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