Respiratory Humidifying Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Hospitals, Homecare and Others), By Application (Adults, Neoantes and Others) Regional Forecast to 2028

Updated On: 22 April 2024

REPORT OVERVIEW

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The global respiratory humidifying equipment market size was expected to be USD 933 million in 2021. As per our research, the market is projected to touch USD 1526.6 million by 2028, exhibiting a CAGR of 7.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Equipment used to raise the humidity of the air that a person with respiratory issues breathes in is referred to as respiratory humidifying equipment. Increased humidity keeps the airways moist, which can alleviate congestion and make breathing easier. This is crucial. Nebulizers, heat humidifiers, and ultrasonic humidifiers are just a few of the different types of respiratory humidifying equipment available. Air is given more moisture by humidifying respiratory apparatus in order to prevent dry lips, skin, throat, and nose. Additionally, they can lessen a person's symptoms of the common cold and influenza. The combination of all of these factors will open up new prospects for the worldwide respiratory humidifying equipment market growth. The increased prevalence of respiratory disorders, growing public knowledge of the advantages of utilising respiratory humidifiers, and technological developments in respiratory humidifying equipment are all factors contributing to the market's expansion.

COVID-19 Impact: The Growing Demand of Telemedicine, Rapid Innovation and Technology Upsurged the Market Demand

Worldwide healthcare systems were severely impacted by the COVID-19 pandemic, which increased demand for respiratory care equipment such ventilators, oxygen concentrators, and respiratory humidifiers. Respiratory discomfort is a common symptom of patients with severe COVID-19, making humidification essential to their care. Manufacturers were forced to invent and create new products quickly due to the pressing need for respiratory care equipment. To fulfil the demand, some businesses repurposed their existing technology or worked together with others to build more humidifiers and related equipment.

A growing demand for home-based respiratory care equipment resulted from efforts to decrease hospital admissions and manage patients at home whenever possible to avoid overcrowding. Patients receiving oxygen therapy or recuperating from respiratory ailments could use portable humidifiers that are simple to operate. The pandemic enhanced the use of telemedicine and raised interest in the remote monitoring and management of respiratory patients. For the purpose of enabling remote care, certain humidifying apparatus was created to integrate with telemedicine platforms.

LATEST TRENDS

"Need of Effective Treatment of Viral Infections to Advance Up the Market Share"

Air is hydrated with the use of respiratory humidifiers to avoid dry lips, skin, throat, and nose. Additionally, they can lessen the symptoms that people experience from the common cold and the flu. For the market for respiratory humidifying equipment worldwide, all of the aforementioned factors will create new growth prospects.

SEGMENTATION

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By Type

Based on type; the market is divided into hospitals, homecare and others.

The hospital is the leading part of the type segment.

By Application

Based on the application; the market is divided into adults, neonates sand others.

The adults is the leading type of the application segment.

DRIVING FACTORS

"Growing Geriatric Population to Uplift the Market Demand"

The rising geriatric population, which has a higher risk of respiratory illnesses because of exposure to pollutants and less fresh air, might be blamed for the high demand. The working-class populations of rising economies like China, India, Brazil, and Mexico are expected to become more aware of healthcare services in the next years, which is expected to drive industry growth.Neonates can lessen their risk of respiratory distress by using respiratory humidifying equipment.

"An Increasing Surge in Breathing Disorders to Drive the Market Growth"

The global market for respiratory humidifying equipment will rise as a result of an increase in the elderly population and the prevalence of respiratory disorders. Additionally, the introduction of cutting-edge medical equipment will accentuate the current market trends internationally. Global demand for the humidifying equipment will increase due to supportive government policies and private sector initiatives. As an illustration, in January 2023, Telesair, a manufacturer of medical equipment that creates hospital-to-home products for respiratory care, announced that it had secured roughly $22.1 million in series A capital. The action will increase demand for respiratory humidifying equipment in the ensuing years.

The global market for humidifying equipment will also increase as a result of the rising need for novel patient care solutions. The prevalence of benefits offered by respiratory humidifying devices and rising awareness of cases of respiratory illnesses will enhance the global market's growth.

RESTRAINING FACTORS

"Cost Constraints of the Humidifiers Equipment to Restrain the Market Growth"

The development of the global respiratory humidifying equipment market may be hampered by high raw material costs. In addition, excessive usage of respiratory humidifiers and ineffective cleaning would further restrain the global sector. Due to their raw material cost structures, the respiratory humidifying equipment market growth can be hampered.

REGIONAL INSIGHTS

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"North American Region to Lead the Market with Rising Awareness and Advanced Health Infrastructure"

In terms of revenue share, North America dominated the respiratory humidifying equipment market share in 2020. The market is anticipated to keep its dominance over the projection period as a result of factors including favourable reimbursement regulations, the presence of state-of-the-art healthcare infrastructure, and the high adoption rate. Due to factors like favourable reimbursement policies, an increase in the frequency of chronic diseases, and increased demand for home healthcare devices, the region is anticipated to maintain its dominance during the forecast period. The rapidly improving economic climate, rising public awareness of early diagnosis & treatment options, and government initiatives aimed at reducing disease transmission rates within local communities are some of the key factors driving the regional market growth rate. The region is anticipated to be one of the fastest growing regions with an exceeding CAGR during the forecast period.

KEY INDUSTRY PLAYERS

"Key Industry Players to Promote the Market Expansion"

The report is a thorough investigation that details industry performance in the past and the future together with an analysis of the competitive landscape that takes into account well-known main players and revenue patterns. In-depth study of company profiles, growth trends, the supply-demand chain, production and consumption demand, and business expansion methods used by top key players are all provided in the report. The data combines recent technology advancements, trends, manufacturing line mergers and acquisitions, market research, and other elements.

List of Market Players Profiled

• Fisher & Paykel Healthcare (New Zealand)
• Teleflex Incorporated (U.S.)
• Intersurgical (U.K.)
• Flexicare Medical Limited (U.K.)
• Vapotherm (U.S.)
• WILAmed (Germany)
• Hamilton Medical (Switzerland)
• Armstrong Medical (U.K.)
• Pacific Medico (Japan)
• Breas (U.S.)
• BioCare (U.K)
• Shenyang RMS (China).

REPORT COVERAGE

This report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching  of recent industry developments,  deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.