United States Respiratory Devices Market Size

USA Respiratory Devices Market Analysis

United States Respiratory Devices Market is poised to grow at a CAGR of 6.2% over the forecast period (2022-2027).

Major respiratory devices, including ventilators, nebulizers, CPAP, BiPAP, and oxygen concentrators, are in great demand because they are commonly utilized for COVID-19 patients. With the rising severity of COVID-19 in major countries such as the United States, the Vesper device developed by Prisma Health was granted emergency use permitted by the United States Food and Drug Administration (FDA) in March 2020 to help with ventilator shortages. In addition, the United States government has implemented several strategic projects during the COVID-19 pandemic to fulfil respiratory device demand. For instance, in April 2020, Philips and the United States government worked to enhance hospital ventilator output. Similarly, as per the updates in May 2021 by the American Association of Respiratory Care, the stockpile of mechanical ventilators has been expanded by the Office of the Assistant Secretary for Preparedness and Response (ASPR). This demonstrates the critical need for breathing devices such as ventilators in the nations affected by COVID-19. As a result, the COVID-19 pandemic has had a favourable impact on the market analysed.

The rise in the number of chronic obstructive pulmonary disease patients (COPD), TB, asthma, and pneumonia cases remains the major driver of the industry. As per the April 2021 statistics by the Asthma and Allergy Foundation of America, each year, over 20 million persons in the United States aged 18 and above suffer from asthma. Thus, the frequency of such conditions in the country implies a steady need for respiratory devices in the country, leading to the expansion of the market examined in the United States. In addition, according to the study titled "Respiratory Symptoms among US Adults: a Cross-Sectional Health Survey Study" published in the Pulmonary Therapy in July 2022, the most common respiratory symptom, followed by a productive cough and shortness of breath, affects 17% of adult Americans. Thus, with the growing burden of respiratory diseases, the demand for respiratory devices is expected to increase over the forecast period, thereby boosting market growth.

Moreover, growing product launches by key market players support the market expansion over the forecast period. For instance, in May 2022, Honeywell launched NIOSH-certified respiratory DC365 Small Surgical N95 Respirator products to help healthcare personnel fulfil their demands. Thus, all the above-mentioned factors are expected to boost market growth over the forecast period. However, the high cost of respiratory devices may restrain the market growth.