The global respiratory humidifying equipment market size was evaluated at $8.1 billion in 2022 and is slated to hit $15.1 billion by the end of 2030 with a CAGR of nearly 7.5% between 2023 and 2030.
The study is a vital resource for understanding the market and its many prospects, threats, and problems. The study on respiratory humidifying equipment includes a thorough analysis of the competitive landscape in addition to a discussion of the geographical market. Also included are analyses such as PESTEL, SWOT, Porter’s five forces, value chain, cash flow, profit ratios, market basket, market attractiveness, and more. To further aid businesses in making educated decisions, the study analyses the respiratory humidifying equipment market from the perspective of investors and key stakeholders.
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Market Analysis of Respiratory Humidifying Equipment
Humidification is guaranteed by respiratory humidifying equipment, which also provides patients with respiratory treatment in the form of a high-flow mixture of warm oxygen and air. It raises patients’ oxygen levels by providing the right concentration of oxygen. Medical systems that provide patients with heated moisture and oxygen-rich air often use such devices. Artificial respiration patients can benefit from the warming and humidifying capabilities of respiratory humidifying devices. U.S. medical equipment manufacturer Teleflex Inc. purchased fellow American company Vascular Solutions, Inc. in the first half of 2017 to bolster its offerings in the growing coronary and peripheral vascular markets. The market for respiratory humidifying devices in the United States and around the world will benefit from this.
Insights That Are Crucial
• Our research analyst has revealed that the worldwide market for respiratory humidifying equipment is expected to develop at a CAGR of roughly 7.5% between the years 2023 and 2030.
• The global market for respiratory humidifying equipment was worth about $8.1 billion in 2022 and is projected to be worth $15.1 billion by 2030, according to a research report.
• As a result of government initiatives and private sector backing, the global market for respiratory humidifying equipment is expected to expand significantly over the forecast period.
The meteoric rise in the prevalence of breathing problems has been a key factor in the market’s expansion
The global market for respiratory humidifying equipment will expand due to an ageing population and the rising prevalence of respiratory disorders. Furthermore, the introduction of cutting-edge healthcare technology will enhance current market tendencies on a global scale. Global demand for respiratory humidifying equipment will increase because to supportive government policies and financial backing from private companies. For example, in January 2023, the medical device manufacturer Telesair said it had secured roughly $22.1 million in series A funding to advance its mission of creating hospital-to-home products for respiratory treatment. Demand for respiratory humidifying equipment is expected to rise as a result of this change.
In addition, the rising demand for novel patient care products will contribute to the expansion of the global market for respiratory humidifying equipment. The global market for respiratory humidifying devices will grow in step with rising awareness of the prevalence of respiratory illnesses and the many benefits these devices offer.
An increase in the cost of medical equipment has the potential to slow the expansion of this market around the world
The global market for respiratory humidifying equipment may be hampered by the high price of raw materials. Other factors that will slow the global economy include inefficient cleaning and excessive use of respiratory humidifying devices.
New opportunities for expansion in the global economy require the development of effective treatments for the viruses that cause respiratory illness
Lip, skin, throat, and nasal dryness can be avoided with the help of humidifying respiratory equipment. In addition, they alleviate the signs and symptoms of the common cold and influenza. The global market for respiratory humidifying equipment will benefit from all of these factors, leading to expansion potential.
Manufacturers have had a hard time moving the product due to the risk of moisture leakage
Condensation on walls is a side effect of using humidifiers for the lungs because they release a lot of moisture into the air. This may pose a significant problem for the global market for humidifying devices used for the lungs. In addition, the product might become moist and mould can form in the home if it is placed near draperies, mattresses, and sofas, which poses challenges to the worldwide industry’s development.
The Global Respiratory Humidifying Equipment Market is segmented based on product, application and region
Global Respiratory Humidifying Equipment Market: Product Segment Analysis
● Active Respiratory Humidification
● Passive Respiratory Humidification
Global Respiratory Humidifying Equipment Market: Application Segment Analysis
The respiratory humidifying equipment market profiles key players such as:
● Fisher & Paykel Healthcare
● Seungil Electronics
● Teleflex Incorporated
● Hefei MT Medical Co Ltd
● Hamilton Medical
● Pigeon Medical
● Armstrong Medical
● Nidek Medical India Pvt Ltd
● Respirox Respiratory Devices
● Flexicare Medical Limited
Over the years 2023-2030, the North American market for respiratory humidifying equipment is expected to become dominant
In 2022, North America accounted for more than 75% of the worldwide revenue from respiratory humidifying equipment. This region is projected to expand significantly during the evaluation period. Key manufacturers in nations like Canada and the United States can influence the growth of the regional market from 2023 to 2030. In addition, rising insurance penetration and patient-friendly reimbursement policies will fuel regional market growth. The expansion of healthcare facilities in nations like the United States, where healthcare standards have been steadily rising, will have a multiplier effect on the regional market.
In addition, the Asia-Pacific market for respiratory humidifying equipment is forecasted to grow at the highest CAGR throughout the study period. An increase in the prevalence of asthma in both children and adults is expected to be a factor in the development of the regional economy. In addition, the rapid growth of the healthcare sectors in countries like India, Japan, Malaysia, China, Bangladesh, Thailand, and Indonesia would fuel the regional market.
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