Respiratory Monitoring Devices Market 2021 Best Workable Strategy Influencing Growth & Future Scope Till 2028

Spirometry Gains Popularity as Clinical Standard for Development of Wearable Sensors
High prevalence of asthma and chronic obstructive pulmonary diseases (COPDs) are some of the major factors driving the demand for respiratory monitoring devices. Hence, manufacturers in the respiratory monitoring devices market are innovating in wearable strain sensors for effective management of chronic respiratory diseases (CRDs). They are increasing efforts to introduce wearable sensors capable of providing measurements on respiration rate (RR) as well as volume with high fidelity. In order to offer more convenience to patients, manufacturers are increasing their production capabilities of disposable wearable sensors.

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Companies in the respiratory monitoring devices market landscape are increasing R&D activities to develop wearable sensors that are capable of detecting respiration under various ambulatory conditions. These sensors are built on the technology of medical grade continuous spirometers. As such, spirometers record third-highest revenue in the respiratory monitoring devices market. The spirometers product segment is expected to reach value of ~US$ 1.1 Bn by the end of 2027. Hence, manufacturers are innovating in the spirometry technology for the development of innovative wearable sensors.

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Polysomnography Devices Help in Assessing Sleep-related Breathing Events to Validate New Algorithms
Polysomnography (PSG) is considered as the gold standard to receive data on respiration and sleep patterns. Companies in the respiratory monitoring devices market are increasing their efforts to develop PSG sensors that provide a wealth of information to healthcare providers. Though methods of automatic analysis are available in the healthcare industry, skilled technicians typically opt for PSG. Signal analysis and machine learning are key factors boosting the adoption of PSG in the healthcare industry. Manufacturers are increasing their research efforts in the two domains to help healthcare providers capture complex information and patterns of patients.
Moreover, new parameters for diagnosis and symptom severity are fueling the adoption of signal analysis and machine learning to enhance the outcomes via PSG. Companies in the respiratory monitoring devices market are introducing the technology of automatic detection in PSG to assess sleep-related breathing events of patients. They are making available conventional PSG sensors and new devices to identify pathological phenomena of sleep-related breathing events. Manufacturers are taking the help of well-characterized datasets to validate new algorithms related to respiratory diseases.

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Miniaturized Capnometers Enable CO2 Measurement in Home Care Settings
The revenue of capnographs is not as significant as other products in the respiratory monitoring devices market, but innovations in capnometers are triggering segment growth. For instance, product and design development consultancy, Wideblue, revealed their new personal capnometer device for Cambridge Respiratory Innovations Limited (CRiL), a respiratory solutions company.
Companies in the respiratory monitoring devices market are focusing on providing convenience of patients by increasing offerings in portable battery-powered capnometers to measure CO2. Since traditional capnometers in hospitals are bulky bedside machines, manufacturers are innovating in miniaturized capnometers that can be used as a patient's personal respiratory monitor. As such, both hospital and home care end user segments of the in the respiratory monitoring devices market are projected for exponential growth. Hence, the introduction of personal capnometers can create incremental opportunities for manufacturers, as this novel device can be used at home.
Mobile Technology Drives Adoption of Pulse Oximeters
Pulse oximetry is a non-invasive method for monitoring respiratory conditions and heart rate. Hence, manufacturers in the respiratory monitoring devices market are increasing their production capabilities to develop advanced pulse oximeters. As such, the pulse oximeters product segment of the respiratory monitoring devices market is estimated to reach a value of ~US$ 3.4 Bn by 2027. However, lack of training and resources has slowed down the adoption of pulse oximeters, especially in developing countries. Lack of training for healthcare professionals has led to increased death rates from anesthesia. Hence, manufacturers in the respiratory monitoring devices space are combining the technology of smartphones with pulse oximeters.
By aligning mobile phones with pulse oximeters, non-specialist healthcare workers can prevent and reduce death rates of patients suffering from airway and respiratory problems. This trend in the respiratory monitoring devices market has increased the use of pulse oximeters in hospitals and home care settings. Companies are innovating in the computing power of mobile phones and its other peripheral resources to offer low-cost standalone devices to users.

