Major players in the respiratory monitoring devices market are Covidien, GE Healthcare, Philips Healthcare, ResMed, Siemens Healthcare, Merck & Co. , Calando Pharmaceuticals, Quark Pharmaceuticals, Sirnaomics Inc.
New York, June 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Respiratory Monitoring Devices Global Market Report 2021: COVID-19 Implications And Growth To 2030" - https://www.reportlinker.com/p06097011/?utm_source=GNW
, and Traversa Therapeutics.
The global respiratory monitoring devices market is expected to decline from $1.86 billion in 2020 to $1.72 billion in 2021 at a compound annual growth rate (CAGR) of -7.5%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $2.32 billion in 2025 at a CAGR of 7.8%.
The respiratory monitoring devices market consists of sales of respiratory monitoring devices used to monitor respiration related parameters that aid the detection of acute or chronic respiratory disorders. The respiratory monitoring devices establishments are primarily engaged in the manufacturing of capnographs, gas analyzers, pulse oximeters, peak flow meters, spirometers, and polysomnography.
The market covered in this report is segmented by type into capnographs, gas analyzers, pulse oximeters, peak flow meters, spirometers, polysomnographs, others; by end-user into laboratories, hospitals, home use; by application into chronic obstructive pulmonary disease (COPD), infectious diseases, asthma, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market for respiratory monitoring devices is experiencing an exponential growth due to the COVID-19 pandemic. The fact that COVID-19 is essentially a respiratory ailment has boosted the use of respiratory monitoring devices, to monitor the physiological functions of lungs during COVID-19 treatment.
Longer duration of time taken in the approval process of respiratory devices is restricting the growth of respiratory monitoring devices market. Before a new respiratory device is introduced to the market, it takes 7.2 months for the FDA approval process, which adds to the development costs to be borne by device manufacturers, thus acting as a restraint to the market growth. To reduce incidences associated with the respiratory devices and ensure that the devices are safe and have least adverse reactions, regulatory authorities such as Medicines and Healthcare products Regulatory Agency (MRHA) in the UK regulates and monitors the devices by restricting devices for use and sending field safety notices to correct the devices. These stringent approval processes and regulatory policies may impact the respiratory monitoring devices market.
In May 2019, Apple, a USA based technology company acquired Tueo Health for an undisclosed amount.This acquisition serves to bolster the Apple intellectual property in the healthcare space as it continues to roll more health-oriented features in its hardware products.
Tueo Health, a small Redwood City based start-up focused on monitoring asthma in sleeping pediatric patients.
Rising rate of chronic respiratory diseases is expected to drive the respiratory monitoring devices market in near future.The chronic respiratory diseases such as asthma, bronchitis, pneumonia and others resulting from different bacterial and viral infections will boost the demand of respiratory monitoring devices.
For example, in 2019, 334 million people worldwide suffered with asthma and 65 million suffered with chronic obstructive pulmonary disease (COPD). The respiratory monitoring devices such as spirometers and pulse oximeters act as essential devices to monitor vital respiratory parameters.
The companies in the market are increasingly launching smart respiratory monitoring devices to diagnose and monitor number of respiratory diseases.These smart respiratory monitoring devices are Bluetooth-enabled which can be connected to smartphones to continuously monitor the vital respiratory parameters.
For instance, in November 2019, Lupin Limited, India-based pharmaceutical company, introduced Adhero, a new connected smart device for metered-dose medications. This first-of-its-kind technology is intended to help people with chronic respiratory illnesses monitor their use of MDI and to promote enhanced therapy adherence.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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