Respiratory Monitoring Devices Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

Respiratory Monitoring Devices Market size is expected to be worth around US$ 8.9 by 2028.

Respiratory monitoring plays a significant role in the management of patients with respiratory diseases, such as acute respiratory failure, chronic obstructive pulmonary disease (COPD), and asthma, among other diseases. There are a number of technologically advanced respiratory monitoring devices available in the market for personal use, intensive care, and inpatient settings.

Increase in the prevalence of respiratory diseases, such as asthma, cystic fibrosis, and COPD, and rising geriatric population are major factors that are anticipated to drive the global respiratory monitoring devices market during the forecast period.

North America held a leading share of the global respiratory monitoring devices market in 2020 due to the increase in the number of asthma cases and favorable medical schemes and reimbursement policies.

The respiratory monitoring devices market in Asia Pacific is expected to expand at a high CAGR of 7.1% from 2021 to 2028 due to the growing healthcare expenditure, increasing prevalence of respiratory disorders, and improving healthcare infrastructure.

Rise in Prevalence Rate of Respiratory Diseases to Drive Respiratory Monitoring Devices Market

  • Rise in prevalence rate of respiratory diseases worldwide is projected to drive the global respiratory monitoring devices market during the forecast period
  • Approximately 50% of Latin American countries reported that around 15% of the population suffered from childhood asthma, revealed by Forno and Colleagues in the journal Thorax published in December 2016
  • According to the WHO, in 2015, globally, there were 100 million people affected with chronic respiratory diseases with sleep apnea being the most common problem

Increase in Use of Pulse Oximeters in Clinics and Laboratories

  • In terms of product, the global respiratory monitoring devices market has been segmented into pulse oximeters, capnographs, spirometers, polysomnographs (PSG), peak flow meters, gas analyzers, and others. The pulse oximeter segment accounted for a major market share in 2019.
  • Technological advancements related to respiratory monitoring equipment and high utilization of pulse oximeters in clinics and laboratories are various factors that are likely to drive the pulse oximeters segment during the forecast period
  • Rise in demand for non-invasive respiratory monitors is expected to accelerate the growth of the global respiratory monitoring devices market
  • In November 2015, Montefiore Medical Center developed a non-invasive pulseless oximeter, which measures arterial oxygenation in patients with weak pulse

Hospitals to be Major End User of Respiratory Monitoring Devices

  • Based on end user, the global respiratory monitoring devices market has been categorized into home care, hospitals, ambulatory surgical centers, and specialty clinics
  • The home care segment is likely to gain significant market share by 2028. Growth of this segment can be attributed to the increase in the adoption of respiratory monitoring devices for home use, rise in the number of market players launching portable devices, and growing demand for home use spirometers and peak flow meters.

North America to Lead Respiratory Monitoring Devices Market

  • In terms of region, the global respiratory monitoring devices market has been divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to account for a leading share of the global respiratory monitoring devices market during the forecast period, owing to the increase in the number of market players receiving FDA approval, new product launches, and significant growth of diagnostic medical devices market.
  • In January 2019, Masimo received the FDA approval for MightSat Rx finger pulse oximeter that can be used at home, thereby expanding its share of the respiratory monitoring devices market
  • In June 2015, Cohero Health received the FDA approval for mobile connected spirometer, a Bluetooth-connected device the measures critical lung function

Growth Strategies of Key Players

  • Key players operating in the global respiratory monitoring devices market are Medtronic, Philips Healthcare (Koninklijke Philips N.V.), Smiths Medical (part of Smiths Group plc), Drägerwerk AG & Co. KGaA, GE Healthcare (part of General Electric Company), Welch Allyn, Inc. (Hill-Rom Holdings, Inc.), Masimo, MGC Diagnostics Corporation, Vyaire Medical Inc. (Becton, Dickinson and Company and Apax Partners’ Joint Venture), Nihon Kohden Corporation, and Novelda AS
  • Launch of products for home use and increase in research and development activities by prominent players are major strategies adopted by companies operating in the respiratory monitoring devices market

Polysomnography Devices Help in Assessing Sleep-related Breathing Events to Validate New Algorithms

Polysomnography (PSG) is considered as the gold standard to receive data on respiration and sleep patterns. Companies in the respiratory monitoring devices market are increasing their efforts to develop PSG sensors that provide a wealth of information to healthcare providers. Though methods of automatic analysis are available in the healthcare industry, skilled technicians typically opt for PSG. Signal analysis and machine learning are key factors boosting the adoption of PSG in the healthcare industry. Manufacturers are increasing their research efforts in the two domains to help healthcare providers capture complex information and patterns of patients.

