Global Respiratory Devices And Equipment (Therapeutic) Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

Drivers

• Increasing prevalence of respiratory diseases
• Technological advancements in respiratory devices
• Aging population

• Growing healthcare expenditure - The global respiratory devices and equipment (therapeutic) market is experiencing significant growth, driven by increasing healthcare expenditure worldwide. As governments and private sectors allocate more funds towards healthcare infrastructure, the demand for advanced respiratory care devices has surged. This investment is crucial in addressing the rising prevalence of respiratory diseases such as asthma, chronic obstructive pulmonary disease (COPD), and other conditions exacerbated by air pollution and lifestyle changes. Enhanced healthcare budgets facilitate the procurement of cutting-edge therapeutic equipment, ensuring better patient outcomes and more efficient management of respiratory conditions.

  The expanding healthcare expenditure is enabling more extensive research and development activities in the respiratory care sector. This has led to the introduction of innovative products such as portable oxygen concentrators, high-frequency ventilation systems, and advanced nebulizers. These innovations not only improve the quality of care but also cater to the growing preference for home-based healthcare solutions. The increased funding supports the development and commercialization of these advanced devices, making them more accessible and affordable for healthcare providers and patients alike.

  The rising healthcare expenditure is fostering improved healthcare infrastructure in developing regions, which were previously underserved in terms of advanced medical equipment. This trend is bridging the gap in healthcare quality between developed and developing countries, providing a boost to the global respiratory devices market. Enhanced infrastructure and increased spending on healthcare are critical in ensuring that patients across the globe have access to necessary respiratory therapies, ultimately driving market growth and improving global health outcomes.

Restraints

• High cost of respiratory devices
• Stringent regulatory policies
• Limited reimbursement policies

• Lack of awareness in emerging economies - The global respiratory devices and equipment market is experiencing rapid growth due to rising incidences of respiratory diseases and the increasing aging population. However, a significant challenge impeding its full potential is the lack of awareness in emerging economies. In many developing countries, there is a limited understanding of respiratory health issues and the available therapeutic options. This lack of awareness stems from insufficient healthcare infrastructure, lower educational levels, and a general lack of focus on respiratory health in public health agendas. Consequently, patients often do not seek timely medical advice or appropriate treatments, leading to untreated or poorly managed respiratory conditions.

  Healthcare professionals in these regions may not be adequately trained to recognize and treat respiratory diseases effectively. This gap in knowledge extends to the use and benefits of advanced respiratory devices and equipment. Training programs and professional development opportunities are often limited, resulting in a reliance on outdated or less effective treatment methods. Furthermore, the healthcare systems in emerging economies are frequently underfunded and overburdened, making it difficult to prioritize and integrate new technologies and treatments for respiratory care.

  To address these challenges, increasing awareness and education about respiratory health is crucial. Public health campaigns, community health programs, and the integration of respiratory health education into primary healthcare can play a significant role. Partnerships between governments, healthcare organizations, and private companies can help to disseminate information and provide training for healthcare providers. Additionally, improving access to affordable and effective respiratory devices through subsidies or innovative financing models can help bridge the gap in respiratory care in emerging economies.

Opportunities

• Rising demand in emerging markets
• Growth in home healthcare sector
• Development of portable and wearable respiratory devices

• Strategic collaborations and acquisitions - The global respiratory devices and equipment (therapeutic) market has seen significant strategic collaborations and acquisitions, driven by the increasing prevalence of respiratory diseases and the demand for advanced therapeutic solutions. Major players in the industry are seeking to enhance their product portfolios and expand their market presence through strategic partnerships. For instance, Philips Respironics and Masimo entered into a partnership to integrate advanced non-invasive monitoring technologies into Philips' sleep and respiratory care devices. This collaboration aims to enhance patient monitoring and improve the quality of care provided to individuals with respiratory conditions.

  Acquisitions have also played a crucial role in shaping the landscape of the respiratory devices market. A notable example is ResMed's acquisition of Propeller Health, a digital therapeutics company focused on connected health solutions for respiratory conditions such as asthma and COPD. This acquisition allowed ResMed to integrate Propeller's digital health technology with its own devices, offering patients more comprehensive care management solutions. Such acquisitions not only expand the acquiring company's technological capabilities but also provide access to new customer bases and markets.

  The trend of strategic collaborations extends to research and development efforts aimed at innovation in respiratory therapies. Companies like Medtronic have been actively collaborating with academic institutions and research organizations to develop next-generation respiratory devices. These partnerships facilitate the sharing of knowledge and resources, accelerating the development of innovative products that address unmet medical needs.