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Artificial Respirator Market Size
Artificial Respirator Market size is poised to generate lucrative gains through 2032, driven by the increasing prevalence of respiratory disorders and chronic diseases, such as chronic obstructive pulmonary disease (COPD) and pneumonia. As per WHO, approximately 392 million individuals are estimated to be living with COPD, that is claiming lives of over 3 million people every year.
Additionally, the ageing population, the integration of smart technologies and the advent of portable & user-friendly artificial respirators help in boosting the product adoption. As per UN.org, the global population of individuals aged 65 years or older is anticipated to more than double, increasing from 761 million in 2021 to 1.6 billion by 2050.
Artificial Respirator Market Trends
Innovations such as AI & ML are being incorporated into respiratory support devices, allowing for personalized and adaptive treatment approaches. For instance, in November 2023, Samay, a U.S.-based company, announced results of artificial intelligence (AI) based wearable device, Sylvee, in individuals with chronic obstructive pulmonary disease (COPD). It found that the device was capable of diagnosing COPD with 90% accuracy. This enables real-time monitoring of patients, facilitating timely adjustments in ventilation parameters for optimized therapy. The emphasis on telemedicine and remote patient monitoring further accelerates the adoption of such advanced respiratory technologies.
Artificial Respirator Market Analysis
The constant pressure product segment is expected to record notable gains over the forecast period, due to the rising prevalence of sleep apnea. As per NCOA, around 936 million adults worldwide are expected to experience mild to severe obstructive sleep apnea. The demand for constant pressure artificial respirators is surging, driven by the need for reliable, non-invasive ventilation solutions. These respirators offer a stable and continuous airflow, addressing the respiratory needs of patients. Additionally, technological advancements, including improved algorithms and enhanced user interfaces will stimulate the product adoption.
Hospitals & clinics segment is set to record stellar growth through 2032, driven by the increasing occurrence rate of lung disorders. These medical institutes offer immediate and specialized care to patients with diverse respiratory conditions. The growing awareness among healthcare professionals about the product efficacy in providing life-saving respiratory support contributes to increased adoption. The ongoing emphasis on upgrading critical care infrastructure in hospitals & clinics further fuels the demand for advanced artificial respirators.
Europe artificial respirator market is poised to grow at an exponential rate over 2024 to 2032, backed by the prevalence of lung diseases and heart conditions. In 2023, in the UK, one out of every five individuals experienced a respiratory condition. The region's commitment to patient safety and adherence to regulatory frameworks ensure that the product meets the highest standards of efficacy and safety, instilling confidence among healthcare professionals and end-users. Additionally, collaborations between healthcare providers, research institutions, and notable players is favoring the development of cutting-edge technologies.
Artificial Respirator Market Share
Some of the prominent artificial respirator industry players include:
- Fisher & Paykel Healthcare
- CareFusion
- Dräger
- Ambu
These companies are focusing on product portfolio expansion and other strategies such as partnership, collaborations, and acquisitions to reinforce their presence in the global market.
Artificial Respirator Industry News
- In October 2022, AirPhysio collaborated with Apollo Hospitals Group and Medsmart to introduce respiratory devices in India.
- In November 2022, Fisher & Paykel Healthcare unveiled a range of products, including the F&P 950 respiratory humidification system, at the MEDICA annual medical technology trade fair, to ensure effective respiratory care.