Chile Respiratory Devices Market Size
| 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 |
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.
Chile Respiratory Devices Market Trends
Sleep Test Device Segment is Expected to Show Better Growth Over the Forecast Period
Sleep test devices are expected to register exponential growth due to the increasing availability of portable instruments, such as CleveMed’s SleepView [home sleep monitor], which integrates several studies (oximetry, position, and cardiovascular and respiratory studies). Also, some of the sleep testing devices can be rented, which results in market expansion, and this will further fuel their adoption. Furthermore, with the rising burden of respiratory diseases, such as Asthma and COPD, the demand for respiratory devices is also expected to rise, which will propel the market growth over the forecast period.
Similarly, the rising prevalence of sleep-disordered breathing (SDB) like snoring, obstructive sleep apnoea/hypopnea syndrome (OSAHS), central sleep apnoea (CSA), and hypoventilation syndromes are also contributing to the growth of this segment. For instance, an article published in ADB in January 2022 reported rising cases of sleep disorders among the geriatric population of Spain. Thus, rising cases of sleep disorders are driving the demand for sleep test devices, thereby contributing to the segment's growth.
There is a linear correlation between obesity and sleep apnea. In obese people, fat deposits in the upper respiratory tract narrow the airway; there is a decrease in muscle activity in this region, leading to hypoxic and apneic episodes, ultimately resulting in sleep apnea. For instance, Obesity Atlas reported that 37.7% of men and 38.7% of women in Chile are expected to have a BMI of more than 30. As a result, the segment is expected to witness growth over the forecast period.
Masks Segment is Expected to Witness High Growth Over the Forecast Period.
Respiratory inhalers are used to inhale medicines that are an essential part of the treatment for chronic lung diseases. Numerous products deliver medicine directly to the airways such as dry powder inhalers, metered-dose inhalers (MDIs), and soft mist inhalers. The factor that is driving the growth of this segment is the increasing prevalence of respiratory disorders in Chile. In addition, the increasing demand for treatment options for respiratory disorders and the accessibility of well-developed technologies are also contributing to the growth of this segment in Chile.
The increasing number of initiatives undertaken by the government of Chile to stop respiratory diseases by spreading awareness regarding the symptoms and the easy availability of new treatments are offering significant growth opportunities for this segment. For instance, in May 2022, an article published by the Latin American Government reported that developing patient guidelines for asthma patients and their carers increases asthma patients’ empowerment for better self-management and adherence to their care. The goal of this initiative is to argue for the funding and resources necessary to provide Latin American countries with asthma, allergies, and COPD care that is prompt, convenient, and cutting-edge. Asthma and chronic obstructive pulmonary disease (COPD) patients are a target population for government programs that attempt to care for them by providing them with respiratory devices in a timely fashion, and these programs are driving the expansion of this market.
Furthermore, the increase in air pollution levels in Chile is increasing the cases of respiratory disorders, thereby increasing the demand for respiratory inhalers. For instance, in August 2022, ChileNews.green reported that higher concentrations of nitrogen oxide from increased traffic in Latin American countries, including Chile. Being exposed to high amounts of air pollution raises the risk of developing respiratory infections, illnesses, and cancer of the lungs, among other health problems. As a result, the rising prevalence of respiratory diseases in Chile is driving up demand for inhalers and fueling the expansion of the market under study.
Thus, due to the rising cases of respiratory disorders in Chile, increasing air pollution and technological advancements are increasing the demand for inhalers, thereby driving the growth of this segment.
Chile Respiratory Devices Industry Overview
The Chilean respiratory devices are moderately competitive due to the presence of a few market players. The global key players are manufacturing the majority of respiratory devices. Market leaders with more funds for research and a better distribution system have established their position in the market, which has helped the market grow. Some of the companies working in this market segment are Dragerwerk AG, Fisher & Paykel Healthcare Ltd, GE Healthcare, GlaxoSmithKline PLC, Invacare Corporation, Koninklijke Philips NV, and Medtronic PLC.
Chile Respiratory Devices Market Leaders
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Dragerwerk AG
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GE Healthcare
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GlaxoSmithKline PLC
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Koninklijke Philips NV
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Medtronic PLC
*Disclaimer: Major Players sorted in no particular order
Chile Respiratory Devices Market News
- July 2022: Smile Train, Inc. launched the Lifebox-Smile Train pulse oximeter with their long-standing partner Lifebox to scale up access to pulse oximetry for anesthesia and critical care.
- July 2022: Omron Healthcare announced its latest advancement in the oxygen therapy category with the launch of a portable Oxygen concentrator. It is a medical molecular sieve-based concentrator providing a continuous supply of high-purity oxygen.
Chile Respiratory Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Respiratory Disorders
4.2.2 Increasing Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of Devices
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Value in USD)
5.1 By Type
5.1.1 By Diagnostic and Monitoring Devices
5.1.1.1 Spirometers
5.1.1.2 Sleep Test Devices
5.1.1.3 Peak Flow Meters
5.1.1.4 Pulse Oximeters
5.1.1.5 Other Diagnostic and Monitoring Devices
5.1.2 By Therapeutic Devices
5.1.2.1 CPAP Devices
5.1.2.2 BiPAP Devices
5.1.2.3 Nebulizers
5.1.2.4 Oxygen Concentrators
5.1.2.5 Ventilators
5.1.2.6 Inhalers
5.1.2.7 Other Therapeutic Devices
5.1.3 By Disposables
5.1.3.1 Masks
5.1.3.2 Breathing Circuits
5.1.3.3 Other Disposables
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Dragerwerk AG
6.1.2 Fisher & Paykel Healthcare Ltd
6.1.3 GE Healthcare
6.1.4 GlaxoSmithKline PLC
6.1.5 Invacare Corporation
6.1.6 Koninklijke Philips NV
6.1.7 Medtronic PLC
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Chile Respiratory Devices Industry Segmentation
As per the scope of the report, respiratory devices include respiratory diagnostic devices, therapeutic devices, and breathing devices for administering long-term artificial respiration. It may also include a breathing apparatus used for resuscitation by forcing oxygen into the lungs of a person who has undergone asphyxia.
Chile’s respiratory devices market is segmented by type (diagnostic and monitoring devices (spirometers, sleep test devices, peak flow meters, pulse oximeters, and other diagnostic and monitoring devices), therapeutic devices (CPAP devices, BiPAP devices, nebulizers, oxygen concentrators, ventilators, inhalers, and other therapeutic devices), and disposables (masks, breathing circuits, and other disposables).
The report offers the value (in USD) for the above segments.
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Chile Respiratory Devices Market Research FAQs
How big is the Chile Respiratory Devices Market?
The Chile Respiratory Devices Market size is expected to reach USD 125.05 million in 2024 and grow at a CAGR of 6.25% to reach USD 169.33 million by 2029.
What is the current Chile Respiratory Devices Market size?
In 2024, the Chile Respiratory Devices Market size is expected to reach USD 125.05 million.
Who are the key players in Chile Respiratory Devices Market?
Dragerwerk AG, GE Healthcare, GlaxoSmithKline PLC, Koninklijke Philips NV and Medtronic PLC are the major companies operating in the Chile Respiratory Devices Market.
What years does this Chile Respiratory Devices Market cover, and what was the market size in 2023?
In 2023, the Chile Respiratory Devices Market size was estimated at USD 117.23 million. The report covers the Chile Respiratory Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Chile Respiratory Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Chile Respiratory Devices Industry Report
Statistics for the 2024 Chile Respiratory Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Chile Respiratory Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
