The growth
of the market is attributed to the increasing geriatric population, prevalence
of respiratory disease and smoking, pollution level, healthcare expenditure,
and rapid urbanization. Respiratory diagnostic and monitoring devices provide
monitoring and diagnostic evaluation of cardiopulmonary system disorders and
diseases. These devices are used extensively in intensive care units, general
and surgical wards, and homes.
On the basis
of type, the respiratory diagnostic and monitoring device market is divided into gas analyzer,
capnograph, spirometer, pulse oximeter, and others. In 2015, pulse oximeters
held the largest share of the market, and the division is expected to grow at the
highest CAGR during the forecast period as well. Pulse oximeter, a non-invasive
instrument, is used to measure the proportion of oxygenated hemoglobin in the
blood, and it also enables the measurement of the pulse rate.
The
increasing pollution level and rapid urbanization are leading to the growth
of the respiratory diagnostic and monitoring device market. The lifestyle associated
with urbanization is threatening the health of individuals. Furthermore, air
pollution is having a considerable effect on the respiratory health and also
leading to climate change. The fine particles emitted by motor vehicles,
industries, and houses are responsible for a range of cardiovascular
conditions, respiratory diseases, and cancers. In addition to this, the urban
lifestyle results in an increase in the prevalence of chronic diseases and
consumption of unhealthy food.
Hence,
emerging economies are a potential area for the growth of the worldwide
healthcare industry. Moreover, the rising prevalence of respiratory diseases,
rapid urbanization, and increasing pollution level are driving the growth of
the market for respiratory diagnostic and monitoring devices.
