Respiratory Monitoring Devices Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: Jul 2020
  • Pages: 120
  • SKU: IRTNTR43462
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The respiratory monitoring devices market size has the potential to grow by USD 1773.56 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in the year-over-year growth.

This report provides a detailed analysis of the market by product (pulse oximetry, spirometry, and capnography) and geography (North America, Europe, Asia, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Becton, Dickinson and Co., Drägerwerk AG & Co. KGaA, General Electric Co., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Nihon Kohden Corp., Nonin Medical Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., and Smiths Medical Inc.

Market Overview

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Market Competitive Analysis

The market is fragmented. The key vendors are focusing on R&D and M&A activities to expand their market base. Becton, Dickinson and Co., Drägerwerk AG & Co. KGaA, and General Electric Co. are some of the major market participants. Although the increasing prevalence of chronic respiratory diseases will offer immense growth opportunities, competitive pricing between global and local vendors will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this respiratory monitoring devices market forecast report provides a detailed analysis of the market leaders. It offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this respiratory monitoring devices market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

  • Becton, Dickinson and Co.
  • Drägerwerk AG & Co. KGaA
  • General Electric Co.
  • Koninklijke Philips NV
  • Masimo Corp.
  • Medtronic Plc
  • Nihon Kohden Corp.
  • Nonin Medical Inc.
  • Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
  • Smiths Medical Inc.

Respiratory Monitoring Devices Market: Segmentation by Geography

Respiratory-Monitoring-Devices-Market-Share-by-Geography

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North America was the largest respiratory monitoring devices market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing number of campaigns to spread awareness about respiratory monitoring devices will significantly drive respiratory monitoring devices market growth in this region over the forecast period.

38% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for respiratory monitoring devices in North America. Market growth in this region will be faster than the growth of the market in Europe.

Respiratory Monitoring Devices Market: Segmentation by Product

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 The pulse oximetry product segment accounted for the largest market share in 2019. The segment will provide several growth opportunities and account for the largest respiratory monitoring devices market share throughout the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the respiratory monitoring devices market size.

Respiratory Monitoring Devices Market: Key Drivers and Trends

The acquisition of small specialized hospitals by Tier-1 hospitals is one of the critical factors that is expected to propel the respiratory monitoring devices market  Tier-1 hospitals provide improved services to their patients by procuring advanced respiratory monitoring devices. M&As enables staff from smaller hospitals to learn to operate the latest and advanced respiratory monitoring devices. This will consequently increase the adoption of these devices.

Technological advances in respiratory monitoring devices will also have a positive impact on the growth of this market. Innovations in smartphones, wearables, cordless devices, and integrated devices encourage companies to develop products with high efficiency and effectiveness. The development of such products boosts the accessibility of respiratory monitoring devices in one system and minimizes the manufacture and purchase costs. Technological advancements, coupled with the acquisition of specialized hospitals by Tier-1 hospitals, will drive respiratory monitoring devices market growth at a CAGR of over 9% during the forecast period.

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Respiratory Monitoring Devices Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive respiratory monitoring devices market growth during the next five years
  • Precise estimation of the respiratory monitoring devices market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the respiratory monitoring devices market industry across North America, Europe, Asia, and ROW
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of respiratory monitoring devices market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The respiratory monitoring devices market growth will increase by $1773.56 million during 2019-2024.
The respiratory monitoring devices market is expected to grow at a CAGR of 9.36% during 2019-2024.
Technavio has segmented the respiratory monitoring devices market by product (Pulse oximetry, Spirometry, and Capnography) and geographic (North America, Europe, Asia, and ROW).
Becton, Dickinson and Co., Dragerwerk AG & Co. KGaA, General Electric Co., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Nihon Kohden Corp., Nonin Medical Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Smiths Medical Inc. are a few of the key vendors in the respiratory monitoring devices market.
North America will register the highest growth rate of 38.16% among the other regions. Therefore, the respiratory monitoring devices market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the respiratory monitoring devices market growth are:
  • Increasing prevalence of chronic respiratory diseases
  • Technological advances in respiratory monitoring devices
The respiratory monitoring devices market vendors should focus on grabbing business opportunities from the pulse oximetry segment as it accounted for the largest market share in the base year.
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