Brazil Therapeutic Respiratory Devices Market Growth & Trends
The Brazil therapeutic respiratory devices market size is expected to reach USD 502.71 million in 2030 and is expected to grow at a CAGR of 6.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. Growing geriatric population, and increasing prevalence of respiratory diseases are the key factors that are driving the growth. Moreover, the market is expected to grow owing to rapid technological advancements in the healthcare sector. Furthermore, respiratory monitoring devices use software applications for the collection and analysis of data from ventilators equipped with the health system.
The availability of ventilators during the COVID-19 pandemic has significantly improved operational capabilities. Organizations like the American Association for Respiratory Care collaborated to train respiratory therapists in ventilator operation, thereby boosting market players to increase production capacity. For example, Royal Philips aimed to double hospital ventilator production by May 2020 and achieve a four-fold growth by Q3 2020.
The growing prevalence of respiratory diseases is a major growth driver for this market. According to the World Health Organization (WHO), COPD caused 3.23 million deaths in 2019, making it the third leading cause of death globally. Additionally, WHO projects that by 2030, lung cancer, tuberculosis, COPD, and pneumonia will account for approximately one in five deaths worldwide, up from one-sixth of all deaths in 2008.
The market is expected to witness intense competition due to the influx of numerous startups seeking opportunities in this sector. For instance, Magnamed, a startup based in São Paulo, announced in April 2020 that it would collaborate with leading Brazilian and multinational corporations to produce 6,500 ventilators by August 2020. This initiative, supported by FAPESP, addresses the urgent need for respiratory devices in treating COVID-19 patients. The growing support for such startup initiatives is anticipated to foster competition within the market, driving innovation and advancements in respiratory care.
Brazil Therapeutic Respiratory Devices Market Report Highlights
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