According to FutureWise analysis the market for respiratory devices in 2023 is US$ 24.2 billion, and is expected to reach US$ 47.94 billion by 2031 at a CAGR of 8.90%
Respiratory devices are used to help patients with breathing difficulties by enhancing pulmonary functioning and helps in clearing mucus from the airways. These tools are used to control and treat conditions like Chronic Obstructive Pulmonary Disease (COPD), Acute Respiratory Distress Syndrome (ARDS), Fibrosis and Asthma. Given the increased need for respiratory devices as a result of the increase in pollution levels along with COVID-19 pandemic, the market for respiratory devices will have greater room for expansion.
Respiratory diseases are expected to be more common as the world's population matures. Additionally, chronic conditions like COPD and asthma will spread more widely. As a result, the demand for breathing equipment will rise steadily. In recent years, a variety of gadgets have been used by patients with lung illnesses to help clear mucus from the airways and enhance pulmonary performance. The high incidence of respiratory illnesses, ageing populations worldwide, the high rate of smoking, pollution, the increase in preterm births, and alterations in lifestyle are the main factors driving the development of the global respiratory devices market. The need for respiratory treatment immediately rises as a consequence of infectious respiratory illnesses. The market for anaesthesia and breathing equipment has been significantly impacted by the rise in respiratory illnesses like Obstructive Sleep Apnea (OSA). Due to the high incidence of respiratory illnesses, respiratory devices predominate in the market.
Patients using respiratory aids are able to breathe enough oxygen to sustain life while having respiratory issues. Asthma, chronic obstructive pulmonary disease (COPD), TB, and pneumonia are just a few examples of the respiratory disorders that can be diagnosed, monitored, and treated with respiratory care devices. Patients with acute and long-term respiratory illnesses benefit from the improved quality of care these devices offer. With the ageing of the world population and the exponential rise in the prevalence of chronic diseases like COPD and asthma, the prevalence of respiratory illnesses will only continue to rise. Furthermore, there will be an increase in demand for respiratory devices. Various devices that help clear mucus from the airways and enhance pulmonary function have been employed recently by patients with respiratory disorders.
FutureWise Market Research has published a report that provides an insightful analysis of Respiratory Devices Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts projects that Respiratory Devices Market will experience a significant growth. According to the analysis done this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic, and expansion decisions by key stakeholders of an organisation.