Innovation in manufacturing respiratory devices has resulted from the rising incidence of respiratory diseases. Patients with asthma and chronic obstructive lung diseases (COPD) have sought greater drug delivery precision. This has resulted in a rise in the adoption of respiratory devices. Governments have favourable reimbursement policies encouraging the manufacturing and sale of respiratory devices. MWR provides insights into key factors that drive demand for respiratory devices. This report provides information about the global sales of Respiratory Devices in 20 high-growth countries and analyzes the impact COVID-19 had on the medical devices industry in general and respiratory devices in particular.How do Combination Therapies Impact Respiratory Device Sales?
Combination therapies have been gaining popularity for treating COPD and asthma. Patients prefer combination therapies due to their increased efficacy, reliability and favourable reimbursement policies. Manufacturers of respiratory devices see a rise in demand for combination therapies, such as triple combination therapy.
Combination therapies can be a reliable treatment option for patients suffering from complex respiratory conditions. These therapies are also encouraged by favourable reimbursement schemes.
How will the adoption of portable respiratory devices aid growth?
Technology is important in improving the quality of inhalers and other nebulizers. It also makes it easier to use these devices. This would increase patient compliance. These devices are popular because they are lightweight, portable, and small enough to be carried easily. Patients with chronic respiratory conditions require continuous oxygen supply. The best portable oxygen concentrator is the one that offers many other advantages. Portable oxygen concentrators could be the next oxygen delivery device for toddlers.
The combination of cell phones with respiratory devices like spirometers, pulse oximeters, and pulse oximeters allows doctors to access telemedicine and data quickly. Demand for spirometers is expected to rise in the top regions due to government initiatives and the increasing chronic disease prevalence.
Many of the top Respiratory Devices Market players plan to launch portable devices. For instance, on April 01, 2019, InnAccel launched SAANS, which has been claimed to be the world’s first infrastructure-independent, neonatal, portable (continuous positive airway pressure) CPAP system. Aptar Pharma recently introduced PureHale, a portable, ready-to-use delivery system for upper respiratory care.
What are the effects of regulations on sales of respiratory devices?
According to the World Health Organization, COPD will be the world’s third leading cause of death by 2025. There are huge growth opportunities due to the rising incidence of respiratory diseases and increasing demand for treatment. The Respiratory Devices Market will see remarkable growth due to the introduction of favourable reimbursement policies.
Profitable growth prospects will be created by improvements in the government’s healthcare system and a growing focus on advanced treatment that is more accessible. The Affordable Care Act, for example, is being implemented to allow nearly 40 million Americans access healthcare services.
Similar services are provided in England. Every country’s citizen has access to preventive medicine, primary care, and hospital services through the National Health Service (NHS). In 2018, radical NHS changes were made to allow social workers to create care plans for patients. These care plans will increasingly be available outside of hospitals. These changes, which aim to make healthcare more accessible, will create a favourable environment for selling respiratory devices.
The universal healthcare system of Japan is also known for its low-cost healthcare policies. According to OCED, Japan’s healthcare system focuses on quality and cost control. The forecast period will see steady sales growth due to favourable regulatory policies.
There are many opportunities for COPD treatment.
MWR predicts that the COPD treatment will see a higher demand for respiratory devices. The COPD segment will grow rapidly over the next year, even though the COPD indication will remain the most popular. The market for respiratory devices will grow due to the increasing prevalence of COPD and the increase in healthcare spending around the globe.
The Global Burden of Disease Study report by WHO states that in 2016, approximately 251 million cases of COPD were diagnosed worldwide. The demand for nebulizers that treat COPD will rise in the coming years as the disease’s incidence is forecast to increase.
What is the potential for Respiratory Devices sales in the U.S?
MWR projects that the U.S. will continue to be a major Respiratory Devices Market for the forecast period. The region’s high healthcare spending is one of the main factors that support expansion. According to preliminary CMS forecasts from the Office of the Actuary (CMS), the U.S.’s total healthcare spending is expected to rise by 5.4% between 2019-2028, surpassing the country’s GDP by 4.3%.
The U.S. is still one of the most important markets for medical equipment worldwide, making it an attractive market for manufacturers of respiratory devices. Select USA forecasts that the U.S. medical device market will account for 40% of the global market by 2023. It is expected to reach 203 Bn US$ by 2023. According to the Centers for Medicare & Medicaid Services (CMS), the retail spending for durable medical equipment was 54.4 billion US$ in 2017. This is a sign of the incredible growth potential it will provide respiratory device companies.
The combination of favourable healthcare policies and high per capita healthcare spending has created an environment encouraging the adoption of respiratory devices in America. Leading players like Medtronic plc. and ResMed Inc. are helping to drive growth in the U.S. Their strategies include product launches and expansion plans, which will continue to aid in overall U.S. expansion.
U.K. Medical Device Sales Need Revival
Hospitals and other healthcare facilities across the U.K. are expected to increase their use of respiratory devices. The demand for respiratory devices will rise due to the efforts of various government agencies, such as the European Academy of Allergy & Clinical Immunology, which aims to raise awareness about COPD and other respiratory conditions such as asthma. FMI Europe is currently the second-leading market for respiratory devices, and this position is expected to continue throughout the period.
Research by the University of Edinburgh suggests that COPD treatment costs in England will exceed 2.5bn euros by 2030, according to the University of Edinburgh. This indicates that the U.K. can potentially expand its health care spending for respiratory conditions. According to the Economic Co-operation and Development Organization of the U.K., in 2017, the country spent approximately 2,989 euros per person on health. Sales prospects will improve as the U.K.’s healthcare spending is expected to rise significantly.
