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

Spain's respiratory devices market is expected to register a CAGR of 4.9% over the forecast period.

The SARS-CoV-2 virus that was responsible for the COVID-19 pandemic severely affected the respiratory system and had a significant impact on people with respiratory illnesses such as asthma, and COPD in Spain. Hence, the demand for both, respiratory diagnostics and therapeutics devices increased significantly during the peak of the COVID-19 in the country which had a significant impact on the respiratory devices market in Spain. However, with the vaccination, the cases of COVID-19 decreased significantly in the country which has stabilized the demand for respiratory devices in the country but the emergence of new SARS-CoV-2 strains might have an impact on the market during the forecast period.

The rising incidence of respiratory diseases such chronic obstructive pulmonary disease (COPD), tuberculosis (TB), asthma (Asthma), and sleep apnea (SAP), as well as technical developments and expanding applications in home care settings, are driving the expansion of the studied market. The high prevalence of respiratory disorders in Spain is one of the major factors driving the demand for respiratory devices. For instance, an article published by the journal, Public Health Front, in May 2022, reported the high incidence of TB cases in Spain, especially among individuals with type-2 diabetes mellitus who were more prone to TB in Spain. Thus, high cases of TB demand increased respiratory devices, thereby driving the growth of Spain's respiratory devices market. Similarly, another article published by the journal, NPJ Prim. Care Respir. Med. volume in March 2022, reported that asthma's prevalence rates vary significantly in European countries. The article also quoted that the prevalence rate of asthma in Spain was estimated to be between 2.5% - 13.5%, while the prevalence of asthma in Barcelona was reported to be 6.3% - 6.6%. Thus, the high incidence of respiratory disorders in Spain is leading to an increasing demand for respiratory devices thereby driving the growth of the studied market.

Further, the technological advancements and new product launches by key market players are also propelling the growth of the studied market. For instance, in December 2021, Resyca’s Pulmospra inhaler received a CE-marked and is available in Spain including other European countries for specific indications. Similarly, in March 2022, Sandoz, acquired the respiratory device development company, Coalesce Product Development Limited. Sandoz gained a substantial new growth platform with this purchase, allowing them to expand their offerings of respiratory equipment and medicines throughout Europe, including Spain. Thus, such product launches, mergers, and acquisitions are leading to the development of a better respiratory device portfolio in Spain and are driving the growth of the studied market.

The market is anticipated to expand during the forecast time period as a result of factors such as the rising incidence of respiratory diseases like chronic obstructive pulmonary disease (COPD), tuberculosis (TB), asthma (A), and sleep apnea (SAP), as well as technological advancements and rising applications in homecare settings. However, the high cost of respiratory devices may slow down the growth of the studied market.

Spain Respiratory Devices Market Trends

Inhalers as Therapeutic Devices is Expected to Witness a Significant Growth Over the Forecast Period.

Respiratory inhalers are used to inhale medicines that are an essential part of the treatment for chronic lung diseases. Numerous products deliver medicine directly to the airways such as dry powder inhalers, metered-dose inhalers (MDIs), and soft mist inhalers. The factor that is driving the growth of this segment is the increasing prevalence of respiratory disorders in Spain. In addition, the increasing demand for treatment options for respiratory disorders and the accessibility of well-developed technologies are also contributing to the growth of this segment in Spain.

Furthermore, the increase in air pollution levels in Spain is increasing the cases of respiratory disorders, thereby increasing the demand for respiratory inhalers. For instance, in August 2022, EuroNews.green reported that higher concentrations of nitrogen oxide from increased traffic in Spain and Italy. Being exposed to high amounts of air pollution raises the risk of developing respiratory infections, illnesses, and cancer of the lung, among other health problems. As a result, the rising prevalence of respiratory diseases in Spain is driving up demand for inhalers and fueling the expansion of the market under study.

The increasing number of initiatives undertaken by the government of Spain to stop respiratory diseases by spreading awareness regarding the symptoms and the easy availability of new treatments are offering significant growth opportunities for this segment. For instance, in April 2022, the EFA reported that governments in European countries, including Spain alongside the GINA to further develop patient guidelines for asthma patients and their carers to increase asthma patients’ empowerment for better self-management and adherence to their care.The goal of this initiative is to argue for the funding and resources necessary to provide Europeans with asthma, allergies, and COPD with care that is prompt, convenient, and cutting-edge. Asthma and chronic obstructive pulmonary disease (COPD) patients are a target population for government programmes that attempt to care for them by providing them with respiratory devices in a timely fashion, and these programmes are driving the expansion of this market.

Thus, due to the rising cases of respiratory disorders in Spain, increasing air pollution and technological advancements are increasing the demand for inhalers, thereby driving the growth of this segment.

Sleep Test Devices Under Diagnostic and Monitoring Devices is Expected to Witness a Significant Growth Over the Forecast Period.

Over the next few years, the market for sleep testing devices is predicted to expand significantly due to factors such the rising number of people who are overweight or obese and the prevalence of respiratory disorders, as well as the introduction of innovative new products. A rising number of Spanish citizens are becoming overweight, which is a key factor in the market's expansion over the time under analysis. Sleep test devices are designed to monitor an individual's sleep because of the increased likelihood of obstructive sleep apnea in obese people due to the presence of excess tissue in the back of the throat. As a result, there has been a rise in the need for sleep testing equipment due to the epidemic of obesity.

Similarly, the rising prevalence of sleep-disordered breathing (SDB) like snoring, obstructive sleep apnoea/hypopnea syndrome (OSAHS), central sleep apnoea (CSA), and hypoventilation syndromes are also contributing to the growth of this segment. For instance, an article published in ADB, in January 2022, reported rising cases of sleep disorders among the geriatric population of Spain. Thus, rising cases of sleep disorders are driving the demand for sleep test devices, thereby contributing to the segment's growth.

Furthermore, new product launches and other market strategies of key market players are driving the growth of this segment. For instance, in October 2022, a European company Acurable introduced AcuPebble SA100, it is a wearable medical device to obtain a CE mark in Europe for the automated diagnosis of obstructive sleep apnoea at home. Improvements in treatment for sleep problems brought about by these innovations are fueling the sector. As a result, rising rates of obesity and sleep apnea, as well as the introduction of innovative new products, are fueling this sector's expansion.

Spain Respiratory Devices Market Competitor Analysis

Spain's respiratory devices market is competitive due to the presence of several companies in the country. The competitive landscape includes an analysis of a few international as well as local companies which hold market shares and are well-known as Dragerwerk AG, Fisher & Paykel Healthcare Ltd, GlaxoSmithKline PLC, General Electric Company (GE Healthcare), Invacare Corporation, Koninklijke Philips NV, Medtronic PLC, Smiths Medical Md, Inc., Resmed Inc., Rotech Healthcare Inc., Hamilton Medical AG, and Apex Medical Corporation.

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