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Respiratory Oxygen Delivery Devices Market

Market Study on Respiratory Oxygen Delivery Devices: Rising Telehealth and Remote Patient Monitoring, PMR Foresees Various Opportunities for Respiratory Oxygen Delivery Devices Manufacturers on the Horizon

A Detailed Analysis of the Respiratory Oxygen Delivery Devices Market Based on Growing Technological Advancements, New Product Launches, and Increasing Prevalence of Respiratory Disorders

Respiratory Oxygen Delivery Devices Market

The global Respiratory Oxygen Delivery Devices market is forecast to expand at a CAGR of 7.4% and thereby increase from a value of US$12.78 Bn in 2023 to US$21.06 Bn by the end of 2030.

Attributes

Key Insights

Respiratory Oxygen Delivery Devices Market Size (2023E)

US$12.78 Bn 

Projected Market Value (2030F)

US$21.06 Bn 

Global Market Growth Rate (CAGR 2023 to 2030)

7.4%

Historical Market Growth Rate (CAGR 2018 to 2022)

6.9%

Revenue Share of Top Four Countries (2022E)

43%

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Market Introduction and Definition

Highly portable oxygen concentrators result from developments in battery technology and miniaturization. These gadgets increase convenience and mobility by enabling patients to get oxygen therapy while leading active lives. Smart inhalers are the outcome of incorporating digital technology into inhalers. These gadgets have sensors that measure inhaler usage, remind patients to take their medications as prescribed, and send data for remote monitoring to medical professionals. Patients can be monitored remotely thanks to the combination of respiratory oxygen delivery systems and telemedicine platforms. This technology allows medical professionals to monitor patients' progress, modify their treatment regimens, and take immediate action to enhance patient care. Customized respiratory devices are now easier to produce thanks to 3D printing, which enables more individualized patient care. This technology can make customized respiratory accessories, inhaler parts, and masks for particular patients.

Nebulizer efficiency is being increased through the application of nanotechnology. Drugs delivered with more targeting and absorption are available in nano-sized particles, improving respiratory treatments' efficiency while lowering adverse effects. To maximize respiratory support, AI algorithms are being progressively included in ventilators. By analyzing patient data in real-time, modifying breathing parameters, and anticipating any problems, these systems enhance ventilators' general effectiveness and security. Wearable technologies enable continuous monitoring of respiratory parameters. Examples of these are smart shirts and chest straps with integrated respiration sensors. These gadgets help in the early detection of respiratory problems by offering useful data to patients and healthcare professionals.

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Market Growth Drivers

 Increasing Prevalence of Respiratory Disorders to Drive Market Growth

The prevalence of respiratory illnesses, such as respiratory infections, asthma, and chronic obstructive pulmonary disease (COPD), is rising worldwide. There is a growing prevalence of respiratory illnesses due to factors like smoking, air pollution, and aging populations. As people age, there is an increased risk of respiratory illnesses in the elderly. Respiratory conditions become more common as people age because of the natural loss of lung function. The increasing need for respiratory oxygen delivery equipment is partly due to this demographic shift. The onset and worsening of respiratory illnesses are associated with exposure to allergens, environmental contaminants, and workplace dangers. Respiratory support devices become necessary when environmental dangers arise due to urbanization, industrialization, and lifestyle changes. Respiratory ailments have been associated with unhealthy lifestyle choices like smoking, inactivity, and poor food. Oxygen delivery devices are required since the prevalence of respiratory illnesses is increasing, and these lifestyle-related risk factors are still present.

In addition, Influenza and pneumonia are two examples of respiratory infections that greatly increase the burden of respiratory illnesses. Infectious illness outbreaks, like the COVID-19 pandemic, emphasize how important respiratory support devices are for treating severe respiratory disorders. Rapid urbanization frequently results in more exposure to air pollution, exacerbating respiratory illnesses. This raises concerns about urbanization and air quality. Urban poor air quality is a significant risk, requiring those impacted to require pulmonary oxygen delivery systems. Population increase and aging are two trends that developing nations are facing. These alterations, in conjunction with changing living habits, lead to an increase in the frequency of respiratory illnesses in areas where incidence rates may have been lower in the past.

 High Cost of Respiratory Oxygen Delivery Devices to Hinder Market Growth

Patients, especially those without complete insurance coverage, may struggle to afford pulmonary oxygen delivery devices' initial and continuing expenses. Access to necessary respiratory care may need to be improved or completed by financial considerations. The high cost of breathing devices can make them inaccessible in underdeveloped nations with a healthcare infrastructure and resources shortage. Obtaining complex and expensive medical equipment may require more work for patients in certain areas. Because respiratory equipment can be expensive, healthcare providers and institutions may be unable to invest in the newest tech. Due to this, patients may end up receiving subpar care from outdated, antiquated equipment.