Moreover, new parameters for diagnosis and symptom severity are fueling the adoption of signal analysis and machine learning to enhance the outcomes via PSG. Companies in the respiratory monitoring devices market are introducing the technology of automatic detection in PSG to assess sleep-related breathing events of patients. They are making available conventional PSG sensors and new devices to identify pathological phenomena of sleep-related breathing events. Manufacturers are taking the help of well-characterized datasets to validate new algorithms related to respiratory diseases.

Miniaturized Capnometers Enable CO2 Measurement in Home Care Settings

The revenue of capnographs is not as significant as other products in the respiratory monitoring devices market, but innovations in capnometers are triggering segment growth. For instance, product and design development consultancy, Wideblue, revealed their new personal capnometer device for Cambridge Respiratory Innovations Limited (CRiL), a respiratory solutions company.

Companies in the respiratory monitoring devices market are focusing on providing convenience of patients by increasing offerings in portable battery-powered capnometers to measure CO2. Since traditional capnometers in hospitals are bulky bedside machines, manufacturers are innovating in miniaturized capnometers that can be used as a patient’s personal respiratory monitor. As such, both hospital and home care end user segments of the in the respiratory monitoring devices market are projected for exponential growth. Hence, the introduction of personal capnometers can create incremental opportunities for manufacturers, as this novel device can be used at home.

Mobile Technology Drives Adoption of Pulse Oximeters

Pulse oximetry is a non-invasive method for monitoring respiratory conditions and heart rate. Hence, manufacturers in the respiratory monitoring devices market are increasing their production capabilities to develop advanced pulse oximeters. As such, the pulse oximeters product segment of the respiratory monitoring devices market is estimated to reach a value of ~US$ 3.4 Bn by 2027. However, lack of training and resources has slowed down the adoption of pulse oximeters, especially in developing countries. Lack of training for healthcare professionals has led to increased death rates from anesthesia. Hence, manufacturers in the respiratory monitoring devices space are combining the technology of smartphones with pulse oximeters.

By aligning mobile phones with pulse oximeters, non-specialist healthcare workers can prevent and reduce death rates of patients suffering from airway and respiratory problems. This trend in the respiratory monitoring devices market has increased the use of pulse oximeters in hospitals and home care settings. Companies are innovating in the computing power of mobile phones and its other peripheral resources to offer low-cost standalone devices to users.

Market Segmentation

Respiratory Monitoring Devices Market, by Product

  • Pulse Oximeters
  • Capnographs
  • Spirometers
  • Polysomnographs (PSG)
  • Peak Flow Meters
  • Gas Analyzers
  • Others

Respiratory Monitoring Devices Market, by End User

  • Home care
  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics 

Respiratory Monitoring Devices Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

The Respiratory monitoring devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Respiratory monitoring devices market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Respiratory monitoring devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Respiratory monitoring devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Respiratory monitoring devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Respiratory monitoring devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Respiratory monitoring devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Respiratory monitoring devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Respiratory monitoring devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Respiratory monitoring devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Respiratory monitoring devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Respiratory monitoring devices 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 devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Respiratory monitoring devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Respiratory monitoring devices market. These factors have benefited the growth of the global market for Respiratory monitoring devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Respiratory monitoring devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Respiratory monitoring devices are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

Featured Research Reports

  • Featured Research Reports

    Hepatitis Therapeutics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    Procedure Trays Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    Life Science Analytics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    Drug Device Combination Products Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

    Read more...
  • Featured Research Reports

    MicroRNA Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

    Read more...