The global market for breathing machines is anticipated to develop as a result of an increase in surgeries and respiratory illnesses including asthma and COPD. Data from the National Institutes of Health from 2014 indicate that over 24 million Americans, including over 6 million children, suffer from asthma. Serious illnesses like pneumonia, tuberculosis, lung cancer, and other lung diseases can also cause breathing difficulties. The World Health Organisation (WHO) predicts that by 2030, one in five fatalities globally would be caused by the four primary potentially lethal respiratory diseases COPD, pneumonia, lung cancer, and tuberculosis. Millions of Americans struggle with respiratory issues including chronic obstructive pulmonary disease (COPD), which includes emphysema and chronic bronchitis. Breathlessness is a deteriorating lung disease known as COPD that puts a person at risk for serious sickness and exacerbations. Due to rising smoking prevalence and ageing populations in many nations around the world, COPD prevalence is anticipated to rise in the near future.
According to Coherent Market Insights, With a CAGR of 3.2% over the study period, the size of the worldwide Breathing Machines market would increase to USD 8675.6 Million in 2030.
Key Competitors in the Breathing Machines Industry:
1. GE Healthcare
The business was established in 1892 and is based in Chicago, Illinois, in the United States. It creates and distributes radiopharmaceuticals and diagnostic imaging agents for use in imaging modalities for medical imaging procedures. To develop AI-based software, GE and Spectronic Medical partnered in 2021. The business revealed in September that it would spend $1.45 billion to buy out Altaris Capital Partners and BK Medical.
2. Medtronic
The business was founded in 1949, and its corporate headquarters are in Dublin, Ireland. It creates and advances technological and medical innovations. The combined Patient Monitoring and Respiratory Interventions businesses, which are a component of the corporation's Medical Surgical Portfolio, were separated, the company declared in October 2022. The company declared its plan to buy Affera, Inc. in January 2022.
3. BD
The company was founded in 1897 and is based in New Jersey, U.S. The company manufactures and sells reagents, instrumentation, and medical gear. Additionally, in some regions, BD offers consulting and analytics offerings. To improve first-stick success rates for IV insertions, BD will launch advanced ultrasound technology in April 2023. In Tijuana, BD launched a new $38.6 million manufacturing facility for medication management in November 2022.
4. Fisher & Paykel
The business was founded in 1934 and has its main office in Auckland, New Zealand. There are currently built-in ovens, electric cooktops, dishwashers, dryers, freezers, ranges, rangehoods, refrigerators, and washing machines available under the Fisher & Paykel name. A deal to buy land for a second New Zealand campus was signed by Fisher & Paykel Healthcare in September 2022.
5. Invacare
The firm was started in 1885 and is based in Ohio, United States. The company sells its products to organisational, mass-retail, and residential customers. Among the products provided by Invacare are respiratory devices, personal care beds, insulin supplies, nursing home furnishings, and manual and powered wheelchairs. A Next Generation Rear Wheel Drive Power Wheelchair, the Invacare® AVIVA® STORM RXTM was unveiled by the company in 2021.
6. OMRON
The company was founded in 1933 and has its main office in Kyoto, Japan. The OMRON Corporation produces electronic systems, tools, and equipment utilised in manufacturing automation. The company provides products and services for a variety of markets, including medical care, automation in factories, electronic parts, automotive electronics, and social systems including traffic management and ticketing.
7. Teijin Pharma Resmed
The company was founded in 1918 and is based in Japan. Its primary business areas include high-performance fibres including aramid, carbon fibres and composites, healthcare, films, resin & plastic processing, polyester fibres, product conversion, and IT products.
Definition: When a patient has persistent respiratory conditions or is unable to breathe on their own following anaesthesia, a breathing machine helps them breathe.
