Global Respiratory Monitoring Systems Market – Industry Trends and Forecast to 2029

Market Analysis and Size

According to the World Health Organization, it is estimated that 3 million people worldwide pass away each year as a result of COPD, which affects about 65 million people worldwide. Asthma affects over 334 million people worldwide, with children making up about 14% of those affected. The main causes of the increased number of respiratory disease cases among the world's population are the rising pollution levels, increasing demand for tobacco use, and changing consumer lifestyles. The development of wearable sensors that effectively track respiration rate is being funded by the manufacturers.

Data Bridge Market Research analyses that the respiratory monitoring systems market which was USD 1.62 billion in 2021, would rocket up to USD 2.87 billion by 2029, and is expected to undergo a CAGR of 7.40% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Respiratory monitoring devices are crucial in treating patients with respiratory illnesses, including chronic obstructive pulmonary disease, acute respiratory failure, and asthma. Shortness of breath, increased breathing effort, skin color changes, whole or partial loss of consciousness, and other physical symptoms of respiratory distress might assist identify the issue.

Respiratory Monitoring Systems Market Dynamics

Drivers

• Technological advancements

The urgent need for innovative items such wearables, cordless devices, smartphones, and integrated devices brought on by the rapid improvement of technology is being adopted more quickly, driving the market's growth. The market for respiratory monitoring systems is expanding as manufacturers and other medical organisations develop active respiratory monitoring devices that assess pulse oxymetry, respiratory rate, pulse rate, capnography, and other parameters.

• Rising prevalence of chronic respiratory disorders

The market for respiratory monitoring devices is anticipated to grow quickly due to the rising prevalence of chronic respiratory disorders. The need for respiratory monitoring devices will increase due to the prevalence of chronic respiratory disorders as asthma, bronchitis, pneumonia, and other conditions brought on by various bacterial and viral infections.

• Rise in prevalence of respiratory infections

The demand for respiratory monitoring equipment is anticipated to increase at a promising rate in the upcoming years. The alarming increase in the prevalence of respiratory infections, asthma, and chronic obstructive pulmonary disease (COPD) around the world is fuelling the market for respiratory monitoring equipment.

Opportunities

In the forecast period of 2022-2029, the integration of technology such as signal learning and machine learning is creating growth opportunities for the respiratory monitoring systems market.

The respiratory monitoring systems market is primarily driven by factors including rising healthcare spending, expanding use of advanced technologies, low-cost respiratory monitoring device availability, an increase in the world's geriatric population, an increase in patients with chronic obstructive pulmonary disease (COPD), asthma, and tuberculosis, and a high prevalence of tobacco use and respiratory diseases. The high cost of COPD treatment and current technologies are two factors that limit market expansion. There are significant prospects in the respiratory monitoring systems market, such as lowering treatment and product costs and developing new technologies.

Restraints/Challenges

During the forecast period, rising maintenance and production costs would hinder and complicate the growth of the respiratory monitoring systems market.

However, during the course of the forecast period, it is anticipated that expensive computerised respiratory monitoring systems and related reimbursement issues would be the main factors restraining the growth of the worldwide respiratory monitoring market. It is predicted that the high cost constraints will particularly affect the developing and underdeveloped areas of the world.

This respiratory monitoring systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the respiratory monitoring systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Respiratory Monitoring Systems Market

Due to the Covid-19 pandemic's market for respiratory monitoring devices is expanding exponentially. Since Covid-19 is primarily a respiratory condition, the use of respiratory monitoring equipment to track the physiological state of the lungs during Covid-19 treatment has increased. In 2019, the market for respiratory monitoring devices was dominated by North America. The ongoing spread of COVID-19 benefits the healthcare sector. Additionally, it has a favourable impact on the market for respiratory monitoring systems. A coronavirus-infected patient is ventilated using positive end-expiratory pressure (PEEP), which helps to maximise lung compliance and minimise dead space ventilation. The key market players have a fantastic potential to develop cutting-edge technologies and equipment that will lower the number of persons infected with the coronavirus and increase revenue to spur market expansion.

Recent Development

• The "Airway Gas Option" is a respiratory accessory that "GE Healthcare" introduced in 2019 and is used to monitor patients and ventilators to detect respiratory gases like oxygen and carbon dioxide, anaesthesia, and breathing characteristics in adults, children, and newborn patients.
• "Medtronic" has unveiled new systems in 2019 like "NellcorTM" (PM1000N). This technology makes accessing and using patient status information linked to respiration and oxygenation. Babylog VN500, a novel form of ventilation for the smallest of patients, was introduced by Medtronic in 2019.

Global Respiratory Monitoring Systems Market Scope

The respiratory monitoring systems market is segmented on the basis of product type, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Diagnostics Devices

• Spirometers
• Peak Flow Meter

Monitoring Devices

• Sleep Test Devices
• Gas Analyzers
• Pulse Oximeters
• Capnograph

 End-User

• Laboratories
• Hospitals
• Home Use

Respiratory Monitoring Systems Market Regional Analysis/Insights

The respiratory monitoring systems market is analysed and market size insights and trends are provided by country, product type, application and end-user as referenced above.

The countries covered in the respiratory monitoring systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is dominating the respiratory monitoring systems market due to the increased number of asthma cases and the region's favourable medical schemes and reimbursement policies.

Asia-Pacific expected to contribute highest growth rate due to the increasing geriatric population, rising respiratory disorders and growing demand for respiratory devices. 

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Respiratory Monitoring Systems Market Share Analysis

The respiratory monitoring systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to respiratory monitoring systems market.

Some of the major players operating in the respiratory monitoring systems market are:

• Medtronic (Ireland)
• General Electric (U.S.)
• Masimo (U.S.)
• Koninklijke Philips N.V. (U.S.)
• Welch Allyn, (U.S.)
• Smiths Medical (U.S.)
• MGC Diagnostics Corporation (U.S.)
• Novelda AS (Norway)
• Dragerwerk AG & Co. KGaA (Germany)
• Nihon Kohden Corporation (Japan)
• Chart Industries (U.S.)
• DeVilbiss Healthcare LLC (U.S.)
• Fisher & Paykel Healthcare Limited (New Zealand)
• GSK plc (U.K.)
• ResMed India (U.S.)
• BD (U.S.)
• Hamilton Medical (Switzerland)
• Abbott (U.S.)

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