Respiratory Monitoring Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Respiratory Monitoring Market Analysis
The respiratory monitoring market is expected to register a CAGR of 9.5% over the forecast period.
The outbreak of COVID-19 impacted the respiratory monitoring market significantly. The demand for respiratory monitoring devices has witnessed significant growth during the COVID-19 pandemic due to the increasing number of COVID-19 cases which require continuous respiratory monitoring. Additionally, as per the study published in MDPI Journal in June 2021, lower CO2 levels were associated with an increased risk of death in COVID-19 patients. Hence, analysis of the capnogram can therefore be a useful method for tracking CO2 levels in COVID-19 patients. Such an advantage is expected to drive the market over the pandemic. Furthermore, as per Medtronic's 2022 annual report, COVID-19 is having, and will continue to have, an adverse impact on increasing respiratory monitoring. It also stated that there is a continuous acceptance and growth in respiratory monitoring, led by the Nellcor pulse oximetry sensors and SonarMed Airway Monitoring System for the NICU in the fiscal year 2022. Hence, the above-mentioned factor indicated the impact of the pandemic on the rising adoption of various respiratory monitoring devices, thus driving growth.
The respiratory monitoring market will show rapid growth due to the rise in the number of respiratory diseases, the high prevalence of tobacco smoking, and the development of advanced technologies in respiratory monitoring market. For instance, as per WHO, in 2021, chronic respiratory diseases affect more than one billion people globally. Also, as per the data from Lung India as of August 2022, the prevalence of asthma among Indian children was around 18.2%, in 2021. Furthermore, according to the Forum of International Respiratory Societies report 2022, approximately 200 million people are estimated to have COPD, and 262 million people are affected by Asthma. Additionally, in November 2022, FDA and CDC released federal data from the 2022 National Youth Tobacco Survey which showed that in 2022, more than 1 in 10 middle and high school students (3.08 million) had used a tobacco product from October to November 2022 including 16.5% of high school and 4.5% of middle school students out of which 2.4% were smokeless. Such a high prevalence of respiratory disease and the high prevalence of tobacco smoking are expected to increase the demand for respiratory monitoring, eventually driving the market over the forecast period.
Moreover, various product launches by the key market players support the market expansion over the forecast period. For instance, in March 2021, Vyaire Medical launched its innovative remote Aiocare mobile spirometer in the United Kingdom. The device helps promptly diagnose pulmonary diseases such as asthma and COPD as accurately as hospital-grade spirometers. Such product launches are expected to propel the growth of the respiratory monitoring devices market over the forecast period. Additionally, various initiatives taken by the pharmaceutical players propel the market's growth. For instance, in November 2021, Smile Train and Lifebox issued a Request for Proposals (RFP) for a capnography device to help Smile Train partner hospitals provide complete, safe cleft care for children. Such company developments are expected to drive the market over the forecast period.
However, reimbursement concerns and the high price of the monitoring devices are the factors expected to restrain the market growth.
Respiratory Monitoring Market Trends
This section covers the major market trends shaping the Respiratory Monitoring Market according to our research experts:
Spirometer Segment is Expected to Witness High Growth Over the Forecast Period
A spirometer is a device that measures the amount of air that is inspired and expelled by the lungs. The passage of air in and out of the lungs is measured with a spirometer. Obstructive and restrictive aberrant ventilation patterns can be identified by the spirogram. The segment is expected to grow due to the increasing prevalence of chronic respiratory diseases such as COPD, Asthma, TB, etc., and technological improvements in spirometers. For instance, according to the study published in MDPI Diagnostics in July 2021, COPD is projected to be 14.5% in Australia, 4.4% to 16.7% in China, and 5.6% in Indonesia, while COPD (after removing asthmatics) was 8.6% in Japan, 13.4% in Korea, 4.7% in Malaysia, 5.4% to 6.1% in Taiwan, 3.7% to 6.8% in Thailand, 3.5% to 20.8% in the Philippines, and 6.7% in Vietnam, respectively. Thus, with the increasing prevalence of respiratory diseases, the demand for its monitoring is expected to increase, which is likely to propel the growth of the segment.
Furthermore, companies are developing advanced technologies, launching new products, and forming strategic alliances with the market players to stay competitive in the market. For instance, in November 2021, Cipla Limited launched Spirofy, India's first pneumotach based portable, wireless Spirometer, on World COPD Day. With this launch, the company intends to revolutionize Obstructive Airway Disease (OAD) diagnosis, in line with its ambition to strengthen its position as the lung leader in India. Such launches are expected to drive the segmental growth over the forecast period.
Thus, owing to the above factors, the spirometer segment is expected to show significant growth over the coming years.
North America is Expected to Dominate the Respiratory Monitoring Market Over the Forecast Period
North America has dominated the respiratory monitoring market, and the dominance of the market is mainly attributable to the increasing prevalence of respiratory diseases. Also, there is a rise in per capita health expenditure in the country, which is expected to increase over the forecast period owing to the decrease in the unemployment rate. According to data from the Asthma and Allergy Foundation of America, in April 2021, over 20 million people in the United States aged 18 and above suffer from asthma each year. Thus, the frequency of such conditions in the country implies a steady need for respiratory devices, causing the market under study in the United States to grow. In addition, according to the study published in Pulmonary Therapy in July 2022, the most common respiratory symptom, followed by a productive cough and shortness of breath, affects 17% of adult Americans. Thus, with the growing burden of respiratory diseases, the demand for respiratory monitoring devices is expected to increase over the forecast period, thereby boosting the market's growth.
