Respiratory Monitoring Devices market Outlook for Major Applications/end Users, Consumption, Share and Growth Rate 2027

Respiratory Monitoring Devices Market: Introduction

•Respiratory monitoring plays a significant role in the management of patients with respiratory diseases, such as acute respiratory failure, chronic obstructive pulmonary disease (COPD), and asthma, among other diseases. There are a number of technologically advanced respiratory monitoring devices available in the market for personal use, intensive care, and inpatient settings.

•Increase in the prevalence of respiratory diseases, such as asthma, cystic fibrosis, and COPD, and rising geriatric population are major factors that are anticipated to drive the global respiratory monitoring devices market during the forecast period

•According to the World Health Organization, the global geriatric population was approximately 524 million in- and is anticipated to reach 1.5 billion by 2050. Moreover, world population is aging at a rapid pace, especially people in developed nations such as the U.S., Germany, and Japan.

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•North America held a leading share of the global respiratory monitoring devices market in 2018 due to the increase in the number of asthma cases and favorable medical schemes and reimbursement policies

•According to the Behavioral Risk Factor Surveillance System (BRFSS) survey, in 2017, nearly 22.9 million adults in the U.S. had asthma and around 16.3 million adults were diagnosed with COPD. The survey also stated that nearly 33.2 million adults had chronic lung diseases.

•The respiratory monitoring devices market in Asia Pacific is expected to expand at a high CAGR of ~7% from 2019 to 2027 due to the growing healthcare expenditure, increasing prevalence of respiratory disorders, and improving healthcare infrastructure
Rise in Prevalence Rate of Respiratory Diseases to Drive Respiratory Monitoring Devices Market

•Rise in prevalence rate of respiratory diseases worldwide is projected to drive the global respiratory monitoring devices market during the forecast period

•Approximately 50% of Latin American countries reported that around 15% of the population suffered from childhood asthma, revealed by Forno and Colleagues in the journal Thorax published in December 2016

•According to the WHO, in 2015, globally, there were 100 million people affected with chronic respiratory diseases with sleep apnea being the most common problem

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Increase in Use of Pulse Oximeters in Clinics and Laboratories

•In terms of product, the global respiratory monitoring devices market has been segmented into pulse oximeters, capnographs, spirometers, polysomnographs (PSG), peak flow meters, gas analyzers, and others. The pulse oximeter segment accounted for a major market share in 2018.

•Technological advancements related to respiratory monitoring equipment and high utilization of pulse oximeters in clinics and laboratories are various factors that are likely to drive the pulse oximeters segment during the forecast period

•Rise in demand for non-invasive respiratory monitors is expected to accelerate the growth of the global respiratory monitoring devices market

•In November 2015, Montefiore Medical Center developed a non-invasive pulseless oximeter, which measures arterial oxygenation in patients with weak pulse

Hospitals to be Major End User of Respiratory Monitoring Devices

•Based on end user, the global respiratory monitoring devices market has been categorized into home care, hospitals, ambulatory surgical centers, and specialty clinics

•The home care segment is likely to gain significant market share by 2027. Growth of this segment can be attributed to the increase in the adoption of respiratory monitoring devices for home use, rise in the number of market players launching portable devices, and growing demand for home use spirometers and peak flow meters.

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