Respiratory Oxygen Delivery Devices Market to Grow with a CAGR of 7.71% through 2029

Patient-centric care, expanding healthcare budgets, and heightened awareness are expected to drive the Global Respiratory Oxygen Delivery Devices Market growth in the forecast period, 2025-2029

 

According to TechSci Research report, “Respiratory Oxygen Delivery Devices Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Respiratory Oxygen Delivery Devices Market stood at USD 12.38 billion in 2023 and is anticipated to grow with a CAGR of 7.71% in the forecast period, 2025-2029. The rise in healthcare expenditure is a contributing factor to this trend. Increased healthcare spending globally, particularly in emerging markets, has resulted in enhanced availability and affordability of advanced respiratory oxygen delivery devices. This financial commitment to healthcare infrastructure and technological advancements has improved access to respiratory care.

Also, the global focus on sustainability is impacting the medical device sector, including respiratory oxygen delivery devices. Manufacturers are developing products with reduced environmental footprints, such as lower energy consumption and increased recyclability. These sustainable devices not only benefit the environment but also appeal to environmentally conscious patients and healthcare systems.           

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Respiratory Oxygen Delivery Devices Market”

Continuous efforts to improve healthcare infrastructure in developing regions, along with increased awareness of the importance of timely and appropriate respiratory care, are driving the market for respiratory oxygen delivery devices. The convergence of medical needs, advancing technology, and expanded healthcare accessibility collectively acts as a catalyst for market growth. Highlighted in a CDC health advisory and media briefing from November 2022, the United States experienced a rise in respiratory syncytial virus (RSV) cases in 8 out of 10 public health regions. This was particularly concerning for young children, with RSV being responsible for around 100 respiratory-related deaths annually in children under 1, surpassing risks posed by influenza.

While RSV infections commonly affect children up to age 2, older children are also susceptible to severe infections. Annual statistics in the U.S. illustrate RSV's impact, including 2.1 million outpatient visits for children under 5 and 58,000 to 80,000 hospitalizations in the same age group. Additionally, healthcare professionals noted an unexpected surge in RSV cases during the Fall 2022-Spring 2023 season, compounding challenges faced by healthcare institutions already dealing with increased influenza and COVID-19 cases. Furthermore, the CDC's November 2022 report revealed a substantial rise in positive RSV antigen and PCR tests compared to 2021. It's crucial to note RSV's impact on adults aged 65 and older, resulting in 60,000 to 120,000 hospitalizations in this age group. The increased hospitalizations, outpatient visits, and severity of RSV cases highlight the growing demand for efficient respiratory care and oxygen delivery devices. This demographic shift towards a globally increasing elderly population presents significant growth opportunities for the market. As this age group faces a heightened risk of respiratory issues, including chronic conditions, demand for reliable and effective respiratory treatment is expected to rise.

For instance, according to a 2020 article published by the United States Census Bureau, the Asian population exceeded 4.5 billion individuals, including major nations such as China and India, each with populations exceeding one billion. This accounts for over half of the global population. Within this demographic, an estimated 414 million Asians were aged 65 or older, surpassing the entire population of the U.S. by around 20%. Furthermore, the analysis projected that by 2060, the number of Asians aged 65 and above would exceed 1.2 billion. This forecast indicates a future where one in every 10 individuals globally will be a senior citizen in Asia.

The COVID-19 pandemic significantly accelerated market growth. The virus's severe respiratory impact led to a surge in cases requiring oxygen therapy, driving demand for devices like ventilators and oxygen concentrators in hospitals and ICUs. The need for extended oxygen therapy in patients with complications such as acute respiratory distress syndrome (ARDS) and pneumonia further fueled this demand. The trend towards home-based care for mild cases also increased interest in portable oxygen concentrators. The pandemic expedited research and innovation, resulting in advanced respiratory care technologies. Overall, COVID-19 underscored the importance of respiratory support, catalyzing market expansion and the development of more effective oxygen delivery solutions, thus increasing demand for respiratory oxygen delivery devices and driving market growth.

