The size of the global respiratory monitoring devices market is estimated to be USD 19.99 billion in 2022. As per our report, this value is further estimated to be growing at a CAGR of 9.7% from 2022 to 2027 and worth USD 31.75 billion by 2027.
A respiratory monitoring device is used to check proper airway function and oxygen supply. A variety of respiratory tests are being developed to assess the lungs' effectiveness in exchanging breathing gases and identifying respiratory tract obstructions. Capnography, gas analyzers, pulse oximeters, peak flow meters, spirometers, and polysomnography are among the most common respiratory monitoring equipment produced. These instruments determine the lungs' respiratory capacities to identify acute or chronic respiratory diseases. Respiratory monitoring is a component of polysomnography (PSG), and it aids in the detection of sleep-related breathing problems linked to diurnal movement disorders. Polysomnography (PSG) is a technique for gathering information about breathing and sleeping patterns. Respiratory monitoring device sales are being utilized to supplement the respiratory monitoring device market. Respiratory monitoring devices are used to monitor respiration-related factors that aid in the diagnosis of respiratory infections.
MARKET DRIVERS:
The rising rate of geriatric population and chronic respiratory diseases due to pollution, reduced air quality, smoking, and regular chemical interaction leads to increased demand for the respiratory monitoring devices market across the world.
The emergence of innovative products such as cordless devices, wearables, smartphones, and integrated devices is owing to rapid advancements in technology, leading to the increased adoption rate of these devices, which is another major factor boosting the growth of the global respiratory monitoring devices market. Also, key players and other medical organizations are developing active respiration monitoring devices to measure the capnography, respiration rate, pulse oximetry, and pulse rate, fuelling the growth of the respiratory monitoring devices market. In addition, the integration of technologies such as machine learning and signal analysis also boosts the growth of respiratory monitoring devices, especially PSG devices leading to the development of the global respiratory monitoring devices market.
The rising prevalence of chronic obstructive pulmonary disorders and increasing accounts of asthma-affected populations, resulting in high demand for respiratory monitoring devices, is expected to create growth opportunities for the global respiratory monitoring devices market during the forecast period. Rising focus on research and development activities from the private and public organizations for developing technologically advanced monitoring devices integrated with advanced technologies such as wearable strain sensors to meet the continually rising demand and are expected to offer lucrative growth opportunities for key market players during the forecast period. The emergence of innovative products and increasing economies of developing countries such as China, India, Saudi Arabia, and others are also likely to create lucrative growth opportunities for the global respiratory monitoring devices market during the forecast period.
MARKET RESTRAINTS:
Increasing manufacturing and maintenance costs are limiting the growth rate of the respiratory monitoring devices market. As a result, high costs associated with manufacturing restrain the growth of the global respiratory monitoring devices market to some extent.
Impact of COVID-19 on the global respiratory monitoring devices market:
The sudden outburst of novel coronavirus has started in Wuhan, China 2020. The quick increase of the COVID-19 cases has left millions of people left critically ill and dead. The COVID 19 has created a positive influence on the respiratory monitoring devices market. The patients diagnosed with the infection suffer from breathing problems as they require ventilators and breathing devices. During the crisis, the demand for ventilators is climbing up, and the governmental and industrial companies support them. For instance, the South African country authorities have introduced the National Ventilator Project to quickly developed and produced ventilation solutions for the pandemic. As per the World Health Organization (WHO), 1845 positive cases were recorded as of 9th April 2020.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 to 2027 |
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Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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Segments Analysed |
By Diagnostic Devices, Therapeutic Devices, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
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Companies Analysed |
Covidien GE Healthcare, Philips Healthcare, Siemens Healthcare, Resmed, Merck & Co. Inc, Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Access Pharmaceuticals Sirnaomics Inc., and Traversa Therapeutics Inc. |
This research report on the global respiratory monitoring devices market has been segmented and sub-segmented based on diagnostic devices, therapeutic devices, and regions.
Respiratory Monitoring Devices Market - By Diagnostic Devices:
The peak flow meter segment is predicted to be playing a leading role in the global respiratory monitoring devices market during the forecast period. The devices are used to measure the respiration rate. The growing demand for peak flow meters is lightweight, easy to handle and carry, and accessible remotely. The mentioned above factors surge the market growth. Moreover, factors like an extensive range of applications ranging from asthma to lung cancer augment the market development.
