The Sweden respiratory devices market size is projected to expand at significant CAGR during the forecast period, 2021 – 2028. Growth of the market is attributed to the increasing funding from government and private organization, rising prevalence of smokers, increasing technological advancement, and growing geriatric population.
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The respiratory devices supply respiratory air automatically to people with reduced respiratory concern. The respiratory gas is usually enhanced by oxygen and delivered inside the lung with a certain pressure created in the device. The ventilator fully affects pressures and volumes. While in aided respiration the respiratory device simply provides the mechanical breathing attempts with an established overpressure.
The Covid-19 pandemic affected the demand and supply of Sweden respiratory devices market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing investments by hospitals is projected to boost the market in the coming years.
- Introduction of technologically advanced products is the major factor fueling the market.
- Emerging economies and lack of health infrastructure is anticipated to restrict the market growth.
- Lack of awareness about respiratory devices present in the market act as a main challenge that can hamper the market during the forecast period.
- R&D investment and technological advancement in respiratory devices is projected to offer lucrative opportunities for the market players.
Market Segment Insights
The therapeutic devices and disposables segment is expected to grow at a rapid pace
Based on types, the Sweden respiratory devices market is bifurcated into diagnostic & monitoring spirometers devices and therapeutic devices & disposables. The diagnostic and monitoring spirometers devices segment is further sub-segmented into sleep test devices and other therapeutic devices.
The hospitals segment accounts for significant share of the market
On the basis of end-users, the Sweden respiratory devices market is fragmented into home care, hospitals, and ambulatory care centres. The hospital segment accounts for a significant share of the market. Growth of the market is attributed to increasing prevalence of respiratory disorders and rapid advancement in respiratory devices. The ambulatory care centres segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing demand for inhalers and rapid urbanization.
Market outlook
The Sweden respiratory devices market is anticipated to expand at a high CAGR during the forecast period due to increase in demand for respiratory care devices and rising awareness about health. Growth of the market is attributed to introduction of technologically advanced product and increasing incidence of pre-term births.
Rapid development in the health sector and increasing number of respiratory disease due to changing life style among people is the major factor fueling the market during the forecast period.
Competitive Landscape
Key players competing in the Sweden respiratory devices market include Smiths Medical, Inc., Koninklijke Philips NV, GlaxoSmithKline plc, Fosun Pharmaceutical, Dragerwerk AG, GE Healthcare, Fisher & Paykel Healthcare Corporation Limited, Invacare Corporation, and Medtronic PLC.
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The function of lungs starts to decline and hence the respiratory system undergoes numerous physiological, functional as well as immunological changes with the growing age.
Wide ranges of devices for diagnosis of respiratory diseases say asthma, sleep apnea, Chronic Obstructive Pulmonary Diseases (COPD).
In the year 2017, about 235 million people have asthma as per the World Health Organization, which signifies the need for respiratory care for asthma patients.
As per our analysis, the North America region holds significant market share among all regions across the globe in the global Respiratory care devices market by Regions.
Apart from that, Polysomnography Devices market will dominate this market during the forecast period by products that we have covered in this report.
Renub Research report titled “Respiratory Care Devices Market Global Analysis by Product (PAP Devices, Ventilators, Nebulizers, Humidifiers, Medical Oxygen Concentrators, Pulse Oximeters, Capnographs, Medical Gas Analyzers, Spirometers, Polysomnography, Devices, Peak Flow Meter, Breathing Circuits, Tracheostomy Tube, Others), Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables & Accessories), Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Companies (Becton Dickinson and Company, GE Healthcare, Invacare, Philips Group, Fisher & Paykel Healthcare, Medtronic Plc.
