Respiratory Diagnostic and Monitoring Device Marke

The respiratory diagnostic and monitoring device market is set to cross $7.5 billion by 2022, growing at a CAGR of 8.1% between 2016-2022.


The market is driven by factors such as high prevalence of respiratory disease, growing geriatric population, high prevalence of smoking, rapid urbanization and increasing pollution level, and increasing healthcare expenditure.

 

In terms of type, the respiratory diagnostic and monitoring device market includes pulse oximeter, spirometer, gas analyzer, capnographs and others. In 2015, the pulse oximeter was the largest segment of the respiratory diagnostic and monitoring device industry and is expected to grow at the fastest rate during the forecast period.

 

In terms of end-user, the respiratory diagnostic and monitoring device market is classified into hospital, home care and others. In 2015, the hospital was the largest segment of the global respiratory diagnostic and monitoring device industry, and home care is expected to witness fastest growth during the forecast period.

 

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Asia-Pacific would be the fastest growing region in the respiratory diagnostic and monitoring device market during 2016 - 2022. The Asia-Pacific market is expected to grow at a CAGR of 8.9% between 2016-2022. The major reasons for the fastest growth of the market in the region are improving healthcare infrastructure, increasing prevalence of respiratory diseases, and increasing geriatric population. The Japanese market for respiratory diagnostic and monitoring device is expected to grow at a CAGR of 8.6% during the forecast period, to reach $689.9 million by 2022.

 

In order to treat various diseases attributed to increased usage of tobacco, an increase in the usage of respiratory diagnostic and monitoring devices is expected which in turn is expected to drive the growth of the respiratory diagnostic and monitoring device market.

 

Some of the major players operating in the respiratory diagnostic and monitoring device market include Masimo Corporation, General Electric Company, Hamilton Medical AG, Koninklijke Philips N.V., and Medtronic plc.