The Global Respiratory Oxygen Delivery Devices Market is segmented into product, end-use, regional distribution, and company

Based on its end use, the Hospital category was the market leader in 2023, In 2023, the hospitals sector garnered the largest revenue share and is anticipated to maintain its dominant position in the industry throughout the forecast period, boasting the highest Compound Annual Growth Rate (CAGR). Hospitals play a pivotal role as primary centers for diagnosing and treating various respiratory conditions and diseases, including acute respiratory infections and chronic obstructive pulmonary disease (COPD). The increasing prevalence of these respiratory ailments has spurred a heightened demand for effective respiratory oxygen delivery devices, thereby driving the need for such devices. Also, hospitals cater to a diverse patient population, encompassing individuals with compromised immune systems and respiratory vulnerabilities. Additionally, ongoing efforts to manage and prevent respiratory infections, particularly in the wake of global health crises like COVID-19, have prompted hospitals to bolster their respiratory protection measures. This entails the widespread adoption of respiratory oxygen delivery devices to ensure optimal patient care and infection control.

Based on region, North America is poised to witness fastest market growth in the Global Respiratory Oxygen Delivery Devices Market. North America possesses a leading position in global healthcare infrastructure, boasting advanced hospitals, clinics, and medical centers equipped with state-of-the-art technologies and respiratory care devices. This robust infrastructure enables healthcare providers to deliver top-tier respiratory care services, thereby fueling the demand for respiratory oxygen delivery devices.

Also, the region serves as a focal point for medical device innovation and technological progression. Prominent manufacturers in North America consistently allocate resources towards research and development endeavors aimed at crafting cutting-edge respiratory oxygen delivery devices. These devices exhibit advanced functionalities, heightened efficiency, and improved patient comfort, resulting in widespread adoption across healthcare facilities in the region.

North America contends with a notable burden of respiratory diseases, encompassing conditions such as asthma, chronic obstructive pulmonary disease (COPD), and respiratory infections. Contributing factors such as air pollution, prevalent smoking habits, and an aging populace contribute to the elevated prevalence of these ailments. Consequently, there exists an escalating demand for respiratory oxygen delivery devices to effectively manage these respiratory conditions. The aging demographic in North America is undergoing rapid expansion, leading to a heightened prevalence of chronic respiratory disorders among older individuals. With advancing age, susceptibility to respiratory illnesses increases, often necessitating oxygen therapy to alleviate symptoms and enhance quality of life. The burgeoning population of elderly individuals in the region serves as a significant driver for the demand for respiratory oxygen delivery devices.

Major companies operating in Global Respiratory Oxygen Delivery Devices Market are:

• GE Healthcare Technologies Inc
• Koninklijke Philips NV
• ICU Medical Group Ltd (Smiths Medical Group Ltd)
• Invacare Corp
• Medtronic PLC
• Fisher & Paykel Healthcare Limited 
• ResMed Inc
• CAIRE Inc
• Linde Plc
• Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

 

Download Free Sample Report

Customers can also request for 10% free customization on this report

 

“As the market continues to evolve, the focus is not just on improving the effectiveness of treatment but also on empowering patients to take charge of their health. The future of the global respiratory oxygen delivery devices market holds exciting opportunities for innovation, better patient outcomes, and a more patient-centered approach to respiratory care,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Respiratory Oxygen Delivery Devices Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029 Segmented By Product (Oxygen Masks, Nasal Cannula, Venturi Masks, Non-rebreather Masks, Bag Valve Masks, CPAP Masks, Others), By End-use (Hospitals, Outpatient Facilities, Home Care, Others), By Region, and By Competition, 2019-2029F”, has evaluated the future growth potential of Global Respiratory Oxygen Delivery Devices Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Respiratory Oxygen Delivery Devices Market.

Contact

TechSci Research LLC

420 Lexington Avenue, Suite 300,

New York, United States- 10170

Tel: +1-332-258-6602

Email: [email protected]

Website: www.techsciresearch.com