The Australian Respiratory Devices market size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Two major chronic respiratory diseases in Australia are chronic obstructive pulmonary disease (COPD) and asthma. With about 5,400 deaths attributed to it in 2003, COPD is a major cause of death in Australia. The rise in the prevalence of uncertain Respiratory diseases such as COVID-19 made a pavement for the requirement of respiratory ventilators. Hence these acts as a fuelling agent for the growth of the Respiratory Devices market in Australia during the forecasted period.
The increasing prevalence of respiratory disorders such as chronic obstructive pulmonary disease patients (COPD), TB, asthma, etc. remains the major driver of the industry. Chronic respiratory diseases are chronic diseases that affect the airways and other parts of the lungs. Respiratory symptoms are among the major causes of consultation with doctors and physicians in primary health care centers. Some of the major preventable chronic respiratory disorders are asthma, chronic obstructive pulmonary disease (COPD), allergic rhinitis, sleep apnea, and tuberculosis (principally, multi-drug resistant tuberculosis). According to the Australian Bureau of Statistics, around 2.7 million Australians (one in nine or 11.2% of the total population) had asthma in 2017-18. Thus, owing to these factors, the demand for respiratory devices is expected to grow substantially, over the forecast period.