How Is Improving Healthcare Infrastructure Aiding Respiratory Care Device Industry Growth?

A number of factors, such as the rising cases of respiratory illnesses, improving healthcare expenditure and infrastructure, surging pollution levels, growing urbanization rate, and rising aging population across the globe, are projected to boost the respiratory care device market. According to P&S Intelligence, the market is expected to reach $38,085.6 million by 2030. Moreover, the market is competitive in nature due to the surging number of local manufacturers.

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Furthermore, the respiratory care device industry is witnessing a rising number of product innovations by respiratory care device companies. These players have been actively involved in the launch and development of new and advanced products, which are affordable, to meet the need of consumers. Some of the key companies operating in the market and offering new, advanced, and cost-effective devices are General Electric Company, Masimo Corporation, Medtronic plc, Hamilton Medical AG, ResMed Inc., and Koninklijke Philips N.V.

The primary factor driving the demand for respiratory care devices across the world is the surging healthcare expenditure in developed and developing countries. The governments of these nations are increasingly investing in the healthcare sector to improve the infrastructure and quality of healthcare facilities that are being provided to their residents. Due to this, the accessibility and affordability of the treatment and diagnosis of different medical illnesses, including respiratory diseases, are increasing.

The type segment of the respiratory care device market is categorized into therapeutic, diagnostic, and monitoring devices. Among these, the therapeutic devices category holds the largest market share, of more than 60%, and it is also projected to generate the highest revenue in the coming years, witnessing the fastest growth during the forecast period. This can be mainly attributed to the high demand for therapeutic devices from hospital and homecare facilities for the treatment of several respiratory diseases, such as bronchitis and upper respiratory infections.

Furthermore, on the basis of end user, the respiratory care device industry is classified into hospitals, emergency centers, homecare settings, and others. Among these, the hospital category accounted for the largest revenue share in the market. This was due to the fact that hospitals generated the highest demand for these devices across the world because most patients prefer them for treatment, as these places have the best equipment and trained staff across all medical specialties. On the other hand, the home care category is projected to witness the fastest growth during the forecast period. 

Geographically, North America is the largest market for respiratory care devices, with a more than 40% value share, and it is also expected to lead the global market throughout the forecast period. This is attributed to the growing geriatric population, high healthcare investments, improved healthcare infrastructure, and high incidence of respiratory diseases. In the regional market, the U.S. holds the leading position owing the rising number of people suffering from respiratory illnesses in the country, such as the COVID-19 infection presently.

Thus, the improving healthcare expenditure and infrastructure and surging number of product launches are expected to propel the growth of the market during the forecast period.

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Sleep Apnea Devices Industry Analysis and Future Scope

Sleep apnea is a condition that affects inhalation and exhalation during sleeping. It often causes snoring. Sleep apnea can easily be identified if you have slept a full night, and still wake up feeling tired.

Common symptoms of Sleep Apnea

If you have experienced loud snoring, episodes in which you stop breathing during sleeping, usually reported by another person monitoring you are common symptoms of sleep apnea. Along with these, gasping for air, awakening with a dry mouth, insomnia, hypersomnia, difficulty in staying attentive being awake, and irritability are sleep apnea symptoms.

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Types of Sleep Apnea

Obstructive Sleep Apnea: This condition usually occurs when the muscles of the throat relax.

Central Sleep Apnea: This condition occurs when the brain stops sending proper signals for controlling breathing to muscles.

Complex Sleep Apnea Syndrome: This condition comprises both obstructive sleep apnea and central sleep apnea.

Causes of Sleep Apnea 

The changes in the lifestyle and sleeping patterns of people lead to a growing prevalence of obstructive sleep apnea with increasing work stress. In addition, the rising cases of sleep disorders with associated health conditions such as obesity and heart disease lead to the increasing demand for sleep apnea devices.

Sleep Apnea Treatment

The sleep apnea treatment provides ease in opening the airways for better inhalation and exhalation during sleeping. There are numerous devices to treat such conditions. CPAP is a most common technology comprised of numerous mouth appliances, machines, and specially designed machines.

CPAP

CPAP stands for Continuous Positive Airway Pressure. These machines are equipped with a mask that fits over both nose and mouth or only the nose. It blows air at pressure for keeping the airways open during sleep.

