Respiratory Care Devices Market to Hit $38,085.6 Million Value by 2030, Says P&S Intelligence

News provided by

Nov 29, 2022, 11:25 ET

NEW YORK, Nov. 29, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, in 2021, the respiratory care devices market was around $19,257.2 million, and it is predicted to advance at a 7.9% CAGR from 2021 to 2030, hitting $38,085.6 million in 2030. The major reasons behind the growth of this market are the surging incidence of preterm births and the growing geriatric population.

Furthermore, because of the pandemic, there was a rapid growth in the demand for medical equipment globally, including ventilators and vital signs monitors. During the peak of the pandemic, such devices required to be tailored in order to treat seriously ill patients. For example, patients who needed ventilation for long periods created a massive need for portable ventilators and compact anesthesia devices.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/respiratory-care-devices-market/report-sample

Rapid Urbanization Causing Breathing Problems

The rapid Urbanization has impacted the environment and lifestyle. The UN says that in the 21^st century, cities are home to around 55% of the global population, which is expected to increase to 68% by 2050.

Moreover, according to a WHO report, air pollution leads to over 4 million premature deaths globally every year. The emission of carbon due to the burning of fuels in domestic appliances, motor vehicles, and industrial equipment causes cancers, respiratory diseases, and cardiovascular conditions.

Further, tobacco consumers are most prone to these ailments.

According to the WHO, smoking causes around 42% of the COPD, 10% of CVD, and 71% of lung cancer cases every year.
Furthermore, 80% of smokers globally live in low-income countries, which, in turn, will drive the demand for respiratory care devices here.

Therapeutic Devices Held Largest Revenue Share

Globally, therapeutic devices held the largest revenue share, over 60%, in 2021. The surging frequency of respiratory illnesses and the growing number of operations are boosting the demand for therapeutic devices. For example, globally, over 65 million people are suffering from moderate-to-severe chronic obstructive pulmonary disease, which is propelling the demand for ventilators.

Browse detailed report on Respiratory Care Devices Market Size, Share, Trends and Growth Analysis 2022-2030

Rising Count of Preterm Births Drive Industry Significantly

Preterm births are one the major reasons for infant death, as such babies are likely to suffer from serious diseases because they are not able to breath properly and prone to serious infections and face feeding difficulties.
In South Asia and Africa, the occurrence of preterm births is around 60%, as per the WHO. In all, around 15 million preterm babies are born every year in these regions.
Moreover, globally, the rate of preterm births is 5% to 18%. Additionally, as per a report by the CDC, in the U.S. in 2020, 1 of every 10 births were preterm.

Global Respiratory Care Devices Industry Report Coverage

By Type

Therapeutic

Nitric oxide delivery units
Oxygen hoods
Nebulizers
Positive airway pressure devices
Oxygen concentrators
Ventilators

Portable/transportable ventilators
ICU ventilators

Inhalers
Humidifiers
Resuscitators

Monitoring

Capnography devices
Gas analyzers
Pulse oximeters

Diagnostic

Spirometers
Polysomnography devices
Peak flow meters

By Application

Chronic Obstructive Pulmonary Disease
Sleep Apnea
Asthma
Infectious Diseases

By End User

Hospitals
Homecare Settings
Emergency Centers

Regional Analysis

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain

Asia-Pacific

Japan
China
India
South Korea
Australia

Latin America

Brazil
Mexico

Middle East and Africa

Saudi Arabia
South Africa
U.A.E.

Browse More Reports Published by P&S

Global Biopharmaceutical Market Size, Share and Analysis Report by 2030

Global Mental Wellness Market Size, Share and Analysis Report by 2030

Global Surgical Retractors Market Size, Share and Analysis Report by 2030

Global Life Science Analytics Market Size, Share and Analysis Report by 2030

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

Contact:

Prajneesh Kumar
P&S Intelligence
Phone: +1-347-960-6455
Email: [email protected]
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/1224988/P_and_S_Intelligence_Logo.jpg

SOURCE P&S Intelligence