The size of the North American Respiratory Devices Market was worth USD 6.61 billion in 2023. It is further estimated to be growing at a CAGR of 9.35% and worth USD 10.35 billion by 2028.
Respiratory diseases like respiratory infections, asthma, lung cancer, and COPD are growing at an alarming rate in both developed and developing countries, and are driving the respiratory devices market in this area.
The prominent factors in the development of the North America Respiratory Devices Market are the spread of lifestyle-related diseases such as diabetes, cancer, and atherosclerosis, and the increasing adoption of remote patient monitoring devices. Also, as the elderly are more susceptible to chronic and lifestyle-related diseases, an increase in the elderly population is expected to drive the growth of the respiratory devices market, and the elderly will use these patient monitoring devices to improve their health.
The costs associated with this technology are the main hindrance to the growth of the North America Respiratory Devices Market.
The advances in wireless technology, these devices are used to remotely monitor patient physiological parameters such as blood glucose, blood pressure, and heart rate, and provide patients with the appropriate treatment. Therefore, the technological advances in these devices and the untapped markets in developing regions are expected to open new avenues for the respiratory device market. The new device can be used at home, and the introduction of a personal vibrometer gives manufacturers more opportunities in the North America Respiratory Devices Market.
The increased prevalence of respiratory illnesses is expected to increase the need for early diagnosis and increase sales of respiratory monitoring devices. Therefore, all these factors are expected to drive and create opportunities in the North American respiratory devices market.
The issues related to government regulations and reimbursement are the significant challenges in the North America Respiratory Devices Market.
This research report on the North America Respiratory Devices Market has been segmented and sub-segmented into the following categories:
By End User:
Regionally, the United States Respiratory Devices Market leads the North American Respiratory Devices Market with a share of almost 70%. The North American market is very advanced and is fixated on innovating economical devices. Companies are dedicated to research, sourcing, and quality, factors that are vital to the success of the industry.
Companies playing a dominant role in the North America Respiratory Devices Market profiled in this report are Masimo Corporation, ResMed, Inc., Fisher and Paykel Healthcare Limited, Philips Healthcare, Covidien plc, and CareFusion Corporation.
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