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

Global Respiratory Monitoring Devices Market is segmented By Product Type (Diagnostic devices (Spirometer, Peak Flow Meters), Monitoring Devices (Sleep Test Devices, Gas Analyzers, Pulse Oximeters, Capnography), By End-user (Hospitals, Laboratories), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Respiratory Monitoring Market Overview

Global Respiratory Monitoring market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Respiratory monitoring devices closely monitor the respiration rate in individuals. These devices come as wearables, in-home settings, and in hospitals as systems. As respiration is the first sign of noticing any abnormality inside the body, monitoring respiratory rate is crucial in individuals suffering from heart ailments and other respiratory disorders.  

Respiratory Monitoring Market Scope

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Market Dynamics: Drivers & Restraints

Increasing prevalence of respiratory diseases 

The increasing global burden of respiratory diseases like chronic obstructive pulmonary disorder, asthma, pneumonia, and others. For instance, according to the World Health Organization, COPD is the third leading cause of death worldwide, causing 3.23 million deaths in 2019.

Due to increase in the tobacco smoking, respiratory diseases are rising. For instance, according to the Australian Institute of Health and Welfare, In 2021–22, there were 53,000 hospitalizations with a principal diagnosis of COPD for people aged 45 and over (500 hospitalizations per 100,000 population).

Furthermore, according to the American Lunch Association, In 2022, over 11.7 million people, or 4.6% of adults, reported a diagnosis of COPD (chronic obstructive pulmonary disease, chronic bronchitis, or emphysema.

Accuracy Concerns

Vital signs are monitored using respiratory monitoring devices which are read on the monitor provided. The accuracy of the device is important for any digital monitoring device. Some respiratory monitoring devices may face technical limitations that give rise to wrong results that impact further treatment. Technological advancements may limit the usage of the new devices compared to the traditional ones due to the lack of proper training and education.

Respiratory Monitoring Market Segment Analysis

The global respiratory monitoring market is segmented based on product type, end-user and region.

Pulse Oximeters Product Type is Expected to Dominate Market

Pulse Oximeters measure the oxygen in the blood. This non-invasive medical device is effective for monitoring respiratory functions. The launch of the products is expected to drive the market in the forecast period. For instance, in November 2023, BioIntelliSense launched a skin tone-sensitive pulse oximetry sensor as the FDA meets on racial bias. 

In April 2023, Masimo received FDA 510(k) clearance for its Rad-G with Temperature, a versatile handheld monitor that provides clinically proven SET pulse oximetry, respiration rate along other important parameters. 

In July 2023, Emerson launched the ASCO Series 588 Stationary Oxygen Concentrator Manifold, which reduces manufacturer engineering and assembly time and improves energy efficiency, product lifespan, and reliability of devices.

Respiratory Monitoring Market Geographical Analysis

North America is Expected to Dominate the Global Market

North America is expected to hold the largest share of the market due to the increase in market developments that are actively taking place in the US. Due to the high prevalence of respiratory diseases in the North American region, the demand for respiratory monitoring devices is rising and companies are actively launching different products that monitor the respiratory rate in individuals. 

For instance, in February 2024, ResMed launched new bilevel sleep respiratory devices, AirCurve 11 series bilevel positive airway pressure devices in the U.S

Furthermore, in July 2023, ResMed, a leading medical device company acquired Somnoware, a US-based provider of sleep and respiratory care diagnostics software. The company aims to integrate Somnoware's products and services into its portfolio.

Key Developments

• In March 2023, Vitalograph, a manufacturer of respiratory devices launched its VitaloPFT Pulmonary Function Testing Series, aimed for use in secondary care.

Competitive Landscape

The major global players in the respiratory monitoring market include GE Healthcare, SMITH & NEPHEW, VYAIRE MEDICAL, INC., Masimo Corporation, Medtronic plc, Smiths Medical, COSMED, Nihon Kohden Corporation, Koninklijke Philips N.V., Novelda AS among others.

Why Purchase the Report?

• To visualize the global respiratory monitoring market segmentation based on product type, disease type, route of administration, end user and region as well as 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 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 market report would provide approximately 64 tables, 61 figures and 186 pages.

Target Audience 2024

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