Why innovation is key to success in the German Medical Device Market
According to the Federal Statistical Office, Germany’s healthcare spending increased by 4% between 2017 and 2018. Germany spent 11.7% of its GDP on healthcare in 2018. Furthermore, healthcare spending is expected to rise to 407.4 trillion Euros by 2019, which presents a lucrative market for expanding and maintaining respiratory devices.
Companies such as Drgerwerk AG & Co. KGaA also support Germany’s expansion. This company provides affordable, effective technology to make Seattle PAP, a patent-pending innovation that treats respiratory distress symptoms in children and babies. The company has also been investing heavily in expansion. These companies have adopted growth strategies that will aid in Germany’s expansion.
All citizens have been required to purchase health insurance since 2009. The NCBI estimates that 70 million people are covered by statutory insurance or 85% of the country’s population. Substitute, private health insurance covers 11% of Germany’s population. Attractive growth opportunities are offered by the regulatory environment and favourable reimbursement policies.
Sales in France Closely Tied to Healthcare Spending
According to the National Center for Biotechnology Information, 530 Euros annually is paid for by COPD patients. This amount involves significant use of healthcare resources. Another survey conducted by NCBI found that COPD prevalence was between 1.0% and 11.1% in French adults. The rising demand for effective treatments results from France’s high prevalence of respiratory diseases. In France, the sales of respiratory devices are expected to rise.
The World Bank estimates that France’s healthcare spending is close to 11.25% of its GDP for 2018. While this represents a decline in healthcare spending in France than to 2017, the healthcare system is still strong. Combined with positive government initiatives, the rise in cases of respiratory disease will ensure that France’s demand for respiratory devices is high.
Competitive Landscape
To expand their product portfolio, leading players are focusing on strategic acquisitions. Masimo Corporation, for example, has purchased TNI medical A.G. (“TNI”) to provide innovative pulmonary treatment in 2020. Resmed Inc. also acquired H.B. Healthcare (HBH) and Propeller Health in 2019. This acquisition will provide connected health solutions to people with COPD and other respiratory conditions such as asthma.
To meet the needs of the growing patient population, companies in the respiratory device market are looking for strategic partnerships. Medtronic plc, for example, entered into a partnership in June 2020 with Foxconn Industrial Internet to start manufacturing Medtronics Puritan Bennett 5560 (PB560) ventilators in the United States.
Smiths Medical also signed a partnership agreement with Medline Industries to distribute the Portex acapella vibratory PEP therapy device. This will help focus on non-acute care channels and home care in 2019.
Players are focusing on innovation and USFDA approval. Key players aim to gain a competitive edge and expand their global reach as they await approvals from regulatory authorities. The USFDA approved Masimo Corporation in 2019 for Neonatal RD SETPulse Oximetry Sensors. It has improved accuracy Specifications and O3Regional Oximetry for infants and neonates. Radius PPG is the first tetherless SETpulse oximetry solution. In 2020, the USFDA approved Masimo’s Rad-G Pulse Oximeter to treat respiratory conditions.
Most companies are focusing their efforts on product launches that combine advanced technology with new ventilation solutions to provide respiratory support for infants, children, and adults. ResMed Inc., for example, launched an automated ResMed ReSupply solution in 2019 to improve long-term therapy compliance and patient satisfaction with sleep apnea.
Respiratory Devices Market Report Scope and Segmentation | |
|---|---|
| ATTRIBUTES | DETAILS |
| ESTIMATED YEAR | 2022 |
| BASE YEAR | 2021 |
| FORECAST YEAR | 2030 |
| HISTORICAL YEAR | 2017-2021 |
| UNIT | Value (USD Million/Billion) |
| BY REGION | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
The following companies dominate the Respiratory Devices Market:
- Massimo Corporation
- Teleflex Incorporated
- Fisher & Paykel Healthcare Limited
- ResMed Inc.
- Hamilton Medical AG
- Medtronic plc.
- Koninklijke Philips N.V.
- Smiths Medical
- General Electric Healthcare Limited
- Drgerwerk AG & Co. KGaA
- Inogen Inc.
Segmentation:
Product
- Respiratory Consumables
- Respiratory Mask
- Nasal Cannulas
- Oxygen Tubing Sets
- Breathing Filters
- Nebulizers
- Compressed Jet Nebulizers
- Ultrasonic Nebulizers
- Oxygen Concentrators
- Home Oxygen Concentrators
- Portable Oxygen
- Concentrators`
- Positive Airway Pressure (PAP) Devices
- Polysomnography Devices
- Ambulatory PSG Devices
- Clinical PSG Devices
- Pulse Oximeters
- Mechanical Ventilators
- Spirometers
End Users
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Long Term Care Centers
- Others
Scope of the Report
| Attribute | More Details |
| Market for Respiratory Devices Forecast Period | 2021-2031 |
| Historical data on Respiratory Devices Market Available | 2016-2020 |
| Market Analysis of Respiratory Devices | USD Million for volume and units for value |
| Key Regions Included | North America, Latin America, Europe, East Asia, South Asia, Oceania Middle East & Africa |
| Market for Respiratory Devices Key Countries | USA, Canada, Germany. U.K. France, Italy. Spain, Poland. Russia, China. South Korea. India. Thailand. Malaysia. Vietnam. Indonesia. Australia. New Zealand. GCC Countries. Turkey. Northern Africa. South Africa. |
| The Respiratory Devices Market Key Segments | Product Type, End User, and Region |
| Key Companies Profiled |
|
| Report coverage | Market Forecast, brand share analysis and competition intelligence, DROT analyses, Market Dynamics & Challenges, Strategic Growth Initiative
|
Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Italy
- France
- UK
- Spain
- Poland
- Russia
- The Netherlands
- Norway
- Czech Republic
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Malaysia
- Thailand
- Singapore
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Colombia
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Northern Africa
- Rest of MEA