Germany’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 6.5% during the forecast period.
As per the National Institute of Health Research 2019, the prevalence of Chronic obstructive pulmonary disease (COPD) in Germany is around 2.7 million. In addition, according to the Global Health Data Exchange, in 2017 approximately 575,558 people are affected by COPD in Germany. Thus, the presence of such a large number will demand respiratory devices and drive the market in Germany. Moreover, the incidence of Asthma population has been increased in past years. As per the Global Health Data Exchange in 2016 the number of new cases reported in Germany was 202,652.32 which further increased to 202,839.14 in 2017 and this is expected to rise in the future.
The increasing prevalence of respiratory disorders, such as COPD, TB, Asthma, and Sleep Apnea, technological advancements, and large patient population are major market drivers for the German respiratory devices market.
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 German respiratory devices market. However, high costs associated with the devices may hamper the market to a certain extent.