The Asia-Pacific respiratory devices market is expected to register a CAGR of 5.1% during the forecast period.
COVID-19 has impacted the growth of the respiratory devices market in Asia-Pacific. For instance, according to a paper published in the British Journal of Surgery, an estimated 585,000 elective procedures were postponed in India alone during the 12-week shutdown, and 28.4 million elective procedures were canceled or postponed globally by May 2020. Moreover, major respiratory devices, such as ventilators, nebulizers, CPAP, BiPAP, and oxygen concentrators, witnessed high demand initially, as they are widely being used for COVID-19 patients. Thus, with the increased severity of COVID-19 in the region, several companies have increased their ventilator production to combat the pandemic. For instance, in April 2020, MEKICS Co. Ltd, a South Korean company, partnered with BIOLASE Inc. to supply ICU-grade portable ventilators through BIOLASE's FDA-registered manufacturing facility in California. Such partnerships have increased the production of portable ventilators in the country, hence impacting the market growth. Hence, the COVID-19 pandemic had a favorable impact on the market initially; currently, as the pandemic has subsided, the market has lost some traction and is expected to have stable growth during the forecast period of the study.
Factors such as the increasing prevalence of respiratory diseases such as chronic obstructive pulmonary diseases, TB, asthma, and sleep apnea, and technological advancements, as well as increasing applications in healthcare settings, are boosting market growth.
The prevalence and incidence of respiratory diseases such as asthma, chronic obstructive pulmonary diseases, and others among the population are increasing rapidly, which is anticipated to increase the demand for respiratory devices, hence propelling market growth. For instance, according to an article published in the WHO in March 2022, it has been observed that the prevalence of COPD was highest in North India and Bangladesh. In addition, as per the same source, the prevalence of chronic bronchitis ranged between 3% to 5%. Thus, the prevalence of COPD, a serious public health issue, is expected to rise, especially in emerging countries which is anticipated to increase the demand for different respiratory devices such as inhalers, nebulizers, ventilators, and others. This, in turn, is anticipated to fuel the market growth over the forecast period.
Additionally, the rising government activities and initiatives to donate respiratory devices to other countries to combat the coronavirus pandemic have also increased the production of respiratory devices in the region. This is also contributing to the market growth. For instance, in March 2022, the Ministry of Health and Family Welfare, as part of the National Health Mission's Reproductive, Maternal, Newborn, Child, Adolescent, and Adolescent Health and Nutrition (RMNCHA+N) program, developed the SAANS (Social Awareness and Actions to Neutralize Pneumonia Successfully) Initiative to reduce deaths from Childhood Pneumonia in both rural and urban areas which are expected to show significant growth over the forecast period. Also, in June 2021, the South Korean government donated 350 oxygen concentrators and 35 ventilators to help Indonesia cope with an exponential spike in COVID-19 cases. South Korea disbursed USD 4 million in funds to help Indonesia as a manifestation of cooperation to increase its capacity to handle the COVID-19 pandemic.
Furthermore, the rising company activities are also contributing to market growth. For instance, in November 2021, HoneyNaps, a South Korea-based healthcare startup, launched its medical software that uses artificial intelligence to diagnose sleep disorders. The device is called SOMNUM, the deep learning-based analysis program that enables real-time, multi-channel, large-capacity signal analysis. It automatically provides polysomnography readings that are said to be more accurate than conventional autoscoring.
Moreover, the increasing product launches in the region are expected to boost market growth. For instance, in March 2021, Vyaire Medical launched the AioCare (HealthUp SA, Poland) mobile spirometry system in more than 15 countries, including Australia and other countries. This new technology allows physicians to promptly diagnose pulmonary diseases, including asthma and COPD, as accurately as hospital-grade spirometers and performs high-quality patient monitoring via advanced digital connectivity at home.
Therefore, owing to the aforementioned factors, such as the high burden of respiratory diseases, government initiatives, and rising company activities, the studied market is anticipated to grow over the forecast period. However, the high cost of devices is likely to hinder the growth of the respiratory devices market in the Asia-Pacific region over the forecast period.
