Respiratory Monitoring Devices Market: Current Analysis and Forecast (2021-2027)
- UnivDatos Market Insight
- August 2021
- 194 pages
Respiratory diseases, such as respiratory infections, asthma, lung cancer, and COPDs are increasing at an alarming rate and are the leading cause of death all around the globe. Hence, the manufacturers operating in the market are innovating in wearable strain sensors for effective management of chronic respiratory diseases (CRDs). Increasing efforts to introduce wearable sensors capable of providing measurements on respiration rate as well as volume with high fidelity are further boosting the demand for respiratory monitoring devices. To offer more convenience to patients, manufacturers are increasing their production capabilities of disposable wearable sensors.
Chronic respiratory diseases affect more than 1 billion people, globally, as per the Global Asthma report, 2018. Asthma is one of the largest contributors to this figure, affecting children, adults, and elderly people. There is a high prevalence of severe asthma in the emerging markets, such as MEA and Latin America, as compared to the mid-range prevalence in North America, Europe, and Asia-Pacific countries, which is augmenting the demand for early diagnosis, thereby increasing the sales of respiratory monitoring devices.
Based on product the global Respiratory Monitoring Devices market is segmented into Pulse Oximeters, Capnographs, Spirometers, Polysomnographs, Peak Flow Meters, Gas Analyzers, and Others. Currently, pulse oximeters segment is expected to dominate the market by holding largest market share during the forecast period. Continuous technological advancements coupled with availability of cost-effective pulse oximeters are certain factors contributing to the growth of this segment.
Based on end-user the market is categorized into Home Care, Hospitals, Ambulatory Surgical Centers, and Specialty Clinics. Currently hospital segment dominates the market and is expected to maintain its dominance during the analyzed period. This supremacy is ascribed to growing public-private partnerships to improve access to healthcare services along with rapid developments in healthcare infrastructure in hospitals.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, United Kingdom, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of APAC), and Rest of World. North America has dominated the respiratory monitoring market which is attributable to the surging prevalence of respiratory diseases, rise in per capita health expenditure in the region and increasing number of smokers population. On the other hand, Europe region is anticipated to hold the second largest market share due to the increasing geriatric population and rising awareness about advanced therapies amongst the people.
Some of the major players operating in the market include Medtronic, Philips Healthcare (Koninklijke Philips N.V.), Dragerwerk AG & Co. KGaA, GE Healthcare, Smiths Medical, Masimo, Resmed, Siemens Healthcare, Hamilton Medical and Vyaire Medical Inc.
Global Respiratory Monitoring Devices Market was valued at US$ XX billion in 2020 and is anticipated to reach US$ XX billion by 2027 displaying an elevated CAGR of XX% over the forecast period (2021-2027). Respiratory diseases, such as respiratory infections, asthma, lung cancer, and COPDs are increasing at an alarming rate and are the leading cause of death all around the globe. Hence, the manufacturers operating in the market are innovating in wearable strain sensors for effective management of chronic respiratory diseases (CRDs). Increasing efforts to introduce wearable sensors capable of providing measurements on respiration rate as well as volume with high fidelity are further boosting the demand for respiratory monitoring devices. To offer more convenience to patients, manufacturers are increasing their production capabilities of disposable wearable sensors.
Respiratory Monitoring Devices are mainly developed for the supervision and counseling of patients dealing with respiratory disorders. These devices offer various advantages such as adherence trackers, dose reminders, and monitoring of various diseases such as asthma, clinically isolated syndrome, Chronic Obstructive Pulmonary Disease (COPD), diabetes, and hypertension. Moreover, the sensors incorporated in the delivery devices help to monitor the side effects and evaluation of the effect of change in dose. The adherence trackers help to check whether the patients are taking the required dose at right time or not, whereas the apps associated with the connected delivery devices help to record the effect of treatment, the safety of dose, and tolerability.
The Respiratory Monitoring Devices market is growing exponentially on account of increasing penetration of the Internet of Things (IoT) in monitoring devices, increasing focus on patient compliance, quality of healthcare, rising awareness of costs, increasing use of self-administered drugs, rising healthcare programs, and initiatives to spread the connected drug delivery devices awareness. For example, Propeller Health company has conducted around 60 connected medical programs to spread awareness of connected drug delivery devices. The company provides add-on devices for inhalers that are synchronized with the patient’s software for the analysis of symptoms and diseases.
Medtronic, Philips Healthcare (Koninklijke Philips N.V.), Dragerwerk AG & Co. KGaA, GE Healthcare, Smiths Medical, Masimo, Resmed, Siemens Healthcare, Hamilton Medical and Vyaire Medical Inc. are some of the prominent players operating in the global Respiratory Monitoring Devices market. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced Respiratory Monitoring Devices products.
