(MENAFN- America News Hour) Respiratory diseases are one of the world's biggest health concerns, causing one-sixth of all deaths worldwide. It is observed that more than 35 million people suffer from some form of the respiratory disorder, and one in six deaths is caused by some kind of chronic lung disease in the US alone. Some of the chronic respiratory diseases are acute respiratory distress syndrome, asthma, chronic obstructive pulmonary disease, cystic fibrosis, pulmonary fibrosis, pneumonia, respiratory failure, sleep apnea, lung cancer, tuberculosis, and other respiratory diseases. Respiratory disease monitoring devices diagnose acute or chronic respiratory disorders by determining the respiratory capabilities of the lungs. A number of respiratory tests are designed to observe the efficiency of the lungs in exchanging respiratory gases and identify obstructions in the respiratory tract.
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End-user/Technology
The top users of this technology are mostly from Healthcare institutions (hospitals, medical schools, group practices, individual surgeons, and governing bodies), diagnostic centers & research institutes.
Market Dynamics
Global Respiratory Monitoring Market is expected to grow at a CAGR of 8.1% for the next decade. The critical opportunity witnessed in the global market is huge growth potential in emerging economies. Be that as it may, the low reception rate of costly respiratory diagnosis devices and absence of mindfulness are required to hamper the development of the worldwide market to some degree. Among the distinctive end client of respiratory symptomatic and checking gadget, the home care market would witness the speediest development amid the conjecture time frame. Developing geriatric populace and expanding interest for in-home care are the essential variables driving the growth of the respiratory diagnosis and checking gadget in-home care advertise.
Market Segmentation
Global Respiratory Monitoring Market can be segmented by technology, i.e., spirometry, plethysmography, IOS/FOT. By End-user like, hospitals, laboratories & home Use and further by geography which are North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
Regional/Geographic Analysis
Geographically, the global nuclear imaging market is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East and Africa. North America was the leading region in the market and accounted for a share of 36.3% in the overall market. The rapid growth of the market in North America can be attributed to the presence of robust healthcare infrastructure and the growing prevalence of life-threatening respiratory diseases.
The increasing awareness about respiratory monitoring and technological advancements have further fuelled the growth of the market in the region. However, during the period between 2015 and 2023, Asia Pacific is anticipated to register the highest growth rate in the market due to various initiatives were taken by governments, large population base, and positive economic growth. Better disease management and improving consumer awareness about respiratory diseases is expected to drive the Asia Pacific respiratory monitoring devices market.
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Opportunities
Factors such as highly accurate, rapid, and effective results produced by the device fuel the growth of the segment.Again, aging population, the prevalence of COPD, globally, rise in the number of Smokers, development of advanced technology and rise in healthcare expenditure in emerging countries.
Key Players
Some of the key players in the market are Masimo Corporation, COSMED, CareFusion Corporation, Medtronic plc, GE Healthcare, ndd Medical Technologies Inc., MGC Diagnostics Corporation, Philips Healthcare, Smiths Medical, Nihon Kohden Corporation and CareFusion Corporation.
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