Respiratory Monitoring Devices Market Value Share, Analysis and Segments 2017-2021

Respiratory monitoring devices are experiencing increased demand due to increasing respiratory disorders including asthma, lung cancer, chronic obstructive pulmonary disease (COPD), bronchitis, emphysema, pneumonia, tuberculosis and cystic fibrosis among others. Increasing air pollution and addiction to tobacco smoking is also major factor driving the demand.

Respiratory monitoring devices market is segmented by device type into: capnographs (bedside and portable), pulse oximeter (bedside and portable), spirometer, peak flow meter, and others. Technological developments have transformed some of the respiratory devices to become compact and accurate. Integration of these devices with wireless technology has enables real-time remote monitoring of vital parameters. Advent of telemedicine has been a major factor in the evolution of respiratory monitoring devices. Wireless pulse oximeters and capnographs can be integrated with Wi-Fi or Bluetooth to central hospital server. Physicians are immediately informed about any major fluctuations in vital parameters. This helps in minimizing complications, and assures better patient care. Due to these technological developments, high volume sale, and higher device price, capnographs and pulse oximeters accounts for largest share in the market.

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Increasing cases of tobacco addiction and air pollution has led to high prevalence of lung cancer globally. American Cancer Society estimates about 222,500 new cases, and 155,870 deaths due to lung cancer in 2017 in the U.S. alone. Lung cancer is the most common type of cancer globally, mostly affecting individuals above 65 years of age. Statistics published by the European Union states that 401,459 deaths were recorded in the EU due to respiratory disorders in 2013. Asthma is another disorder affected large percentage of global population. World Health Organization states that more than 200 million individuals globally are diagnosed with asthma. Majority of the asthma cases are being registered in low and middle income countries, resulting in over 80% deaths in these countries due to asthma. Africa also records alarming rate of tuberculosis, with more than 400,000 active cases in 2013. Such high disease prevalence demands respiratory medical care for huge population.

Currently respiratory monitoring devices market has reached saturation in North America and Europe. However, selective market segments such as wireless pulse oximeters and portable capnographs are experiencing appreciable growth. As new hospitals are emerging in Asia Pacific, Latin America, Middle East and Africa, the demand for hospital bedside devices is increasing.

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Respiratory monitoring devices market is fragmented with large number of local players and intense price competition. Key players include CareFusion Corporation, Smiths Medical, ResMed, Inc., Masimo Corporation. COSMED, GE Healthcare, MGC Diagnostic Corporation, Medtronic Inc., ndd Medical Technologies, Inc., and Omron Healthcare Pvt. Ltd. among others.

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