Australia Respiratory Care Devices Market to Grow with an Impressive CAGR until 2026
Increasing
pollution in the country to drive the Australia Respiratory Care Devices Market
growth in the forecast period, 2022-2026.
According to TechSci report, “Australia
Respiratory
Care Devices Market By
Product Type (Therapeutic Devices, Monitoring Devices, Diagnostic Devices,
Consumables & Accessories), By Indication (Chronic Obstructive Pulmonary
Disease, Sleep Apnea, Asthma, Infectious Diseases, Others), By End User
(Hospitals & Clinics, Ambulatory Care Centers, Others), By Region,
Competition Forecast & Opportunities, 2026”, Australia respiratory care devices is
anticipated to grow on account of the increasing number of respiratory disorders
in the country and the surge in the demand for early diagnosis, and effective
treatment in the forecast period, 2022-2026. The market is expected to grow on the
attributes like rapid growth in the geriatric population, rising incidence of
chronic diseases (including COPD and asthma), and the cost advantages of home
care devices and services. High growth potential in emerging
markets, healthcare decentralization, and the evolution of miniaturized devicesare some of the growth sectors that new
players can exploit to settle their own market and flourish if the focus on the
mentioned attributes. Moreover, owing to the rising healthcare costs, a large
number of patients suffering from chronic respiratory diseases prefer to
undergo treatments in home care settings. This trend is expected to increase
the demand for products such as nebulizers, ventilators, and CPAP devices, as
they are used by patients to treat, diagnose, and monitor a variety of
respiratory diseases in home care settings, thereby supporting the growth of
the Australia respiratory care devices market in the next five years, until
2026.
Respiratory
care devices refer to medical equipment which is used for the diagnosis,
management, care, control, treatment and evaluation of patients with
cardiopulmonary abnormalities. These are utilized in the cases of degenerative
lung diseases including asthma, emphysema, chronic bronchitis, chronic and
acute respiratory diseases. These devices include therapeutic devices like ventilators,
pap devices, nebulizers, oxygen concentrators, humidifiers, inhalers, others;
monitoring devices such as pulse oximeters, gas analyzers, capnographs.
Diagnostic devices like spirometers, peak flow meters, polysomnography (PSG)
devices, and other consumable & accessories like masks, breathing circuits,
disposable resuscitators, others are the examples of respiratory care devices,
the sales of which are rapidly increasing and thus driving the growth of the
Australia respiratory care devices market in the next five years.
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The Australia respiratory
care devices market is segmented by product type, indication, end user, competitive
landscape, and regional distribution. Based on the indication, the market is
further fragmented into chronic obstructive pulmonary disease, sleep apnea,
asthma, infectious diseases, and others. Chronic obtrusive pulmonary disorder
(COBD) is a very severe lung disorder, which is affecting not only the
Australian population, but is prevalent across the whole world. The rising
instances of the disease is catering to the growth of the sub-segment of the
market and hereby recording maximum sales of the respiratory care devices
required in the treatment, early diagnosis and post-surgery care. Increasing instances of smoking, vehicular smoke emissions
and industrialization are also driving the growth of the market by causing the
patient suffering from respiratory disorders. Growing incidences of
preterm birth, increase in urbanization and pollution and changing environment
and lifestyle of people, along with presence of a strong pipeline of products
awaiting approval is anticipated to affect the market growth in future five
years, positively.
Some of the top
players in the Australia respiratory care devices market are, GE Healthcare
Australia Pty Ltd., Medtronic Australasia Pty Ltd, ResMed Inc (Australia),
Koninklijke Philips N.V. (Australia), Invacare Australia, Draeger Australia
Pty. Ltd., Fisher & Paykel Healthcare Pty Limited, Omron Healthcare
Australia, 3M Australia,Masimo
Australia Pty. Ltd., among others. The companies are involving themselves into
research and development to provide better quality products.
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“New players may consider investing in the research and development of
the technological advanced respiratory care devices. Healthcare industry in the
country is developed and further upgradation is also continued, and
thus, the boom in the market is confirmed. Research and development is
appreciatedby
governmental aids too. New players entering in the market with investments in
the development of the technologically advanced products would ensure the
growth of the market in the upcoming five years,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm. “Australia
Respiratory Care Devices Market By Product Type (Therapeutic Devices,
Monitoring Devices, Diagnostic Devices, Consumables & Accessories), By
Indication (Chronic Obstructive Pulmonary Disease, Sleep Apnea, Asthma,
Infectious Diseases, Others), By End User (Hospitals & Clinics, Ambulatory
Care Centers, Others), By Region, Competition Forecast & Opportunities,
2026” has
evaluated the future growth potential of Australia Respiratory Care Devices
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Australia Respiratory Care
Devices market.
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