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Market Restraints

Stringent Regulatory Compliance

High entry barriers prevent new businesses from joining the market due to strict regulatory requirements. The time and resources needed for product development and market entrance are increased by adhering to stringent regulatory standards, including paperwork and clinical trial requirements. Manufacturers who operate in many regions may find it more difficult to enter the market if regulatory standards are not harmonized globally. While efforts to harmonize regulations are meant to simplify them, disparities in regulatory standards may pose problems for businesses looking to enter foreign markets. Regulatory compliance relies heavily on ensuring product instructions and labels are correct and compliant. Regulatory problems may arise from inconsistent labeling, which is crucial for user safety and comprehension.

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Opportunities

 Rising Telehealth and Remote Patient Monitoring

Healthcare professionals can use oxygen delivery devices, telehealth, and RPM to remotely monitor patients' respiratory state. Treatment regimens can be adjusted and preemptive measures taken thanks to real-time data on oxygen saturation, breathing patterns, and respiratory device usage. By integrating functionalities like medication alerts and educational materials, telehealth platforms can augment patients' compliance with respiratory therapy prescriptions. Better results are obtained, and there is a decreased chance of problems or exacerbations. Geographical obstacles are removed by telehealth, improving access to respiratory care, particularly for patients in underserved or rural locations. Without having to make frequent in-person visits, patients can chat with healthcare specialists, get advice on how to use devices, and have their illnesses monitored. If there are any departures from the anticipated respiratory parameters, remote monitoring makes it easier to act quickly. By remotely modifying oxygen flow rates or suggesting treatment plan modifications, medical professionals can enhance patient outcomes and lower the likelihood of emergency scenarios.

Moreover, telehealth and remote patient monitoring can minimize hospital stays and emergency room visits; they may lower total healthcare expenses. Early detection and proactive monitoring can stop problems before they become serious, saving money for patients and healthcare professionals. Wearable technology, such as breathing sensors and smartwatches, makes vital sign monitoring possible. Integration with oxygen delivery equipment offers a thorough picture of a patient's respiratory condition, enabling data-driven and individualized treatment. Patients recovering from operations or respiratory ailments can benefit from post-discharge monitoring made easier via telehealth. Continuous monitoring lowers the risk of readmissions by ensuring that patients receive the proper oxygen therapy and assistance during the crucial post-hospitalization period.

Analyst’s Viewpoint

The market for respiratory oxygen delivery devices looks to have a bright future due to several important characteristics that have been identified. The key driver of market expansion is anticipated to be the increasing global prevalence of respiratory illnesses, such as asthma and chronic obstructive pulmonary disease (COPD). With aging populations and environmental factors contributing to respiratory problems, there will certainly be an increase in demand for sophisticated and efficient oxygen-delivery devices. Developments in technology have a significant impact on how markets are shaped. Innovations that monitor and modify oxygen supply in real-time, including smart gadgets and portable oxygen concentrators, are becoming increasingly popular. These technologies improve treatment outcomes and patient convenience and stimulate market growth. Because of the COVID-19 pandemic, respiratory health is now a top priority for healthcare, underscoring the vital need for dependable oxygen delivery systems. This raised awareness is projected to increase market demand further, especially with a greater emphasis on proactive and preventative healthcare practices. In addition, the market is seeing strategic alliances and partnerships between major firms in the sector and healthcare institutions. These partnerships will develop and deliver cutting-edge respiratory care solutions by combining knowledge, resources, and market reach. These synergies are anticipated to stimulate innovation and increase the availability of cutting-edge gadgets, which will benefit market growth.

Supply-side Dynamics

The US is the leader in manufacturing high-tech ventilators, with companies like Philips Healthcare, GE Healthcare, and Medtronic creating cutting-edge equipment. They also make major contributions to portable oxygen systems and oxygen concentrators. Renowned manufacturers of cutting-edge ventilators and respiratory monitoring equipment, such as Drägerwerk AG & Co. KGaA and Maquet Medical Systems, are based in Germany. They are highly skilled in cutting-edge technologies and exacting quality standards. With companies like Jiangsu Yuyue Medical Group and Shanghai Shenyang Yuyue Medical Apparatus producing a range of oxygen delivery devices at affordable prices, China is a fast-developing nation. Nihon Kohden and Terumo of Japan provide superior ventilators and monitoring systems.

