Market Size of North America Respiratory Monitoring Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.54 Billion |
| Market Size (2029) | USD 2.20 Billion |
| CAGR (2024 - 2029) | 7.56 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Respiratory Monitoring Market Analysis
The North America Respiratory Monitoring Market size is estimated at USD 1.54 billion in 2024, and is expected to reach USD 2.20 billion by 2029, growing at a CAGR of 7.56% during the forecast period (2024-2029).
The growth is attributed to respiratory diseases, such as respiratory infections, asthma, lung cancer, and COPDs, and the availability of well-established healthcare infrastructure.
- Chronic respiratory diseases are found to affect the airways and other parts of the lungs for a long period of time. Respiratory symptoms are among the major reasons of consultation with doctors and physicians in primary health care centers. Some of the major preventable chronic respiratory disorders are asthma, chronic obstructive pulmonary disease (COPD), allergic rhinitis, sleep apnea, and tuberculosis (principally, multi-drug resistant tuberculosis).
- In Canada, over 3.8 million individuals had asthma in 2019, as per 2019 annual asthma survey report. Due to the high incidence of asthma in Canada, the demand of respiratory monitoring devices expected to rise over the forecast period.
- According to data by the Centers for Disease Control and Prevention (CDC), cigarette smoking is the leading cause of death in the United States. Tobacco consumption kills more than 4,80,000 Americans each year, with more than 41,000 of these deaths due to exposure to secondhand smoke.
- In addition, smoking-related illness in the United States accounts for more than USD 300 billion a year, including nearly USD 170 billion in direct medical care for adults and USD 156 billion in lost productivity. A large number of the teenager's group has also been found to be affected by tobacco smoking.
North America Respiratory Monitoring Industry Segmentation
Respiratory monitoring devices help in monitoring various respiratory disorders. These devices are used to diagnose acute or chronic respiratory disorders by determining the respiratory capabilities of the lungs. A number of respiratory tests are being designed to observe the efficiency of the lungs in exchanging respiratory gases and identify obstructions in the respiratory tract.
| By Type of Device | |
| Spirometers | |
| Peak Flow Meters | |
| Sleep Test Devices | |
| Gas Analyzers | |
| Pulse Oximeters | |
| Capnographs | |
| Other Types of Devices |
| Geography | |||||
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North America Respiratory Monitoring Market Size Summary
The North America Respiratory Monitoring Market is poised for significant growth, driven by the increasing prevalence of respiratory diseases such as asthma, COPD, and lung cancer, alongside a robust healthcare infrastructure. The market is characterized by a rising demand for advanced respiratory monitoring devices, including spirometers, which are essential for diagnosing and managing chronic respiratory conditions. The high incidence of asthma in Canada and the impact of smoking-related illnesses in the United States further underscore the need for effective respiratory monitoring solutions. Technological advancements and a growing preference for home healthcare are expected to enhance the market's expansion, with key players focusing on innovative product launches and improvements in device capabilities.
The market landscape is marked by the introduction of advanced spirometers and other monitoring devices that offer increased portability, connectivity, and integration with electronic medical records. Companies such as NuvoAir and Henry Schein Medical have been at the forefront, launching products that improve the recognition and diagnosis of respiratory conditions like COPD. The competitive environment is shaped by major industry players, including Airsep Corporation, Draegerwerk, Fisher & Paykel, GE Healthcare, Getinge AB, Hamilton Medical, Koninklijke Philips NV, Medtronic PLC, and ResMed, who are actively developing and launching new technologies to meet the growing demand for respiratory monitoring solutions in North America.
North America Respiratory Monitoring Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rise in the Number of Chronic Obstructive Pulmonary Disease Patients (COPD), Asthma, TB, etc.
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1.2.2 Technological Advancements
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1.3 Market Restraints
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1.3.1 Reimbursement Concerns
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1.3.2 High Price of Monitoring Devices
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type of Device
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2.1.1 Spirometers
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2.1.2 Peak Flow Meters
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2.1.3 Sleep Test Devices
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2.1.4 Gas Analyzers
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2.1.5 Pulse Oximeters
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2.1.6 Capnographs
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2.1.7 Other Types of Devices
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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North America Respiratory Monitoring Market Size FAQs
How big is the North America Respiratory Monitoring Market?
The North America Respiratory Monitoring Market size is expected to reach USD 1.54 billion in 2024 and grow at a CAGR of 7.56% to reach USD 2.20 billion by 2029.
What is the current North America Respiratory Monitoring Market size?
In 2024, the North America Respiratory Monitoring Market size is expected to reach USD 1.54 billion.
