RESPIRATORY DISPOSABLES MARKET ANALYSIS

Respiratory disposables are consumables that are used to interface respiratory devices, such as ventilators, nebulizers, and oxygen therapy devices. Respiratory disposables include disposable tubes, disposable oxygen masks, disposable resuscitators, and other or accessories. Single-use, disposable respiratory protective devices used by healthcare professionals during procedures to protect both the patient and healthcare personnel from the transfer of microorganisms, body fluids, and particulate material. Respiratory disposables are used to treat respiratory disorders, such as chronic obstructive pulmonary disease (COPD), asthma, and sleep apnea. Moreover, they save time and reduce economic burden on hospitals along with prevention of infection. Thus, there is an increasing demand worldwide.

Market Statistics:

The global respiratory disposables market was valued at US$ 1,471.80 Mn in 2021 and is forecast to reach a value of US$ 2,910.10 Mn by 2028 at a CAGR of 9.2% between 2022 and 2028.

North America held dominant position in the global respiratory disposables market in 2020, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Respiratory Disposables Market Share (%), by Region, 2022

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Recent Developments:

In April 2020, Philips announced the launch of the Philips Respironics E30 Ventilator to help healthcare professionals by providing superior quality ventilators.

In May 2020, Royal Philips announced it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its wearable biosensor (Philips Biosensor BX100) to help manage confirmed and suspected COVID-19 patients in the hospital.

In March 2019, ResMed acquired HB Healthcare Safety, a provider of home-based medical equipment for sleep and respiratory care devices.

Market Drivers:

1. The outbreak of COVID-19 across the globe is expected to augment the growth of the global respiratory disposables market during the forecast period. For instance, medical professionals have increased the usage of nasal cannulas for the administration of drugs to combat COVID-19. According to the World Health Organization (WHO), worldwide, as of 5:40pm CEST, 22 June 2022, there have been 538,321,874 confirmed cases of COVID-19, with 6,320,599 deaths. Thus, with the increase in number of COVID-19 cases, the demand for respiratory disposables is also expected to increase worldwide.
2. Increasing prevalence of respiratory diseases, such as asthma and COPD, is expected to drive growth of the global respiratory disposables market during the forecast period. For instance, according to the Asthma and Allergy Foundation of America (AAFA), more than 25 million people in the U.S. have asthma. This equals about 1 in 13 people. It is a leading chronic disease in children. Currently, there are about 5.1 million children under the age of 18 with asthma.

Figure 2. Global Respiratory Disposables Market Share (%), by Product, 2022

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Market Restraints:

1. Implementation of stringent rules and regulations related to the use of respiratory disposables is expected to hinder growth of the global respiratory disposables market.
2. High failure rates of respiratory disposables is also expected to impede growth of the global respiratory disposables market.

Market Opportunities:

1. Increase in advent of new viruses that are causing respiratory disorders is expected to offer significant growth opportunities for players in the global respiratory disposables market. For instance, COVID-19 is a respiratory illness caused by a novel coronavirus named SARS-CoV-2. On March 11, 2020, WHO declared the COVID-19 outbreak as a global pandemic.
2. Increase in number of smokers around the world is expected to provide substantial growth opportunities for players in the global respiratory disposables market. For instance, according to WHO, in 2020, 22.3% of the global population used tobacco, 36.7% of all men and 7.8% of the world’s women. Over 80% of the world's 1.3 billion tobacco users live in low- and middle-income countries.

Market Trends/Key Takeaways:

1. Increasing demand for respiratory disposables is expected to aid in the growth of the global respiratory disposables market. For instance, in May 2021, Dynarex Corporation announced the launch of its innovative new line of premium respiratory products, named Dynarex Resp-O2. Working closely with respiratory therapists and industry experts, Dynarex conducted in-depth research to develop a robust selection of high-quality respiratory products to serve the evolving needs of both patients and caregivers.
2. Rapid growth in the global geriatric population is expected to propel the growth of the global respiratory disposables market. For instance, according to WHO, by 2030, 1 in 6 people in the world will be aged 60 years or over, and the world’s population of people aged 60 years and older will double (2.1 billion) by 2050.

Competitive Landscape:

1. MEDTRONIC PLC.
2. MASIMO CORPORATION
3. FISHER & PAYKEL HEALTHCARE CORPORATION LIMITED
4. CHART INDUSTRIES INC
5. AIR LIQUIDE S.A.
6. INVACARE CORPORATION
7. DRÄGERWERK AG & CO. KGAA
8. GETINGE AB
9. HAMILTON MEDICAL AG
10. SMITHS GROUP PLC (SMITH MEDICAL INC.)