Increasing Prevalence of Infectious Respiratory Diseases Drives Respiratory Care Devices Market Growth

According to our new research study on "Respiratory Care Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product, Indication, and End User," the market is expected to grow from US$ 18,114.31 million in 2021 to US$ 32,761.82 million by 2028; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028. The growth of the global respiratory care devices market is majorly driven by increasing prevalence of infectious respiratory diseases, rapidly increasing cases of asthma and COPD, rising number of product launches and approvals, and growing R&D investment in respiratory care devices. However, the cutthroat competition among market players and unfavorable reimbursement scenarios are hampering market growth.

Infectious respiratory diseases are creating a rising burden on the healthcare system worldwide. Infectious respiratory disease can be induced due to several factors associated with immune deficiency. Most infectious respiratory diseases are spread from person to person through mucus and saliva and are caused by microorganisms that can infect the respiratory system. The severity of contagious respiratory diseases ranges from mild to severe. Infectious respiratory diseases consist of an exhaustive list of diseases, such as tuberculosis (TB), COVID-19, influenza, diphtheria, measles, pneumonia, pertussis, and respiratory syncytial virus (RSV), etc.

Among the above-mentioned infectious respiratory diseases, TB was on the top of the list for high prevalence before the COVID-19 pandemic.

- According to the Centers for Disease Control and Prevention (CDC) data, TB incidence (cases per 100,000 population) among Americans increased from 0.71 in 2020 to 0.79 in 2021, and among non-Americans, it increased from 11.71 in 2020 to 12.16 in 2021. Also, overall TB incidence in the US increased by 9.4% in 2021, following a significant decrease in 2020.

- According to the World Health Organization (WHO), TB is the 13th leading cause of death and the 2nd leading infectious disease after COVID-19.

- In October 2021, the WHO stated that in 2020, approximately 10 million people were infected with TB worldwide, including 5.6 million men, 3.3 million women, and 1.1 million children. Out of 10 million people, 1.5 million people died in the same year, indicating the high mortality rate of TB worldwide.

- As per the data published by the WHO, approximately 30 countries have a high TB rate accounting for 86% of new TB cases. Among those 30, 8 countries account for 2/3rd of the total, with India leading the count, followed by China, Indonesia, the Philippines, Pakistan, Nigeria, Bangladesh, and South Africa.

With the TB patient pool increasing, the demand for respiratory care devices used during TB treatment is rising. Masks, respirators, nebulizers, polysomnography devices, and BiPAP devices are highly used during and post TB treatment. Thus, the increase in TB cases leads to an increased usage of respiratory care devices and driving the market.

In recent years, COVID-19 has taken a significant place in the list of infectious respiratory diseases and accounted for the greatest number of deaths. The rising number of COVID-19 cases caused profound disruption and led to a high mortality rate.

- According to Worldometers.info, until May 20, 2022, the total number of reported COVID-19 cases was more than 526 million, whereas the recorded deaths were more than 6.2 million.

- The impact of the COVID-19 pandemic is historic, and it pushed the medical R&D sector to a new, rapidly moving pace. In May 2020, McKinsey & Company surveyed COVID-19 implications for life sciences R&D. For the survey, 300 R&D functional leaders were convened as a respondent to explore the implications of the COVID-19 pandemic on the medical R&D sector. The survey outcome revealed that R&D spent an average of 40-50% of their time on crisis management. The figure rises to 80% for contract manufacturing organizations (CMO) and other medical leaders.

- As per the insight analysis by ICON plc, an Ireland-based leading contract research organization, respiratory care devices are witnessing enormous global demand, resulting from the need for ventilators, masks, and other consumables due to the rising COVID-19 cases.

Due to the high usage of nebulizers in these infectious respiratory diseases, the demand for nebulizers has rapidly grown in the last few years, eventually propelling the respiratory care devices market. Many pharmaceuticals focus on developing effective therapies which can be administered via nebulizers. For instance, in May 2021, Vectura and Inspira Pharmaceutical announced a collaboration to establish a potential COVID-19 therapy. Vectura is to test IPX formulation to lungs through Vectura's FOX vibrating mesh nebulizer. FOX vibrating mesh nebulizer has boosted the respiratory care devices market in the preceding years.

Koninklijke Philips N.V., ResMed Inc, Medtronic, Masimo, THERMO FISHER SCIENTIFIC INC., Dragerwerk AG & Co. KGaA, Invacare Corporation, Getinge AB., Nihon Kohden Corporation, Air Liquide, and Teleflex Incorporated are among the leading companies operating in the respiratory care devices market. Product launches, product approvals, mergers and acquisitions, and market initiatives are a few growth strategies adopted by the companies. In April 2020, Royal Philips launched The Philips Respironics E30 ventilator, a versatile and easy-to-use noninvasive and invasive ventilator developed for large-scale production. The United States Food and Drug Administration (FDA) granted Philips an emergency use authorization (EUA) for the E30.

The respiratory care devices market is segmented based on product, indication, end user, and geography.

Based on product, the market is segmented into therapeutic devices, monitoring devices, diagnostics devices, and consumables & accessories. The therapeutic devices segment is further subsegmented into positive airway pressure (PAP) devices, oxygen concentrators, ventilators, inhalers, nebulizers, humidifiers, and others. The positive airway pressure (PAP) devices segment is subsegmented into CPAP devices, APAP devices, and BiPAP devices. The oxygen concentrators segment is subsegmented into fixed oxygen concentrators and portable oxygen concentrators. The inhalers segment is subsegmented into metered dose inhalers and dry powder inhalers. The monitoring devices segment is segmented into pulse oximeters, capnography, and gas analyzers. The diagnostics devices segment is subsegmented into spirometers, polysomnography devices, peak flow meters, and other diagnostic devices. The consumables & accessories segment is further subsegmented into masks, disposable resuscitators, tracheostomy tubes, breathing circuits, and other consumables & accessories.

Based on indication, the respiratory care devices market is segmented into chronic obstructive pulmonary disease (COPD), sleep apnea, asthma, infectious diseases, and others.

Based on end user, the market is segmented into hospitals, home care, and ambulatory care.

By geography, the respiratory care devices market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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