According to a new report, published by KBV research, The Global Lung Monitoring Devices Market size is expected to reach $5.1 billion by 2030, rising at a market growth of 6.2% CAGR during the forecast period.
The Spirometers segment is leading the Global Lung Monitoring Devices Market by Product Type in 2022; thereby, achieving a market value of $2 billion by 2030. This is due to an increase in lung monitoring devices demand among the patient population as an increase in the prevalence of asthma. The need for lung monitoring devices is also predicted to increase due to the rise in the geriatric population. It is caused by the fact that older people are far more at risk for respiratory diseases.
The Homecare segment would register a CAGR of 6.8% during (2023 - 2030). The home care tools make monitoring the lung health at home easier for people with lung-related disorders, such as asthma, chronic obstructive pulmonary disease (COPD), and other lung-related problems. Devices for homecare lung monitoring provide the convenience of monitoring lung function without requiring frequent visits to a healthcare center.
The North America region dominated the Global Lung Monitoring Devices Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.7 billion by 2030. The Europe market is anticipated to grow at a CAGR of 5.8% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 6.9% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/lung-monitoring-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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