With a projected growth rate of 5.3% over the course of the forecast period, the worldwide hyperventilation management market trends is likely to surpass an outstanding valuation of US$ 7.1 billion in 2023 and reach US$ 11.9 billion by 2033. Obesity may result from youth’s increased access to and popularity of high-calorie foods. This in turn leads to a host of illnesses, including sleep difficulties. The market expansion of hypoventilation diagnostic equipment is primarily being driven by this important aspect. Early diagnosis of the issue can be facilitated by the use of sleep diagnostic tools. Thus, this is thought to be one of the main causes of the rise in the use of hypoventilation diagnostic tools.
Hypoventilation disorder diagnostic devices such as Positive Airway Pressure (PAP) devices have witnessed significant development in terms of design, efficacy, and safety has helped to boost the adoption of products and patient outcomes. Moreover, small PAP devices for individual use at home and the availability of cheaper brands are anticipated to fuel the growth of the hypoventilation devices market over the forecast period.
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Key players in the market are involved in improving the overall hypoventilation treatment paradigm by introducing medical devices, web-based applications, and other efforts to reduce the global burden of hypoventilation disease which is estimated to drive the market growth during the forecast period. For instance, in May 2019, Spire Health, a healthcare company launched a study to develop new digital biomarkers that can predict exacerbations and potential hospitalizations in patients with severe Chronic Obstructive Pulmonary Disease which is a type of hypoventilation disease.
Factors such as awareness initiatives by organizations, the growing prevalence of Chronic obstructive pulmonary disease, and product launches are propelling hypoventilation treatment market growth. For instance, in May 2019, Boehringer Ingelheim and Optimum Patient Care declared the creation of a new patient registry, APEX COPD, to better understand various types of hypoventilation disorders and how they can be typically treated in primary care offices. Such initiatives by market players are projected to boost market growth over the forecast period. Moreover, a pipeline for hypoventilation diseases and mainly COPD has several potential medications, which are anticipated to drive hypoventilation treatment market growth during the forecast period.
Key Takeaways:
- North America is expected to dominate the industry while reaching a market share of around 41% by end of the forecast period.
- The market in South Asia is projected to reflect a CAGR of 5.5% during the projected timeline.
- By disease type, chronic obstructive pulmonary disease is anticipated to account for maximum market share of 55% during the forecast period.
- Hospitals are projected to account for 71% market share by end-user, by end of 2033.
“Adoption of positive airway pressure devices and other product launches will bolster hypoventilation treatment market in the forecast period”- comments an FMI Analyst
Competitive Landscape:
The global Hypoventilation management market is highly competitive a due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition. The major players in the market are: Accord Healthcare Limited, Avet Pharmaceuticals Inc, Nostrum Laboratories Inc, Lannett Co Inc, Strides Pharma Science Limited, X Gen Pharmaceuticals Inc, ResMed, Koninklijke Philips NV, Hikma Pharmaceuticals, Lincare Holdings
Some recent developments in this industry are:
- In June 2022, Verona Pharma, a pharmaceutical company announced the completion of the patient enrolment, with more than 800 subjects involved for its randomized ENHANCE-1 trial. The study will evaluate ensifentrine for the maintenance treatment of chronic obstructive pulmonary disease, a type of hypoventilation disorder. It is a critical step for the phase III ENHANCE trial with top-line data expected by the end of the year 2022 and further data from ENHANCE-2 in the third quarter of 2022.
- In November 2021, AstraZeneca announced that it had sold rights to sell Tudorza, also known as Eklira abroad, and Duaklir to the Switzerland-based pharmaceutical company Covis Pharma Group for US$ 270 Mn. These products are indicated for the treatment of various types of hypoventilation disorders
- In May 2022, Alembic Pharmaceuticals Ltd, a pharmaceutical company, received final approval from the U.S. health regulator for its generic version of Arformoterol Tartrate inhalation solution indicated for long-term treatment of bronchoconstriction in patients with chronic obstructive pulmonary disease. The approval by the U.S. Food & Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Arformoterol Tartrate inhalation solution is for strength of 15 mcg (base)/2 mL unit-dose vial.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global hypoventilation management market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Hypoventilation management market, the market is segmented on the basis of disease type (Chronic obstructive pulmonary disease, Obesity hypoventilation syndrome, Central alveolar hypoventilation, Neuromuscular disorders) by treatment (Oxygen therapy, Non-invasive mechanical ventilation, Drug therapy) by end-users (Hospitals, Specialty clinics, Home care) by region (North America, Latin America, Europe, South-Asia, East-Asia, Oceania, Middle East, and Africa)
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Key Segments:
By Disease Type:
- Chronic Obstructive Pulmonary Disease
- Obesity Hypoventilation Syndrome (OHS)
- Central Alveolar Hypoventilation
- Neuromuscular Disorders
By Treatment Type:
- Oxygen Therapy
- Non-Invasive Mechanical Ventilation
- Drug Therapy
By End User:
- Hospitals
- Specialty clinics
- Home care
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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