세계의 호흡 모니터링 기기 시장(2023-2030년)
Global Respiratory Monitoring Devices Market - 2023-2030
세계의 호흡 모니터링 기기 시장 규모는 예측기간(2023-2030년)에 CAGR 9.3%로 성장할 것으로 예측됩니다.
The global respiratory monitoring devices market size was valued at US$ YY million in 2022 and is estimated to reach US$ YY million by 2030, growing at a CAGR of 9.3% during the forecast period (2023-2030).
Respiratory monitoring devices are employed to diagnose or monitor acute or chronic respiratory disorders by specifying the respiratory capacities of the lungs. Several respiratory tests are being developed to monitor the efficiency of the lungs in exchanging respiratory gases and identify obstructions in the respiratory tract.
The growing air pollution, cases of respiratory disorders, geriatric population, and market developments promote the global respiratory monitoring devices market.
The increasing cases of respiratory diseases and market developments are anticipated to propel the respiratory monitoring devices market growth.
The rising air pollution and bad lifestyle choices are inducing an advancement in global respiratory cases, expanding the growth of respiratory monitoring devices. For instance, the United Nations Environment Program reports that air pollution is the most powerful global environmental threat to public fitness, accounting for an estimated 7 million early deaths annually. Moreover, according to the WHO, tobacco consumption leads to over 8 million deaths yearly, of which 7 million are from active usage and about 1.2 million are from passive smoke.
Also, the market events are propelling the global respiratory monitoring devices market growth. For instance, in July 2022, Switzerland-based medical technology company Sleepiz enlisted its Sleepiz One + contactless respiration and heart rate monitoring device with the US Food and Drug Administration (FDA). The FDA listing forms the way for Sleepiz to deliver its solution for remote patient monitoring in the US. Therefore, the above data indicate that the rising cases of respiratory disorders and product launches are pushing the global respiratory monitoring devices market during the forecast period.
The high cost is expected to hinder global respiratory monitoring devices market growth.
However, the high cost of respiratory monitoring devices hinders the growth of global respiratory monitoring devices in the forecast period. For instance, the average price of a spirometer ranges from $900-$3000. Nevertheless, there is an extensive deviation in price based on the type of spirometer.
COVID-19 has greatly impacted the global respiratory monitoring devices market as coronavirus disease (COVID-19), infection of the SARS-CoV-2 virus predominantly to the lungs. A large number of the infected individuals encountered temperate to moderate respiratory trouble. Since a large population across the globe was infected with COVID-19, this led to overall elevated sales of respiratory monitoring devices such as spirometers, oximeters, peak flow meters, Etc. Furthermore, COVID-19 encouraged new developments and innovations in respiratory monitoring devices, positively influencing the global Respiratory Monitoring Devices market.
The spirometer segment is expected to grow at the fastest CAGR during the forecast period (2022-2029).
Spirometers are estimated to grow at a high CAGR throughout the forecast period (2022-2029). A spirometer is a device for estimating air volume inspired and exhaled by the lungs. A spirometer estimates ventilation, the motion of air into and out of the lungs. The spirogram obtained from the spirometer will determine the presence or absence of two abnormal ventilation patterns, obstructive and restrictive. The new product launches are expected to boost the growth of the spirometer segment in the forecast period. For instance, in March 2020, the FDA issued an Umbrella Emergency Use Authorization in response to the insufficient reserve and availability of FDA-approved spirometers for use in healthcare settings in treating patients during the COVID-19 pandemic.
Moreover, in March 2021, Vyaire Medical introduced its inventive remote Aiocare mobile spirometer in the UK. Also, in August 2022, AstraZeneca India formed a partnership with Alveofit to offer IoT-enabled handheld spirometers at hospitals around the country. Likewise, in November 2021, Cipla Limited launched its Spirofy, one of the first pneumotach-based portable, wireless spirometers in India, on the day of world pulmonary diseases. Thus, the earlier data indicates that ventilators and resuscitators are expected to dominate the global respiratory device market during the forecast period (2022-2029).
The North American region holds the largest market share of the global respiratory monitoring devices market.
North America holds most of the global respiratory monitoring devices market share. It is anticipated to dominate during the forecasted period (2022-2029). The American population is at a rising threat of respiratory conditions because of growing air pollution and lifestyle choices. For instance, according to the USEPA, roughly 67 million tons of pollution were ejected into the United States in 2021. Moreover, the American Lung Association State of the Air 2022 report reveals that despite decades of progress in cleansing up the air pollution sources, above 40% of Americans, i.e., 137 million, are living in zones with growing rates of harmful particle pollution which has increased by 2.1 million American than the last year's reported number. Additionally, the rising tobacco use in America ensures this region's dominance over the global market. According to the CDC, an assessed 12.5% of U.S. adults smoked cigarettes in 2020, and as to the National Youth Tobacco Survey (NYTS) by the FDA and CDC, across 2.5 million U.S. middle and high school students presently used e-cigarettes in 2022.
Similarly, the market developments by North America-based key players assure this region's dominance over the global respiratory monitoring device market. For example, in January 2020, Masimo Corporation obtained NantHealth, Inc. In May 2021, Vyaire Medical cooperated with GenWorks, a healthcare solutions provider in 140 locations in India. Thus, with the data mentioned above, it is indicated that North America will dominate the global respiratory monitoring device market in the projected period.
The essential players functioning in the global respiratory monitoring devices market are GE Healthcare, Smith & Nephew, Vyaire (Carefusion Corporation), Masimo Corporation, Medtronic plc, MGC Diagnostics Corporation, COSMED, Nihon Kohden Corporation, Philips Healthcare and many more. The key players are embracing various approaches such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the Respiratory Monitoring Devices market growth. For instance, In March 2020, Medtronic announced the expansion of remote respiratory monitoring solutions to fight against COVID-19.
Medtronic plc is Ireland based American medical device company. Medtronic was founded in 1949 and is headquartered in Minneapolis, Minnesota, United States. Medtronic deals with four different businesses: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.
Medtronic plc's product portfolio for respiratory monitoring devices has Nellcor pulse oximetry: The Nellcor pulse oximetry system with OxiMax technology establishes a new milestone in patient safety monitoring that can impact clinical settings from everyday to the extraordinary.
The global respiratory monitoring devices market report would provide access to approximately 40 + market data tables, 45 + figures, and in the range of 200 (approximate) pages.
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