Respiratory Monitoring Devices Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Respiratory Monitoring Devices Market is segmented By Product (Spirometer, Peak Flow Meters, Sleep Test Devices, Gas Analyzers, Pulse Oximeters, Capnography, Others), By End User (Hospitals, Ambulatory Surgery Centers, Homecare, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East and Africa) – share, size, outlook, and opportunity analysis, 2023-2030.

Respiratory Monitoring Devices Market Size

The Global Respiratory Monitoring Devices Market reached USD 4.6 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 9.3 billion by 2030. The Global Respiratory Monitoring Devices Market is expected to exhibit a CAGR of 9.3% during the forecast period 2023-2030. 

Respiratory monitoring devices diagnose or monitor acute or chronic respiratory problems by determining the lung’s breathing capabilities. Several respiratory examinations are being developed to assess the lung’s effectiveness in exchanging breathing gases and to identify respiratory tract blockages. 

Respiratory monitoring devices are driven by various factors like an increase in government expenditure on health care in emerging economies such as India, a rise in the prevalence of respiratory disorders, product innovations and technological advancements are projected to drive the global respiratory monitoring devices market.

Respiratory Monitoring Devices Market Scope

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Respiratory Monitoring Devices Market Dynamics

Increasing Prevalence  of Respiratory Diseases

The increased prevalence of respiratory disease is a key driver that helps the market grow during the forecast period. For instance, According to the Centres for Disease Control and Prevention, COPD affects an estimated 200 million people, with 3.2 million dying yearly, making it the third-leading cause of mortality globally.

Asthma is one of the most common noncommunicable illnesses, impacting 262 million people worldwide. With almost 2.2 million new instances of lung cancer expected in 2022 and 1.80 million fatalities, lung cancer accounts for one in every four cancer deaths worldwide. Lower respiratory tract infection or pneumonia is a prominent cause of death, accounting for more than 2.4 million fatalities yearly, primarily in low and middle-income countries (LMICs).

Rise in Technological Advancements 

Respiratory improvements in technology in longitudinal epidemiological research, portable electronic spirometers are frequently utilised to measure and track forced expiratory volume in one second (FEV1) and forced vital capacity (FVC).

For instance, in July 2022, Switzerland-based medical technology company Sleepiz enlisted its Sleepiz One+ contactless respiration and heart rate monitoring device with the US Food and Drug Administration (FDA). The FDA listing forms the way for Sleepiz to deliver its solution for remote patient monitoring in the US. Therefore, rise in technological advancements are pushing the global market during the forecast period.

Longer Duration of Approval Process For Respiratory Monitoring Devices 

The longer time required for respiratory device approval limits the growth of the respiratory monitoring devices market. The FDA clearance procedure takes 7 months before new respiratory equipment is released, which adds to the development expenses faced by device producers, limiting market expansion.

Respiratory Monitoring Devices Market Segment Analysis

The Global Respiratory Monitoring Devices Market is segmented based on product, end user and region.

The Spirometer Product Segment Accounted for Approximately 27.9% of the Respiratory Monitoring Devices Market Share

The spirometer product segment is expected to dominate during the forecast period. A spirometer is a device that monitors the amount of air that the lungs take in and exhale. A spirometer measures the flow of air into and out of the lungs. 

The spirogram can detect obstructive and restrictive abnormal ventilation patterns. The category is predicted to expand due to the rising incidence of chronic respiratory disorders such as COPD, asthma, and tuberculosis and technical advancements in spirometers.

For instance, on August 16 2022, AstraZeneca India and Alveofit collaborated to provide IoT-enabled portable spirometers. AstraZeneca India has partnered with Alveofit, a SaaS-IoT (Internet of Things) enabled respiratory healthcare platform, to give the hospitals IoT-enabled portable spirometers.

The cooperation intends to include the most recent technical advances in lung illnesses and related non-communicable diseases such as asthma, pulmonary fibrosis, and chronic obstructive pulmonary disease (COPD).

Source: DataM Intelligence Analysis (2023)

Global Respiratory Monitoring Devices Market Geographical Share

North America Accounted for Approximately 39.5% of the Market Share in 2022, Owing to the Strong Presence of Major Players.

North America is estimated to hold about 39.5% of the total market share throughout the forecast period. Growing respiratory disorders such as breathing issues, an aging population, and new sophisticated products drive the North American market forward. 

The United States is predicted to have North America's greatest revenue market share. Furthermore, chronic respiratory illnesses such as asthma, bronchitis, and pneumonia, as a result of increasing air pollution and lifestyle choices, also lead North America to dominate the region.

Source: DataM Intelligence Analysis (2023)

Respiratory Monitoring Devices Market Companies

The major global players in the respiratory monitoring devices include GE Healthcare, Smith & Nephew, Vyaire (Carefusion Corporation), Masimo Corporation, Medtronic, MGC Diagnostics Corporation, COSMED,  Nihon Kohden Corporation, Philips Healthcare, Novelda AS and others.

COVID-19 Impact on Respiratory Monitoring Devices Market

Russia Ukraine Conflict Analysis

The Russia-Ukraine conflict is estimated to have a moderate impact on the global respiratory monitoring devices, owing to the low prevalence and absence of key market players in this region. However, the impact of the import and export of raw materials is expected to have little influence over the global respiratory monitoring devices market growth over the forecast period.

By Product 

• Spirometer
• Peak Flow Meters 
• Sleep Test Devices
• Gas Analyzers
• Pulse Oximeters
• Capnography
• Others

By End User 

• Hospitals
• Ambulatory Surgery Centers
• Homecare
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In March 2022, Respira Labs, a respiratory healthcare tech business located in the United States, has released sylvee, an AI-powered wearable lung monitor that employs acoustic resonance to measure lung function and identify fluctuations in lung air volume. It can aid in the early detection and treatment of chronic obstructive pulmonary disease (COPD), asthma, and COVID-19. The patch has speakers and microphones that monitor variations in acoustic resonance to serve as a reference for changes in lung air volume during pulmonary function testing.
• In March 2023, Aevice Health announced that Singapore’s health sciences authority had authorized its main medical gadget, a wearable stethoscope, for respiratory health monitoring. The AeviceMD AI-powered wearable stethoscope, worn on the chest, identifies and records strange breath sounds, such as wheezing and vital indicators, such as heart rate and breathing rate. According to a press statement, the monitoring device system is now certified for usage in adults aged three and above and in clinical and residential settings.

Why Purchase the Report?

• To visualize the Global Respiratory Monitoring Devices Market segmentation based on product, end user and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of respiratory monitoring devices market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Respiratory Monitoring Devices  Report Would Provide Approximately 53 Tables, 54 Figures And 195 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies