The medical devices sector may be notoriously slow-moving and, at times, quite adverse to major change, but in the years leading up to 2021, a number of factors have boosted how readily the industry embraces new ideas, and due to the COVID pandemic this is particularly true for the respiratory device development.
During 2015-2020 the global respiratory device market exhibited strong growth (source: IMARC Group).
The increasing prevalence of respiratory diseases, such as Chronic obstructive pulmonary disease (COPD), TB, Asthma, and Sleep Apnea, is the key factor driving the growth of the market.
According to the World Health Organization, one million people die due to chronic obstructive pulmonary diseases caused by smoking among the 4.9 million people who die due to tobacco consumption and 65 million people suffer with moderate to severe COPD. As per its estimates, COPD is predicted to be the third leading cause of death worldwide and potentially fatal respiratory diseases. Tuberculosis, COPD, and lung cancer will account for about one in five deaths worldwide by 2030.
The increasing incidence of respiratory disorders can be traced back to the sedentary lifestyles and stressful routines, in confluence with the growing number of smokers, rate of alcohol consumption, vehicular smoke emissions and industrialization, which contributed to the rising incidences of lung cancer and other severe respiratory conditions.
Additionally, the rise in the number of elderly people coupled with growing incidences of preterm birth affect the respiratory devices market.
Furthermore, the rising demand for home care therapeutic devices because of their easy to use features and initiatives by the government extend profitable opportunities to the market players in the next few years and are projected to drive the market further.
If we look to 2020, it was a year which left a deep mark, like never before, on the respiratory market: Covid-19 asked for more and more Medical Device for respiratory treatment, provided new stimuli for innovative technologies and brought telemedicine to the next level.
Looking forward, Data Bridge Market Research analyses that the market is growing with a CAGR of 8.1% in the forecast period of 2021 to 2028 and is expected to reach USD 10.37 billion by 2028.
The respiratory devices market includes respiratory therapeutic devices (e.g. lung ventilators), Medical Device for respiratory diagnostics and monitoring (e.g. spirometers and wearable), consumables and accessories (mainly masks & breathing circuits).
Among the key trends of the Respiratory Devices Market, we can count:
- the rising med-tech research and development expenditure
- accelerating smart inhaler industry
- technological advancements in ventilators
- increasing use of AI to develop respiratory devices to treat Asthma and COPD
- Increasing presence in home care settings
- Growth from product innovations
A NEW DISRUPTING WEARABLE TO MONITOR AND TREAT RESPIRATORY DISEASES
Within Creanova’s clients, we can count several Med-Tech companies which are pursuing their mission to improve the life of those suffering from respiratory diseases improving their Respiratory device manufacturing.
For example, Airgo™ by MyAir Inc marks a step forward in continuous spirometry, sleep disorder screening and ICU respiratory pattern detection.
It is the 1st non-invasive respiratory device measuring every breath directly and assisting doctors in remotely monitoring, diagnosing and treating acute and chronic respiratory disorders.
Wearable, Homecare, Artificial Intelligence, Machine Learning: all main Healthcare trends are combined in a single product.
Because of its unique combination of reliable and complete data (validated by 45.000 hrs of clinical trials), prolonged monitoring, non-invasiveness, autonomy, remote access, cloud based analytics and diagnostic visualization tools, doctors both in Europe and USA recognized Airgo useful for COVID-19 patient monitoring.
Creanova took care of the miniaturization and product development of the wearable device. Our prototypes from vacuum casting were used to perform clinical trials and achieve the certification.
Our team supported MyAir with our Respiratory device contract manufacturing service, smoothly driving the client through mold making, parts and electronic boards production up to the fully assembled product. The assembly was performed in the Creanova’s Italian site (ISO 13845 certified).
This Med-Tech start-up found in Creanova the ideal partner for placing its innovative respiratory device on the market. Creanova supported MyAir from respiratory device development down to medical contract manufacturing.
Boasting several projects in the respiratory sector, Creanova can support you from design to development up to respiratory device contract manufacturing. Whether your new device is a spirometer, a lung ventilator or a wearable, our multi-disciplinary team has the skills and the experience to guide your medical project throughout the development process and into contract manufacturing.
Contact us if you’re looking for a reliable partner to bring your respiratory device on the market!