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 devices are 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 appreciated by 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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