Sweden Respiratory Devices Market Size

Sweden Respiratory Devices Market Analysis

The Swedish respiratory devices market is expected to register a CAGR of 6.1% during the forecast period. The country's respiratory devices market was impacted by the COVID-19 pandemic as major respiratory devices, such as ventilators, nebulizers, CPAP, BiPAP, and oxygen concentrators, witnessed the highest demand, as they were widely used for COVID-19 patients. Moreover, cancellations in elective procedures, including diagnostic procedures for respiratory diseases, also impacted the market. However, due to the resumption of elective procedures, large-scale manufacturing of respiratory devices and product launches have led to market recovery over the last two years.

• In addition, the increasing prevalence of respiratory disorders, such as COPD, TB, asthma, and sleep apnea, technological advancements, and applications in homecare settings are actively affecting the growth of the market studied.
• According to an article published in BMC Medical Informatics and Decision Making Journal in June 2021, in Sweden, roughly 500,000 people are affected with COPD, out of which 3,000 die annually due to the disease. The high burden of COPD and respiratory diseases in the country is creating opportunities for innovative respiratory devices. Various key market players are availing respiratory devices for Swedish people. For instance, in May 2021, the Swedish language was updated in the SpiroHome mobile application, a compact alternative to clinical tests. Lung function testing can be performed anywhere using the SpiroHome Personal ultrasonic spirometer with the help of Bluetooth. Such updates are estimated to propel the utility of respiratory devices in the country due to the addition of the native language, thereby boosting the market growth during the forecast period.
• The utility of respiratory devices has been increasing in Sweden primarily due to the increasing prevalence of respiratory disorders. For instance, according to an article published in the Official Journal of Asian Pacific Society of Respirology in May 2021, COPD prevalence accounted for 8.6% in people aged over 40 years in Sweden. However, the mortality rate of COPD is still rising in women compared to men. This has been the primary reason for the growing demand for respiratory devices in Sweden and is estimated to propel the market growth during the forecast period.
• Owing to rapid advancements, launches, and production of respiratory devices in the country, the Swedish population has benefited from new and more effective technologies. For instance, in October 2022, Sweden announced a framework agreement with System Engineering Solutions (SES) for the domestic production of 460,000 protective masks. The large-scale production of disposable respiratory devices is anticipated to boost the market growth in the country.
• Therefore, owing to the aforementioned factors, the market studied is anticipated to witness growth over the forecast period. However, the high cost of devices is likely to impede market growth.