Additionally, the development of advanced technology by the market players in the region supports market expansion. For instance, in March 2022, Respira Labs, a respiratory healthcare tech business based in the United States, released Sylvee, an AI-powered wearable lung monitor that employs acoustic resonance to assess lung function and identify variations in lung air volume. It aided in the early detection and treatment of chronic obstructive pulmonary disease (COPD), asthma, and COVID-19. Additionally, in March 2022, Respiri, a respiratory health management company, started its first reimbursed remote patient monitoring (RPM) pilot program at the Children's Hospital of Michigan in the United States. Such initiatives by the market players are expected to boost market growth over the forecast period.
Respiratory Monitoring Industry Overview
The respiratory monitoring market is moderate due to the presence of companies operating globally as well as regionally. The competitive landscape includes an analysis of international as well as local companies which hold significant market shares and are well known including Airsep Corporation, Medtronic (Covidien), Draegerwerk, GE Healthcare, Getinge Inc., Philips Healthcare, Resmed, Siemens Healthcare, among others.
Respiratory Monitoring Market Leaders
Resmed
Draegerwerk
GE Healthcare
Philips Healthcare
Medtronic Inc. (Covidien)
*Disclaimer: Major Players sorted in no particular order
Respiratory Monitoring Market News
- In July 2022, Switzerland-based medical technology company Sleepiz registered its Sleepiz One+ contactless respiration and heart rate measuring device with the Food and Drug Administration (FDA). Following the company's successful market launch in Europe and India, the FDA listing paves the way for Sleepiz to offer its solution for remote patient monitoring and clinical trials in the United States.
- In March 2022, the development of remote patient monitoring services for chronic conditions like chronic obstructive pulmonary disease (COPD) and heart disease has been accelerated by Smart Meter's release of the iPulseOxTM. It is one of the first cellular-connected pulse oximeters in the world. The Smart Meter is a pioneer in cellular-enabled remote patient monitoring (RPM) data and devices.
Respiratory Monitoring Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in the Number of Respiratory Diseases
4.2.2 High Prevalence of Tobacco Smoking
4.2.3 Development of Advanced Technologies
4.3 Market Restraints
4.3.1 Reimbursement Concerns
4.3.2 High Price of the Monitoring Devices
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Type of Device
5.1.1 Spirometers
5.1.2 Peak Flow Meters
5.1.3 Sleep Test Devices
5.1.4 Gas Analyzers
5.1.5 Pulse Oximeters
5.1.6 Capnographs
5.1.7 Other Types of Devices
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.2 Europe
5.2.2.1 Germany
5.2.2.2 United Kingdom
5.2.2.3 France
5.2.2.4 Italy
5.2.2.5 Spain
5.2.2.6 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 Australia
5.2.3.5 South Korea
5.2.3.6 Rest of Asia-Pacific
5.2.4 Middle East and Africa
5.2.4.1 GCC
5.2.4.2 South Africa
5.2.4.3 Rest of Middle East and Africa
5.2.5 South America
5.2.5.1 Brazil
5.2.5.2 Argentina
5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Airsep Corporation
6.1.2 Medtronic (Covidien)
6.1.3 Draegerwerk
6.1.4 GE Healthcare
6.1.5 Hamilton Medical
6.1.6 Getinge Inc.
6.1.7 Philips Healthcare
6.1.8 Resmed
6.1.9 Siemens Healthcare
6.1.10 Vyaire Medical, Inc.
6.1.11 Nihon Kohden Corporation
6.1.12 Smiths Medical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Respiratory Monitoring Industry Segmentation
As per the scope of the report, respiratory monitoring devices help in monitoring various respiratory disorders. These devices diagnose acute or chronic respiratory disorders by determining the respiratory capabilities of the lungs. The Respiratory Monitoring Market is segmented by Type of Device (Spirometers, Peak Flow Meters, Sleep Test Devices, Gas Analyzers, Pulse Oximeters, Capnographs, and Other Types of Devices) and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Type of Device | |
| Spirometers | |
| Peak Flow Meters | |
| Sleep Test Devices | |
| Gas Analyzers | |
| Pulse Oximeters | |
| Capnographs | |
| Other Types of Devices |
| Geography | ||||||||
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Respiratory Monitoring Market Research FAQs
What is the current Respiratory Monitoring Market size?
The Respiratory Monitoring Market is projected to register a CAGR of 9.5% during the forecast period (2024-2029)
Who are the key players in Respiratory Monitoring Market?
Resmed, Draegerwerk, GE Healthcare, Philips Healthcare and Medtronic Inc. (Covidien) are the major companies operating in the Respiratory Monitoring Market.
Which is the fastest growing region in Respiratory Monitoring Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Respiratory Monitoring Market?
In 2024, the North America accounts for the largest market share in Respiratory Monitoring Market.
What years does this Respiratory Monitoring Market cover?
The report covers the Respiratory Monitoring Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Respiratory Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Respiratory Monitoring Industry Report
Statistics for the 2024 Respiratory Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Respiratory Monitoring analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
