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What is the Projected Compound Annual Growth Rate (CAGR) of the Respiratory Monitoring Devices Market from 2025 to 2034, and What Factors Influence It?

In recent times, the market for respiratory monitoring devices has seen significant expansion. Projections show it scaling from $1.67 billion in 2024 to $1.87 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.8%. Factors contributing to this growth during the historic period include the prevalence of respiratory ailments, an aging demographic, technological progression, and the application in hospital and homecare environments.

The market size for respiratory monitoring devices is predicted to experience swift expansion in the coming years, with an estimated value of $2.78 billion in 2029, growing at a compound annual growth rate (CAGR) of 10.4%. The expected growth during the forecast period can be linked to increased awareness of respiratory health, prevalence of chronic diseases, implementation of remote patient monitoring, and the adoption of wearable technology. Key trends in the forecast period encapsulate remote monitoring and telehealth, integration of connected devices and Internet of Things (IoT), application of data analytics and artificial intelligence, as well as the use of mobile applications and wearable devices.

What Drivers Are Shaping the Growth of the Respiratory Monitoring Devices Market?

The anticipated increase in chronic respiratory diseases is likely to fuel the expansion of the respiratory monitoring devices market in the foreseeable future. Diseases like asthma, bronchitis, pneumonia, and others caused by various bacterial and viral infections are expected to escalate the need for respiratory monitoring devices. For example, The Australian Institute of Health and Welfare, a national agency based in Australia, reported in June 2023 that nearly a third (30%), or 7.5 million Australians, have been diagnosed with chronic respiratory diseases. Respiratory monitoring devices such as spirometers and pulse oximeters are crucial in monitoring important respiratory parameters.

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Who Are the Leading Players Fueling Growth in the Respiratory Monitoring Devices Market?

Major companies operating in the respiratory monitoring devices market include Covidien LLC, GE Healthcare Inc., Philips Healthcare, ResMed Corp., Siemens Healthcare GmbH, Merck & Co. Inc., Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Sirnaomics Inc., Traversa Therapeutics Inc., CareFusion Corporation, Smiths Medical ASD Inc., Masimo Corporation, COSMED S.r.l., IITC Life Science Inc., Micro Idea Instruments Co. Ltd., OES Medical Ltd., Pulmonx Corporation, RWD Life Science Co. Ltd., Scientific Respiratory Equipment Inc., AirSep Corporation, Medtronic plc, Drägerwerk AG & Co. KGaA, Hamilton Medical India Pvt. Ltd., Getinge AB, Respiratory Motion Inc., Genstar Technologies Co. Inc., Avery Biomedical Devices Inc., Dynarex Corporation, Quality Medical Group Ltd.

What Are the Latest Trends Leading to Disruption in the Respiratory Monitoring Devices Market?

An increasing trend in the market is the launch of intelligent respiratory surveillance equipment by companies, with the aim of diagnosing and tracking various respiratory illnesses. These advanced respiratory monitoring devices can be synced with smartphones via Bluetooth, ensuring uninterrupted tracking of crucial respiratory parameters. One such example is the HeroTracker® Sense, introduced by Aptar Pharma, a US-based drug delivery systems company, in February 2022. This innovative digital solution for respiratory health transforms a conventional metered dose inhaler into an intelligent, connected healthcare device. It proves beneficial for patients by allowing them to keep tabs on their MDI intake and encourages adherence to prescribed dosages.

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Which Industry Segments Are Leading the Development and Expansion of the Respiratory Monitoring Devices Market?

The respiratory monitoring devices market covered in this report is segmented –

1) By Type: Capnographs, Gas Analyzers, Pulse Oximeters, Peak Flow Meters, Spirometers, Polysomnographs, Others Types

2) By Application: Chronic Obstructive Pulmonary Disease (COPD), Infectious Diseases, Asthma, Other Applications

3) By End-User: Laboratories, Hospitals, Home Use

Subsegments:

1) By Capnographs: Mainstream Capnographs, Sidestream Capnographs

2) By Gas Analyzers: Single Gas Analyzers, Multi-Gas Analyzers

3) By Pulse Oximeters: Fingertip Pulse Oximeters, Handheld Pulse Oximeters, Wrist-Worn Pulse Oximeters, Tabletop Pulse Oximeters

4) By Peak Flow Meters: Disposable Peak Flow Meters, Digital Peak Flow Meters

5) By Spirometers: Desktop Spirometers, Handheld Spirometers, Tabletop Spirometers

6) By Polysomnographs: Portable Polysomnographs, Stationary Polysomnographs

7) By Other Types: Apnea Monitors, Home Sleep Testing Devices, Respiratory Gas Monitors

Which Regions Are Driving Growth in the Respiratory Monitoring Devices Market?

Asia-Pacific was the largest region in the respiratory monitoring devices market in 2023. North America was the second-largest region in the respiratory monitoring devices market. The regions covered in the respiratory monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Are the Defining Features of the Respiratory Monitoring Devices Market?

Respiratory monitoring devices are used to assess the patient’s respiratory organs and include patches that are placed on the body to measure respiration and heart rates. They are used to assess respiratory health, detect abnormalities, and guide treatment in clinical settings.

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