LONDON--(BUSINESS WIRE)--The global respiratory monitoring devices market is expected to post a CAGR of over 8% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global respiratory monitoring devices market is the increasing prevalence of chronic respiratory diseases. The number of patients suffering from the chronic respiratory disease has increased substantially over the years. They are primarily caused by air pollution, dust, occupational chemicals, and tobacco smoke. Patients who suffer from chronic respiratory diseases such as asthma or chronic obstructive respiratory diseases (COPD) are advised to undergo continuous monitoring. Thus, with the increasing prevalence of respiratory diseases, the demand for respiratory monitoring devices will grow significantly during the forecast period.
This market research report on the global respiratory monitoring devices market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period.
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In this report, Technavio highlights the technological advances in respiratory monitoring devices as one of the key emerging trends in the global respiratory monitoring devices market:
Global respiratory monitoring devices market: Technological advances in respiratory monitoring devices
With continuous innovations in smartphones, cordless devices, wearables, and integrated devices, the end-users are shifting toward technologically advanced products. Companies are constantly focusing on developing technologically advanced products to increase the efficiency and effectiveness of the diagnosis. For instance, Medtronic, developed Capnostream 35, a portable respiratory monitor, which is used to provide continuous measurement of SpO2 (pulse oximeter), EtCO2 (capnography), respiration rate, and pulse rate. The development of technologically advanced respiratory monitoring products will undoubtedly lead to an increase in adoption of these products for an early diagnosis.
“Apart for the technological advances in respiratory monitoring devices, business strategies such as acquisition for products and technology, and distributional partnership are expected to increase the revenue of companies. This will propel the growth of the global respiratory monitoring devices market during the forecast period,” says a senior analyst at Technavio.
Global respiratory monitoring devices market: Segmentation analysis
This market research report segments the global respiratory monitoring devices market by product (pulse oximetry, spirometry, and capnography) and geographical regions (APAC, EMEA, and the Americas).
The Americas region led the market in 2018, followed by EMEA and APAC respectively. Although the APAC region held the smallest share of the market in 2018, it is expected to register the highest incremental growth during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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