The global respiratory diagnostic and monitoring device market was valued at $4,348.1 million in 2015, and it is expected to grow at a CAGR of 8.1% during 2016 - 2022. The growth of the global market is largely driven by growing geriatric population and technological advancement of respiratory monitoring devices. Some of the other factors driving the growth of the global market include increasing prevalence of respiratory diseases, rapid urbanization, increasing level of pollution, increasing healthcare expenditure, and high prevalence of tobacco smoking. High growth in developing countries is expected to create ample opportunity for the manufacturers of respiratory diagnostic and monitoring devices.
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North America accounted for the largest share in the global market in 2015, owing to the growing geriatric population, and increasing prevalence of respiratory diseases in the region. The U.S. contributed largest revenue to the North American as well as global respiratory diagnostic and monitoring device market. The country is expected to remain the largest market for respiratory diagnostic and monitoring device globally. The increasing prevalence of respiratory disease, increasing healthcare expenditure, and technological advancement of respiratory monitoring devices are the key driving factor of the U.S. respiratory diagnostic and monitoring device market.
Some of the major players operating in the global respiratory diagnostic and monitoring device market include ResMed Inc, Masimo Corporation, General Electric Company, Hamilton Medical AG, Koninklijke Philips N.V, and Medtronic plc.
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