Market Trends of China Respiratory Devices Industry
This section covers the major market trends shaping the China Respiratory Devices Market according to our research experts:
The Pulse Oximeters Segment is Expected to Witness Growth Over the Forecast Period
Pulse oximetry is a noninvasive method for monitoring a person's oxygen saturation. This can be a useful tool in the management of chronic obstructive pulmonary disease (COPD) and other lung conditions such as asthma, emphysema, and bronchitis. Furthermore, it can also be used to assess shortness of breath, lung function before surgery, and the effect of medication. The pulse oximeter is used in the management of COPD, which is likely to be a promoting factor for market growth. For instance, as per the article published by the International Journal of Chronic Obstructive Pulmonary Disease, in September 2022, the prevalence of COPD in China was estimated as 13.7%, equating to approximately 99.9 million patients with COPD. Thus, with the increase in respiratory disease, the demand for pulse oximeters has increased, driving the growth of the market.
Additionally, the increasing initiatives, product launches, and strategies by the government and market players in China are also expected to contribute to the market's growth. For instance, in October 2022, GX Foundation launched a second phase of pulse oximeters distribution throughout the Hong Kong community. GX partnered with the Collaborating Centre for Oxford University and CUHK for Disaster and Medical Humanitarian Response (CCOUC) to distribute pulse oximeters to 20 organizations in total across the city. This enabled caregivers to provide home-based monitoring of elderly people and COVID-19 patients, strengthen the independence and effectiveness of home-based care, and alleviate the burden on hospitals during difficult times. Such an initiative is expected to drive the growth of the market over the forecast period.
The Oxygen Concentrators Segment is Expected to Witness Growth Over the Forecast Period
Oxygen concentrators are used to provide oxygen therapy to people that require greater oxygen concentrations than the levels of ambient air. The oxygen concentrators segment has been fuelled by recent technological advancements and increased respiratory diseases cases such as asthma, emphysema, bronchitis, and COPD in China. For instance, according to an article published by BioMed Central Ltd in April 2022, moderate-to-severe airflow obstruction, more symptoms, and a high risk of exacerbations are prevalent among patients diagnosed with COPD in China. Thus, with an increase in COPD cases, the need for oxygen concentrator increases, driving the growth of the market.
Governments and key players are manufacturing and launching marks, which is expected to drive the segment. For instance, in March 2022, Belluscura signed a three-year manufacturing agreement for its X-PLO2r portable oxygen concentrator with InnoMax Medical Technology in China. Such development is expected to drive the growth of the market in China over the forecast period.
