Top 8 Companies in the Global Respiratory Care Device Market in 2024

The global respiratory care device market was valued at USD 21.67 billion in 2023. The market is expected to grow at a CAGR of 8.60% during the forecast period of 2024-2032, with the values likely to reach USD 45.51 billion by 2032. The market is driven by the rising prevalence of severe respiratory diseases across the globe.

Respiratory care devices help manage respiratory disorders by providing therapeutic interventions in the form of oxygen, positive pressure, or medications. They help with asthma, COPD, and sleep apnea by improving airflow, managing symptoms, and maintaining proper oxygen levels for optimal respiratory function.

The global respiratory care device market is driven by the increasing need for equipment that helps manage respiratory diseases, such as ventilators, nebulizers, oxygen concentrators, and CPAP devices. The rising prevalence of respiratory disorders, the aging population, and continuous technological advancements are boosting the market growth. As a result, there is a rising demand for these devices in both hospital and homecare settings, offering patients improved management of their respiratory conditions.

In September 2024, Agape ATP Corporation and Formedic Technologies collaborated and developed LEGA innovative respiratory care device that revolutionizes the delivery and accessibility of oxygen. Such collaborative initiatives are expected to propel significant growth in the respiratory care market in the coming years.

Let’s explore the profile of top companies leading the global respiratory care device market in 2024.

1.    Koninklijke Philips N.V

Philips is a leading player in the global respiratory care device market with state-of-the-art products such as ventilators, masks, and noninvasive ventilation (NIV) systems to provide advanced hospital respiratory care. The company strives for patient comfort, smooth transition in care, and enhanced outcomes. Philips also concentrates on providing consistent and quality respiratory therapy with continuous clinical education, support, and integration of its products into the hospital's information technology system to improve the quality of patient care.

2.    Masimo Corporation

Masimo is a leading developer of noninvasive monitoring technologies in respiratory care. Their signal extraction technology, SET, and advanced pulse oximetry, along with capnography solutions, improve monitoring of oxygenation and ventilation. Masimo's Rad-97 and MightySat Rx products provide critical information for managing respiratory conditions across diverse healthcare settings, thereby making them a critical part of the global respiratory care device market. Their innovations enhance the care and safety of patients in multiple clinical environments.

3.    Teleflex Incorporated

Teleflex is leading in the global market on respiratory care devices and developing medical technologies to advance further patient outcomes. The focus of their respiratory product lines is designed to meet all the needs of the specialties in the respiratory arena. They improve the standard of care through their solutions. As a result, Teleflex is driving progress in the global respiratory care sector as it is constantly innovating and focusing on meeting various challenges of the patient population.

4.    Fisher & Paykel Healthcare Corporation Limited

Fisher & Paykel Healthcare delivers a comprehensive portfolio of humidified respiratory solutions within the F&P Adult Respiratory Care Continuum for a variety of patient needs. Their product line includes Optiflow Nasal High Flow therapy, invasive and noninvasive ventilation products such as F&P Visairo and Nivairo masks, as well as homecare solutions. Innovations by Fisher & Paykel have strengthened respiratory care, driving growth in the global respiratory care device market by offering effective solutions for a variety of respiratory conditions.

5.    Hamilton Medical AG

Hamilton Medical is a global leader in the field of respiratory care devices. It focuses on advanced ventilation, therapy, and intelligent ventilation technologies. The firm's portfolio consists of products like HAMILTON-C6 and HAMILTON-G5, used in critical care and transport settings. The company has always focused on innovation by including digital solutions and accessories that could enhance patient care and support healthcare professionals.

6.    ICU Medical Inc.

ICU Medical is a leading company in the respiratory care device market worldwide. Their product line includes a range of products, such as manual resuscitators and ventilators. In emergency ventilatory support, they have Portex 1st Response for adults, infants, and pediatrics, and versatile mechanical ventilation with CPAP by the paraPAC plus. The critical care environment is catered to by these products and helps meet the increasing requirement of respiratory support in emergency cases and intensive care units.

7.    General Electric Company

GE Healthcare is one of the significant companies in the global market for respiratory care devices. Its products include advanced respiratory monitoring solutions such as airway gases and patient spirometry systems. Its technologies are designed to help clinicians manage ventilation during anesthesia and critical care, providing accurate measurements of airway pressures, flow, volumes, and compliance. By improving the care of patients with respiratory conditions, GE Healthcare enhances patient outcomes and thus remains an important contributor to advances in respiratory devices and patient management.

8.    ResMed Inc.

ResMed is one of the prominent players in the global market for respiratory care devices, producing innovative products such as those for sleep apnea, chronic obstructive pulmonary disease (COPD), and other diseases affecting the respiratory system. Products available include CPAP, ventilators, and masks as well as diagnostic equipment and accessories. The ResMed solutions play an essential role in enhancing patient results while furthering respiratory care as more patients demand greater advances in respiratory management outside the hospital and in their homes.