Canada’s Respiratory Devices market size stood at around USD XX.X billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of around 8.73% during the forecast period.
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.
The increasing prevalence of respiratory disorders, such as COPD, TB, Asthma, technological advancements, and large patient population, growing funding from the government for the health sector are major market drivers for Canada’s respiratory devices market. Also, as per the Asthma.Ca 2019 report, 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. Thus, the presence of such a large number of diseases will demand respiratory devices and drive the market in Canada. Furthermore, increasing R&D expenditure by innovators and generic players, technological advancements associated with respiratory devices, and the rising aging population will also fuel the Canadian respiratory devices market.