for convenient and accessible healthcare solutions, along with the increasing digitalization of healthcare services.

North American region is anticipated to have the highest revenue share during the forecast period owing to the region's advanced healthcare infrastructure, high prevalence of respiratory diseases, and strong adoption of innovative respiratory devices. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the region's expanding population, increasing awareness about respiratory health, and rising investments in healthcare infrastructure and technologies. For instance, Hamilton Medical announced the release of the new Hamilton-C1 Neo Neonatal Ventilator in April 2023.

This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.

Report Scope:

• Base Year: 2023
• Forecast Period: 2024-2034
• Study Coverage
• Market Forecast by Type, Route of Administration, Indication, and Distribution Channel
• Market Forecast for 5 Regions and 17+ Countries
• North America (U.S. and Canada)
• Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
• Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
• Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
• MEA (South Africa, GCC, Rest of MEA)
• Exhaustive Company Profiles of the Top 10+ Major Market Players

Segmentation: Respiratory Device Market Report 2023 - 2034

Respiratory Device Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)

• Epinephrine (adrenaline)
• Norepinephrine (noradrenaline)
• Dopamine

Respiratory Device Market Analysis & Forecast by Route of Administration 2023 - 2034 (Revenue USD Bn)

• Intravenous
• Inhalation
• Transdermal
• Other Routes of Administration

Respiratory Device Market Analysis & Forecast by Indication 2023 - 2034 (Revenue USD Bn)

• Anaphylaxis
• Cardiac Arrest
• Shock
• Acute Asthma
• Hypertension
• Other Indications

Respiratory Device Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Respiratory Device Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Australia
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of LATAM
• Middle East & Africa
• South Africa
• GCC
• Rest of MEA