A ventilator is equipment that delivers mechanical ventilation by moving breathable air into and out of the lungs to deliver breaths to a patient who is unable or insufficiently breathing. Modern ventilators are microprocessor-controlled computers; however, patients can also be ventilated using a simple, hand-operated bag valve mask. Ventilators are most employed in intensive care, home care, emergency medicine, and anesthesiology. In addition, ventilators are used in the treatment of various respiratory diseases, and the growing prevalence of these diseases is expected to boost the segment's growth.
The rising burden of COPD, coupled with the growing geriatric population who are more prone to develop chronic obstructive pulmonary disease due to the age-associated changes in the structure and function of the lung, is also expected to increase the demand for different respiratory devices, thereby bolstering the segment growth. For instance, according to an article published in the Journal of Thoracic Disease in June 2021, it has been observed that the prevalence rate of COPD was higher among people aged 40 years or over. Also, as per the data published by Statistics Korea, in September 2022, the population aged 65 years or over is expected to reach 17.5% of the total population in 2022, and South Korea is predicted to become one of the most aged societies by 2025 when the elderly population will reach 20.6% of the total population. Thus, the expected increase in the aging population is anticipated to augment the market growth.
Furthermore, the rising product launches increase the availability of innovative respiratory devices, which is also expected to fuel the segment's growth. For instance, in May 2022, Max ventilator launched multifunctional noninvasive ventilators which come with inbuild oxygen therapy and humidifier in India. Also, in June 2021, ISRO launched a portable critical care ventilator, Prana (Programmable Respiratory Assistance for the Needy Aid), and is based on the automated compression of an Ambu (Artificial Manual Breathing Unit) bag.
Therefore, owing to the factors such as the high burden of COPD, and the growing aging population in the region, the studied segment is expected to grow over the forecast period.
The rising burden of respiratory diseases such as asthma and COPD is the key factor driving the market growth in the country. For instance, according to an article published in Lung India in August 2022, it has been observed that the prevalence of asthma ranged from 2% in Karnataka to 18.2% in Rajasthan. In addition, as per the same source, the prevalence of asthma among children was 7.9%. Also, as per an article published in Bulletin WHO in December 2021, it has been observed that the prevalence of COPD in India was highest in South India, followed by Northern India. Thus, the high burden of respiratory diseases raises the demand for inhalers and other respiratory devices, thereby propelling the market growth in the country.
Furthermore, the rising company activities in developing technologically advanced respiratory devices and increasing product launches are also expected to fuel the market growth in the country. For instance, in November 2021, Cipla Limited launched Spirofy, India's first pneumotach-based portable, wireless Spirometer, on World COPD Day. Also, in June 2021, DetelPro launched DetelPro Oxy10, a pulse oximeter having an LED display that helps users easily check the results. In addition, the auto-shut-off feature of the DetelPro pulse oximeter kicks in after 8 seconds of inactivity.
Therefore, owing to the aforementioned factors, such as the high burden of asthma and COPD and increasing product launches, the studied market is expected to grow over the forecast period.
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COVID-19 has impacted the growth of the respiratory devices market in Asia-Pacific. For instance, according to a paper published in the British Journal of Surgery, an estimated 585,000 elective procedures were postponed in India alone during the 12-week shutdown, and 28.4 million elective procedures were canceled or postponed globally by May 2020. Moreover, major respiratory devices, such as ventilators, nebulizers, CPAP, BiPAP, and oxygen concentrators, witnessed high demand initially, as they are widely being used for COVID-19 patients. Thus, with the increased severity of COVID-19 in the region, several companies have increased their ventilator production to combat the pandemic. For instance, in April 2020, MEKICS Co. Ltd, a South Korean company, partnered with BIOLASE Inc. to supply ICU-grade portable ventilators through BIOLASE's FDA-registered manufacturing facility in California. Such partnerships have increased the production of portable ventilators in the country, hence impacting the market growth. Hence, the COVID-19 pandemic had a favorable impact on the market initially; currently, as the pandemic has subsided, the market has lost some traction and is expected to have stable growth during the forecast period of the study.
