Sweden Respiratory Devices Market

The Sweden respiratory devices market size was USD XX Bn in 2022 and is likely to reach USD XX Bn by 2031, expanding at a CAGR of 6.5% during 2023–2031. Growth of the market is attributed to the increasing funding from government and private organization, rising prevalence of smokers, increasing technological advancement, and growing geriatric population.

The respiratory devices supply respiratory air automatically to people with reduced respiratory concern. The respiratory gas is usually enhanced by oxygen and delivered inside the lung with a certain pressure created in the device. The ventilator fully affects pressures and volumes. While in aided respiration the respiratory device simply provides the mechanical breathing attempts with an established overpressure.

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The Covid-19 pandemic affected the demand and supply of Sweden respiratory devices market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Sweden Respiratory Devices Market Trends, Drivers, Restraints, and Opportunities

• Increasing investments by hospitals is projected to boost the market in the coming years.

• Introduction of technologically advanced products is the major factor fueling the market.

• Emerging economies and lack of health infrastructure is anticipated to restrict the market growth.

• Lack of awareness about respiratory devices present in the market act as a main challenge that can hamper the market during the forecast period.

• R&D investment and technological advancement in respiratory devices is projected to offer lucrative opportunities for the market players.

Scope of Sweden Respiratory Devices Market Report

The report on the Sweden respiratory devices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Sweden Respiratory Devices Market Segment Insights

The therapeutic devices and disposables segment is expected to grow at a rapid pace

Based on types, the Sweden respiratory devices market is bifurcated into diagnostic & monitoring spirometers devices and therapeutic devices & disposables. The diagnostic and monitoring spirometers devices segment is further sub-segmented into sleep test devices and other therapeutic devices. The therapeutic devices and disposables segment is sub-segmented into inhalers, nebulizers, CPAP devices, humidifiers, ventilators, and other therapeutic devices. The therapeutic devices and disposables segment accounts for a key share of the market. Growth of the market is attributed to technological upgradation in healthcare sector and rising demand for cutting-edge technologies. However, the diagnostic and monitoring spirometers devices segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing per capita income, rising demand for respiratory devices in private hospitals, and increasing availability of trained professionals.

The hospitals segment accounts for significant share of the market

On the basis of end-users, the Sweden respiratory devices market is fragmented into home care, hospitals, and ambulatory care centres. The hospital segment accounts for a significant share of the market. Growth of the market is attributed to increasing prevalence of respiratory disorders and rapid advancement in respiratory devices. The ambulatory care centres segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing demand for inhalers and rapid urbanization.

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Market outlook

The Sweden respiratory devices market is anticipated to expand at a high CAGR  during the forecast period due to increase in demand for respiratory care devices and rising awareness about health. Growth of the market is attributed to introduction of technologically advanced product and increasing incidence of pre-term births.

Rapid development in the health sector and increasing number of respiratory disease due to changing life style among people is the major factor fueling the market during the forecast period.

Segments

The Sweden respiratory devices market has been segmented on the basis of

Types

• Diagnostic and Monitoring Spirometers Devices
  • Sleep Test Devices
  • Other Therapeutic Devices
• Therapeutic Devices and Disposables
  • Inhalers
  • Nebulizers
  • CPAP Devices
  • Humidifiers
  • Ventilators
  • Other Therapeutic Devices

End-users

• Home Care
• Hospitals
• Ambulatory Care Centers

Geography

• Sweden

Key Players

• Smiths Medical, Inc.
• Koninklijke Philips NV
• GlaxoSmithKline plc
• Fosun Pharmaceutical
• Dragerwerk AG
• GE Healthcare
• Fisher & Paykel Healthcare Corporation Limited
• Invacare Corporation
• Medtronic PLC

Competitive Landscape

Key players competing in the Sweden respiratory devices market include Smiths Medical, Inc., Koninklijke Philips NV, GlaxoSmithKline plc, Fosun Pharmaceutical, Dragerwerk AG, GE Healthcare, Fisher & Paykel Healthcare Corporation Limited, Invacare Corporation, and Medtronic PLC.

Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.