The market for acute respiratory distress syndrome (ARDS) devices is anticipated to expand at a CAGR of 7.5% during the forecast period of 2024 and 2032. Acute respiratory distress syndrome (ARDS) is a severe lung condition that can be caused by sepsis, pneumonia, and trauma, among others. It is characterized by inflammation and fluid accumulation in the lungs, which can cause difficulty breathing and low blood oxygen levels. If not treated immediately and effectively, ARDS can be fatal. Various devices and equipment are utilized for the treatment of ARDS, including mechanical ventilators, oxygen therapy devices, and extracorporeal membrane oxygenation (ECMO) systems. Intensive care units (ICUs) and emergency departments typically employ ARDS monitoring equipment.
Increased incidence of acute respiratory distress syndrome is expected to drive market growth for acute respiratory distress syndrome devices. The accumulation of fluid in the air sacs of the lungs characterizes ARDS, a severe lung condition. The elderly are at high risk for developing this condition. Consequently, it is anticipated that the aging population will stimulate market expansion over the forecast period. Investments in the R&D of new devices are anticipated to generate lucrative growth opportunities for industry vendors. In the near future, however, high costs and a shortage of trained personnel are likely to prevent the widespread adoption of ARDS devices. To increase their acute respiratory distress syndrome device market share, suppliers are introducing more cost-efficient products.
In the coming years, the demand for ARDS devices is anticipated to rise due to an aging population and an increase in chronic disease incidence. ARDS and other chronic diseases are more prevalent among those over the age of 60. The United Nations projects that by 2050, the global population aged 60 and older will have increased by more than twofold. Numerous chronic diseases, such as obesity, diabetes, and cardiovascular disease, are prevalent in the elderly population. In addition, their immune systems are likely compromised, making them more prone to infections such as pneumonia. According to the World Health Organization (WHO), ARDS affects approximately 150 million people annually worldwide. In the near future, it is anticipated that the high prevalence of ARDS will contribute to the growth of the acute respiratory distress syndrome devices market.
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Major acute respiratory distress syndrome device manufacturers invest heavily in research and development for new products. Advanced ARDS devices have the potential to improve patient outcomes, shorten hospital stays, and reduce healthcare costs. Hamilton Medical introduced the Hamilton-T1 ventilator with High-Frequency Oscillation Ventilation (HFOV) technology in June 2020 to provide advanced ventilation support for critically ill patients. High-frequency oscillatory ventilation (HFOV) is a type of mechanical ventilation characterized by rapid, small tidal volume, and high-frequency breaths. This improves patient outcomes by reducing lung damage. Consequently, it is anticipated that the development and introduction of new devices will increase the market trajectory for acute respiratory distress syndrome devices in the coming years.
In accordance with the most recent market trends for acute respiratory distress syndrome devices, the diagnostic & monitoring devices segment is anticipated to hold the largest market share over the forecast period. Diagnostic and monitoring devices are employed for the treatment and management of ARDS. The prevalence of ARDS is likely to increase demand for these devices in the near future. Diagnostic and monitoring equipment measures oxygen saturation levels, lung function, as well as other vital signs. This enables the medical staff to initiate prompt and effective treatment. Early detection and treatment of ARDS can improve patient outcomes and reduce hospital stays.
Hospitals/clinics are well-equipped with advanced technological equipment for surgical procedures and improved treatments, and the hospital segment is experiencing rapid growth due to the growing number of hospital admissions with ARDS, the increasing number of patient pools, and the launch of new products by market players, which are expected to continue over the forecast period, thus driving the segment's growth. It is anticipated that the growing number of private hospitals will also contribute to market expansion. According to the American Hospital Association Statistics 2023, published in January 2023, the number of non-profit community hospitals in the United States increased from 2,946 in 2021 to 2,960 in 2023. As the number of beds available to treat ARDS patients increases, a growing number of hospitals will support the segment's growth over the forecast period.
Increasing hospital admissions and intensive care unit admissions generate demand for ARDS treatment, driving the market growth. A study titled "Acute respiratory distress syndrome readmissions: A nationwide cross-sectional analysis of epidemiology and costs of care" was published in the PLOS One Journal in January 2023. It found that 18.4% of patients with acute respiratory distress syndrome were readmitted to the hospital. Moreover, according to data published by the Australian Institute of Health and Welfare in May 2023, there will be approximately 11,8 million hospital admissions in 2020-21, a 6.3% increase over 2019-20. In addition, 7.0% of the 11.8 million admissions involved a stay in the Intensive Care Unit (ICU), 3.8% involved respiratory disease, and 10.3% had a separation mode indicating the patient died in the hospital. This rise in emergency admissions to critical care creates a demand for ARDS treatment, which is expected to drive the expansion of this market segment. Due to the aforementioned factors, it is anticipated that the segment will exhibit a healthy growth rate over the forecasted period.
In 2023, North America held the largest market share for acute respiratory distress syndrome devices. Increased incidence of ARDS and other respiratory disorders, rising healthcare costs, and the presence of key market participants are likely to stimulate market growth in the near future. North America dominated the global ARDS treatment market due to the presence of major market players, an increase in product approvals, a developed healthcare system, and a high prevalence of acute respiratory distress syndrome.
According to a study titled "Acute Respiratory Distress Syndrome" published in February 2023 by the National Library of Medicine, the incidence of ARDS in the United States ranges from 64,2 to 78.9 cases per 100,000 people per year. 25% of initial ARDS case assessments are classified as mild, while 75% are classified as moderate or severe. One-third of mild cases, however, progress to moderate or severe illnesses. As a result, the rising incidence of acute respiratory distress syndrome in the United States will support market growth during the forecast period. The adoption of various organic and inorganic strategies by market leaders is anticipated to hasten market expansion. In December 2020, for example, the Food and Drug Administration (FDA) designated Remestemcel-L for the treatment of acute respiratory distress syndrome (ARDS) caused by coronavirus disease as Fast Track (COVID-19). In addition, in September 2020, Athersys announced that the United States Food and Drug Administration had granted the Regenerative Medicine Advanced Therapy (RMAT) designation to MultiStem cell therapy for the acute respiratory distress syndrome (ARDS) program.
During the forecast period, the industry in the Asia-Pacific market is anticipated to grow significantly. Regional market statistics are anticipated to increase due to the high prevalence of respiratory disorders, the increase in the geriatric population, and the growing awareness of advanced ARDS devices.
The acute respiratory distress syndrome market is highly competitive and dominated by a handful of major players. Faron Pharmaceuticals, BioMarck Pharmaceuticals, GE Healthcare, and Hamilton Company, among others, dominate the market for acute respiratory distress syndrome. Koninklijke Philips N.V., Medtronic, Fisher & Paykel Healthcare Limited, Dragerwerk AG & Co. KGaA, Smiths Medical (ICU Medical), ResMed, and Getinge AB are also important companies. Businesses are employing a range of organic and inorganic strategies to increase their regional presence. In January 2021, Fisher & Paykel Healthcare Limited debuted its new Optiflow+ nasal high-flow therapy system, which is designed to aid patients with ARDS and other respiratory conditions.