Additionally, China has a sizable population and a high incidence of respiratory disorders, including chronic obstructive pulmonary disease (COPD), which provides a huge market for RODDs. That being said, there are regional differences in consumption trends. High-flow nasal cannulas and portable concentrators are improved RODDs that are more widely available in developed cities. Due to limited healthcare infrastructure and affordability difficulties, rural communities frequently rely on basic devices like stationary concentrators and nasal cannulas. Relatively high consumption is caused by a robust healthcare system and various RODD choices. Home oxygen therapy equipment, portable oxygen concentrators, and advanced ventilator technologies are commonly utilized in the United States. Consumption of dependable and advanced RODDs results from stringent regulations and an emphasis on high-quality devices. Equipment for respiratory monitoring and specialized ventilators are commonplace in Europe.

Market Segmentation

Which Products Are Expected to Benefit the Most from Revenue Generation?

Extensive Sales for Oxygen Masks Category Due to Treatment of Respiratory Disorders

The product segment is segmented into oxygen masks, nasal cannulas, venturi masks, non-rebreather masks, and others. The oxygen masks segment is expected to dominate the market. Treatment for several respiratory conditions, such as chronic obstructive pulmonary disease (COPD), asthma, pneumonia, and respiratory failure, frequently involves using oxygen masks. The continued need for oxygen masks is a result of the prevalence of these illnesses. Nonetheless, the venturi masks segment of the respiratory oxygen delivery devices market is expanding at the quickest rate. Patients are intended to receive a precise and regulated oxygen concentration through venturi masks. This oxygen supply precision is essential when precise oxygen titration is needed, like in treating respiratory disorders.

What End User Will Be Targeted the Most Category?

Highest Percent Share Attributed to Hospitals Owing to Emergency Department Usage

The end user segment is bifurcated into hospitals, outpatient facilities, and home care. The hospital's market segment is the largest for respiratory oxygen delivery devices. Respiratory oxygen delivery devices are always in demand in hospitals, especially emergency departments. Devices like oxygen masks and Venturi masks are vital when prompt and precise oxygen administration is required, such as respiratory distress, trauma, or cardiac events. Nevertheless, the market segment exhibiting the most rapid growth is home care. A higher probability of respiratory diseases connected with aging is observed in the aging population. The need for oxygen delivery systems at home is driven by home care, which enables older patients to get respiratory assistance without the need for prolonged hospital stays.

Top Regional Markets

Why is Asia Pacific Emerging as a Dominating Region?

Increasing Prevalence of Smoking and Environmental Factors to Drive Market Growth

High smoking rates in several Asia Pacific nations have led to an increase in the prevalence of respiratory illnesses. Respiratory oxygen delivery systems are necessary for the management and treatment of disorders, including chronic obstructive pulmonary disease (COPD) and lung cancer, because smoking is a significant risk factor for these illnesses. A sizable chunk of the world's tobacco-using population is in the Asia Pacific region. The ongoing use of tobacco products, such as smokeless tobacco and cigarettes, increases the risk of respiratory illnesses and raises the need for oxygen-delivery equipment. In Asia Pacific, secondhand smoke exposure is common in homes and public areas. Respiratory problems are associated with this exposure, especially in nonsmokers. The population's exposure to ambient tobacco smoke is increasing the demand for respiratory support devices. In many Asia-Pacific nations, urbanization and industrialization raise air pollution levels. Respiratory disorders are linked to poor air quality, typified by smog and particle matter pollutants. Respiratory oxygen delivery systems may be necessary for those exposed to contaminated air.

What Opportunities Lie in North America for Manufacturers?

Growing Home Healthcare Trend to Advance Market Growth

The market for respiratory oxygen delivery systems is driven by patients' increasing need to receive medical treatment in the convenience of their own homes. With home-based care, patients can take care of their respiratory illnesses without being in the hospital for extended periods. There is an increasing need for home healthcare solutions due to the prevalence of chronic respiratory conditions and the aging population in North America. Older adults can efficiently manage their diseases and receive necessary treatment at home with the help of respiratory oxygen delivery systems, especially portable ones. Patients benefiting from home healthcare had higher quality of life, especially those with long-term respiratory conditions. The need for oxygen delivery equipment designed for home usage is driven by the fact that getting respiratory support at home improves patient comfort, autonomy, and general well-being.

