Canada Respiratory Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canada Respiratory Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Canadian respiratory devices market was anticipated to record a CAGR of 8.73%, during the forecast period. The major factors attributing to the growth of the Canadian respiratory devices market are the rise in the number of chronic obstructive pulmonary disease patients (COPD), TB, asthma, and pneumonia cases. Chronic respiratory diseases are chronic diseases that affect the airways and other parts of the lungs. In Canada, COPD is the fourth most frequent cause of male hospitalization and the sixth most frequent cause of female hospitalization. Roughly 500,000 people over the age of 35 were recently identified with COPD and it is believed that roughly an equal number of middle-aged Canadians may have COPD as well. As per the Asthma.Ca 2019, it was reported that more than 3.8 million people in Canada are currently suffering from asthma, with around 850,000 of them being children under 14. The other factors helping the growth of the respiratory devices market are the increasing technological advancements in the country and the growing funding from the government for the health sector, which may also fuel the market growth during the forecast period.

Key Market TrendsSleep Test Devices Segment is Expected to have the Fastest Growth in the Canadian Respiratory Devices Market

Due to the rising development of portable devices, such as CleveMed's SleepView [home sleep monitor], which incorporates multiple tests (oximetry, location, and cardiovascular and respiratory studies), home sleep monitoring is anticipated to experience exponential growth. In fact, some of the sleep monitoring instruments can be leased, contributing to the growth of the market. These factors are expected to contribute to the growth of the market during the forecast period.

Competitive Landscape

The Canadian respiratory devices market is competitive and consists of several players. In terms of market share, few of the major players are currently dominating the market and some prominent players are vigorously making acquisitions and joint ventures with the other companies to consolidate their market positions in the country. Some of the companies that are currently dominating the market are Bayer AG, Pfizer Inc., Merck & Co. Inc., CooperSurgical, Inc., and Allergan PLC.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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