Insights Presented in the Report
“Amongst product, pulse oximeters segment holds the major share”
Based on products, the market is fragmented into pulse oximeters, capnographs, spirometers, polysomnographs, peak flow meters, gas analyzers, and others. The pulse oximeters segment generated revenue of USD XX million in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F. The dominance of this segment can be attributed to high use of pulse oximeter for anesthesia during surgery, advancements in artificial intelligence, increase in mobile-based platforms, growing use of wearable devices, advancements in the microprocessor technology along with continuous innovations in the photoelectric sensors. Moreover, the wide application of the product in various diseases such as cardiovascular disease, sickle cell anemia, and other chronic respiratory diseases also propels the market growth. For instance, in January 2020, WHO declared the novel coronavirus outbreak a public health emergency of international concern (PHEIC), which led to the high demand for pulse oximeters.
“Amongst end-user, the hospitals segment holds the major share”
Based on end-users, the market is fragmented into home care, hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment generated revenue of USD XX million in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F owing to high use and adoption of the respiratory monitoring devices. Today, the COVID-19 pandemic has led to the high demand for oxygen administration as supportive management. As per the Pan American Health Organization, 75% of all hospitalized patients require supplemental oxygen treatment.
“North America signifies one of the largest markets of Respiratory Monitoring Devices Market”
For a better understanding of the market dynamics of the Respiratory Monitoring Devices market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX million in 2020 owing to period owing to surging prevalence of respiratory diseases and rise in per capita health expenditure in the region. At the same time, Asia-Pacific is anticipated to grow at the highest CAGR of XX% during the forecast period.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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- Philips Healthcare (Koninklijke Philips N.V.)
- Dragerwerk AG & Co. KGaA
- GE Healthcare
- Smiths Medical
- Siemens Healthcare
- Hamilton Medical
- Vyaire Medical Inc.
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Table of Content
1 MARKET INTRODUCTION
1.1 Market Definitions
1.3 Stake Holders
1.4 Currency Used in Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Research Methodology for the Global Respiratory Monitoring Devices Market
2.1.1 Main Objective of the Global Global Respiratory Monitoring Devices Market
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 GLOBAL RESPIRATORY MONITORING DEVICES MARKET AMID COVID-19
6 GLOBAL RESPIRATORY MONITORING DEVICES MARKET REVENUE (USD BN), 2019-2027F
7 MARKET INSIGHTS BY PRODUCT
7.1 Pulse Oximeters
7.5 Peak Flow Meters
7.6 Gas Analyzers
8 MARKET INSIGHTS BY END-USERS
8.2 Home Care
8.3 Ambulatory Surgical Centres
8.4 Specialty Clinics
9 MARKET INSIGHTS BY REGION
9.1 NORTH AMERICA RESPIRATORY MONITORING DEVICES MARKET
9.1.1 United States
9.1.3 Rest of North America
9.2 EUROPE RESPIRATORY MONITORING DEVICES MARKET
9.2.3 United Kingdom
9.2.6 Rest of Europe
9.3 ASIA PACIFIC RESPIRATORY MONITORING DEVICES MARKET
9.3.4 South Korea
9.3.5 Rest of Asia Pacific
9.4 REST OF THE WORLD RESPIRATORY MONITORING DEVICES MARKET
10 RESPIRATORY MONITORING DEVICES MARKET DYNAMICS
10.1 Market Drivers
10.2 Market Challenges
10.3 Impact Analysis
11 RESPIRATORY MONITORING DEVICES MARKET OPPORTUNITIES
12 RESPIRATORY MONITORING DEVICES MARKET TRENDS & INSIGHTS
13 LEGAL & REGULATORY FRAMEWORK
14 DEMAND AND SUPPLY SIDE ANALYSIS
14.1 Demand Side Analysis
14.2 Supply Side Analysis
14.2.1 Top Product Launches
14.2.2 Top Business Partnerships
14.2.3 Top Business Expansions, Investments and Divestitures
14.2.4 Top Merger & Acquisitions
15 VALUE CHAIN ANALYSIS
16 COMPETITIVE SCENARIO
16.1 Porter’s Five forces analysis
16.1.1 Bargaining power of Supplier
16.1.2 Bargaining power of Buyer
16.1.3 Industry Rivalry
16.1.4 Availability of Substitute
16.1.5 Threat of new Entrants
16.2 Competitive Landscape
16.2.1 Company Shares, By Revenue
17 COMPANY PROFILED
17.2 Philips Healthcare (Koninklijke Philips N.V.)
17.3 Dragerwerk AG & Co. KGaA
17.4 GE Healthcare
17.5 Smiths Medical
17.8 Siemens Healthcare
17.9 Hamilton Medical
17.10 Vyaire Medical Inc.
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