Mouth Devices for Sleep Apnea

Mandibular Advancement Device: It is a device that looks similar to a mouth guard worn by athletes. This snaps over both the tooth lower and upper. The hinges keep the lower jaw forward, which makes the tongue and soft palate stable to keep the airways open while asleep.

Tongue Retaining Device: It is similar to a splint that keeps the airway open by holding the tongue in place. Usually, doctors provide it as MAD.

Position Pillows: If you have ever searched for solutions online, then you must have found types of pillows to provide relief. These pillows can be used either the ways with or without a CPAP machine. You may find these pillows in different styles such as wedge shape that lifts the upper body.

Nerve Stimulation Devices

A hypoglossal nerve stimulator is utilized in a condition when the tongue or other tissue falls back and blocks the airway. It is a small size about the size of a pacemaker. Doctors may insert it in the chest through surgery. It can be turned on and off through a remote. This device monitors breathing patterns and sends signals to nerves for controlling muscles, including the tongue.

The major companies operating in the industry are:

1- Natus Medical Incorporated

2- BRAEBON Medical Corporation

3- Fisher & Paykel Healthcare Limited

4- ResMed Inc.

5- SLEEPON Inc.

6- Alaxo GmbH

7- BMC Medical Co. Ltd.

Therefore, radical shifts in lifestyle, stress, obesity, and cardiac diseases, lead to growing prevalence of sleep disorders.

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Why Are Sleep Disorder Patients Opting for Sleep Tech Devices?

The Sleep Charity estimates that insomnia affects around one in three persons in the U.K. Further, the Royal Australasian College of Physicians (RACP) states that around 33–45% of Australian adults experience inadequate sleep. Additionally, the American Sleep Association (ASA) reveals that approximately 30% of the adults suffer from insomnia in the U.S. The ASA also states that 25 million adults in the U.S. have obstructive sleep apnea. All these sleep disorders affect the mental health, body weight, work performance, thinking ability, and relationships of affected people and also lead to the development of diabetes and heart diseases.

Thus, the increasing prevalence of sleep disorders, such as insomnia, sleep apnea, restless legs syndrome, and parasomnias, is expected to drive the sleep tech devices market at a healthy CAGR of 14.5% during 2020–2030. The market was valued at $12,888.4 million in 2020 and it is projected to generate $49,984.7 million revenue by 2030. The market growth can also be attributed to the surging public awareness about the detrimental impacts of untreated sleep apnea. 

Sleep tech devices used to monitor sleep patterns of patients having insomnia, narcolepsy, sleep apnea, rapid eye movement (REM) sleep behavior disorder, and restless legs syndrome, are available in wearable and non-wearable forms. In the recent past, wearable devices were preferred over non-wearable variants, due to their portable nature and cost-effectiveness. Wearable devices are equipped with advanced microsensors that constantly monitor the physiological activities of an individual. Additionally, the ability of such devices to track-real time data makes them popular among people suffering from several sleep disorders.

The age segment of the sleep tech devices market is categorized into below 45 years, 45–64 years, and above 65 years. Under this segment, the below 45 years category is projected to demonstrate the fastest growth throughout the forecast period (2021–2030). This will be because of the extensive technical knowledge possessed by the people of this age group. In comparison to people of other age groups, individuals below 45 years can rapidly pick up new technology and master it. 

According to P&S Intelligence, North America will adopt the highest quantity of sleep tech devices in the foreseeable future. This will be on account of the high prevalence of chronic sleep disorders, the presence of a large number of obese people, the rise in the geriatric population, and the fast-paced lifestyle of people in the region. For instance, the Centers for Disease Control and Prevention (CDC) estimates that nearly 42.5% of adults aged 20 years and above in the U.S. were obese during 2017–2018. 

Whereas, the Asia-Pacific sleep tech devices market is expected to exhibit the fastest growth during the forecast period, owing to the increasing technological advancements, surging use of sleep technology, and booming geriatric population in the region. The United Nations Population Fund (UNFPA) states that the nearly 1.3 billion people in the APAC region will be over 60 years of age by 2050. As per the UNFPA, one in four people in APAC will be over 60 years old by 2050. 

Therefore, the surging incidence of sleep disorders and mounting public awareness about the ill effects of sleep apnea will create a huge requirement for sleep tech devices globally.

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