Sweden Respiratory Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Swedish respiratory devices market is expected to register a CAGR of 6.1% during the forecast period. The country’s respiratory devices market was impacted by the COVID-19 pandemic as major respiratory devices, such as ventilators, nebulizers, CPAP, BiPAP, and oxygen concentrators, witnessed the highest demand, as they were widely used for COVID-19 patients. Moreover, cancellations in elective procedures, including diagnostic procedures for respiratory diseases, also impacted the market. However, due to the resumption of elective procedures, large-scale manufacturing of respiratory devices and product launches have led to market recovery over the last two years.

Key Highlights

• In addition, the increasing prevalence of respiratory disorders, such as COPD, TB, asthma, and sleep apnea, technological advancements, and applications in homecare settings are actively affecting the growth of the market studied.
• According to an article published in BMC Medical Informatics and Decision Making Journal in June 2021, in Sweden, roughly 500,000 people are affected with COPD, out of which 3,000 die annually due to the disease. The high burden of COPD and respiratory diseases in the country is creating opportunities for innovative respiratory devices. Various key market players are availing respiratory devices for Swedish people. For instance, in May 2021, the Swedish language was updated in the SpiroHome mobile application, a compact alternative to clinical tests. Lung function testing can be performed anywhere using the SpiroHome Personal ultrasonic spirometer with the help of Bluetooth. Such updates are estimated to propel the utility of respiratory devices in the country due to the addition of the native language, thereby boosting the market growth during the forecast period.
• The utility of respiratory devices has been increasing in Sweden primarily due to the increasing prevalence of respiratory disorders. For instance, according to an article published in the Official Journal of Asian Pacific Society of Respirology in May 2021, COPD prevalence accounted for 8.6% in people aged over 40 years in Sweden. However, the mortality rate of COPD is still rising in women compared to men. This has been the primary reason for the growing demand for respiratory devices in Sweden and is estimated to propel the market growth during the forecast period.
• Owing to rapid advancements, launches, and production of respiratory devices in the country, the Swedish population has benefited from new and more effective technologies. For instance, in October 2022, Sweden announced a framework agreement with System Engineering Solutions (SES) for the domestic production of 460,000 protective masks. The large-scale production of disposable respiratory devices is anticipated to boost the market growth in the country.
• Therefore, owing to the aforementioned factors, the market studied is anticipated to witness growth over the forecast period. However, the high cost of devices is likely to impede market growth.

Sweden Respiratory Devices Market Trends

Inhalers are Expected to Witness Growth over the Forecast Period

Inhalers are common among asthma patients as a delivery method. Asthma inhalers are hand-held, portable devices that deliver medication to the lungs. A variety of asthma inhalers are available to help control asthma symptoms. Hence, as asthma prevalence increases in Sweden, the demand for inhalers is also expected to increase. This will likely propel the market growth in the region.

As per an article published in ECRJ in 2021, the overall asthma prevalence rate in the current year is 8.1% in Sweden. The high prevalence rate of asthma in the country and the COVID-19 outbreak caused various companies to manufacture the vaccine to be administered through inhalers due to the ease of administration. For instance, in July 2021, the lung-based inhalation, Sweden-based company Iconovo collaborated with ISR, an immunotherapy company, to develop a COVID-19 vaccine that can be stored at room temperature and is easily self-administered through an inhaler ICOone. Such developments are anticipated to propel the growth of the segment during the forecast period.

Technological Advancements and Increasing Applications in Homecare Setting is Expected to Drive The Market Growth Over The Forecast Period.

Technological advancements in respiratory devices, such as artificial intelligence, portable electronic spirometers, digital stethoscopes, and clinical decision support systems, are likely to propel the market growth. E-health has repeatedly been demonstrated to improve treatment quality, increase medication adherence, and enable early diagnosis of deterioration in chronic pulmonary diseases. E-health services are also often adopted for managing chronic diseases by the older population, as physicians can monitor patients while at home.

Moreover, as people are busy with their work, they hardly have time to visit hospitals and clinics for rehabilitation. Therefore, for people with COPD who find it challenging to reach pulmonary rehabilitation centers, home-based pulmonary rehabilitation is an option that is just as successful as center-based pulmonary rehabilitation at improving exercise capacity and quality of life.

According to the Swedish Health Services 2022 update, TeleSleep is a Swedish TeleHealth service that makes it possible for adults and children suffering from any sleep disorder to have initial evaluations when this type of exam is not readily available closer to home. The Swedish Neuroscience Institute (SNI) uses technology for its TeleStroke services, which is the foundation of the Swedish TeleSleep Program. The use of technologically advanced facilities for diagnosing sleep disorders is estimated to propel market growth in the country.

Additionally, according to Clinical Trials.gov, a clinical trial for home-based pulmonary rehabilitation was started in August 2021 with roughly 80 participants, and the estimated completion date is December 2024. Karolinska Institutet, based in Sweden, sponsored the trial. With the suggested home-based pulmonary rehabilitation program, combining video-guided workouts, activity tracking daily steps, and health coaching, the trial is expected to encourage patients with COPD to develop the habit of daily mindful physical activity habits. The program will enable patients to complete Pulmonary Rehabilitation (PR) at home, encourage behavior modification, and result in COPD patients who have been prescribed PR living more actively. Such trials in the country are estimated to create awareness about the prevention and care of the various respiratory diseases and propel market growth over the forecast period.

Sweden Respiratory Devices Market Competitor Analysis

The Swedish respiratory devices market is consolidated in nature due to the presence of a few companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies which hold market shares and are well-known. Some key market players are Dragerwerk AG, Fisher & Paykel Healthcare Ltd, Fosun Pharmaceutical (Breas Medical AB), GE Healthcare, GlaxoSmithKline PLC, Invacare Corporation, Koninklijke Philips NV, Medtronic PLC, and ICU Medical Inc., among others.

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