The global Respiratory Measurement Devices Market was valued at around USD 7.9 Billion at the end of 2021. The market is projected to register a 5.1% CAGR and top a valuation of USD 13.5 Billion by 2032.
Increase in prevalence of sleep apnea, rise in geriatric population and increase in demand for non-invasive painless tests is expected to uplift the respiratory measurement devices market growth.
Respiratory monitoring aids in the detection of sleep disorders associated with a diurnal movement disorder. To obtain information on respiratory and sleeping habits polysomnography (PSG) is used. Spirometers and smart pulse oximeters are types of respiratory monitoring devices that assist in monitoring patients' respiratory conditions.
The treatment of patients with respiratory disorders such as chronic obstructive pulmonary disease (COPD), asthma, and acute respiratory failure depends heavily on respiratory monitoring. Respiratory monitoring plays a crucial role in the management of these patients. It helps the medical professional to reach out concluding decision and choose the method of treatment for the patient.
| Attributes | Details |
|---|---|
| Respiratory Measurement Devices Market Value in 2021 | USD 7.9 Billion |
| Respiratory Measurement Devices Market Value in 2032 | USD 13.5 Billion |
| Respiratory Measurement Devices Market CAGR (2022 to 2032) | 5.1% |
An increase in the prevalence of sleep apnea and respiratory diseases boosted the demand for respiratory monitoring devices. Furthermore, the rising geriatric population propelling the demand of the market. In older populations age causes a person's immune system to deteriorate.
Therefore, the risk of developing diseases in this age group increases due to the surge in the geriatric population. The risk of developing and contracting respiratory diseases increases with the age.
The market for respiratory monitoring devices is constantly developing new products that will be rising monitoring accuracy and enhancing patient comfort. Research and Development on novel systems by key manufacturers have been seen as a lucrative growth opportunity in the forecasted period.
The demand for novel products such as wearables, cordless devices, smartphones, and integrated devices, caused by the rapid advancement of technology is being accepted more quickly, propelling the market's expansion.
In comparison to other regions, North America has the greatest market for respiratory measurement device sales and makes the most contribution. Due to the existence of well-established key players that provide respiratory measurement devices and approval from the Food and Drug Administration (FDA) for the products.
Due to the increased emphasis on respiratory care management in homecare settings, Europe is predicted to have the fastest-growing demand for respiratory measurement devices. Due to the region's increasingly aging population, rising consumer awareness, and growing medical tourism in developing nations like China, South Asia is forecasting strong development for the respiratory monitoring devices market.
Medtronic, Philips Healthcare, Smiths Medical, Drgerwerk AG Co. KGaA, GE Healthcare, Welch Allyn, Inc., Masimo, MGC Diagnostics Corporation, Vyaire Medical, Inc., Nihon Kohden Corporation, Novelda AS, Welch Allyn, Inc., Masimo, Getinge Inc., Resmed, Siemens Healthcare.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.1% 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segment Covered | Product, Indication, End User, Region |
| Region Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East Africa (MEA) |
| Key Countries Profiled | The USA, Canada, Brazil, Mexico, Germany, The UK, France, Spain, Italy, China, Japan, South Korea, Malaysia, Singapore, Australia, New Zealand, GCC, South Africa, Israel |
| Key Players | Medtronic; Philips Healthcare; Smiths Medical; Drgerwerk AG Co. KGaA; GE Healthcare; Welch Allyn, Inc.; Masimo; MGC Diagnostics Corporation; Vyaire Medical, Inc.; Nihon Kohden Corporation; Novelda AS; Welch Allyn, Inc.; Masimo, Getinge Inc.; Resmed; Siemens Healthcare. |
| Customization | Available Upon Request |
The global respiratory measurement devices market is anticipated to register a CAGR of 5.1% during the forecast period.
The top players in the global respiratory measurement devices market are Medtronic, Philips Healthcare, Smiths Medical, Drägerwerk AG & Co. KGaA, GE Healthcare, Welch Allyn, Inc., Masimo, MGC Diagnostics Corporation, Vyaire Medical, Inc., Nihon Kohden Corporation, Novelda AS, Welch Allyn, Inc., Masimo, Getinge Inc, Resmed and Siemens Healthcare.
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Respiratory Measurement Devices Market
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