Global Forecast for Respiratory Care Devices Market, Extent and Predictions 2024-2030
The respiratory care devices market is poised for significant growth, projected to reach a staggering $33.6 billion by 2030, according to a recent study by Renub Research. This impressive expansion is driven by a robust compound annual growth rate (CAGR) of 7.3% from 2025 to 2030.
Key growth drivers for this market include the rising prevalence of respiratory diseases, home healthcare trends, technological innovations, and the impact of the COVID-19 pandemic.
The global incidence of chronic respiratory conditions such as asthma, COPD, sleep apnea, and infectious respiratory diseases is on the rise, creating a high demand for respiratory care devices. For instance, COPD is the third-leading cause of death worldwide, while asthma affects over 262 million people globally.
Demographic factors also play a significant role, with the aging global population leading to a higher burden of respiratory conditions. Environmental factors, such as increasing levels of air pollution, further exacerbate these ailments, leading to more widespread use of respiratory care equipment.
The pandemic has accelerated investment and awareness around respiratory support technologies, especially ventilators and oxygen therapy devices, creating lasting demand. There is also a growing demand for user-friendly, smart inhalation devices and homecare respiratory equipment to enable self-administration and remote monitoring in patients with chronic respiratory diseases.
Technological advancements are another key factor, with continuous innovations in device design enhancing treatment efficacy and ease of use. Smart and ergonomic respiratory equipment are becoming increasingly popular, propelling market growth.
Oxygen concentrators, in particular, have become prominent in the market due to their role in treating various respiratory conditions and their portability. The Asia Pacific region, including China, Japan, India, South Korea, and Australia, is a key contributor to this market's growth, driven by a developing elderly population and government initiatives.
The study, conducted by Renub Research, based in Roswell, GA, USA, includes analysis of various countries such as South Africa and the United Arab Emirates in the Middle East & Africa region. Renub Research, with over 14 years of experience in Research, Survey, and Consulting, provides data to several leading companies including EMIS, Bloomberg, and Thomson Reuters.
The respiratory care device market is segmented into therapeutic, monitoring, diagnostic, consumables & accessories, and product types like nebulizers, oxygen concentrators, polysomnography devices, pulse oximeters, mechanical ventilators, spirometers, and others. Other notable companies in the market mentioned in the study are Masimo Corporation, ResMed Inc., and Inogen Inc., among others.
As the market continues to evolve, Renub Research remains at the forefront of market analysis, providing insights and perspectives to various blue-chip companies across a wide range of markets. For more information, contact Rajat Gupta, the Marketing Manager at Renub Research, via phone, email, LinkedIn, or their website. The market is anticipated to grow to $38.76 billion by 2030, underscoring its significant potential for growth and innovation.
Science plays a crucial role in the development of solutions for health-and-wellness issues, such as the advancement of respiratory care devices, which is crucial for addressing the rising global incidence of chronic respiratory conditions like asthma, COPD, sleep apnea, and infectious respiratory diseases.