Factors such as the increasing prevalence of respiratory diseases such as chronic obstructive pulmonary diseases, TB, asthma, and sleep apnea, and technological advancements, as well as increasing applications in healthcare settings, are boosting market growth.
The prevalence and incidence of respiratory diseases such as asthma, chronic obstructive pulmonary diseases, and others among the population are increasing rapidly, which is anticipated to increase the demand for respiratory devices, hence propelling market growth. For instance, according to an article published in the WHO in March 2022, it has been observed that the prevalence of COPD was highest in North India and Bangladesh. In addition, as per the same source, the prevalence of chronic bronchitis ranged between 3% to 5%. Thus, the prevalence of COPD, a serious public health issue, is expected to rise, especially in emerging countries which is anticipated to increase the demand for different respiratory devices such as inhalers, nebulizers, ventilators, and others. This, in turn, is anticipated to fuel the market growth over the forecast period.
Additionally, the rising government activities and initiatives to donate respiratory devices to other countries to combat the coronavirus pandemic have also increased the production of respiratory devices in the region. This is also contributing to the market growth. For instance, in March 2022, the Ministry of Health and Family Welfare, as part of the National Health Mission's Reproductive, Maternal, Newborn, Child, Adolescent, and Adolescent Health and Nutrition (RMNCHA+N) program, developed the SAANS (Social Awareness and Actions to Neutralize Pneumonia Successfully) Initiative to reduce deaths from Childhood Pneumonia in both rural and urban areas which are expected to show significant growth over the forecast period. Also, in June 2021, the South Korean government donated 350 oxygen concentrators and 35 ventilators to help Indonesia cope with an exponential spike in COVID-19 cases. South Korea disbursed USD 4 million in funds to help Indonesia as a manifestation of cooperation to increase its capacity to handle the COVID-19 pandemic.
Furthermore, the rising company activities are also contributing to market growth. For instance, in November 2021, HoneyNaps, a South Korea-based healthcare startup, launched its medical software that uses artificial intelligence to diagnose sleep disorders. The device is called SOMNUM, the deep learning-based analysis program that enables real-time, multi-channel, large-capacity signal analysis. It automatically provides polysomnography readings that are said to be more accurate than conventional autoscoring.
Moreover, the increasing product launches in the region are expected to boost market growth. For instance, in March 2021, Vyaire Medical launched the AioCare (HealthUp SA, Poland) mobile spirometry system in more than 15 countries, including Australia and other countries. This new technology allows physicians to promptly diagnose pulmonary diseases, including asthma and COPD, as accurately as hospital-grade spirometers and performs high-quality patient monitoring via advanced digital connectivity at home.
Therefore, owing to the aforementioned factors, such as the high burden of respiratory diseases, government initiatives, and rising company activities, the studied market is anticipated to grow over the forecast period. However, the high cost of devices is likely to hinder the growth of the respiratory devices market in the Asia-Pacific region over the forecast period.
Asia-Pacific Respiratory Devices Market Trends
Ventilator Segment is Expected to Hold Significant Market Share Over the Forecast Period
The ventilator segment is expected to witness significant growth in the respiratory devices market over the forecast period owing to the factors such as the rising prevalence of asthma, COPD, allergic rhinitis, brain injuries, cardiac arrest, and strokes among the population.A ventilator is equipment that delivers mechanical ventilation by moving breathable air into and out of the lungs to deliver breaths to a patient who is unable or insufficiently breathing. Modern ventilators are microprocessor-controlled computers; however, patients can also be ventilated using a simple, hand-operated bag valve mask. Ventilators are most employed in intensive care, home care, emergency medicine, and anesthesiology. In addition, ventilators are used in the treatment of various respiratory diseases, and the growing prevalence of these diseases is expected to boost the segment's growth.
