Rising Lung Disease Incidence Driving Respiratory Diagnostic and Monitoring Device Market

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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.
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The growing healthcare sector in developing nations is one of the key trends in the respiratory diagnostic and monitoring device market. The high operating margins and fragmented healthcare industry in emerging countries provide more opportunities to the market players. Due to the improving healthcare infrastructure and large population base, countries such as India and China show immense healthcare market growth potential. Furthermore, the rapid urbanization and increasing income level are leading to a surging demand for respiratory diagnostic and monitoring devices in these countries. 

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.
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