Canada Respiratory Devices Market
Report Overview
Canadas Respiratory Devices market size stood at around USD XX.X billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of around 8.73% during the forecast period.
The Canadian respiratory devices market was anticipated to record a CAGR of 8.73%, during the forecast period. The major factors attributing to the growth of the Canadian respiratory devices market are the rise in the number of chronic obstructive pulmonary disease patients (COPD), TB, asthma, and pneumonia cases. Chronic respiratory diseases are chronic diseases that affect the airways and other parts of the lungs. In Canada, COPD is the fourth most frequent cause of male hospitalization and the sixth most frequent cause of female hospitalization.
Market Drivers
The increasing prevalence of respiratory disorders, such as COPD, TB, Asthma, technological advancements, and large patient population, growing funding from the government for the health sector are major market drivers for Canada's respiratory devices market. Also, as per the Asthma.Ca 2019 report, it was reported that more than 3.8 million people in Canada are currently suffering from asthma, with around 850,000 of them being children under 14.Thus, the presence of such a large number of diseases will demand respiratory devices and drive the market in Canada. Furthermore, increasing R&D expenditure by innovators and generic players, technological advancements associated with respiratory devices, and the rising aging population will also fuel the Canadian respiratory devices market.
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Major Players
The Canadian respiratory devices market is competitive consisting of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with other companies to consolidate their market positions in the country. Some of the companies that are currently dominating the market are Bayer AG, Pfizer Inc., Merck & Co. Inc., CooperSurgical Inc., and Allergan PLC.
The Canada Respiratory Devices Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global Canada Respiratory Devices market. This report explores all the key factors affecting the growth of the global Canada Respiratory Devices market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.
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Market Segmentation
Respiratory devices comprise respiratory diagnostic devices, therapeutic devices, and breathing devices for administering long-term artificial respiration. It also includes a breathing apparatus used for resuscitation, by forcing oxygen into the lungs of a person who has undergone asphyxia.
By Type:
Canada Respiratory Devices Market can be segmented based on type as:
Diagnostic and Monitoring Devices
Sleep Test Devices
Peak Flow Meters
Pulse Oximeters
Others
Therapeutic Devices
CPAP Devices
BiPAP Devices
Humidifiers
Nebulizers
Ventilators
Oxygen Concentrators
Inhalers
Others
By Disposables
Masks
Breathing Circuits
Others
Due to the rising development of portable devices, such as CleveMed's SleepView [home sleep monitor], which incorporates multiple tests (oximetry, location, and cardiovascular and respiratory studies), home sleep monitoring is anticipated to experience exponential growth in the Canadian respiratory devices market.
Therapeutic devices are also estimated to witness healthy growth in the future attributed to the growing prevalence of respiratory disorders, rising chronic diseases, and growing geriatric population. The CPAP and BiPAP devices are widely used in the obstructive sleep apnea patient population. The rising sleep apnea population in Canada and the availability of reimbursement coverage in this region are expected to fuel the therapeutic device segment growth. This rising prevalence and enhanced patient compliance will likely positively impact segment growth.
By End user:
Based on end-user, the market is analyzed into hospitals and clinics, and home care. These hospitals are accounting for the largest market share. Growing public-private partnerships to improve access to healthcare services along with rapid developments in healthcare infrastructure are expected to be the key factors driving the growth of the respiratory care devices market for hospitals
Major Players
The Canadian respiratory devices market is competitive consisting of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with other companies to consolidate their market positions in the country. Some of the companies that are currently dominating the market are Bayer AG, Pfizer Inc., Merck & Co. Inc., CooperSurgical Inc., and Allergan PLC.
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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global Canada Respiratory Devices Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.
Strategic Points Covered in Table of Content of Global Canada Respiratory Devices Market:
Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Canada Respiratory Devices market
Chapter 2: Exclusive Summary - the basic information of the Canada Respiratory Devices Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Canada Respiratory Devices
Chapter 4: Presenting the Canada Respiratory Devices Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Canada Respiratory Devices market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source
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