RESPIRATORY DISPOSABLES MARKET ANALYSIS

Market Challenges And Opportunities

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.

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 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.