Market Trends of Chile Respiratory Devices Industry
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.
