Respiratory Monitoring Devices Market Outlook - 2027
Respiratory monitoring is a constituent of polysomnography (PSG), it helps to detect sleep-related breathing disorders related with diurnal movement disorders. Polysomnography (PSG) is help to receive data on respiration and sleeping patterns. Respiratory monitoring device used to ensure airway effectiveness and sufficient gas exchange. Most commonly used device such as “RespiraSense” is a continuous and accurately measures respiratory rate by measuring the Mechanics of Respiration. The main three components for monitoring respiratory rate during sleep such as detection of airflow, detection of respiratory effort, and measurement of arterial oxygen saturation (SaO2). Healthcare industries in the respiratory monitoring devices market are now focusing on developing PSG sensors that provide information to healthcare providers. Signal analysis and machine learning are major factors enhancing the implementation of PSG in the healthcare industry. Various types of respiratory monitoring devices are available in the respiratory monitoring device market such as Pulse Oximeters, Capnography, Spirometers, Polysomnography (Psg), Peak Flow Meters, Gas Analyzers etc., out of this increasing patient demand for peak flow meter and pulse oximeter, both this device majorly drive the market growth globally.
COVID-19 Scenario Analysis:
To take care of infected population the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market.
Ongoing spread of COVID-19 affect positively on healthcare industry. Likewise, it affect the respiratory monitoring system market positively. During this situation healthcare professional use Positive end-expiratory pressure (PEEP), which helps to maximize in lung compliance and reduces in dead space ventilation of coronavirus infected patient. It is the great opportunity to the major market player to come up with the advanced technologies and devices which help in reduce the rate of coronavirus infected people and generate more revenue to boost the market growth.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis:
Asthma is one of the largest contributors in this market, which affecting children, adults, and elderly people which rises the demand for Peak flow meters and now this device is most dominating product segment in the respiratory monitoring market during the forecast period .The home care segment is anticipated to achieve significant respiratory monitoring devices market share, attributed to rising in the number of market players who receiving Food and Drug Administration (FDA) approval for home use respiratory monitoring devices. According to Global Asthma report, in 2018, chronic respiratory diseases affect more than 1 billion people.
Globally North America has dominated the respiratory monitoring market owing to the rising incidence of respiratory disorders. Increasing per capita healthcare expenditure, reduction in the unemployment rate and growing number of smoker’s population. On the other hand Europe, anticipated to the second largest market share due to the increasing geriatric population and rising awareness about advanced therapies amongst the people. Whereas, Asia-Pacific expected to contribute highest growth rate due to the increasing geriatric population, rising respiratory disorders and growing demand for respiratory devices.
The factor such as rising investment in healthcare expenditure, growing expansion of advance technologies, availability of low cost of respiratory monitoring devices, rising geriatric population across the globe, Increasing chronic obstructive pulmonary disease patients (COPD), Asthma, and tuberculosis, high incidence of tobacco smoking and respiratory diseases, are majorly drive the respiratory monitoring device market. The factor that hinder the growth of market such as high cost of COPD treatment and existing technologies. Major opportunities available in the respiratory monitoring device market across the globe such as reduce the cost of product as well as treatment, development of new technologies etc.
New product launches to flourish the market:
Manufacturers have been focusing on producing new products for specific applications as there are varying demands based on the utilization. Leading respiratory monitoring devices market players have determined how improved accuracy can be influential in many applications. The expansion of automated nucleic acid isolation and purification solutions by major market players allows a faster, cleaner, and more consistent nucleic acid extraction process. In 2019, Phillips N.V. has launched new devices such as “noninvasive high frequency chest wall oscillation” (HFCWO), which redefine non-invasive secretion clearance which helps to use in hospital and at home to improve patient lives. This device helps clinicians to use this new tools to enhance therapy efficacy. In 2019, “GE Healthcare” has launched “CARESCAPE Respiratory Modules” and “Airway Gas Option” is a respiratory accessories which is used for monitoring patient and ventilators to measure respiratory gases such as oxygen and carbon dioxide, anesthesia, and breathing characteristics in adults, pediatric, and neonatal patients. In 2019,”Medtronic” has introduce new system such as “NellcorTM” (PM1000N). This system has easy to use and access patient status related to oxygenation and respiration. In 2019,”Medtronic” has introduce new ventilation solution for tiniest of patient such as “Babylog VN500”. In 2019, “Masimo” has launched the “MightSat Rx”. It is a finger pulse oximeter that can be used at home.
Key benefits of the report:
- This study presents the analytical depiction of the global respiratory monitoring devices market industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the respiratory monitoring devices market share.
- The current market is quantitatively analyzed to highlight the global respiratory monitoring devices market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global respiratory monitoring devices market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Respiratory Monitoring Devices Market research report:
- Who are the leading market players active in the respiratory monitoring devices market?
- What are the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that will help in taking further strategic steps?
Respiratory Monitoring Devices Market Report Highlights
By Monitoring device
By End User .
Key Market Players
GE Healthcare, Smiths Medical plc., Medtronic, Masimo, Nihon Kohden Corporation, Welch Allyn, Inc., MGC Diagnostics Corporation, Vyaire Medical Inc., Koninklijke Philips N.V, Drägerwerk AG and Co. KGaA