The report covers forecast and analysis for the therapeutic respiratory devices market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the therapeutic respiratory devices market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the therapeutic respiratory devices market on a global as well as regional level.
According to the report, global demand for therapeutic respiratory devices market was valued at approximately USD 12.46 billion in 2018, and is expected to generate revenue of around USD 22.15 billion by end of 2025, growing at a CAGR of around 8.6% between 2019 and 2025.
In order to give the users of this report a comprehensive view on the therapeutic respiratory devices market we have included competitive landscape and analysis of Porters Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the therapeutic respiratory devices market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the therapeutic respiratory devices market on global and regional basis.
The study provides a crucial view on the therapeutic respiratory devices by segmenting the market based on product, end user and region. All the segments of therapeutic respiratory devices market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
Therapeutic respiratory devices are used for treating various chronic respiratory conditions such as chronic obstructive pulmonary disease (COPD), chronic bronchitis, asthma, sleep disorders, etc. These devices assist in airway clearance thus improving pulmonary function. Different types of respiratory devices are available such as long-term respiratory devices for intensive care, emergency respiratory devices for rescue applications, and mobile home respiratory devices.
The demand for therapeutic respiratory devices market is driven by increasing occurrence of various respiratory and pulmonary disorders such as asthma, cystic fibrosis, chronic obstructive pulmonary disease (COPD) along with an increasing aging population across the globe. However, lack of patient adherence to treatment and the increasing cost burden of respiratory diseases may hamper the market growth over the forecast period. Untapped markets and technological advancements to improve therapeutic respiratory device efficiency and miniaturization to make them portable are factors that are expected to bring new growth avenues for major market players in the global therapeutic respiratory devices.
Based on the product, global therapeutic respiratory devices market is bifurcated into humidifiers, inhalers, ventilators, obstructive sleep apnea (OSA) devices, and other products. OSA devises product segment accounted for almost two-third of the overall market share in 2018 due to the growing prevalence of sleep disorders such as insomnia, sleep apnea, snoring, etc. OSA devises segment is projected to retain its market share over the forecast period whereas ventilators are expected to register the highest growth due to various factors such as an increasing aging population, a rise in the number of surgeries, preterm births and respiratory diseases. OSA devices product segment is sub-segmented into adaptive servo-ventilators, oxygen concentrators, and PAP devices. Humidifiers are sub-segmented into standalone humidifiers, built-in humidifiers, integrated humidifiers, passover humidifiers and heated humidifiers. The inhalers segment is sub-segmented into metered-dose inhalers (MDIs), nebulizers, and dry powder inhalers (DPIs).
The end-user segment is divided into homecare settings, hospitals, and other end users. The hospitals end-user segment held largest market share due to ease of access, availability of advanced health facilities, equipment, skilled professionals, and increasing number of the patient pool. Homecare settings end users will see the highest growth over the forecast period for the therapeutic respiratory devices market due to the increasing elderly population requiring home healthcare services.
North America dominated the global therapeutic respiratory devices market in 2018. The increasing prevalence of respiratory diseases, increasing aging population, increasing lifestyle changes such as smoking, and environmental factors are expected to drive the market growth in North America. Europe was the second leading regional market. Availability of developed infrastructure, increasing awareness, and growing prevalence of respiratory diseases are major factors that boost market growth in this region. Latin America is estimated to witness moderate growth over the forecast period. Asia Pacific region is projected to see the highest growth for the therapeutic respiratory devices market in the coming years. The increasing aging population, increasing need for portable, easy to use home therapeutic devices for elderly care, lifestyle changes and environmental conditions are factors that fuel Asia Pacific therapeutic respiratory devices market growth. The Middle East and Africa is projected to see considerable growth in the coming years.
Major players included in the report are Smiths Medical, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Teleflex Incorporated, Medtronic, ResMed, Koninklijke Philips N.V., Invacare Corporation, Inogen, Hill-Rom, Hamilton Medical, GE Healthcare, Fisher & Paykel Healthcare Limited, Compumedics Limited, Becton, Dickinson and Company, Breas Medical, and AirSep Corporation among others.
The report segment of the global therapeutic respiratory devices market as follows:
Global Therapeutic Respiratory Devices Market: By Product
Obstructive Sleep Apnea (OSA) Devices
- PAP Devices
- Oxygen Concentrators
- Adaptive Servo-ventilators
- Metered Dose Inhaler (MDI)
- Dry Powder Inhaler (DPI)
- Heated Humidifiers
- Passover Humidifiers
- Integrated Humidifiers
- Built-in Humidifiers
- Standalone Humidifiers
Global Therapeutic Respiratory Devices Market: By End User
- Homecare Settings
- Other End Users
Global Therapeutic Respiratory Devices Market: By Region
In September 2020, GlaxoSmithKline plc (LSE/NYSE: GSK) and Innoviva, Inc. (NASDAQ: INVA) announced the US Food and Drug Administration (FDA) has approved a new indication for Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol ˜FF/UMEC/VI) for the treatment of asthma in patients aged 18 years and older adding to its current license for use in patients with chronic obstructive pulmonary disease (COPD). Trelegy Ellipta is not indicated for the relief of acute bronchospasm.
The FDA-approved strength for both COPD and asthma is fluticasone furoate / umeclidinium / vilanterol 100/62.5/25mcg. There is an additional strength for asthma alone which is fluticasone furoate / umeclidinium / vilanterol 200/62.5/25mcg.
The approval means Trelegy is the first single inhaler triple therapy approved for the maintenance treatment of both asthma and COPD and is the only single inhaler triple therapy available for patients in a convenient once-daily inhalation in the US. The approval is an important advance for patients as it allows them to benefit from triple therapy by using one inhaler, once-a-day.
Trelegys approval for the maintenance treatment of asthma in patients aged 18 years and older introduces a new paradigm for managing the approximately 30% of adult asthma patients who still experience symptoms despite being adherent to inhaled corticosteroids/ long-acting beta-agonist (ICS/LABA) combination therapy.
In the US there are almost 20 million adults living with asthma and many of those continue to live with and adapt their lives around ongoing symptoms.
FF/UMEC/VI is a combination of three molecules in a single inhaler that only needs to be taken in a single inhalation, once a day. It contains fluticasone furoate, an inhaled corticosteroid, umeclidinium, a long-acting muscarinic antagonist; and vilanterol, a long-acting beta2-adrenergic agonist, delivered in GSKs Ellipta dry powder inhaler.
- North America
- Asia Pacific
- Latin America
- Middle East and Africa