Diaphragm Pacing Therapy System Market Key Players, Industry Share, Growth, And Forecast To 2028

The global diaphragm pacing therapy system market size was valued at USD 7.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2028.

The global Diaphragm Pacing Therapy System Market size is expected to reach USD 11.5 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.6% from 2021 to 2028. Some of the factors contributing to the market growth are the upsurge in the prevalence of breathing disorders including sleep apnea, the rise in spinal cord injuries, and amyotrophic lateral sclerosis.

The attributes such as facilitating normal breathing and better speech patterns, movement convenience, ease at eating and drinking, improved sense of smell, and silent functioning of a breathing pacemaker are boosting the adoption of the therapy systems. Moreover, it reduces the dependence on mechanical ventilators and the risk of upper airway infections such as ventilator-associated pneumonia.

The Covid-19 pandemic has further increased the demand for ventilation requirements to cater to the infected patients requiring respiratory care. In April 2020, the diaphragm pacing therapy system by Lungpacer Medical, Inc. received the FDA Emergency Use Authorization (EUA) approval to assist the weaning COVID patients.

Related Press Release@ Diaphragm Pacing Therapy System Market Report

Diaphragm Pacing Therapy System Market Report Highlights

• The external diaphragm pacemaker segment dominated the market in 2020 owing to the rise in treatment of conditions such as cervical spinal cord injury and congenital central hypoventilation syndrome
• The spinal cord injury segment dominated the market in 2020 in terms of revenue share due to the growing number of spinal cord injuries annually worldwide due to higher rate of accidents, falls, and injuries during sports/recreation activities
• In 2020, North America dominated the market in terms of revenue share. This is due to the growing prevalence of breathing disorders, spinal cord injuries, and amyotrophic lateral sclerosis. Moreover, the increasing consumer disposable income and healthcare expenditure are further expected to support market growth in the region
• In Asia Pacific, the market is expected to witness the fastest CAGR over the forecast period due to the favorable government initiatives, and rising healthcare expenditure