Market Trends of Non-invasive Ventilators Industry
This section covers the major market trends shaping the Non-invasive Ventilators Market according to our research experts:
COPD and Asthma is Expected to Witness Significant Growth During the Forecast Period
COPD is a progressive life-threatening lung disease that causes breathlessness (initially with exertion) and predisposes to exacerbations. Moreover, serious illness may lead to an increasing need for emergency treatment for prolonged periods. In addition, asthma is one of the most common but complex heterogeneous inflammatory airway disorders seen among the target population. Thus, due to a high number of respiratory emergencies such as asthma and COPD, the application of NIV is expected to increase, thereby accelerating segmental growth.
According to an article published in the American Journal of Respiratory and Critical Care Medicine in September 2022, nearly 1 in 10 people are affected by COPD every year globally. In addition, as per the data published by the Global Initiative for Chronic Obstructive Lung Disease on World Lung Day 2022, nearly an estimated 200 million people had COPD in the previous year, and asthma is one of the most common respiratory diseases which affects approximately 262 million people annually. Various research suggests that NIV has more positive benefits for populations with asthma and COPD. Thus, the high burden of diseases is anticipated to create demand for the adoption of NIV and fuel the segment growth.
Additionally, according to an article published in the American Journal of Translational Research (AJTR) in May 2022, ipratropium bromide combined with non-invasive ventilation is effective in the treatment of patients with COPD and respiratory failure. The systems can significantly ameliorate circulatory inflammation and improve the pulmonary function and blood gas levels of patients and provide higher treatment efficacy. Thus, these benefits of the systems are anticipated to fuel the segment growth over the forecast period. Therefore, the advantages of the systems and applications in treating COPD patients are anticipated to create competitiveness among the players and contribute to the segment's growth.
North America is Expected to Hold a Significant Share of the Market Over the Forecast Period
North America is expected to hold a major share of the market, and it is predicted to continue its growth over the forecast period. The major factors fuelling the market growth in the region are the increasing prevalence of various respiratory diseases and the growing number of product approvals.
Respiratory disease is one of the major causes of healthcare burden in the region, and asthma is one of the major diseases that affect the quality of life for most Americans. According to the January 2023 update by the American College of Allergy, Asthma & Immunology (ACAAI) organization, the annual hospitalization related to asthma is 439,000, and asthma accounts for nearly 1.3 million emergency room visits annually in the United States. In addition, as per the source above, the economic cost related to asthma is USD 56,000 million annually in the country.
Additionally, as per the January 2023 update by the Lung Canada organization, the rate of prevalence and incidence of asthma is among the highest in Canada, and about 2.7 million Canadians live with asthma every year. Also, as per the source above, asthma is the third crucial factor related to work time lost and school absenteeism coupled with hospitalization for children. The high prevalence of the diseases is anticipated to increase demand for NIV, thereby driving market growth in the region.
