Press release
Respiratory Monitoring Devices Market is expected to reach USD 9.3 billion by 2030
Respiratory Monitoring Devices Market - DataM Intelligence
The Global Respiratory Monitoring Devices Market reached USD 4.6 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 9.3 billion by 2030. The Global Respiratory Monitoring Devices Market is expected to exhibit a CAGR of 9.3% during the forecast period 2023-2030.
Respiratory monitoring devices play a crucial role in diagnosing or monitoring acute and chronic respiratory issues by assessing the lung's breathing capabilities. These devices aid in conducting respiratory examinations to evaluate the efficiency of gas exchange in the lungs and identify any obstructions in the respiratory tract.
The global market for respiratory monitoring devices is influenced by several factors. Notable among them is the escalating government expenditure on healthcare in emerging economies like India. Additionally, the increasing prevalence of respiratory disorders is contributing to the growth of the market. The market is further driven by ongoing product innovations and technological advancements in respiratory monitoring devices, enhancing their capabilities and expanding their applications. These combined factors are projected to propel the global respiratory monitoring devices market forward.
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Market Dynamics
The surge in technological advancements is significantly impacting respiratory research and monitoring.
In longitudinal epidemiological studies, advancements in technology have led to the widespread use of portable electronic spirometers. These devices are employed to measure and continuously track forced expiratory volume in one second (FEV1) and forced vital capacity (FVC), providing valuable insights into respiratory health.
As an example of recent progress, in July 2022, Sleepiz, a Switzerland-based medical technology company, achieved FDA approval for its Sleepiz One+ contactless respiration and heart rate monitoring device. This regulatory milestone enables Sleepiz to introduce its innovative solution for remote patient monitoring in the United States. The adoption of such cutting-edge technologies signifies a significant driver for the global market, shaping its trajectory positively during the forecast period.
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Market Segmentation
By Product
Spirometer
Peak Flow Meters
Sleep Test Devices
Gas Analyzers
Pulse Oximeters
Capnography
Others
By End User
Hospitals
Ambulatory Surgery Centers
Homecare
Market Key Players
Major players are GE Healthcare, Smith & Nephew, Vyaire (Carefusion Corporation), Masimo Corporation, Medtronic, MGC Diagnostics Corporation, COSMED, Nihon Kohden Corporation, Philips Healthcare, Novelda AS.
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