Non-invasive Wearable Sensors to Expand Clinical Scope of Respiratory Monitoring Devices Market; Clinicians Benefit from Advanced Spirometry Technology, Says TMR
- Adoption of Portable Devices in Home Settings to Advance Management Of Chronic Respiratory Diseases in Patient Population Around the World
- Device Manufacturers Lean on New Design and Performance Parameters in Pulse Oximeters to Unlock New Prospects in Respiratory Monitoring Devices Market; Pulse oximeters to reach market value of ~US$ 3.4 Bn by 2027
ALBANY, N.Y., July 21, 2020 /PRNewswire/ -- A range of sensors are integrated with respiratory monitoring devices, notably polysomnography, capnographs, and pulse oximeters, help in monitoring sleep patterns and in managing chronic respiratory diseases (CRDs), mainly through respiration rate (RR). Adoption of machine learning in such devices help in automated diagnosis of sleep-related events and respiratory conditions.
The popularity of non-invasive methods has helped the pulse oximeters segment climb to valuation of ~US$ 3.4 Bn by 2027. The global respiratory monitoring devices market is expected to garner ~6% CAGR during 2019 to 2027.
Research analysts at TMR assert that manufacturers in the respiratory monitoring devices market should focus on improving the effectiveness, convenience, and reliability of sensors in spirometry and capnometry. In particular, focus on innovation on flow and pressure sensors to improve management of respiratory diseases in all clinical settings.
Key Findings of Respiratory Monitoring Devices Market Report
Of the various types of products, pulse oximeter segment held the leading share in 2018 in respiratory monitoring devices market
Of all the end-use segments, hospitals held the majority of market share in 2018
Home care is expected to rise at promising pace and will gain share by the end of 2027
Among the various key regional markets, North America accounted for the majority of share in 2018
Asia Pacific respiratory monitoring devices market to rise at robust CAGR of ~7% during 2019 – 2027
Explore 194 pages of top-notch research, incisive insights, and detailed country-level projections on Respiratory Monitoring Devices Market (Product: Pulse Oximeters, Capnographs, Spirometers, Polysomnographs [PSG], Peak Flow Meters, Gas Analyzers, and Others; and End User: Home Care, Hospitals, Ambulatory Surgical Centers, and Specialty Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/report-toc/1415
Respiratory Monitoring Devices Market: Key Driving Factors and Promising Avenues
Growing focus on respiratory health in worldwide population is a key driver for opportunities in the respiratory monitoring devices market. The prevalence and mortality of chronic obstructive pulmonary disease (COPD) and asthma is a key factor bolstering the demand for respiratory monitoring devices for diagnostic and therapeutic ends.
To put things in perspective, per a 2017 report by the WHO, 3 million die every year due to COPD. Further, asthma is the third leading cause of death worldwide
Rapidly aging population and increasing pollution levels have fueled the prospects in the respiratory monitoring devices market. According to a projection by the WHO, the geriatric population will touch 1.5 Bn by 2050.
Advances in performance of polysomnography have improved clinical evaluation of problems in sleep patterns, thereby boosting the respiratory monitoring devices market.
The growing clinical role of respiratory monitoring devices in managing sleep apnea. Over the years, sleep monitoring devices have grown in clinical relevance
In recent years, numerous product approvals have been made in home care segments. The application smart peak flow meters in detecting asthma exacerbations has also fueled revenues in the respiratory monitoring devices market.
Players in general are leaning on unveiling respiratory monitoring devices that are reliable, portable, patient-friendly, and cost-effective. Most have thus focused on ambulatory setting and home care segment to strengthen their competitiveness in the respiratory monitoring devices market. A few manufacturers and vendors are focusing on mobile technology, such as combining smartphones with pulse oximeters. Furthermore, players with huge financial might are focusing on research and development activities to gain a competitive edge over others and consolidate shares in respiratory monitoring devices market.
Among the various regions, North America has been a vibrant market for various players in the respiratory monitoring devices market. The striking appetite for cutting-edge diagnostic devices in the management of chronic respiratory diseases has cemented the high potential in the regional market. Numerous players in the region have been able to bag approvals, thereby imparting momentum to revenue generation in this regional market.
The Respiratory Monitoring Devices Market can be segmented as follows:
Peak Flow Meters
Ambulatory Surgical Centers
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Respiratory Disorders Treatment Market: According to Transparency Market Research's latest report on the respiratory disorders treatment market for the historical period 2017–2018 and forecast period 2019–2027, increase in incidence of respiratory disorders, surge in supportive care products to meet the rise in demand for treatment of respiratory disorders, entry of new players, and rise in access to healthcare are projected to drive the market
Respiratory Disposable Devices Market: A major factor driving the respiratory disposable devices market includes the elimination of risk of cross contamination associated with the usage of reusable respiratory devices, especially in the hospital settings, as most respiratory diseases are contagious and improper sterilization processes usually lead to cross contamination and increased spread of the disease.
Peak Flow Meter Market: High prevalence of respiratory diseases such as chronic obstructive pulmonary disease (COPD), asthma, and neurological diseases, high geriatric population with respiratory illness, growing research and development initiatives for asthma, are rising demand for diagnostic imaging devices are the major factors driving the global peak flow meter market.
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