The size of the North America Respiratory Monitoring Devices Market was estimated to be USD 7.37 billion in 2022 and is predicted to reach USD 11.49 billion by 2027, growing at a CAGR of 9.3% during the forecast period.
The North America Respiratory monitoring device market is primarily driven by factors such as rising investment in healthcare expenditure, growing expansion of advanced technologies, availability of low-cost respiratory monitoring devices, the rising geriatric population in this region, increasing chronic obstructive pulmonary disease patients (COPD), Asthma, and tuberculosis. Pulse Oximeters, Capnography, Spirometers, Polysomnography, Peak Flow Meters, Gas Analyzers, and other respiratory monitoring devices are available in the market. As a result of the increasing patient demand for peak flow meters and pulse oximeters, both of these devices drive the market growth regionally. In addition, asthma is one of the most significant contributors to this market, impacting children, adults, and the elderly. As a result, the demand for Peak flow meters has increased, and this device is currently the most dominant product in the respiratory monitoring device market throughout the forecast period.
Major opportunities exist in the North America Respiratory monitoring device market, such as lower treatment costs, development of new technologies, and so on. The rapid expansion of the population, the growing incidence of chronic illnesses (such as asthma), and the cost benefits of home care equipment and services (compared to hospital visits) are all propelling the home healthcare monitoring device industry forward. In addition, the rising frequency of respiratory illnesses has boosted demand for early detection, which is projected to boost sales of respiratory monitoring equipment. As a result, the respiratory monitoring market is likely to be fueled by all of these factors. In the near future, the market for respiratory monitoring devices is likely to be driven by the rising prevalence of chronic respiratory illnesses such as asthma, bronchitis, pneumonia, and other infections caused by bacteria and viruses. The respiratory monitoring devices market is expected to develop exponentially in both the hospital and home care end-user areas. As a result, manufacturers may benefit from the development of personal capnometry, as this innovative device may be used at home.
The market for North American respiratory monitoring devices is being hindered by the amount of time it takes for products to be approved, strict regulatory regulations, and approval processes. In addition, the harmful effects of some respiratory care devices on newborns and a lack of awareness resulting in a huge underdiagnosed and undertreated population have challenged market expansion to some extent.
This research report on the North American respiratory monitoring devices market has been segmented and sub-segmented into the following categories:
By Diagnostic Devices:
By Monitoring Devices:
Geographically, this region holds the highest share globally because of its developed markets and the availability of major players in this region. Because of the growing prevalence of respiratory diseases, North America has led the respiratory monitoring device market. The regional market is growing due to rising demand for respiratory devices from COPD, Sleep Apnea, asthma patients in the United States, and favorable reimbursement. In addition, the country's per capita health expenditure is increasing, and this trend is projected to continue during the forecast period as the unemployment rate falls. As a result, the rising incidence of respiratory problems and the growing population of smokers are the primary drivers of the respiratory devices market in the United States.
KEY MARKET DRIVERS:
A few of the notable companies operating in the North American respiratory monitoring devices market profiled 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.
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