Market Trends of Argentina Respiratory Devices Industry
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.
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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.
