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.
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 Size Summary
The Chile respiratory devices market is experiencing growth driven by the increasing prevalence of respiratory diseases such as asthma, COPD, and sleep apnea, alongside technological advancements and expanding applications in home care settings. The impact of the COVID-19 pandemic significantly boosted the demand for respiratory diagnostics and therapeutic devices, although the market has since stabilized with the decrease in COVID-19 cases. However, the emergence of new SARS-CoV-2 strains could still influence market dynamics. The high prevalence of respiratory disorders in Chile, as reported by various health studies, continues to propel the market forward, despite challenges such as the high cost of devices.
The market is characterized by a moderate level of competition, with global key players like Dragerwerk AG, GE Healthcare, and Koninklijke Philips NV leading the industry. These companies benefit from substantial research funding and robust distribution networks, which have solidified their market positions. Government initiatives aimed at raising awareness and providing timely care for respiratory conditions are also contributing to market growth. Additionally, the rising air pollution levels in Chile are increasing the demand for respiratory inhalers, further fueling market expansion. Technological innovations, such as portable sleep test devices, are expected to drive significant growth in specific segments, enhancing the overall market landscape.
Chile Respiratory Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Burden of Respiratory Disorders
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1.2.2 Increasing Geriatric Population
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1.3 Market Restraints
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1.3.1 High Cost of Devices
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Value in USD)
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2.1 By Type
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2.1.1 By Diagnostic and Monitoring Devices
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2.1.1.1 Spirometers
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2.1.1.2 Sleep Test Devices
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2.1.1.3 Peak Flow Meters
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2.1.1.4 Pulse Oximeters
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2.1.1.5 Other Diagnostic and Monitoring Devices
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2.1.2 By Therapeutic Devices
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2.1.2.1 CPAP Devices
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2.1.2.2 BiPAP Devices
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2.1.2.3 Nebulizers
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2.1.2.4 Oxygen Concentrators
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2.1.2.5 Ventilators
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2.1.2.6 Inhalers
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2.1.2.7 Other Therapeutic Devices
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2.1.3 By Disposables
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2.1.3.1 Masks
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2.1.3.2 Breathing Circuits
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2.1.3.3 Other Disposables
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Chile Respiratory Devices Market Size 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.