Respiratory Monitoring Devices Market - By Monitoring Devices:
The Pulse Oximeters segment is expected to dominate the market based on monitoring devices because of its accurate and fast results. Furthermore, it is predicted to be the top segment for the coming years because of its better diagnostic results than others.
Respiratory Monitoring Devices Market - By Region:
Geographically, North America dominated the global respiratory monitoring devices market in 2019 with a share of 37% and is expected to stay at the top for a few more years. The growing respiratory diseases like breathing problems, rising aging population, and new advanced products are majorly promoting the growth of the North American market. In North America, the United States is expected to secure the largest market share in revenue. In addition, chronic respiratory diseases like asthma, bronchitis, pneumonia result in viral and bacterial infections bolstering the market growth. For example, in the U.S, 25 million people have asthma, while 14 million suffer from chronic obstructive pulmonary diseases (COPD). In December 2018, ResMed, respiratory monitoring devices manufacturing company in the U.S., obtained Propeller Health for a value of 225million $. The Canadian respiratory monitoring devices market is the fastest-growing part of the region.
The European respiratory monitoring devices market is projected to have impressive growth during the assessment period. According to the World Health Organization (WHO), nearly 66 million people live with COPD, and every hour it is estimated to kill over 250 people worldwide. In Europe, 4-10%of adults have COPD and are the third leading cause of death. The U.K is leading the region's market share with growing demand from COPD, asthma, and sleep apnea patients strengthen the market growth.
Asia-Pacific is increasing at the highest CAGR because of increased technological advancements and a rise in disposable incomes. Due to increasing urbanization, the region's market growth is the rising purchasing power of patients in countries like India and China. Moreover, the mounting number of smokers, increasing pollution levels, and healthcare awareness programs by local governments escalate the respiratory monitoring devices market's growth. The escalating demand for better healthcare in India snowballs the market growth during the analysis period.
The Latin American respiratory monitoring devices market is expected to have constant growth over the review period. More than 37,000 people died in Brazilian 2015 due to COPD, as per the Unified Public Health System's Mortality Information System. In addition, burgeoning government funds and investments towards the healthcare sector fuels the respiratory monitoring devices market growth. Brazil is leading the market with significant market players focusing on acquisitions and mergers. Mexico's market is said to have the quickest change due to the growing adoption rate and mushrooming demand for respiratory diseases.
The Middle East & Africa respiratory monitoring devices market is expected to grow at an acceptable rate during the forecast period. The South African respiratory monitoring devices market is predicted to grow rapidly in this region due to rising stress on chronic lung diseases and growing advanced technologies. South Africa is ranked 25th for occurrence, with an estimation of 18deaths per 100,000 asthma cases. The high occurrence and adoption of urban lifestyle, growing obesity integrated with tobacco smoke intake surge the region's market growth.
KEY MARKET PLAYERS:
Notable market participants dominating the global respiratory monitoring devices market analyzed in this report are Covidien, GE Healthcare, Philips Healthcare, Siemens Healthcare, Resmed, Merck & Co. Inc., Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Access Pharmaceuticals Inc., Sirnaomics Inc., and Traversa Therapeutics Inc.
RECENT MARKET HAPPENINGS:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 Diagnostic Devices
5.1.2.1 Spirometers
5.1.2.2 Peak Flow Meters
5.1.3 Monitoring Devices
5.1.3.1 Sleep Test Devices
5.1.3.2 Gas Analyzers
5.1.3.3 Pulse Oximeters
5.1.3.4 Capnographs
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Type
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Covidien
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 GE Healthcare
8.3 Philips Healthcare
8.4 Siemens Healthcare
8.5 Resmed
8.6 Merck & Co. Inc.
8.7 Calondo Pharmaceuticals Inc.
8.8 Quark Pharmaceuticals Inc.
8.9 Access Pharmaceuticals Inc.
8.10 Sirnaomics Inc.
8.11 Traversa Therapeutics Inc.
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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