Respiratory Device Accessories Market Size is valued at USD 0.76 Bn in 2023 and is predicted to reach USD 1.39 Bn by the year 2031 at a 7.94% CAGR during the forecast period for 2024-2031.
Respiratory device accessories are significant parts of medical tools that help with all aspects of cardiopulmonary disease care, including diagnosis, management, care, control, treatment, and therapy evaluation. Choosing the right respiratory device accessories is essential for maximizing the effectiveness and comfort of patients with respiratory diseases. It is important to select these accessories according to the individual requirements of the patient, the type of breathing device being utilized, and the advice given by healthcare specialists. Consistent upkeep and substitution of these components are crucial to guarantee the ongoing efficiency and cleanliness of respiratory therapy.
The incidence of contagious respiratory infections drives the need for respiratory care. The pandemic has increased demand for ventilators and PPE, driving the respiratory care devices industry. The respiratory care devices market is predicted to grow due to public and private initiatives including GINA, awareness campaigns, and research funding. Increased respiratory problems due to an aging population, more cigarette smokers, fewer active lives, more pollution, and faster urbanization are pushing the global respiratory care devices market.
The product's failure to avoid fog in locations with dramatic temperature swings or high humidity and the respiratory illness genetic testing market's tight safety and health regulations limit market expansion. Rapid technological advancement has left a scarcity of skilled workers. A shortage of skilled specialists has hurt instrumentation and procedure execution. For a state-of-the-art respiratory illness laboratory, equipment, chemicals, and quality control can be costly. Healthcare providers may avoid building new facilities due to the hefty cost. The high cost of testing facilities may cause inequitable access. Lack of resources may make respiratory illness testing in rural or underserved areas challenging for disadvantaged populations. Additionally, the pandemic has raised COVID-19 testing demand. This was done at the expense of other respiratory problems. The number of tests and resources for respiratory disorders other than COVID-19 may have decreased due to this redirection.
Competitive Landscape
Some Major Key Players In The Respiratory Device Accessories Market:
- Fisher & Paykel Healthcare
- ResMed
- Philips Healthcare
- Getinge
- BD
- Teleflex
- Smith’s Medical, Inc. (ICU Medical, Inc.)
- Ambu A/S
- Medtronic
- Hamilton Medical,
- Dräger
- GE Healthcare
- Lowenstein Medical Technology
- Armstrong Medical (Eakin Healthcare Group)
- Yuwell
- Mindray
- Intersurgical Ltd.,
- Laerdal Medical AS,
- PARI Medical Holding GmbH
- Other Prominent Players
Market Segmentation:
The respiratory device accessories market is segmented based on type and application. Based on type, the market is segmented into breathing circuits, filters, masks, and humidification consumables. The application segment consists of hospitals, households, and clinics.
Based On The Type, The Breathing Circuit Segment Is Accounted As A Major Contributor To The Respiratory Device Accessories Market.
The breathing circuit respiratory device accessories market is expected to lead with a major global market share. The breathing circuit supplies the patient with gas, removes exhaled gas, and regulates the inspired mixture's temperature and humidity. Depending on the situation, it enables either controlled or aided breathing. Airway pressure, flow, volume sensors, and gas sampling ports might be provided.
Household Segment To Witness Growth At A Rapid Rate.
The household segment had generated the highest income due to its greater user-friendliness. Sleep apnea therapies are a significant market for home care breathing devices.
In The Region, The North American Respiratory Device Accessories Market Holds A Significant Revenue Share.
The North American Respiratory Device Accessories market is expected to record the maximum market revenue share in the near future. It can be attributed to the enhanced diagnosis. The respiratory care devices industry is poised for expansion thanks to the right reimbursement rules. In addition, Asia Pacific is likely to grow rapidly in the global respiratory device accessories market because pollution levels in developing countries are rising. It is also expected that the respiratory care devices market in the region will experience growth due to the countries' initiatives.
Recent Developments:
- In November 2023, Becton, Dickinson, and Firm, a world leader in medical technology, recently released needle-free blood draw technology compatible with integrated catheters. This development moves the firm closer to realizing its "One-Stick Hospital Stay" vision.
- In January 2024, GE Healthcare, a world-renowned leader in medical technology, diagnostics, and digital solutions, joined forces with India's preeminent research institution, the Indian Institute of Science (IISc), to form a groundbreaking alliance that will boost healthcare innovation, research, and technological development in India.
Respiratory Device Accessories Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 0.76 Bn |
|
Revenue Forecast In 2031 |
USD 1.39 Bn |
|
Growth Rate CAGR |
CAGR of 7.9 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
|
Competitive Landscape |
Fisher & Paykel Healthcare, ResMed, Philips Healthcare, Getinge, BD, Teleflex, Smiths Medical, Inc. (ICU Medical, Inc.), Ambu A/S, Medtronic, Hamilton Medical, Dräger, GE Healthcare, Lowenstein Medical Technology, Armstrong Medical (Eakin Healthcare Group), Yuwell, and Other Market Players. |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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