The global respiratory gas monitor market is anticipated to exhibit considerable CAGR of 7.8% during the forecast period (2021-2027). The increasing incidences of pre-term birth are a key factor driving the growth of the respiratory gas monitor market. According to the March of Dimes, in the US, about 380,000 babies are born prematurely each year. The preterm birth rate is 9.8% in the US. This means 1 in 10 babies is born too soon. The respiration support becomes utmost importance in case of pre-term birth child. Hence, the rise in incidence of pre-term birth is a key factor driving the growth of the respiratory gas monitor market.

Technological advancements, new product launches, and rising prevalence of chronic respiratory disorders across the globe are some other factors that are driving the growth of the global respiratory gas monitor market. According to the WHO, Asthma is one of the most common chronic diseases among children worldwide. Asthma affected an estimated 262 people in 2019 and caused 461 000 mortalities. The high investment in R&D of creating highly advanced respiratory gas monitors is anticipated to offer lucrative opportunities to the growth of the respiratory gas monitor market.

Impact of COVID-19 pandemic on respiratory gas monitor industry

The COVID-19 pandemic has made positive impact on the demand for respiratory gas monitor market. With onset of COVID-19 pandemic, the demand for remote patient monitoring has increased which has led to the hike in demand for respirator gas monitors to measure the oxygen level. In October 2020, Philips revealed that its sales rose 10% to $5.8 billion in the July-September period, while core profits improved by almost a third to $911 million. Growth was mainly driven by a 42% increase in sales at the connected care division, which makes monitoring and respiratory care devices used to treat COVID-19 patients and other appliances which allow workers to work remotely.

Segmental Outlook  

The respiratory gas monitor market is segmented on the basis of product type and end-user. Based on product type, the respiratory gas monitor market is segmented into stationary gas monitor and mobile gas monitor. Based on end-user, the market is segmented into hospitals and homecare. In 2020, stationary gas monitors held major market share based on end-user. However, homecare segmented is anticipated to exhibit significant during the forecast period. The growing innovation in gas monitors to make them user friendly and hike in demand for at home patient monitoring are the key factors driving the growth of this market segment. 

Stationary Gas Monitors held Considerable Share based on Product Type

The high adoption of stationary gas monitors in hospitals at a large scale is a key factor that has driven the stationary gas monitors market. However, mobile gas monitors are anticipated to exhibit significant growth rate based on end-user. The rising demand for remote patient care & monitoring is fuelling the growth of the stationary gas monitors market. Looking towards the hike in demand for mobile gas monitors key market players are investing in development of customer friendly mobile gas monitors.  

Global Respiratory Gas Monitor Market Share by End-User, 2020 (%) 

Regional Outlook 

The global respiratory gas monitor market is further segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. In 2020, the North America held considerable market share of XX% in respiratory gas monitor market. The well-established healthcare infrastructure, easy access to medical devices, high healthcare expenditure, and considerable prevalence of chronic respiratory disorders such as asthma, COPD, and so on are some of the prominent factors contributing to the high share of the regional market.

Global Respiratory Gas Monitor Market Growth, by Region 2021-2027

Asia-Pacific will augment With the Significant Growth Rate in the Respiratory Gas Monitor Market 

Asia-Pacific is projected to showcase highest CAGR of XX% during the forecast period. The rising prevalence of respiratory disorder among population due to high level of environment pollution across the region is expected to create demand for respiratory gas monitors in the region. Rising incidence of respiratory diseases such as COPD and asthma has been witnessed in China. According to the survey conducted by Chinese Centre for Disease Control and Prevention in 2019, 88.5% of all the deaths were caused by chronic diseases including cardiovascular, cancer, and chronic respiratory disease accounting for 80.7%. Furthermore, as per the study conducted by National Health and Planning Commission in 2019, 30 million people in China suffered from asthma and only 28% of the people with asthma have their condition under control. The rising prevalence of chronic respiratory disorders across the globe is further anticipated to drive the regional market growth.

Market Players Outlook

The global respiratory gas monitor market is characterized by the presence of several market players that are catering to a wide range of customers across the globe. Some of the key vendors of respiratory gas monitor include Abbott Toxicology Ltd., Bionics Corp., Drägerwerk AG, GE Healthcare, Medtronic plc and so on. The key vendors of the respiratory gas monitor are adopting several growth strategies such as mergers & acquisition, collaboration, and partnership, and so on to remain competitive in the respiratory gas monitor market. 

Recent Development 

In May 2020, Roche has announced the CE mark availability of Roche v-TAC, a new digital diagnostic solution. This device allows clinicians to obtain results for arterial blood gas values from patients with respiratory or metabolic abnormalities via a simpler, less invasive venous puncture through the use of a digital algorithm.

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global respiratory gas monitor market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.