Respiratory disposables are medical devices designed for the treatment of respiratory disorders such as asthma, chronic obstructive pulmonary disease (COPD), sleep apnea, etc. Respiratory Disposables are those products that are used in conjunction with the respiratory devices, such as oxygen therapy devices, nebulizers, ventilators, tubes, resuscitators, and disposable masks. A wide range of respirator types and models or disposables are available for use in patient care during respiratory pandemics.
Market Statistics:
The global respiratory disposables market is estimated to account for US$ 1,652.80 Mn in terms of value by the end of 2022.
Drivers:
Increase in prevalence of respiratory diseases (such as asthma and COPD) as a result of the rapid growth in the global geriatric population across the globe is expected to augment growth of the global respiratory disposables market during the forecast period. Ageing is the main risk factor for major non-communicable chronic lung diseases, including COPD and asthma, most forms of lung cancer, and idiopathic pulmonary fibrosis. The prevalence of lung diseases, such as COPD and idiopathic pulmonary fibrosis, has been found to increase considerably with age. For instance, according to the World Health Organization (WHO), by 2030, one in six people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).
Opportunities:
The emergence of COVID-19 is expected to offer significant growth opportunities for players in the global respiratory disposables market. The demand for ventilators has also grown due to the COVID-19 outbreak, resulting in governmental and industrial support for driving the pace of manufacturing. For instance, in April 2020, Medtronic Plc received the U.S. Food and Drug Administration (FDA) approval to immediately market its ventilator, launched in May 2020, to meet increased demand due to the coronavirus outbreak.
Restraints:
Stringent rules and regulations regarding the use of respiratory disposables and higher rates of failures of respiratory disposables are some major factors expected to hamper the growth of the global respiratory disposables market.
Global Respiratory Disposables Market - Impact of Coronavirus (Covid-19) Pandemic
Outbreak of COVID-19 is causing a global request for effective measures aimed at mitigating the infection spread. Respiratory diseases directly drive demand for respiratory care. COVID-19 is the most recent and significant of these diseases, which in turn has increased the demand for respiratory disposables worldwide. This is indicative of the emphasis on respiratory care in the background of an ongoing outbreak; the market is expected to show a healthy growth rate, as a result. This in turn is expected to aid in the growth of the market.
To know the latest trends and insights prevalent in the Global Respiratory Disposables Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/respiratory-disposables-market-5058
Key Takeaways:
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.
Among product segment resuscitator segment held dominant position in the global respiratory disposables market in 2022, accounting for 47.5% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
- High prevalence of respiratory diseases, such as asthma and COPD, is expected to boost the growth of the global respiratory disposables market. For instance, according to WHO, COPD is the third leading cause of death worldwide, causing 3.23 million deaths in 2019. Moreover, asthma affected an estimated 262 million people in 2019 and caused 455 000 deaths.
- Rise in the demand for respiratory disposables is expected to propel the growth of the global respiratory disposables market. For instance, in May 2021, Dynarex Corp. launched a new line of premium respiratory products, Dynarex Resp-O2. In these challenging times, we recognize the growing demand for high-quality disposable supplies in the respiratory space, says Dynarex CEO Zalman Tenenbaum.
Competitive Landscape:
Major players operating in the global respiratory disposables market include Smiths Group (Smith Medical Inc.), Hamilton Medical AG, Getinge AB, Drägerwerk AG & CO. KGAA, Invacare Corporation, Air Liquide S.A., Chart Industries Inc, Masimo Corporation, Medtronic Plc., and Fisher & Paykel Healthcare Corporation Limited, among Others.
Recent Developments:
In June 2021, AutoMedx and Vincent Medical Holdings Limited send the SAVe II+ ventilators, inspired breathing circuits, and inspired respiratory filters to the Democratic Republic of Congo (DRC) through The World Bank.
