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(Medical-NewsWire.com, June 23, 2017 ) Global Respiratory Monitoring Devices Market was worth USD 15.14 billion in 2016 and is expected to reach USD 24.07 billion by 2021 with a CAGR of 9.7 %. Respiratory Monitoring Devices are used to measure the amount of air we inhale or exhale, Amount of oxygen present in blood or the Amount of carbon dioxide.
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Respiratory Diseases are increasing day by day because of increase in pollution, rapid Industrialization and deforestation. An increase in number of smokers globally is also a reason for increasing respiratory diseases. Respiratory Monitoring Devices came into play because of the increase in respiratory diseases and high hospital expenditures. With Respiratory Monitoring Devices, Clinical care is shifted to home care.
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There are many factors that are driving this market like increase in aging population, Prevalence of COPD Globally, rise in number of Smokers, Development of advanced Technology and rise in healthcare expenditure in emerging countries. But factors like huge price of Monitoring Devices and increased complexity are restraining the market growth.
Global Respiratory Monitoring Devices Market is segmented based on Diagnostic and Monitoring Devices and Geography. Based on Diagnostic Devices, market is segmented into spirometers, and peak flow meter. Based on Monitoring Devices, market is segmented into sleep test devices, gas analyzers, pulse oximeters, and capnograph. Pulse Oximeters dominate the market because of their accurate and fast results. Pulse oximeter is expected to be top segment for the coming years too because of its better diagnostic results compared to others.
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Geographically, this market is further segmented in to North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. North America Dominates the Global market with a share of 37% and is expected to stay at the top for few more years. Asia-Pacific is increasing at the highest CAGR because of increase in technological advancements and rise in disposable incomes.
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Key players in this market are Covidien GE Healthcare, Philips Healthcare, Siemens Healthcare, Resmed, Merck & Co. Inc, Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Access Pharmaceuticals Inc., Sirnaomics Inc., and Traversa Therapeutics Inc.
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