Market Trends of Italy Respiratory Devices Industry
This section covers the major market trends shaping the Italy Respiratory Devices Market according to our research experts:
Ventilators as Therapeutic Devices Expected to Register Significant Growth
A ventilator is a piece of medical technology that offers mechanical ventilation by transferring breathable air in and out of the lungs to deliver breaths to a patient who is physically unable or insufficiently breathing. The segment is driven by the increasing prevalence of respiratory diseases and strategic activities by market players. According to updates in 2022 by World Data Atlas, in 2020, the incidence of tuberculosis in Italy was 6.6 cases per 100,000 people. Thus, with the growing incidence of respiratory diseases, the demand for ventilators is expected to rise in the country, thereby boosting segment growth.
Strategic activities by market players, such as product launches, mergers, and acquisitions, collaboration, and partnerships, are likely to support the growth of the market. For instance, in March 2020, the Swedish medical equipment group Getinge GETIb.ST delivered 500 ventilators to Italy, which was hit the hardest by the pandemic, and tendered 5,000 ventilators and other desperately needed medical equipment. In March 2020, Italian 3D printing start-up ISINNOVA saved the lives of ten Covid-19 patients after developing a replacement ventilator valve, when supplies at Chiari hospital in Brescia ran dry. In April 2020, Mechanical Ventilator Milano, or MVM, collaboration based in Italy created a safe and reliable ventilator for COVID-19 patients, built from widely available parts. Such technological advancement and strategic initiatives by market players are likely to support the expansion of the segment over the forecast period.
Thus, the above-mentioned factors are expected to boost the growth of the ventilators segment in the country over the forecast period.
Inhalers is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
An inhaler is a device that delivers medication straight to the lungs. A device for administering medications as a spray that is inhaled (breathed in) through the nose or the mouth. Major factors attributing to the growth of the digital dose inhaler market include the rising prevalence of chronic respiratory diseases and the growing demand for technology-enabled features of inhaler devices.
The burden of respiratory diseases, such as asthma, COPD, tuberculosis, lung cancers, and others, is growing. According to a study published in the International Journal of Environmental Research and Public Health in March 2022, the incidence of idiopathic pulmonary fibrosis in Italy was 9.8 instances per 100,000 person-years. A significant annual increase of 6% was recorded. Males had a much greater incidence rate than females and older populations with poor health outcomes. Thus, the rising prevalence of respiratory disorders drives the demand for effective treatment options, enhancing the growth of the inhaler segment.
Additionally, strategic activities by market players are expected to support market expansion over the forecast period. For instance, in March 2022, Kither Biotech, a biopharmaceutical business based in Turin, Italy, that is exploring innovative medicines for rare respiratory disorders, raised EUR 18.5 million (USD 19.53 million) in Series B funding. This funding is expected to be used for bringing technologically advanced respiratory products into the market, thereby boosting the market growth.
