Market Trends of Europe Respiratory Monitoring Industry
This section covers the major market trends shaping the Europe Respiratory Monitoring Market according to our research experts:
Peak Flow Meters are Expected to Register Significant Growth over the Forecast Period
Peak flow meters are handheld devices used to measure the rate of respiration. They are portable devices that are used to measure the airflow from the lungs and the person's ability to pump the air. A peak flow meter is an inexpensive and portable device used to measure the peak flow of air moving out of the lungs and is widely used in the management of asthma.
The large prevalence of asthma in Europe is a major factor contributing to the growth of the studied segment. For instance, according to an article published by PubMed Central in July 2022, asthma is considered one of the most prevalent chronic diseases in Germany which affects about 4-5% of all adults and 10% of children. Moreover, the Asthma and Lung UK in November 2021 indicated that there were 5.4 million people in the United Kingdom affected by asthma. As per the organization, around one in every 12 adults and one in every 11 children were affected by the disease. The large number of people affected by asthma is likely to have a positive impact on market growth.
The recent advancements in peak flow meters are expected to boost market growth. For instance, an article published by PubMed Central in May 2021 discussed the use of a new digital peak flow meter, known as Smart Peak Flow (SPF), which has been developed to monitor asthma patients' peak expiratory flow (PEF) at home. It is connected wirelessly to any type of smartphone and it is used by asthma patients to self-monitor the progress of their clinical condition. Such management of the peak expiratory flow (PEF) which is widely used in the diagnosis and monitoring of asthma is expected to propel the growth of the market segment.
Another factor that contributes to its high demand is its portable nature, which makes these devices easy to handle, easy to carry, and remotely accessible. Thus, factors such as the high prevalence of asthma and technological advancement in peak flow meters are expected to propel the segment growth over the forecast period.
United Kingdom is Expected to hold a Significant Share in the Market Over the Forecast Period
The major factors responsible for the growth of the United Kingdom region in the studied market are the rising geriatric population, increasing prevalence of respiratory disorders, and increasing research and development expenses by key players in the country.
The rising geriatric population in the country is a major factor driving the growth of the market as the prevalence of respiratory diseases increases with age. For instance, according to the data from the Centre for Ageing Better in 2022, there are almost 11 million people aged 65 and over in England and it accounts for 19% of the total population. It is also estimated that in 10 years the geriatric population will reach almost 13 million people or 22% of the total population.
Furthermore, several key developments by country-level players are also adding to the growth of the market. For instance, in October 2022, Acurable, a United Kingdom-based medical device company, raised EUR 11 million (USD 10.8 million) in Series A funding. The company will use the funds to accelerate the international expansion of its first home sleep-testing device, the AcuPebble SA100, which enables users to detect and monitor obstructive sleep apnea. The company will also develop new products for chronic obstructive pulmonary disease (COPD), asthma, and cardiovascular conditions.
Hence, factors such as the rising geriatric population and increasing key developments by major country-level players are expected to boost the growth of the market in the United Kingdom.
