Argentina Respiratory Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Argentina Respiratory Devices Market Analysis
The Argentina respiratory devices market is projected to register a CAGR of 5.2% during the forecast period.
- The demand for respiratory devices, such as ventilators, CPAP, nebulizers, oxygen concentrators, airway clearance machines, oxygen systems, and BiPAP, has significantly increased due to the COVID-19 pandemic.
- Regulatory bodies in Argentina have recognized the need for respiratory therapeutic devices, such as medical ventilators and respirators, and emergency use authorizations were granted for various respiratory devices, augmenting their adoption during the pandemic. Research studies have shown that respiratory devices are critical in treating patients with COVID-19, highlighting the importance of these devices in affected countries.
- Additionally, the prevalence of respiratory disorders, such as chronic obstructive pulmonary disease (COPD), tuberculosis (TB), asthma, and sleep apnea, coupled with technological advancements and a large patient population, is driving market growth in Argentina. According to a report published by the Revista Americana de Medicina Respiratoria in February 2022, the prevalence of COPD in the urban general population of Argentina is 14.3%, and the presence of a large patient pool estimates that between 2.5 and 3 million patients are living with COPD in Argentina.
- Furthermore, increasing R&D expenditure by market players, technological advancements, and a rising aging population in Argentina, which has been increasing at an annual rate of 1.12% since 1973 and now stands at 11.9% in 2022, according to the World Data Atlas, will also fuel market growth. However, the high cost of devices and other products tailored for the elderly may hinder market growth to some extent.
Argentina Respiratory Devices Market Trends
Therapeutic devices in Argentina Respiratory Device is Estimated to Witness a Healthy Growth in Future.
- The therapeutic devices segment is expected to experience robust growth during the forecast period due to the increasing prevalence of respiratory disorders, a growing patient population with chronic diseases, and a rising geriatric population. Therapeutic devices such as CPAP devices, BiPAP devices, humidifiers, nebulizers, ventilators, oxygen Concentrators, and Inhalers are essential for the management of respiratory disorders. CPAP and BiPAP devices are widely used among patients with obstructive sleep apnea. The availability of reimbursement coverage and the rising number of sleep apnea and asthma patients in Argentina are supporting the market growth.
- According to data published by the Ministry of Health Argentina, over 1.4 million patients suffered from asthma in 2021, indicating that the increasing number of asthma patients will fuel the growth of the therapeutic device segment. Furthermore, the COVID-19 pandemic increased demand for respiratory devices to treat COVID-19 patients.
- According to a research study published in the National Library of Medicine (NLM), the COVID-19 pandemic shifted hospitals' focus to the procurement of basic equipment, such as ventilators. In 2020, the demand for ventilators from hospitals in Argentina increased by 4.9%, which is clearly associated with the treatment of COVID-19 patients. This rising prevalence of respiratory diseases, including COVID-19, is expected to drive the growth of the therapeutic device segment during the forecast period.
Technological Advancements in Respiratory Devices to Support the Market Growth
- The market growth is being driven by the increasing investments in research and development activities by major players, aimed at gaining a competitive edge over rivals. These efforts have led to the launch of technologically advanced products in the market.
- For example, Tecme Corporation showcased the latest developments in medical and health solutions related to the ventilation segment during the Arab Health exhibition in January 2023. Such activities promote the adoption of advanced products and support market growth during the forecast period.
- Additionally, the growing number of smokers in the country is contributing to the rising prevalence of respiratory diseases. The increasing population affected by respiratory diseases is directly fueling the demand for respiratory devices in the country.
Argentina Respiratory Devices Industry Overview
The market for respiratory devices is experiencing growth due to multiple factors. One of the primary drivers is the significant investments in research and development activities by major players in the industry. These investments are aimed at gaining a competitive advantage over rivals by launching technologically advanced products in the market.
For instance, Tecme Corporation recently showcased the latest developments in medical and health solutions related to the ventilation segment at the Arab Health exhibition in January 2023. Such activities promote the adoption of advanced respiratory devices and support market growth during the forecast period.
Argentina Respiratory Devices Market Leaders
Drägerwerk AG & Co. KGaA
Tecme SA
ResMed
Medtronic
General Electric Company
*Disclaimer: Major Players sorted in no particular order
Argentina Respiratory Devices Market News
- August 2022: With the aim of supporting countries in Latin America and the Caribbean to develop or update their operational plans to face future pandemics, the Pan American Health Organization (PAHO) held a regional workshop on preparedness and response to events with pandemic and epidemic potential in Buenos Aires.
- June 2022: CAIRE unveiled the Lifestyle portable oxygen concentrator, aimed at improving the quality of life for oxygen users throughout the country. The CAIRE Lifestyle portable oxygen concentrator is a medical device designed to provide oxygen therapy for individuals who require supplemental oxygen. It is a lightweight and compact device that the user can easily carry, allowing them to move around more freely and maintain an active lifestyle.
Argentina Respiratory Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Respiratory Disorders, such as COPD, TB, Asthma, and Sleep Apnea
4.2.2 Technological Advancements
4.2.3 Large Patient Population
4.3 Market Restraints
4.3.1 High Cost of Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 By Diagnostic and Monitoring Devices
5.1.1.1 Spirometers
5.1.1.2 Sleep Test Devices
5.1.1.3 Peak Flow Meters
5.1.1.4 Pulse Oximeters
5.1.1.5 Other Diagnostic and Monitoring Devices
5.1.2 By Therapeutic Devices
5.1.2.1 CPAP Devices
5.1.2.2 BiPAP Devices
5.1.2.3 Humidifiers
5.1.2.4 Nebulizers
5.1.2.5 Ventilators
5.1.2.6 Oxygen Concentrators
5.1.2.7 Inhalers
5.1.2.8 Other Therapeutic Devices
5.1.3 By Disposables
5.1.3.1 Masks
5.1.3.2 Breathing Circuits
5.1.3.3 Other Disposables
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Drägerwerk AG & Co. KGaA,
6.1.2 Tecme SA
6.1.3 ResMed
6.1.4 Medtronic
6.1.5 General Electric Company
6.1.6 Chart Industries
6.1.7 Drive DeVilbiss International
6.1.8 Fisher & Paykel Healthcare Limited.
6.1.9 GlaxoSmithKline PLC
6.1.10 Invacare Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Argentina Respiratory Devices Industry Segmentation
As per the scope, respiratory devices comprise respiratory diagnostic devices, therapeutic devices, and breathing devices for administering long-term artificial respiration. It also includes a breathing apparatus used for resuscitation by forcing oxygen into the lungs of a person who has undergone asphyxia.
Argentina's Respiratory Devices Market is segmented by type into diagnostic and monitoring devices, therapeutic devices, and disposables.
The report offers the value (in USD million) for the above segment.
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Argentina Respiratory Devices Market Research FAQs
What is the current Argentina Respiratory Devices Market size?
The Argentina Respiratory Devices Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Argentina Respiratory Devices Market?
Drägerwerk AG & Co. KGaA, Tecme SA, ResMed, Medtronic and General Electric Company are the major companies operating in the Argentina Respiratory Devices Market.
What years does this Argentina Respiratory Devices Market cover?
The report covers the Argentina Respiratory Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Argentina Respiratory Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Argentina Respiratory Devices Industry Report
Statistics for the 2024 Argentina Respiratory Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Argentina Respiratory Devices analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
