Respiratory diseases are infections of airways and other parts including disorders of bronchi, respiratory tract, alveoli, nerves and tissues involved in respiration. Respiratory disorders vary from mild conditions such as cold to severe life threatening conditions such as bacterial pneumonia and lung cancer. Respiratory disorders are characterized by mild to severe chest pain, cough, hemoptysis, and breathlessness. Owing to large surface area, respiratory tract is continuously exposed to large number of microorganisms. However, respiratory tract have ability to induce self-preventive mechanism to prevent entry of any foreign microbes into the body through respiratory passage. Some of the common respiratory disorders include chronic obstructive pulmonary disease (COPD), chronic bronchitis, asthma, and pneumonia. These respiratory diseases and allergies including asthma are caused due to continuous exposure to air dust particles, inadequate development and function of lungs before or during childhood, genetic factors such as elevated level of certain enzymes (IgE), and low immune response and functioning of immune system.
These chronic respiratory disorders are not completely curable, though they can be minimized by various available forms of treatment including use of devices such as oxygen concentrators, liquid oxygen, and oxygen pumps. Acetyl cysteine medication and pulmozyme inhalers are also effective in treating respiratory disorders. A well balanced diet help to boost immune system leading to increase immune response of the body to various external pathogenic organisms thereby having positive impact on the overall health of an individual. Severe forms of COPD and asthma require long term treatments including use of mechanical ventilation for providing adequate oxygen and use of ipratropium drugs for treating acute asthma. Moreover, long term monitoring is very much essential for treatment and management of various respiratory disorders.
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Increasing geriatric population, rise in incidences of chronic respiratory diseases, sedentary lifestyle and rise in air pollution level is expected to increase the demand for respiratory care devices. Number of people with aged 60 and more has increased substantially in the past few years. According to United Nations (UN), aging population is expected to grow at 56% from 901 million in 2015 to 1.4 billion by 2050. Increasing elderly population is at high risk of developing respiratory infections owing to decrease immune response and anatomical changes in the lungs. Another major factor responsible for increase demand for respiratory care devices is increasing incidence of chronic respiratory diseases such as COPD and asthma. According to a report published by Global Asthma Network in 2014, around 334 million people worldwide were suffering from asthma and this number is expected to increase by 100 million in 2025. Such high prevalence of asthma will drive the growth of the respiratory care devices market. However, certain side effects such as morning headaches and fatigue associated with long term use of respiratory devices, dearth of awareness about respiratory disorders, and availability of alternative treatment options (medications) can hamper the growth of the global market for respiratory care devices.
Currently, major players operating in the global market are focusing on developing highly advanced smart end devices to provide effective and timely treatment. With rapid ongoing developments related to homecare devices, medical care is no more only confined to clinics and laboratories. Healthcare infrastructure is rapidly changing owing to introduction of new technologies such as web based interaction and telemedicine that enable remote contact between patients and healthcare providers. These advanced technological developments will increase demand for highly sophisticated respiratory care devices thereby providing large number of growth opportunities for key players.
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The major players in the global respiratory care device market include Hamilton Medical AG, Drägerwerk AG & Co. KGaA, Becton, Dickinson and Company, Philips Healthcare, Medtronic plc., Masimo Corporation, ResMed, Inc., and Fisher & Paykel Healthcare. Technological innovations and new product development is the key strategy adopted by these players to expand and strengthen their product portfolio in order to sustain in this market at global level. For instance, in May 2017, Fisher & Paykel Healthcare launched new CPAP device used in treatment of obstructive sleep apnea. This device has built-in Bluetooth connectivity option to ensure both patients and healthcare professionals will receive vital information whenever required. This device will be available in New Zealand and Australia from June 2017.
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