Competitive Intelligence and Business Strategy

Prominent organizations, including GE Healthcare and Medtronic, are at the vanguard of this sector. The primary focus of GE Healthcare is on high-end, cutting-edge portable oxygen concentrators (POCs), such as the LifeSense line. Patients with moderate to severe respiratory disorders who require high oxygen flow rates are the target audience for these POCs, which also offer portability, comfort features, and integrated monitoring systems. With products such as the Inogen One G5, they have a restricted market presence in the low-end POC area. This may be a calculated move to avoid direct rivalry with price-conscious competitors in emerging markets. GE Healthcare provides patients and healthcare providers with a complete oxygen therapy solution by adding respiratory masks, flowmeters, and other accessories to its POC portfolio. Advanced POCs are in great demand in developed nations because of favorable insurance coverage and better disposable incomes, and GE Healthcare predominantly targets these areas. This complements their line of upscale products. They provide POCs appropriate for acute and chronic respiratory patients, serving hospital and home care settings. They also target people with sleep apnea who need continuous positive airway pressure, or CPAP, therapy.

Medtronic consistently invests in R&D to improve the usability, mobility, and functionality of its oxygen delivery systems. Examples include CPAP equipment with built-in humidifiers and noise reduction features and lightweight POCs with longer battery lives and quieter operation. Smart technologies like mobile app integration and Bluetooth connectivity are included in Medtronic devices. This facilitates remote monitoring, tailored therapeutic modifications, and data tracking, thus enhancing patient care and adherence. Medtronic looks into economical manufacturing methods and works with insurance companies and healthcare providers to increase access to oxygen therapy, especially in underserved areas.

Key Recent Developments

New Product Launch

In June 2023, the industry took a major stride towards sustainability when Airway Management, a manufacturer and supplier of sleep therapy devices, launched the Morf Nasal CPAP Mask, which has a new biodegradable seal. By addressing consumers' worries about the environment and raising the bar for respiratory oxygen delivery systems, this advancement could stimulate market expansion by appealing to eco-aware consumers.

Market Impact: The Morf mask can increase Airway Management's market share and draw in new client segments by appealing to environmentally concerned consumers looking for sustainable solutions. By eliminating silicone, the design potentially reduces skin irritation and allergic reactions, which could increase patient satisfaction and CPAP therapy adherence. Compared to conventional silicone seals, biodegradable seals provide a substantial sustainability benefit by reducing waste and meeting the rising need for medical products that respect the environment.

In November 2021, UNICEF collaborated with Oxygen CoLab and the British government to develop a durable oxygen concentrator that may be used in resource-poor environments. This effort is underway to address the coronavirus issue and supply critical care environments with oxygen.

Market Impact: A new market for durable, competitively priced oxygen concentrators designed specifically for low-income communities might arise if this initiative is successful. This might attract fresh manufacturers and investors, driving the market's growth and promoting eco-friendly solutions. The partnership may encourage oxygen concentrator design innovation, resulting in more effective, transportable, and user-friendly equipment appropriate for settings with limited resources.

Respiratory Oxygen Delivery Devices Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa  

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • Product
  • End User
  • Region

Key Companies Profiled

  • GE Healthcare
  • Koninklijke Philips N.V.
  • ICU Medical (Smiths Medical)
  • Invacare Corporation
  • Medtronic
  • Fisher & Paykel Healthcare
  • ResMed
  • Linde
  • Mindray
  • Chart Industries
  • Drägerwerk AG & Co. KGaA
  • DeVilbiss Healthcare

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

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Respiratory Oxygen Delivery Devices Market Research Segmentation

By Product:

  • Oxygen Masks
  • Nasal Cannula
  • Venturi Masks
  • Non-rebreather Masks
  • Others

By End User:

  • Hospitals
  • Outpatient Facilities
  • Home Care

By Region:

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • Middle East & Africa

- Companies Covered in This Report -

  • GE Healthcare
  • Koninklijke Philips N.V.
  • ICU Medical (Smiths Medical)
  • Invacare Corporation
  • Medtronic
  • Fisher & Paykel Healthcare
  • ResMed
  • Linde
  • Mindray
  • Chart Industries
  • Drägerwerk AG & Co. KGaA
  • DeVilbiss Healthcare

- Frequently Asked Questions -

The market is anticipated to grow at a CAGR of 7.4% during the projected period.

The respiratory oxygen delivery devices market was valued at USD 12,780.0 million in 2023.

China held the largest market share in 2023.

The prominent players in the market are GE Healthcare, Koninklijke Philips N.V., ICU Medical (Smiths Medical), Invacare Corporation, Medtronic, Fisher & Paykel Healthcare, ResMed, Linde, Mindray, Chart Industries, Drägerwerk AG & Co. KGaA, DeVilbiss Healthcare, and others.

The venturi masks segment is expected to grow fastest during the forecast period.

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