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Analysts' Viewpoint
The respiratory monitoring devices market is largely fragmented, with several market players accounting for ~60-70% of the market share. This creates lucrative opportunities for emerging players to innovate in smart peak flow meters that detect asthma exacerbations and connects with the headphone jack of smartphones.
However, spirometry and capnometry require cumbersome and expensive devices to assess respiratory diseases. Hence, manufacturers should increase their efficacy in the development of automatic, convenient, and reliable sensors and devices that improve RR monitoring. They should innovate in flow and pressure sensors to enhance management of respiratory diseases. Companies should also tap into new opportunities in contactless sleep monitoring devices used to treat CRDs such as sleep apnea.
Respiratory Monitoring Devices Market: Overview
• This report analyzes the current scenario of and future growth prospects for the global respiratory monitoring devices market. High prevalence respiratory diseases, surge in healthcare expenditure of emerging economies, and favorable medical schemes & reimbursement policies are key factors that are projected to drive the global respiratory monitoring devices market during the forecast period.
• The report provides an elaborate executive summary, which provides a snapshot of various segments of the global respiratory monitoring devices market. It also provides information and data analysis of the global respiratory monitoring devices market with respect to segments based on product, end user, and region.
• The overview section of the report provides a detailed qualitative analysis of drivers, restraints, and opportunities that impact the global respiratory monitoring devices market
• The report includes company profiles, which provide information about business strategies, product portfolios, and financials of players operating in the global respiratory monitoring devices market and competition landscape of the market
• The report on the global respiratory monitoring devices market offers attractiveness analysis of different segments of the market across regions
• The last section of the report comprises quantitative and qualitative analysis on market share/position of key players operating in the global respiratory monitoring devices market. It analyzes key competitive strategies adopted by major market players, thereby presenting a thorough understanding of the competition scenario in the global respiratory monitoring devices market.
Respiratory Monitoring Devices Market: Key Segments
• In terms of product, the global respiratory monitoring devices market has been segregated into pulse oximeters, capnographs, spirometers, polysomnographs (PSG), peak flow meters, gas analyzers, and others. The pulse oximeters segment accounted for a major share of the respiratory monitoring devices market in 2018.
• Increase in healthcare expenditure, technological advancements, and availability of cost-effective respiratory monitoring devices are various factors that are estimated to drive the pulse oximeters segment during the forecast period
• Based on end user, the global respiratory monitoring devices market has been classified into home care, hospitals, ambulatory surgical centers, and specialty clinics. The hospitals segment accounted for a major share of the respiratory monitoring devices market in 2018. The home care segment is projected to gain significant market share, owing to increase in the number of market players receiving Food and Drug Administration (FDA) approval for home use respiratory monitoring devices. In January 2019, Masimo received the FDA approval for MightSat Rx finger pulse oximeter that can be used at home.
• Market size and forecast for each of the segments of the global respiratory monitoring devices market have been provided for the period from 2017 to 2027. The CAGR of the respective segment of the respiratory monitoring device market has also been provided for the period from 2019 to 2027, considering 2018 as the base year.
Respiratory Monitoring Devices Market: Regional Outlook
• In terms of region, the global respiratory monitoring devices market has been divided into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa). Each region of the global respiratory monitoring devices market has been further divided into countries/sub-regions.
• The report provides size and forecast of the respiratory monitoring devices market in each region and country/sub-region for the period from 2017 to 2027. The CAGR for the market in each of these regions and countries/sub-regions has also been provided for the period from 2019 to 2027. The study also covers the market competition scenario in these regions.

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Respiratory Monitoring Devices Market: Companies Covered
• Key players in the global respiratory monitoring devices market have been profiled based on attributes such as company overview, product portfolios, financial overview, recent developments, and competitive business strategies
• Major companies profiled in the global respiratory monitoring devices market report are
o Medtronic
o Philips Healthcare (Koninklijke Philips N.V.)
o Smiths Medical (part of Smiths Group plc)
o Drägerwerk AG & Co. KGaA
o GE Healthcare (part of General Electric Company)
o Welch Allyn, Inc. (Hill-Rom Holdings, Inc.)
o Masimo
o MGC Diagnostics Corporation
o Vyaire Medical Inc. (Becton, Dickinson and Company and Apax Partners' Joint Venture)
o Nihon Kohden Corporation
o Novelda AS

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