The rising burden of COPD, coupled with the growing geriatric population who are more prone to develop chronic obstructive pulmonary disease due to the age-associated changes in the structure and function of the lung, is also expected to increase the demand for different respiratory devices, thereby bolstering the segment growth. For instance, according to an article published in the Journal of Thoracic Disease in June 2021, it has been observed that the prevalence rate of COPD was higher among people aged 40 years or over. Also, as per the data published by Statistics Korea, in September 2022, the population aged 65 years or over is expected to reach 17.5% of the total population in 2022, and South Korea is predicted to become one of the most aged societies by 2025 when the elderly population will reach 20.6% of the total population. Thus, the expected increase in the aging population is anticipated to augment the market growth.
Furthermore, the rising product launches increase the availability of innovative respiratory devices, which is also expected to fuel the segment's growth. For instance, in May 2022, Max ventilator launched multifunctional noninvasive ventilators which come with inbuild oxygen therapy and humidifier in India. Also, in June 2021, ISRO launched a portable critical care ventilator, Prana (Programmable Respiratory Assistance for the Needy Aid), and is based on the automated compression of an Ambu (Artificial Manual Breathing Unit) bag.
Therefore, owing to the factors such as the high burden of COPD, and the growing aging population in the region, the studied segment is expected to grow over the forecast period.
India is Estimated to Have Significant Share in the Asia-Pacific Respiratory Devices Market Over the Forecast Period
India is expected to witness significant growth in the respiratory devices market in the Asia-Pacific region over the forecast period owing to the factors such as the growing incidence of respiratory disorders, increasing government initiatives, and the presence of market players in the country.The rising burden of respiratory diseases such as asthma and COPD is the key factor driving the market growth in the country. For instance, according to an article published in Lung India in August 2022, it has been observed that the prevalence of asthma ranged from 2% in Karnataka to 18.2% in Rajasthan. In addition, as per the same source, the prevalence of asthma among children was 7.9%. Also, as per an article published in Bulletin WHO in December 2021, it has been observed that the prevalence of COPD in India was highest in South India, followed by Northern India. Thus, the high burden of respiratory diseases raises the demand for inhalers and other respiratory devices, thereby propelling the market growth in the country.
Furthermore, the rising company activities in developing technologically advanced respiratory devices and increasing product launches are also expected to fuel the market growth in the country. For instance, in November 2021, Cipla Limited launched Spirofy, India's first pneumotach-based portable, wireless Spirometer, on World COPD Day. Also, in June 2021, DetelPro launched DetelPro Oxy10, a pulse oximeter having an LED display that helps users easily check the results. In addition, the auto-shut-off feature of the DetelPro pulse oximeter kicks in after 8 seconds of inactivity.
Therefore, owing to the aforementioned factors, such as the high burden of asthma and COPD and increasing product launches, the studied market is expected to grow over the forecast period.
Asia-Pacific Respiratory Devices Market Competitor Analysis
The Asia-Pacific respiratory devices market is consolidated with many players in the market. The companies are implementing certain strategic initiatives, such as a merger, new product launches, acquisitions, and partnerships that help them in strengthening their market position. Some of the companies which are currently dominating the market are GE Healthcare, Fisher & Paykel Healthcare Ltd, Koninklijke Philips NV, Smiths Medical, Dragerwerk AG, Teleflex Incorporated, 3M Company, and DeVilbiss Healthcare LLC (Drive DeVilbiss Healthcare) among others.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD Million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- GE Healthcare
- Fisher & Paykel Healthcare Ltd
- Koninklijke Philips NV
- Medtronic Plc
- Dragerwerk AG
- Teleflex Incorporated
- 3M Company
- DeVilbiss Healthcare LLC (Drive DeVilbiss Healthcare)
- Hamilton Medical
- ResMed
- Masimo Inc.
- VYAIRE
- Getinge AB
Methodology
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