COPD – Chronic obstructive pulmonary disease is expected to increase from almost 270,000 in 2005 to 338,000 deaths by 2030. Often COPD is under diagnosed, inferring that the prevalence rates are only going to increase. Recently, Infiniti Research performed a market assessment on COPD and Non-Invasive Ventilation (NIV) treatment for the European market, and here are some insights from our market assessment for medical device manufacturers specializing in NIV to help them develop effective market entry strategies.
NIV to Witness Robust Growth
A recent market assessment study shows that COPD is the major cause of death, whose prevalence is on the rise and is envisaged to be the third leading cause of death globally by 2030. Furthermore, patients getting affected are on the aging side; as a result of which, physicians prefer non-invasive techniques over the invasive ones. The recent rise in chronic respiratory diseases has increased the demand for the right medical device supplies. Since the market witnesses a surge in the popularity of ventilators our industry experts feel that this would be the right time for the medical device manufacturers to take a plunge in this industry. Other than COPD, NIV has also been successfully used in patients with acute respiratory distress syndrome (ARDS) and postoperative and post-transplantation respiratory failure, reducing intubation rates, ICU stays, and the overall mortality rate.
Recent Developments and Opportunities
The advantages that NIV treatment offers is tremendous. One of the key areas for the vendors in Europe to target is the private sector. With medical device reimbursement getting strict, NIV has the edge over the other treatments and the reimbursement guidelines look promising. This trend is catching up and is sure to prevail in the UK as well. Our market assessment was focused at countries such as the UK, France, Italy, Germany, Spain, Sweden, Norway, Switzerland, Denmark, Portugal, and Finland. A research on first-line NIV treatment was associated with a decrease in 60-day mortality rate from 27 to 9% throughout the study period. The incidence of increasing chronic respiratory diseases and NIV treatment reducing the mortality rate shows the perfect balance in the medical device industry.
The Futuristic View of NIV Treatment
Other than the private sector, if you’re an NIV treatment vendor, home care ventilation is another booming sector to watch out for. Most of the patients suffering from COPD are suggested home ventilation by the physicians, thus, leading to the reduction in the length of stays in hospitals. Tapping the home care market will ensure high returns when it comes to home care ventilation. Not just that, with the high risk associated with hospital-acquired infections, home care ventilators are a great choice to stay safe and healthy.
How We Help in Smarter Decision Making
Being the preferred partner for more than 55 Fortune 500 firms, we can help any leading global respiratory device manufacturer make the right decision about exploring the untapped sectors. In a recent market assessment engagement, we helped a global pharmaceutical conglomerate evaluate the prevalence and magnitude of COPD and global initiative for chronic obstructive lung disease (GOLD) across 10 European countries. During the course of this research, it was found that with the growing rate of COPD, sleep apnoea, and other respiratory disease, the usage of NIV treatment in both hospitals and home care segment is sure to go sky high.
Here is a successful market assessment case study on how we helped a leading global respiratory health products manufacturer make the right decision when it comes to market entry. You can read the complete case study here!