Therapeutic Respiratory Devices Market worth USD 58 Billion By 2028: Global Market Insights Inc.

Therapeutic Respiratory Devices Industry anticipated to register 3.7% CAGR from 2022 to 2028 owing to rising incidences of respiratory diseases.

SELBYVILLE, Del., March 15, 2022 /PRNewswire/ -- Global therapeutic respiratory devices market value is projected to surpass USD 58 billion by 2028, according to a new research report by global market insights inc. Rising geriatric population and increasing prevalence of respiratory diseases will drive the overall industry growth.

Technological advancements in respiratory devices influence patients to use convenient, low-maintenance, and user-friendly devices for the treatment of various pulmonary and respiratory diseases. Product available in the market including FreeStyle Comfort portable oxygen concentrator, Volara System and Synclara Cough System. Such product innovation has increased the application of therapeutic respiratory devices in mild as well as chronic respiratory conditions. Moreover, portable and miniatured therapeutic respiratory devices, are rapid and cost-effective also it can be used outdoor without physician's constant guidance. Thus, various ongoing technological innovations in therapeutic respiratory devices will accelerate industry outlook.

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Therapeutic respiratory devices market from inhalers segment is expected to exhibit 4% CAGR during the analysis timeframe. Respiratory inhalers are mostly used to inhale prescribed medication that are important part of the treatment for chronic lung disorders. There are several products that deliver medicine directly to the airways including dry powder inhalers, metered-dose inhalers, soft mist inhaler and nebulizers. The demand for inhalers has increased as they are easy to use and cause less irritation. However, there is rising adoption of digitally operated inhalers. Such smart inhalers can be connected with mobile and help the patients to monitor dosage remainder and medication schedules. Such ease in use of these inhalers will flourish the segmental market demand.

Some major findings of the therapeutic respiratory devices market report include:

• Surging demand for advanced respiratory devices in developed countries will foster the business landscape.
• Industry players are focusing on R&D activities for introduction of innovative therapeutic respiratory devices will further drive the business expansion.
• North America market held significant revenue share in 2021 and is poised to grow noticeably over the foreseeable timeline.
• High cost of devices and delays in product approvals will hamper market statistics.
• The COVID-19 impact on the therapeutic respiratory diseases is observed to be positive.

Browse key industry insights spread across 374 pages with 504 market data tables & 16 figures & charts from the report, "Therapeutic Respiratory Devices Market Analysis By Product (Positive Airway Pressure (PAP) Devices, Oxygen Concentrators, Ventilators, Inhalers, Nebulizers, Humidifiers), Application (COPD, Obstructive Sleep Apnea, Asthma, Respiratory Distress Syndrome, Cystic Fibrosis), End-use (Hospital, Homecare Settings, Emergency Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/therapeutic-respiratory-devices-market-report 

Therapeutic respiratory devices market from asthma segment surpassed USD 13 billion in 2021. Asthma is a condition characterized by inflamed and constricted airways that leads to shortness of breath, wheezing, and cough. In addition, according to the World Health Organization (WHO), in 2020, more than 4,61,000 people died from asthma globally. To alleviate the global burden, the government and commercial healthcare organizations have expanded their investments in the development of new asthma treatments. Such scenario is probable to drive demand for therapeutic respiratory devices.

Emergency centers segment accounted for 28.5% market share in 2021. The segmental growth is attributed to the rising prevalence of respiratory diseases along with the growing need for critical patient care. According to the Center for Disease Control and Prevention report, every year, approximately 136 million patients visit emergency rooms in the U.S. Furthermore, emergency centers are equipped with experienced physicians and crisis management teams. These teams are thoroughly trained and prepared for emergencies. Such advantages lead to business expansion.

Asia Pacific therapeutic respiratory devices market held around USD 11 billion in 2021 on account of the rising prevalence of asthma and increased government funding in research and development. Rise in overall healthcare expenditure driven by disposable incomes and lifestyle changes have further increased the demand for therapeutic respiratory devices. Moreover, rising prevalence of tobacco smoking in this region coupled with rise in demand for home healthcare institutions will positively promote the market expansion over the analysis timeframe.

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Some of the prominent business players operating in therapeutic respiratory devices industry include Aerin Medical, BMC Medical Co., Ltd., Breas Medical, CAIRE Inc., CareFusion Corporation, Covidien Plc, DeVilbiss Healthcare GmbH (Drive DeVilbiss International), Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare Limited, GE Healthcare, Hamilton Medical, Hill-Rom Services Inc., Inogen, Inc., Invacare Corporation, Koninklijke Philips N.V., Medtronic, Smiths Medical, Teleflex Incorporated, VYAIRE MEDICAL, INC., and WEINMANN Emergency Medical Technology GmbH + Co. KG among others.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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