Lung Monitoring Devices Market By Product Type (Spirometers, Pulse Oximeters, Capnographs, Others), By End User (Hospitals, Homecare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Lung Monitoring Devices Market was valued for $3,247.02 million in 2022 and is estimated to reach $6,112.50 million by 2032, exhibiting a CAGR of 6.6% from 2023 to 2032.
Lung monitoring devices are used for precise and efficient monitoring of lung function for respiratory conditions, including chronic obstructive pulmonary disease (COPD), cystic fibrosis, and post-transplant patients. These devices aid in managing symptoms and help reduce exacerbations of multiple lung disorders such as asthma and COPD.
The growth of the lung monitoring devices market is driven by surge in incidence of respiratory diseases, increase in availability & affordability of healthcare treatment, and rise in number of advanced product launches. For instance, in March 2021, Vyaire Medical, a leading pharmaceutical company, announced the launch of the AioCare (HealthUp SA, Poland) mobile spirometry system in more than 15 countries across Europe, the Middle East, and Australia. Spirometry is the most common type of pulmonary function or breathing test.
Moreover, large medical technology firms are increasingly focusing on acquiring companies that provide solutions for lung monitoring devices, which is expected to notably contribute toward the market growth. Prominent players in the global lung monitoring devices market have adopted various strategies such as product launches, acquisition, and investments in R&D for advancement in lung monitoring devices to strengthen their position in the market and sustain the competitive environment.
Moreover, alarming increase in prevalence of COPD, technological advancements in lung monitoring devices, and rise in the number of accidents and trauma are some of the key factors driving the growth of the market. Furthermore, rise in levels of air pollution in metropolitan cities and changes in lifestyles involving cigarette smoking notably contribute toward the growing prevalence of pulmonary diseases. However, availability of alternative treatments for lung monitoring devices and lack of awareness regarding lung diseases hamper the market growth. Conversely, increased application of lung monitoring devices among the geriatric population is expected to provide lucrative opportunities for the growth of the market in the near future. In addition, extensive R&D activities in the field of lung monitoring devices along with significant improvement in medical infrastructure are anticipated to open new avenues for the expansion of the market during the forecast period.
The global lung monitoring devices market is segmented into product type, end user, and region. On the basis of product type, the market is classified spirometers, pulse oximeters, capnographs, and others. The spirometers segment further bifurcated into hand-held and table-top. The pulse oximeter segment further classified into bedside pulse oximeter, fingertip pulse oximeter, hand held pulse oximeter, wrist worn pulse oximeter and pediatric pulse oximeter.
Depending on end user, it is classified into hospitals, homecare, and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major companies profiled in the report include GE Healthcare, Hill-Rom, Inc., Koninklijke Philips N.V., Masimo, Medtronic, Nihon Kohden Corporation, Resmed Inc., Smiths Medical, Vitalograph Ltd., and Vyaire Medical.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lung monitoring devices market analysis from 2022 to 2032 to identify the prevailing lung monitoring devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the lung monitoring devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global lung monitoring devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy End UserHospitals
Homecare
Others
By Product TypePulse Oximeters
Type
Bedside Pulse Oximeter
Fingertip Pulse Oximeter
Hand held Pulse Oximeter
Wrist worn Pulse Oximeter
Pediatric Pulse Oximeter
Capnographs
Others
Spirometers
Type
Hand-Held
Table-Top
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Baxter International Inc.
Becton, Dickinson and Company
ICU Medical Inc.
Koninklijke Philips N.V.
Masimo Corporation
Medtronic plc
Nihon Kohden Corporation
ResMed Inc.
Teleflex Incorporated.
Vyaire Medical, Inc.
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