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A Quick Overview of the Growth and Trends of the Respiratory Care Devices Market

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A Quick Overview of the Growth and Trends of the Respiratory Care Devices Market

The respiratory care devices in the market are in high demand for the last few decades. And specifically, in the past few years, the growth and market demand for respiratory device systems are high and significant.

What is the reason behind this rise? Well, it is the large breaking out of chronic and obstructive pulmonary diseases, other respiratory complications, and the very new COVID-19.

Market overview

TB, Pneumonia, and asthma are playing a major role in the industry, which are quite frequent due to the changing climate, pollution, and lack of immunity. Such diseases are affected by congesting the airways and other lung-related parts. To prevent such respiratory disorders, respiratory devices offer great support.

The majority of preventable chronic respiratory diseases such as sleep apnea, COPD, allergic rhinitis, tuberculosis, etc., seek major support in respiratory devices. According to the Global Asthma Report 2018, chronic respiratory diseases go on, affecting more than one billion people all over the world. And asthma is playing a major role here. Asthma is quite prevalent in the market of MEA and Latin America.

And the new addition to this field is the recent outbreak of COVID -19, which is setting the demand high for respiratory devices like ventilators. Moreover, many of the initiatives are on their way to contribute to research funding for more technological advancements in respiratory devices.

Many awareness programs like GINA, Govt, and non-profit initiatives are working to increase the portability of the device to make it reach every home where it is needed.

Impact of COVID-19 on the market of Global Respiratory care devices

The COVID -19 first marked its appearance in the Wuhan of China; later, it led to a massive outbreak in the global platform, which is the main reason for suffering in the world in 2020. The hospitals are seeing a large number of patients for treatment. According to the envision, countries like Italy, USA have opted for many new build hospitals and medical camps to accommodate the patients’ rapid growth.

It has resulted in the huge manufacturing of the critical care device in increased quantity as the demand is ever-growing. The pandemic has fueled up the alliances between the non-healthcare and healthcare industries to produce more respiratory care devices.

The pandemic has influenced the surge in demand for respiratory devices for personal support and protection. The end of the ventilators is seeing a new verge of growing demand, as millions of COVID patients are facing a shortage of breathing.

What are the market drivers?

The growth of the market is getting leverages from the prevalent spread of respiratory diseases. Here are the main reasons which are driving more growth to the demand for respiratory care devices.

  • Speedy breaking out of respiratory devices
  • Rising population all over the world
  • People’s tendency to lean toward heavy smoking
  • Fast urbanization ad growing pollution
  • Enhanced level of preterm births 
  • The rapid lifestyle changes to fit into the rat race.
  • And most importantly, and very recent COVID-19.

Growth rate

The market expects to reach USD 29.9 billion by the coming year 2025 in the market of respiratory care devices. The recent market marks the growth of USD 16.0 billion in 2019 as per a CAGR of – 12.5%.

The sudden rise of Coronavirus is leveraging the growth mostly. The market for respiratory care devices has seen a CAGR of 261.1% from 2019-20. This economic year the market has reached USD 58.1 billion.

What are the challenges in the market?

Though the growth is massive, it is still facing some drawbacks as most respiratory diseases like asthma, COPD is often staying undiagnosed and untreated due to the low awareness.

As per WHO, the low and middle incoming countries face more than 90-80% of deaths due to asthma and COPD. According to estimation, 70% of COPD remains underdiagnosed and without treatment due to the lack of awareness.

Conclusion:

The government and other manufactures are emphasizing more on the production of the respiratory device supports, which is working as the main reason behind this high rate of growth. Now, all we need to do is, have an eye on where the market is showing its indication in the coming future.

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