Market Size of Chile Respiratory Devices Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 125.05 Million |
| Market Size (2029) | USD 169.33 Million |
| CAGR (2024 - 2029) | 6.25 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Chile Respiratory Devices Market Analysis
The Chile Respiratory Devices Market size is estimated at USD 125.05 million in 2024, and is expected to reach USD 169.33 million by 2029, growing at a CAGR of 6.25% during the forecast period (2024-2029).
The SARS-CoV-2 virus that was responsible for the COVID-19 pandemic severely affected the respiratory system and had a significant impact on people with respiratory illnesses such as asthma and COPD in Chile. Hence, the demand for both respiratory diagnostics and therapeutics devices increased significantly during the peak of COVID-19 in the country, which had a significant impact on the respiratory devices market. However, with the vaccination, the cases of COVID-19 decreased significantly in the country, which has stabilized the demand for respiratory devices in the country. Still, the emergence of new SARS-CoV-2 strains might have an impact on the market during the forecast period.
The rising incidence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), tuberculosis (TB), asthma (Asthma), and sleep apnea (SAP), as well as technical developments and expanding applications in home care settings, are driving the expansion of the studied market. The high prevalence of respiratory disorders in Spain is one of the major factors driving the demand for respiratory devices.
An article published by the journal Sleep Epidemiology in December 2022 reported that a higher prevalence of self-reported sleep apnea problems was recorded in Chile, with a prevalence of 10.1% among the sample composed of 12,265 people over 17 years old. Similarly, a report published by the World Health Organization (WHO) in October 2022 reported that the prevalence of tuberculosis (TB) in 2021 in Chile was 16 per 100,00 people. Thus, such instances report the high prevalence of respiratory disorders in Chile, thereby driving the growth of the studied market in the country.
However, the high cost of the device can thwart the market growth.
