The global respiratory monitoring devices market is segmented by device type into pulse oximeter, spirometer, capnographs, peak flow meter, transcutaneous blood gas monitor and near-infrared spectrometer; by end-user into hospitals, clinics, home care settings and others and by regions. The respiratory monitoring devices market is anticipated to mask a significant CAGR of 9.3% during the forecast period i.e. 2019-2027.
Currently, the market is observing a vibrant growth owing to increasing incidences of lung cancer along with changing environmental conditions with high pollutant levels. Many multi-national companies are concentrating towards new product advancements in these devices. Further, the increasing allergen level in indoor environment as well as increasing population suffering due to passive smoking, the market is expected to display a budding growth in upcoming years.
North America is estimated to induce a promising growth of respiratory monitoring devices on the back of abnormal rise in incidences of lung cancer in women across the region as per the observation of the World Health Organization. Further, Asia Pacific is anticipated to display a vibrant growth over the forecast period on account of growing incidences of lung cancer across China and Australia in both men and women along with high air pollution rate across China and Japan. Furthermore, the Europe market for respiratory monitoring devices is estimated to showcase a positive growth in the next eight years on the back of high prevalence of geriatric population across the countries such as, Germany, Italy and others along with high growing cases of lung cancer across the Northern and Southern European regions as per WHO statistics.
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High Prevalence rate of Respiratory Diseases
The recent statistics released by the WHO states that lung cancer was responsible for 1.8 million deaths in the year 2018 contributing the highest number of deaths of all the cancers backing 18.4% of total cancer deaths. On account of increasing harmful outdoor allergens and chemical irritants, the number of people suffering from asthma have been increasing. According to WHO, the estimated number of deaths caused due to asthma in the year 2015 were 383,000. This alarming number is attributed to impact the respiratory monitoring devices market steadily over the forecast period.
However, high cost constraints associated with computerized respiratory monitoring systems and related reimbursement concerns are expected to play as the major factors behind limiting the growth of the global respiratory monitoring devices market over the forecast period.
The report titled “Global Respiratory Monitoring Devices Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global respiratory monitoring devices market in terms of market segmentation by device type, by end-user and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global respiratory monitoring devices market which includes company profiling of GE Healthcare, Covidien, Philips Healthcare, Siemens Healthcare, Resmed, Merck & Co. Inc., Draegerwerk, Smiths Medical, Quark Pharmaceuticals Inc., Masimo Corporation and Other Prominent Players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global respiratory monitoring devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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