Orion Market Research
Respiratory Device Market, Size, Share, Analysis Report
& Forecast to 2023
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The global Respiratory Device Market is estimated to grow $33.6 billion in 2027 from $22.7 billion in
2020, growing at a CAGR of 5.7% during the forecast period (2021-2027). This growth is attributed to the
predominance of chronic respiratory diseases, changing lifestyle activities among people and innovations,
and the development of new products. Asthma is one of the major non-communicable diseases globally.
At the time of the asthma attack, the lining of the bronchial tubes swells which results in narrowing of
airways and reduced the flow of air through the lungs. As per WHO, about 235 million people have asthma
globally. It is the most common disease among children; however, a significant number of mortalities are
observed in the elderly population. It is highly prevalent in high-income countries, however, developing
economies have witnessed a large number of mortalities. Due to the developed healthcare system in
developed economies, it is early diagnosed and treated, whereas, due to lack of healthcare infrastructure
in low-income countries, a major portion of people with asthma remain undiagnosed and untreated.
There is a continuously high prevalence of chronic respiratory diseases due to which the demand for
respiratory therapeutics, diagnostic, and monitoring devices has been increasing across the globe.
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Growing Demand for Respiratory Device Market
Significant growth in the healthcare facilities related to respiratory diseases has been observed in