Koninklijke Philips N.V. (Netherlands) and General Electric Healthcare (US) are Leading Players in the Respiratory Care Devices Market
The global respiratory care devices market is projected to reach USD 31.8 billion by 2028 from USD 21.8 billion in 2023, at a CAGR of 7.8%. Growth in this market is largely driven by technology enhancements which have led to more efficient and user-friendly respiratory care devices even after the pandemic, there is increased focus preparedness and healthcare infrastructure, which has sustained the market growth.
The prominent players in the respiratory care devices market include Koninklijke Philips N.V. (Netherlands), General Electric Healthcare (US), ResMed Inc. (US), Fisher & Paykel Healthcare Corporation Limited (New Zealand), and Medtronic plc (Ireland). Players in the global respiratory care devices market have employed various strategies to expand their global footprints and increase their market shares.
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Koninklijke Philips N.V.
Philips Healthcare is a division of Koninklijke Philips N.V. (also known as Royal Philips). Philips Healthcare operates through four business segments, namely, Diagnostic and Treatment, Personal Health, Connected Care, and Other. The Connected Care segment is further classified into Hospital and patient monitoring, emergency care, sleep & respiratory care, and connected care informatics. The Sleep & Respiratory Care segment provides respiratory care products and solutions. The company primarily operates its respiratory care devices business through its subsidiary—Philips Respironics (US). The company offers more than 450 products and services in over 120 countries
General Electric Healthcare
General Electric (GE) Healthcare is a global digital solutions innovator and medical technology company. GE Healthcare enables clinicians to diagnose, treat, and monitor their patients through data analytics, intelligent devices, applications, and services. It also provides accessories, education, services, consumables, and training & consulting. GE Healthcare operates through three major segments, namely, Healthcare Systems, Pharmaceutical Diagnostics, and BioPharma. The Healthcare Systems segment provides respiratory care devices in the market.
ResMed Inc.
ResMed is a global company that specializes in the development and manufacturing of respiratory and sleep-related medical devices.. The company provide their products through two major segments, namely, Sleep and Respiratory Care segment and the Software as a Service, or SaaS. The company supply CPAP and bilevel device systems, high flow therapy device systems (HFT), non-invasive and invasive ventilators, humidifiers, and accessories, including masks, nasal cannula, and tubing. The company markets its products in more than 140 countries
Related Reports:
Respiratory Care Devices Market by Product (Therapeutic (CPAP, Ventilator, Nebulizer, Inhaler), Pulse Oximeter, Spirometer), Indication, End User, Key stakeholders & Expectations, Unmet needs, Buying Criteria, Reimbursement - Global Forecast to 2028
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