This study highlights emerging companies in the respiratory care industry. Most respiratory care companies focus on device connectivity and developing smart devices that can assist in better management of chronic respiratory diseases and reduce healthcare costs. The COVID-19 pandemic increased the focus on the benefits of remote care. Respiratory solutions that offer remote care will continue to grow due to their cost-saving benefits. With increasing device connectivity and digital technology integration, a lot of patient data is being generated. Gradually, companies are focusing on monetizing patient data to obtain valuable patient insights and generate alternative revenue streams.
In terms of geographic scope, the study covers the global industry. The base year is 2023, and the forecast runs through 2028. The study examines growth drivers and restraints for the forecast period; it also evaluates key growth opportunities and offers actionable insights for industry participants to leverage these opportunities.
The Impact of the Top 3 Strategic Imperatives on Emerging Companies in the Respiratory Care Industry
Disruptive Technologies
WHY: The implementation of disruptive technologies, such as artificial intelligence (AI) and device connectivity, is increasing the adoption of respiratory care devices. These solutions enable proactive respiratory care by offering several benefits, including therapy adherence, reminders, patient engagement, and continuous monitoring.
Frost Perspective: Companies in the respiratory care industry will continue to invest in new disruptive technologies to develop digital, connected, and smart respiratory solutions to drive product adoption, patient education, and disease management and generate valuable patient data.
Transformative Megatrends
WHY: Rising healthcare costs, the shortage of healthcare workers, and the COVID-19 pandemic have fueled the demand for out-of-hospital care and home care. In addition, the development of technologies that support remote care is driving home care adoption.
Frost Perspective: Remote monitoring devices, wearables, connected medical devices, telehealth platforms, and chronic respiratory disease management platforms will support the continued shift to out-of-hospital care from 2024 to 2028.
Innovative Business Models
WHY: The implementation of connected and smart devices will generate a lot of patient data that can be leveraged to enhance existing solutions and provide more personalized and proactive patient care.
Frost Perspective: Apart from the sale of devices and accessories, companies will start looking at different business models, including software-as-a-service (SaaS), data fees, pay-per-use, and value-based incremental pricing models. The focus on data monetization will increase during the forecast period.
Scope of Analysis
- This study provides a strategic overview of emerging respiratory care companies.
- It offers an overview of unconventional participants' product portfolios, growth strategies, product planning, platform development, and positioning.
- The study examines emerging respiratory care solution providers’ go-to-market strategies and their activities and relationships in the respiratory care industry.
- The study investigates respiratory care firms’ synergies and aims to comprehend their perspective of the overall healthcare industry.
Growth Drivers
- Growing Number of People Suffering from Respiratory Conditions The number of people suffering from respiratory conditions, such as sleep apnea, asthma, and COPD, is growing. In addition, increasing awareness of respiratory conditions due to initiatives undertaken by public and private organizations is increasing diagnosis and treatment rates.
- Technological Advancements AI integration and the development of smart and connected devices, wearables, mobile apps, and disease management platforms are supporting the adoption of respiratory care devices by increasing patient therapy adherence, boosting patient engagement, and improving disease management.
- Out-of-hospital Care Demand for respiratory solutions from ambulatory care and home care settings is growing due to the rising care costs and work pressure on staff in traditional healthcare settings, such as hospitals.
Growth Restraints
| Restraint |
|---|
| Stringent Government Regulations and Product Recalls Several product recalls due to health hazards are limiting patient access to life-saving therapies and hindering industry growth. For example, Phillip Healthcare has recalled ventilators and BiPAP and CPAP devices, while ResMed has recalled BiPAP and CPAP masks and Draeger has recalled ventilators. |
| Large Undiagnosed Population The large number of undiagnosed sleep apnea, asthma, and COPD patients, especially in low- and middle-income countries, hinders device adoption. |
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on Emerging Companies in the Respiratory Care Industry
Growth Opportunities Fuel the Growth Pipeline Engine™
Scope of Analysis
Key Takeaways
Key Takeaways (continued)
Growth Drivers
Growth Restraints
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Company Overview
Value Proposition
Growth Strategy
Growth Opportunity 1: Artificial Intelligence
Growth Opportunity 1: Artificial Intelligence (continued)
Growth Opportunity 2: Data Monetization
Growth Opportunity 2: Data Monetization (continued)
Growth Opportunity 3: Personalized and Proactive Care
Growth Opportunity 3: Personalized and Proactive Care (continued)
List of Exhibits
Legal Disclaimer
List of Figures- Emerging Respiratory Care Companies: Growth Drivers, Global, 2024–2030
- Emerging Respiratory Care Companies: Growth Restraints, Global, 2024–2030
Speak directly with our analytics experts for tailored recommendations.
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Market Research |
|---|---|
| Author | Utkarsha soundankar |
| Industries | Healthcare |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Respiratory Care Market |
| Keyword 2 | Respiratory Care Companies Growth |
| Keyword 3 | Respiratory Care Companies Profiles |
| List of Charts and Figures | Emerging Respiratory Care Companies: Growth Drivers, Global, 2024–2030~ Emerging Respiratory Care Companies: Growth Restraints, Global, 2024–2030~ |
| Podcast | No |
| WIP Number | KA4C-01-00-00-00 |
Emerging Respiratory Care Companies: Strategic Profiles and Growth Opportunities
Digital Respiratory Solutions will Drive the Respiratory Care Industry in its Next Growth Phase
17-May-2024
Global
Market Research