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Respiratory Monitoring Market Size (2024 - 2029)

The respiratory monitoring devices market is anticipated to experience significant growth, driven by the increasing prevalence of respiratory diseases and the impact of the COVID-19 pandemic, which heightened the demand for continuous monitoring solutions. The market's expansion is further supported by advancements in technology and the introduction of innovative products by key players. Despite these growth drivers, challenges such as reimbursement issues and the high cost of devices may hinder market expansion.

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Market Size of Respiratory Monitoring Industry

Respiratory Monitoring Market Summary
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

Respiratory Monitoring Market Major Players

*Disclaimer: Major Players sorted in no particular order

Respiratory Monitoring Devices 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 Devices 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
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Respiratory Monitoring Market Size Summary

The respiratory monitoring devices market is poised for substantial growth, driven by the increasing prevalence of respiratory diseases and the high incidence of tobacco smoking. The market's expansion is further supported by advancements in technology and the development of innovative products. The COVID-19 pandemic significantly accelerated the demand for these devices, as continuous respiratory monitoring became crucial for managing the health of infected patients. This surge in demand has led to a broader acceptance and adoption of various respiratory monitoring technologies, such as pulse oximetry sensors and airway monitoring systems. Despite the challenges posed by reimbursement concerns and the high costs of these devices, the market is expected to continue its upward trajectory, fueled by ongoing technological advancements and strategic initiatives by key industry players.

North America currently dominates the respiratory monitoring market, largely due to the high prevalence of respiratory conditions and increased healthcare expenditure. The region's market growth is further bolstered by the introduction of advanced technologies, such as AI-powered wearable lung monitors, which enhance the early detection and management of respiratory diseases. The competitive landscape is characterized by the presence of both global and regional companies, with significant market shares held by major players like Medtronic, Philips Healthcare, and Resmed. These companies are actively engaged in product development and strategic partnerships to maintain their competitive edge. As the demand for respiratory monitoring devices continues to rise, driven by both health trends and technological innovations, the market is expected to experience robust growth over the forecast period.

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Respiratory Monitoring Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rise in the Number of Respiratory Diseases

      2. 1.2.2 High Prevalence of Tobacco Smoking

      3. 1.2.3 Development of Advanced Technologies

    3. 1.3 Market Restraints

      1. 1.3.1 Reimbursement Concerns

      2. 1.3.2 High Price of the Monitoring Devices

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Type of Device

      1. 2.1.1 Spirometers

      2. 2.1.2 Peak Flow Meters

      3. 2.1.3 Sleep Test Devices

      4. 2.1.4 Gas Analyzers

      5. 2.1.5 Pulse Oximeters

      6. 2.1.6 Capnographs

      7. 2.1.7 Other Types of Devices

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Italy

        5. 2.2.2.5 Spain

        6. 2.2.2.6 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 China

        2. 2.2.3.2 Japan

        3. 2.2.3.3 India

        4. 2.2.3.4 Australia

        5. 2.2.3.5 South Korea

        6. 2.2.3.6 Rest of Asia-Pacific

      4. 2.2.4 Middle East and Africa

        1. 2.2.4.1 GCC

        2. 2.2.4.2 South Africa

        3. 2.2.4.3 Rest of Middle East and Africa

      5. 2.2.5 South America

        1. 2.2.5.1 Brazil

        2. 2.2.5.2 Argentina

        3. 2.2.5.3 Rest of South America

Respiratory Monitoring Market Size FAQs

The Respiratory Monitoring Market is projected to register a CAGR of 9.5% during the forecast period (2024-2029)

Resmed, Draegerwerk, GE Healthcare, Philips Healthcare and Medtronic Inc. (Covidien) are the major companies operating in the Respiratory Monitoring Market.

Respiratory Monitoring Devices Market Report Snapshots

Respiratory Monitoring Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)