Argentina Respiratory Devices Market Size

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.