Canada Respiratory Devices Market Size

Canada Respiratory Devices Market Analysis

The Canadian respiratory devices market is expected to register a CAGR of 8.73 percent during the forecast period.

The SARS-CoV-2 virus responsible for the COVID-19 pandemic severely affected the respiratory system and had a significant impact on people with respiratory illnesses such as asthma or COPD in Canada; hence, the demand for both respiratory diagnostics and therapeutic devices increased significantly during the peak of the COVID-19 pandemic in Canada. For instance, an article published by the journal Physics of Fluids in January 2021 reported a surge in demand for oxygen concentrators and ventilators in hospitals across Canada. Thus, COVID-19 increased the demand for respiratory devices during the pandemic. However, in the current scenario, with the decrease in COVID-19 cases, the demand for respiratory devices in the country may get reduced compared to the beginning of the pandemic, but with the emergence of new SARS-CoV-2 strains and other respiratory disorders, the market is expected to witness significant growth over the forecast period.

The factors that are driving the studied market in the country are the increasing prevalence of respiratory disorders, such as COPD, TB, asthma, and sleep apnea, and technological advancements and their increasing applications in the homecare setting. For instance, in March 2022, the Government of Canada reported that in 2020, 4.7 active TB cases were reported per 100,000 people. The corresponding rate for females was 4.2 cases per 100,000 population, compared to 5.1 cases per 100,000 population for men. Similarly, an article published by Scientific Reports in August 2022 reported that in Canada, 3.8 million people lived with asthma in the year 2021. Thus, high cases of respiratory disorders are increasing the demand for respiratory devices, thereby driving the market.

Technological advancements and new product launches are also driving the market in the country. For instance, in November 2021, Ezzy Group Inc., Toronto, reported the successful development of the company's first-ever compostable surgical-grade face mask manufactured in Canada. These compostable masks are ASTM F-2100 certified and Health Canada approved. Similarly, in February 2022, Aptar Pharma launched HeroTracker Sense, a novel digital respiratory health solution that transforms a standard metered dose inhaler (pMDI) into a smart connected healthcare device in North America. Thus, such product launches are providing better respiratory services to the people in the country, thereby driving the market.

Thus, due to the increasing prevalence of respiratory disorders, such as COPD, TB, asthma, and sleep apnea, and technological advancements and increasing applications in the homecare setting, the market is expected to witness significant growth over the forecast period. However, the high cost of respiratory devices may slow down the growth of the studied market.