The Lung Monitoring Devices Market was valued for $3.24 Billion in 2022 and is estimated to reach $6.11 Billion 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.
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 Stakeholders
- This 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 Segments
By End User
- Hospitals
- Homecare
- Others
By Product Type
- Pulse 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 Region
- North 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.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LUNG MONITORING DEVICES MARKET, BY PRODUCT TYPE
CHAPTER 5: LUNG MONITORING DEVICES MARKET, BY END USER
CHAPTER 6: LUNG MONITORING DEVICES MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Lung Monitoring Devices Market,' The lung monitoring devices market was valued at $3.3 billion in 2022, and is estimated to reach $6.1 billion by 2032, growing at a CAGR of 6.6% from 2023 to 2032.Lung monitoring systems are devices that provide medication to avoid and manage symptoms and help reduce exacerbations of multiple lung disorders such as asthma, chronic obstructive pulmonary disease (COPD). Rise in levels of pollution in metropolitan cities and changes in lifestyles involving cigarette smoking, clogging of airways and other lung structures are the major causes for prevalence of respiration related problems. Lung monitoring devices may contain either a single or a combination of drugs, such as a bronchodilator, a corticosteroid, combination of different bronchodilator or corticosteroid respectively.
Key factors driving the growth of the lung monitoring devices market include increase in prevalence of lung disorders such as chronic obstructive pulmonary disease (COPD) and asthma, increase in demand for lung monitoring devices in the hospitals and increase in the technological advancements of the respiratory care devices. In addition, new product approval and product launch in market drives the growth of market. 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.
The alarming increase in prevalence of lung diseases and surge in geriatric population notably contribute toward the growth of the market. For instance, according to the report of American Lung Association, people aged 65 and above experienced the highest prevalence rate of chronic obstructive pulmonary disease (COPD) in 2020. Furthermore, they are highly affected by air pollution and smoke, which leads to respiratory complications. For instance, according to the report of Asthma & Allergy Foundation of America (AAFA) in June 2022, asthma is highly prevalent among adults aged 65 years and older. From the same source, around 7.8% of older adults in the U.S. have asthma. Thus, increase in geriatric population significantly contributes toward the growth of the market.
Moreover, the outbreak of the COVID-19 pandemic fueled the growth of the lung monitoring devices market, as the diseases majorly affected the lungs. In addition, rise in awareness about the effectivity of lung monitoring devices, new product launch, increase in disposable income, and advancements in devices are anticipated to propel the market growth during the forecast period. Moreover, growing awareness about respiratory disorders and importance about early diagnosis of diseases in developed and developing countries help boost the growth of the market. However, lack of awareness about respiratory diseases is expected to hinder the growth of the market.
The market also offers growth opportunities to the key players in the market. The target population is in tremendous need of devices in regions like Europe and Asia-Pacific. Hence, challenges to cater the unmet needs of the target population provides the growth opportunities. The online device delivery services have gained high traction in the last 4 years. As a result, engaged stakeholders in the industry have partnered with existing delivery services organization.
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).
The key players profiled in the study GE Healthcare, Hill-Rom, Inc., Koninklijke Philips N.V., Masimo, Medtronic, Nihon Kohden Corporation, Resmed Inc., Smiths Medical, Vitalograph Ltd., and Vyaire Medical. The players in the market have been actively engaged in the adoption various strategies such as acquisition, product launch, and partnership to remain competitive and gain advantage over the competitors in the market For instance, in September 2020, Capsule Technologies, a leading global provider of medical data technologies and acquired by Philips in January 2021, received FDA 510(k) clearance for its Vitals Plus monitoring solution with the Masimo NomoLine ISA CO2 Module, the Vitals Plus with NomoLine capnography measures the concentration of expired carbon dioxide in an exhaled breath.
Key Market Insights (Updated)
- By product type, the spirometers segment was the major share contributor in 2022.
- On the basis of end user, the homecare segment is anticipated to grow with the highest CAGR throughout the forecast period.
- Region wise, North America occupied major share of the lung monitoring devices market in 2022.
Companies Mentioned
- 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.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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