Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Wireless Device to Monitor Lung Sounds Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, Feb. 23, 2021 (GLOBE NEWSWIRE) -- The Global Wireless Device To Monitor Lung Sounds Market is expected to grow at a CAGR of around 6.3% from 2020 to 2027 and reach the market value of over US$ 8.5 Bn by 2027.
North America is will dominate the wireless device to monitor lung sounds market in the forthcoming years. The factors responsible for the growth involve a large patient base suffering from lung disorder in the region. Chronic obstructive pulmonary disorder (COPD) is a leading cause of death in the US. It affects 16 million Americans annually as per the statistics released by the American Lung Association. In 2016, more than 8.9 million Americans were diagnosed with chronic bronchitis and nearly 75 percent of cases involved over the age of 45. Additionally, women have chronic bronchitis at almost double the rate of men. 5.9 million women had been diagnosed with chronic bronchitis in the past 12 months as opposed to 3 million men who had been diagnosed during this time. Such factors bolster the demand for wireless devices to monitor lung sounds market.
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On the other hand, Europe will gain significant pace in the coming years owing to the consistent ongoing clinical research for ultrasound, expansion in the clinical applications of focused ultrasound and early commercialization of the devices in the European market for wireless devices to monitor lung sounds.
Market opportunity
Expansion of ultrasound industry
Surge in minimal invasive therapies and image-guided procedures are adopted at high pace by the healthcare professionals and patients worldwide. The ultrasound industry has witnessed a paradigm shift from being a conventional diagnostic model for therapeutic techniques. It can be expected from such efforts that it will open new avenues of revenue growth for manufacturers in the global market.
Market Challenges
Due to high prices of novel ultrasound techniques and budget constraints faced by small-sized healthcare providers, the preference for wireless devices to monitor lung sounds has grown tremendously. Moreover, the growing preference for refurbished systems, is therefore, anticipated to pose a significant challenge to market growth of wireless devices to monitor lung sounds.
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Segmental Outlook
Wireless device to monitor lung sounds market is segmented based on technology, device display, and end-user.
Based on technology, market is bifurcated into diagnostic ultrasound and therapeutic ultrasound. By diagnostic ultrasound, the market is segregated as 3D & 4D ultrasound and Doppler ultrasound. By therapeutic ultrasound it is divided as high intensity focused ultrasound (HIFU) and extracorporeal shockwave lithotripsy (ESWL). By device display, it is classified into color ultrasound and B/W ultrasound. Further, by end-user, it is segmented as hospitals, surgical centers, and diagnostic centers, ambulatory surgical centers, research and academia, and among others.
Based on technology, diagnostic ultrasound segment will register significant market share for the wireless device to monitor lung sounds in the forecast period. Additionally, based on end-users, hospitals, surgical centers, and diagnostic centers dominate the global market for wireless devices to monitor lung sounds market.
Competitive Landscape
Key companies profiled in this report involve GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Siemens Healthineers AG, Hitachi, Ltd., Samsung Electronics, Ltd., and FUJIFILM Holdings Corporation. Other players involve Esaote S.p.A., Mindray Medical International Ltd., Shimadzu Corporation, Analogic Corporation, Carestream, Hologic, Mobisante, and Chison Medical Imaging.
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Some of the key observations regarding Wireless Device to Monitor Lung Sounds industry include:
- In April 2020, Koninklijke Philips N.V. announced launching of new Philips Respironics E30 ventilator to help free up ICU units during the pandemic of COVID-19. Designed for mass production the specialization involves: the device can be used both invasively and non-invasively. Additionally, quick setup and simple operations, ability to accept high-flow oxygen, visual and audible alarms that offer pertinent therapy information to healthcare providers.
- In April 2020, Coala Life, a leading digital health company announced that it has received approval from Food and Drug Administration (FDA) for heart monitor and lung exams at patient's home. This has expanded the company product portfolio that enables physicians to remotely, monitor in real time, monitor heart and lung sounds.
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