The non-invasive respiratory monitoring market is estimated to secure a valuation of US$ 8.4 Billion in 2023 and is estimated to rise to US$ 15.0 Billion by 2033. The market is anticipated at a CAGR of 6.0% during the forecast period. The factors accelerating the demand for non-invasive respiratory monitoring are as follows-
The increased rate of respiratory disorders globally drives the demand for noninvasive respiratory monitoring during the forecast period. The growing prevalence of asthma and chronic obstructive pulmonary devices are some of the major factors expected to drive the market growth.
The noninvasive respiratory monitoring market includes the products like spirometers, pulse oximeters, peak flow meters, and capnography among all these pulse oximeters account for the highest market share. The easy availability of noninvasive respiratory monitoring devices in hospitals, clinics, and home care is likely to drive market growth.
The increased geriatric population and increased incidences of infectious diseases and growing per capita income are some of the factors aiding the market growth. The growing consumer awareness regarding diagnostic and monitoring techniques and the associated benefits are expected to drive market growth. The increased application of the latest technology in respiratory monitoring devices like the integration of smartphones with pulse oximeters is boosting the demand for the noninvasive respiratory monitoring market.
North America accounts for the highest share of the non-invasive respiratory monitoring market owing to the increasing geriatric population along with increasing incidences of respiratory disorders in the region. Europe accounts for the second highest share of the market owing to the increased awareness about noninvasive respiratory monitoring in the region.
Asia Pacific is expected to be the fastest-growing region during the forecast period due to the increased investment by key market players in the healthcare sector and increased government funding for research & development in the region boosting the growth of the non-invasive respiratory monitoring market in the region.
The leading players operating in the non-invasive respiratory monitoring devices market are VYAIRE, Smith & Nephew, General Electric, ResMed, Masimo, COSMED Srl, MGC Diagnostic Corporation, Koninklijke Philips N.V., Medtronic and Teleflex Incorporated, Nihon Kohden Corporation, Novelda AS, Welch Allyn Inc, among others
The non-invasive respiratory monitoring market is highly fragmented in nature, the leading players are focusing on technological innovation for speeding up the diagnosis of the non-invasive respiratory monitoring market. Also, the non-invasive respiratory monitoring market players are involved in joint ventures, partnerships, and mergers.
For instance, in November 2022- ResMed expanded its footprint to support the development, growth, and production of digital health solutions by opening a new manufacturing center in Singapore.
The non-invasive respiratory monitoring market is expected to continue to grow in the coming years. The launch of new advance products and increasing investment in research & development by market players are anticipated to boost the demand for non-invasive respiratory monitoring specifically in emerging economies. This led to market growth.
For instance, founded in 2017- Etisence is the developer of wearable cardio-respiratory monitoring devices and it has also developed non-invasive, cardiac, and respiratory flow metering technology based on inductive plethysmography that uses advanced signal processing, physiological models, and proprietary sensors.
| Data Point | Key statistics |
|---|---|
| Expected Market value in 2023 | US$ 8.4 Billion |
| Projected Market Value in 2033 | US$ 15.0 Billion |
| Growth Rate (2023 to 2033) | CAGR of 6.0% |
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According to the latest research by Future Market Insight, The Non-Invasive Respiratory Monitoring market is set to witness Soaring growth in the forecast period 2023 to 2033 at a CAGR of 8%. The respiratory monitoring device has a wide range of applications in all diseases related to respiration.
In the developing world, the air is getting polluted at a high rate due to this many breathing problems occur to citizens worldwide. In fact, respiratory diseases are listed as the world’s biggest health concern, causing one-sixth of all deaths globally. These reasons signify the soaring growth of the market in the forecast period globally.
The growing rate of respiratory disease globally due to the developments going on worldwide drives the market demand in the coming period. Factors such as highly accurate, rapid, and effective results produced by the Respiratory monitoring devices fuel the growth of the market.
The Increasing prevalence of asthma and chronic obstructive pulmonary diseases (COPDs) are some of the major factors driving the demand for respiratory monitoring devices.
The Covid-19 pandemic became the major factor responsible for the bullish growth in the market. Increasing efforts to introduce new technologies, sensors which are capable of providing accurate measurement on respiration rate.
Principal Consultant
North American region holds the largest share in the respiratory monitoring devices.
The factor responsible for the large share in segment are, the high awareness about Oximeters, spirometers and plethysmographs, economic capability to purchase expensive machines in large number, prevalence of respiratory diseases, rising demand for technologically advanced and innovative products in hospitals, diagnostic laboratories, home care , and outpatient ambulatory surgery centers and presence of well established companies in the region.
Europe holds the second largest share in the market, the factors responsible for the same are, the Highest Covid-19 cases which led in the highest demand of the respiratory monitoring market, The presence of established companies and developing companies boosts the demand of market.
Asia pacific is predicted to be the fastest developing region as the heath care expenditure is increasing year on year, the population is increasing, number of emerging companies is increasing every year, the introduction of new technologies boosts the demand of the market.
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According to FMI Analysis,
are identified as the key players of the Non-invasive respiratory monitoring market.
Masimo Corporation introduces Root Patient monitoring and connectivity platform in September 2020.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Non-Invasive Respiratory Monitoring Market
