According to a new market report
published by Transparency Market Research “Respiratory
Monitoring Devices Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2015 - 2023”, the global respiratory monitoring devices
market was valued at US$1.4 bn in 2014 and is projected to reach US$2.8 bn by
2023 at a CAGR of 8.2% from 2015 to 2023.
Respiratory disease monitoring
devices diagnose chronic or acute respiratory disorders. The diagnosis of
respiratory function is done either by understanding the anatomy of respiratory
organs, or by determining the respiratory capabilities of the lungs. A majority
of respiratory tests are designed either to identify obstructions in the
respiratory tract, or to observe the efficiency of the lungs in exchanging
respiratory gases. Equipment used to detect pulmonary abnormalities hold
immense potential due to increasing prevalence of various respiratory diseases
such as asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis,
and pneumonia.
The pulse oximeter segment
dominated the global respiratory monitoring devices market, accounting for a
share of 32.5% in 2014 as these devices are mostly utilized in physician
offices and clinical laboratories to provide more accurate and effective diagnostic
results. The pulse oximeter segment is also expected to register the fastest
growth during the forecast period due to accurate display of results in a
shorter span of time.
Respiratory monitoring devices
are used by various end-users including hospitals, laboratories, and home use.
The hospitals end-user segment held the largest market share of 64.0% in 2014
owing to increasing incidence as well as admission of a number of chronic
respiratory disease cases including COPD, asthma, and cystic fibrosis. The
segment is also projected to expand at the fastest CAGR during the forecast
period. The major factor driving the hospitals end-user segment is that most of
the respiratory monitoring devices for lung function tests are available in
hospitals. Furthermore, continuous rise in the incidence of respiratory
disorders is also expected to boost the growth of the hospitals segment during
the forecast period from 2015 to 2023.
Geographically, North America
dominated the global respiratory monitoring devices market in 2014, accounting
for a share of 36.3% due to factors such as increasing prevalence of
life-threatening respiratory diseases and better health care infrastructure.
Furthermore, technological developments in the field of medical devices and
increasing awareness among the population regarding respiratory monitoring are
boosting the growth of the respiratory monitoring devices market in North
America. However, Asia Pacific is projected to witness the highest growth rate
during the forecast period. The rationale behind such high growth is the large
population base, initiatives taken by the government to promote health care,
and robust economic growth. Moreover, improving consumer awareness regarding
heath issues and better disease management are anticipated to drive the
respiratory monitoring devices market in the next few years.
Request A Sample
Of This Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1415
CareFusion
Corporation dominated the global respiratory monitoring devices market in 2014.
Major factors attributed to its dominance are broad product portfolio and
widespread market presence. Other players in the global respiratory monitoring
devices market include Smiths Medical, ResMed, Inc., Masimo Corporation,
COSMED, GE Healthcare, MGC Diagnostic Corporation, and ndd Medical
Technologies, Inc.
The global respiratory
monitoring devices market has been segmented as given below:
Global
Respiratory Monitoring Devices Market, by Product
·
Spirometers
·
Peak
Flow Meters
·
Pulse
Oximeters
·
Capnographs
Global
Respiratory Monitoring Devices Market, by End-user
·
Hospitals
·
Laboratories
·
Home
Use
Global
Respiratory Monitoring Devices Market, by Geography
·
North
America
o U.S.
o Canada
·
Europe
o Germany
o Europe
o Rest of Europe
·
Asia
Pacific
o Japan
o Australia
o Rest of Asia Pacific
·
Latin
America
o Brazil
o Mexico
o Rest of Latin America
·
Middle
East & Africa
o Saudi Arabia
o South Africa
·
Rest
of Middle East & Africa
About Us
Transparency
Market Research (TMR) is a global market intelligence company providing
business information reports and services. The company’s exclusive blend of
quantitative forecasting and trend analysis provides forward-looking insight
for thousands of decision makers. TMR’s experienced team of analysts,
researchers, and consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data
repository is continuously updated and revised by a team of research experts so
that it always reflects the latest trends and information. With extensive
research and analysis capabilities, Transparency Market Research employs
rigorous primary and secondary research techniques to develop distinctive data
sets and research material for business reports.
Contact
us:
Mr. Sudip S
Transparency Market Research
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email:Â sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com/