According to FutureWise analysis the market for Therapeutic Respiratory Devices in 2023 is US$ 19.14 billion, and is expected to reach US$ 31.25 billion by 2031 at a CAGR of 6.30%.
During respiratory treatments, therapeutic respiratory devices are largely utilised to improve pulmonary functions by cleaning the airway, increasing lung oxygen intake capacity, and assisting with mucus evacuation from the bronchi. These respiratory devices are also used to aid in the treatment of a variety of chronic illnesses linked to respiratory problems. Chronic obstructive pulmonary disease (COPD), bronchitis, sleep problems, asthma, and other chronic diseases are among them. These devices are available in a variety of types, each with a slightly different application purpose, such as long-term respiratory devices used primarily in intensive care, mobile home respiratory devices used in homecare settings, and portable respiratory devices used in an emergency to provide point-of-care assistance. These devices are also used to facilitate and improve respiratory function in newborns during post-natal care, particularly in the case of preterm births, post-partum difficulties, and related diseases, due to their wide range of applications. The primary drivers of market expansion for therapeutic respiratory devices are a growing frequency of respiratory disorders and chronic conditions with respiratory dysfunction, an ageing population, and recent technical advancements. Furthermore, increased use of respiratory function regulators such as nebulizers, humidifiers, and oxygen concentrators in emergency healthcare settings would drive up demand for these devices.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Therapeutic Respiratory Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Therapeutic Respiratory Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.