Market Trends of Australia Respiratory Devices Industry
Ventilators Segment is Expected to Show Better Growth in the Forecast Years
- A ventilator is a machine that pumps oxygen-rich air into the lungs. The segment is expected to grow during the forecast period owing to the high burden of respiratory diseases such as lung cancer and asthma in the country. In addition, the donations of ventilators by the government and technological advancement and launches by market players are also projected to boost the segment's growth.
- According to the Cancer Council 2022 report, lung cancer is the fifth most commonly diagnosed cancer in Australia, and it is estimated that one in 20 people will be diagnosed by the time they are 85. It is also estimated that more than 14,500 people were diagnosed with lung cancer in 2022. In lung cancer, nebulization chemotherapy is suggested, and its management requires ventilation in most cases. Hence, the high burden of lung cancer in the country is expected to propel the demand for ventilators in the country, thereby propelling market growth.
- Additionally, the initiatives by the government to donate ventilators to countries in need indicate the high production and availability of such devices in the country. For instance, in June 2021, the Morrison Government stood with its partners in the Indo-Pacific as they faced significant health and humanitarian challenges from COVID-19 by delivering oxygen medical supplies to India, Nepal, and Sri Lanka. Australia also supplied 3000 ventilators and 250 oxygen concentrators to India, which was part of its USD 37.1 million packages of support for India. Such initiatives are expected to expedite the production of ventilators in the country during the forecast years.
- Furthermore, in January 2023, Getinge launched its new Servo-c mechanical ventilator, offering lung-protective therapeutic tools in Australia to treat both pediatric and adult patients. Servo-c is intended to make health care accessible and affordable for more hospitals around the world. The rising launches of technologically advanced ventilators are also contributing to the segment's growth during the forecast period.
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Spirometers Segment is Expected to Witness significant Growth Over the Forecast Period.
- Spirometers measure various lung function parameters, such as the volume of air a person can inhale and exhale and breathing rate. These measurements help in diagnosing and monitoring respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and other lung disorders. The segment is expected to grow due to the high burden of smoking and rising research and development activities by market players for the development of innovative spirometers in the country, contributing significantly to market growth.
- The high prevalence of smoking in Australia is also expected to increase the prevalence of various respiratory diseases, thus increasing the usage of spirometers for measuring lung function required for the diagnosis of diseases. For instance, according to data updated by the Australian Bureau of Statistics in December 2021, an estimated one in ten adults were daily smokers (10.7% or 2.1 million adults) in Australia in 2021, and men were more likely than women to smoke daily (12.6% compared to 8.8%). The source also stated that adults with fair or poor health were more likely to be current daily smokers (17.7%). Therefore, the high burden of smoking in the country is expected to boost the demand for spirometers to monitor respiratory conditions such as COPD and asthma.
- Additionally, in March 2021, Vyaire Medical launched the AioCare (HealthUp SA, Poland) mobile spirometry system in more than 15 countries, including Australia and other countries. This new technology allows physicians to promptly diagnose pulmonary diseases, including asthma and COPD, as accurately as hospital-grade spirometers and performs high-quality patient monitoring via advanced digital connectivity at home. The rising launches of technologically advanced spirometers are expected to boost its demand during the forecast period.
- Therefore, owing to the high burden of smoking and rising launches of technologically advanced spirometers, the segment is expected to witness significant growth during the forecast period.
