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Global Respiratory Monitoring Devices Market Comprehensive Study: Forecasted Market Size And Growth Rate
Global Respiratory Monitoring Devices Market
The Business Research Company offers in-depth market insights through Respiratory Monitoring Devices Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The respiratory monitoring devices market size has grown rapidly in recent years. It will grow from $1.5 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to respiratory diseases, aging population, technological advancements, hospital and homecare settings.
The respiratory monitoring devices market size is expected to see strong growth in the next few years. It will grow to $2.39 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to respiratory health awareness, chronic diseases, remote patient monitoring, wearable technology. Major trends in the forecast period include remote monitoring and telehealth, connected devices and iot, data analytics and artificial intelligence, mobile apps and wearable devices.
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Market Segmentation:
The main types of respiratory monitoring devices are capnographs, gas analyzers, pulse oximeters, peak flow meters, spirometers, polysomnography, and others. Capnographs are monitoring devices that measure the concentration of carbon dioxide in exhaled air and display a numerical readout and waveform tracing. The various applications involved are chronic obstructive pulmonary disease (COPD), infectious diseases, asthma, and others that are used by end-users such as laboratories, hospitals, and home use.
Major Driver - Rising Incidence Of Chronic Respiratory Diseases Drives The Respiratory Monitoring Devices Market
The rising rate of chronic respiratory diseases is expected to drive the growth of respiratory monitoring devices market in the near future. Chronic respiratory diseases such as asthma, bronchitis, pneumonia, and others resulting from different bacterial and viral infections will boost the demand for respiratory monitoring devices. For example, in June 2023, according to The Centers for Disease Control and Prevention, a US based public health agency, there were 142,342 deaths in 2021 from chronic lower respiratory diseases. Additionally, in June 2023, according to The Australian Institute of Health and Welfare, a Australia-based national agency Nearly one-third (30%) of Australians, or 7.5 million people, have been diagnosed with chronic respiratory diseases. The respiratory monitoring devices such as spirometers and pulse oximeters act as essential devices to monitor vital respiratory parameters.
Competitive Landscape:
Major companies operating in the respiratory monitoring devices market include Covidien LLC, GE Healthcare Inc., Philips Healthcare, ResMed Corp., Siemens Healthcare GmbH, Merck & Co. Inc., Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Sirnaomics Inc., Traversa Therapeutics Inc., CareFusion Corporation, Smiths Medical ASD Inc., Masimo Corporation, COSMED S.r.l., IITC Life Science Inc., Micro Idea Instruments Co. Ltd., OES Medical Ltd., Pulmonx Corporation, RWD Life Science Co. Ltd., Scientific Respiratory Equipment Inc., AirSep Corporation, Medtronic plc, Drägerwerk AG & Co. KGaA, Hamilton Medical India Pvt. Ltd., Getinge AB, Respiratory Motion Inc., Genstar Technologies Co. Inc., Avery Biomedical Devices Inc., Dynarex Corporation, Quality Medical Group Ltd.
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Top Trend - Smart Respiratory Monitoring Devices Revolutionize Disease Diagnosis And Management
The companies in the market are increasingly launching smart respiratory monitoring devices to diagnose and monitor some respiratory diseases. These smart respiratory monitoring devices are Bluetooth-enabled and can be connected to smartphones to continuously monitor vital respiratory parameters. For instance, in February 2022, Aptar Pharma, a US-based manufacturer of drug delivery systems, launched HeroTracker® Sense. The new offering is a novel digital respiratory health solution that converts a standard meter dose inhaler into a smart connected healthcare device. It is useful for patients to track their MDI usage and help them stick to their prescribed doses.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Respiratory Monitoring Devices Market Characteristics
3. Respiratory Monitoring Devices Market Trends And Strategies
4. Respiratory Monitoring Devices Market - Macro Economic Scenario
5. Respiratory Monitoring Devices Market Size And Growth
…..
27. Respiratory Monitoring Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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