Respiratory Devices Market in Australia by End-user and Type - Forecast and Analysis 2022-2026

Respiratory Devices Market Size 2022-2026

The respiratory devices market share in Australia is expected to increase by USD 458.32 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.44%.

The growth of the respiratory devices market in Australia is driven by increasing patient awareness of respiratory diseases, with more focus on early detection and treatment. Rising incidences of disorders like COPD and asthma have led to a heightened need for respiratory treatments, supported by government and organizational efforts. Additionally, the growing research into clinical trials and molecular targets for diseases like COPD and COVID-19 is contributing to market expansion, with promising developments in biologic therapies. However, the high costs of respiratory diagnostic products, especially molecular testing, present a challenge. These high costs, combined with indirect expenses like hospitalization, may hinder market growth, particularly in price-sensitive markets. Despite this, ongoing research and awareness initiatives will continue to drive the market forward.

What will the Respiratory Devices Market Size in Australia be During the Forecast Period?

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The Respiratory Devices Market in Australia is witnessing significant growth due to the rising prevalence of chronic respiratory diseases and the increasing need for respiratory care. Technological advancements in portable devices, such as nebulizers, smart inhalers, and wearable technology, are enhancing respiratory health outcomes. The demand for oxygen therapy, including oxygen masks, nasal cannula, and ventilators, is also increasing due to the growing patient population and air pollution. Healthcare providers are focusing on improving patient adherence through diagnostic tools like spirometers, pulse oximeters, and polysomnography devices. Furthermore, the shift towards home healthcare solutions and outpatient admissions is driving the market. Artificial intelligence is being integrated into respiratory therapy devices, offering more effective management options for sleep apnea and other respiratory conditions, contributing to the market's growth.

Respiratory Devices Market Dynamics

The increase in patient awareness is notably driving the respiratory devices market growth in Australia, although factors such as high costs of respiratory diagnostic products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the respiratory devices industry in Australia. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

The Respiratory Devices Market in Australia is expanding with the rise in chronic respiratory diseases and increasing focus on improving respiratory health. The demand for airway clearance devices like nebulizers, smart inhalers, and ventilators is growing due to the high disease burden and prevalence of conditions such as sleep apnea and chronic obstructive pulmonary disease (COPD). Healthcare infrastructure improvements and the adoption of home healthcare solutions have contributed to this growth, with patients now more likely to manage their conditions at home. Respiratory professionals are utilizing technological advancements like respiratory sensors and positive airway pressure devices to improve patient adherence. The increasing demand for consumables and accessories, including masks and oxygen therapy devices, further supports the growth of the market. Additionally, diagnostic devices like spirometers and pulse oximeters are crucial in assessing respiratory parameters and managing breathing issues effectively.

Key Respiratory Devices Market Driver in Australia

One of the key factors driving growth in the respiratory devices market in Australia is the increase in patient awareness. Over the years, awareness and understanding of respiratory diseases have increased. The incidence of respiratory disorders has increased significantly; the disease is expected to be the third leading cause of death in the future. The early detection of disease with treatment and smoking cessation counseling can control respiratory disorders, driving the demand for upper respiratory tract infection treatment. Community leaders, policymakers, and government agencies are working in collaboration to create patient awareness about respiratory diseases. The National Institutes of Health (NIH) has taken several initiatives to raise awareness about respiratory disorders. The National Heart, Lung, and Blood Institute (NHLBI) initiated the National Asthma Education and Prevention Program (NAEPP) to raise awareness about the effective treatment and prevention of asthma. Such efforts for increasing awareness of respiratory diseases and their available treatment and diagnostic options will drive market growth during the forecast period.

Key Respiratory Devices Market Trend in Australia

The expanding research through new clinical trials and approaches is another factor supporting the respiratory devices market share growth in Australia. Significant research is underway to develop an ideal curative approach for treating respiratory diseases, such as COPD, RSV, and COVID-19. Researchers are identifying molecular targets that lead to disease progression in diseases such as COPD. The identification of molecular targets is necessary to develop novel biologic therapies, such as monoclonal antibodies, which can target the physiological proteins that are responsible for disease progression. Although some monoclonal antibodies had initially failed to comply with the regulatory guidelines, there are other similar products in the pipeline for COPD. Apart from clinical trials for several testing procedures that may enter the market or are in the registration phase, there are novel small molecular approaches that hold promising potential for the treatment of COPD and COVID-19, including the approval of respiratory devices or assays. These advancements will drive the growth of the market during the forecast period.

Key Respiratory Devices Market Challenge in Australia

The high costs of respiratory diagnostic products will be a major challenge for the respiratory devices market in Australia during the forecast period. The respiratory devices market in Australia is growing at a steady pace. However, the high costs associated with molecular diagnostic products to test respiratory system viruses such as influenza (flu) virus and respiratory syncytial virus (RSV) pose a challenge in price-sensitive markets such as developing economies. Also, the increasing demand for molecular testing products for respiratory diseases is hampered by their high costs. The diagnosis and treatment of respiratory infections also include indirect costs such as hospitalization, which can increase the overall costs for the diagnosis and treatment of respiratory diseases. Hospitals and clinics mostly prefer molecular testing to ensure the accuracy of test results and reduce the chances of re-admission, thereby increasing the cost of respiratory devices. Such factors act as a barrier for the respiratory devices market in Australia which, in turn, is expected to negatively impact the growth of the market.

This respiratory devices market in Australia analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global respiratory devices market in Australia as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the respiratory devices market in Australia during the forecast period.

Who are the Major Respiratory Devices Market Vendors in Australia?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Bellavista Medical ANZ
• Bird Healthcare Pty Ltd
• Chart Industries Inc.
• Dragerwerk AG and Co. KGaA
• Fairmont Medical Products Pty Ltd.
• Fisher and Paykel Healthcare Corp. Ltd.
• General Electric Co.
• GlaxoSmithKline Plc
• Invacare Corp
• Medical Depot Inc.

This statistical study of the respiratory devices market in Australia encompasses successful business strategies deployed by the key vendors. The respiratory devices market in Australia is fragmented and the vendors are deploying growth strategies such as M&A and partnerships, new product launches, and online and brick-and-mortar sales of their products to expand their product portfolios and geographical reach to compete in the market.

Product Insights and News

• Invacare Corp - The company offers respiratory devices that are useful for patients with health disorders and failure in respiratory functions, under the brand name of Invacare.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The respiratory devices market in Australia forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Respiratory Devices Market in Australia Value Chain Analysis

Our report provides extensive information on the value chain analysis for the respiratory devices market in Australia, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the healthcare equipment market includes the following core components:

• Research and development
• Inputs
• Operations
• Distribution
• Marketing and sales
• Post-sales and services
• Industry innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating End-user Segments in the Respiratory Devices Market in Australia?

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The respiratory devices market share growth in Australia by the hospitals segment will be significant during the forecast period. Hospitals are the key end-users that drive the growth of the respiratory devices market in Australia. The growing number of hospitals has increased the demand for respiratory devices in Australia. A few multi-specialty hospitals that function under government sponsorships, private ownerships, or public-private partnerships have adequate budgets to purchase such equipment. Vendors present in the market offer a wide range of products which are mainly used by the hospitals. Thus, the growing usage of respiratory devices in hospitals is expected to enhance the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the respiratory devices market size in Australia and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Respiratory Devices Market in Australia Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive respiratory devices market growth in Australia during the next five years
• Precise estimation of the respiratory devices market size in Australia and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the respiratory devices industry in Australia
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of respiratory devices market vendors in Australia

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