The North America Lung Monitoring Devices Market would witness market growth of 5.5% CAGR during the forecast period (2023-2030).
Lung monitoring devices are used to measure, record, distribute, and show the values that represent the state of the lungs. Bronchitis, asthma, and chronic obstructive pulmonary disease (COPD) are among the conditions for which it is commonly prescribed. It employs a controlled pressure technique to enhance blood flow in the legs.
The lung monitoring devices use various equipment, including capnography, peak flow meters, pulse spirometers, and pulse oximeters. A spirometer measures the amount of air that enters and leaves the lungs during one breathing cycle. The intake and outflow of air from the lungs are measured with a spirometer. Obstructive and restrictive abnormal ventilation patterns will both be detected by the spirogram.
The rise in lung disorders like asthma and COPD primarily fuels the development of new lung monitoring technologies in the medical device sector. Additionally, the growing number of people with respiratory illnesses is anticipated to open exciting opportunities for the growth of the market. Infectious respiratory disorders like tuberculosis and pneumonia are becoming more common and diagnostic technology is improving; significant companies, the government, and charitable groups are investing more in R&D for diagnostic testing.
In the United States, the respiratory disease affects millions of people. More than 25 million people have asthma. Strategies to decrease environmental triggers, ensure individuals get the proper medications, and help prevent hospital visits for asthma. More than 16 million people in the US have COPD (chronic obstructive pulmonary disease), a prominent cause of death. The number of deaths from COPD can be significantly decreased by adopting preventative measures, including reducing air pollution and helping individuals quit smoking. For the prevention and treatment of other respiratory diseases, interventions tailored to at-risk groups can also be helpful. Thus, rising cases of asthma and other lung diseases, coupled with the increasing awareness among the government, will surge the demand for lung monitoring devices and thereby propel the market growth in the North America region.
The US market dominated the North America Lung Monitoring Devices Market by Country in 2022; thereby, achieving a market value of $1,248.3 million by 2029. The Canada market is experiencing a CAGR of 7.8% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.9% during (2023 - 2030).
Based on Product Type, the market is segmented into Spirometers, Capnographs, Pulse Oximeters, and Others. Based on End User, the market is segmented into Hospitals, Homecare, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Lung Monitoring Devices Market is Projected to reach USD 5.1 Billion by 2030, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Teleflex, Inc., Medtronic PLC, Masimo Corporation, Baxter International, Inc. (Hill-Rom Holdings, Inc.), Nihon Kohden Corporation, ICU Medical, Inc., Vyaire Medical, Inc. (Apax Partners LLP), Becton, Dickinson and Company, Koninklijke Philips N.V. and Propeller Health (ResMed, Inc.)
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