Respiratory Measurement Devices Market: Market Segmentation By Product Type (Spirometers, Pulse Oximetry Systems, Peak Flow Meters And Capnographs); By End User (Home Use, Hospital, Clinics and Others) - Global Demand Analysis & Opportunity Outlook 2027
Buy Now Report ID: 704 | Published Date: Feb 10, 2023
The growing population across the globe is anticipated to incur various chronic diseases on the account of the changing lifestyle of the population. The chronic obstructive pulmonary disease is more common among the population of age over 40 and it is more common among women. Thus the increasing prevalence of the chronic diseases across the globe is anticipated to fuel the growth of the global respiratory measurement devices market.
The one of the growth drivers associated with the global respiratory measurement devices market is the increasing development of the wireless respiratory measurement devices. The wireless monitoring systems increases the efficiency of the devices and supports automatic remedial procedures. The various breathing parameter can be enhanced which provides massive relief to the patients.
The global respiratory measurement devices market is witnessing robust growth during the forecast period. The growth can be attributed to the increasing cases of the asthma and lung cancer especially among the geriatric population coupled with increasing technological development in the field of medical devices. For instance, according to WHO the total cases of the asthma are 235 million and it is more common in the children. Additionally more than 3 million of the people die each year from chronic obstructive pulmonary disease. Thus, the rising cases of the respiratory diseases is anticipated to be the major factor fostering the growth of the global respiratory measurement devices market.
Global respiratory measurement devices market is anticipated to record a CAGR of 8.3% over the forecast period. The global respiratory measurement devices market is expected to showcase substantial growth by the end of the forecast period. The global respiratory measurement devices market can be segmented into product and end-user. On the basis of product, it is sub-segmented into spirometers, pulse oximetry systems, peak flow meters and capnographs. The pulse oximetry is anticipated to be the leading sub-segment during the forecast period. The pulse oximetry is involved in the monitoring of the respiratory diseases especially chronic obstructive pulmonary disease. On the basis of end-users, it is sub-segmented into home use, hospital, clinics and others
On the basis of end-users, it is sub-segmented into home use, hospital, clinics and others. The hospitals is anticipated to lead the end-users sub-segment during the forecast period. The presence of the advanced devices for the treatment of the chronic diseases coupled with the availability of the consultants for the respiratory problems is anticipated to be the major reason driving the growth of the sub-segment during the forecast period.
The complicated measuring procedures involved with the respiratory measurement devices is anticipated to restrain the growth of the global respiratory measurement devices market during the forecast period.
Our-in depth analysis of the global respiratory measurement devices market includes the following segments:
The graph shown below depicts the percentage of the geriatric population in 2016.
Global respiratory measurement devices market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Radhika Gupta, Shivam Bhutani
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