Dublin, Feb. 23, 2024 (GLOBE NEWSWIRE) -- The "Europe Respiratory Monitoring - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2021 - 2029" report has been added to ResearchAndMarkets.com's offering.
The Europe Respiratory Monitoring Market size is estimated at USD 1.16 billion in 2024, and is expected to reach USD 1.75 billion by 2029, growing at a CAGR of 8.60% during the forecast period (2024-2029).
The COVID-19 pandemic had a significant impact on the market initially as respiratory monitoring was widely used to monitor the conditions of coronavirus-infected patients. The ECDC in its October 2021 report on COVID-19 surveillance guidance indicated that the severity of the respiratory infection was to be monitored and reported weekly to ECDC. Such activities added to the growth of the studied market in the initial phase of the pandemic. However, currently, as the pandemic has subsided and fewer people are getting infected with the virus, the studied market is expected to have stable growth during the forecast period of the study.
The increasing prevalence of respiratory diseases, technological advancements, and the growing geriatric population are expected to drive market growth over the forecast period. Chronic obstructive pulmonary disease (COPD) is a life-threatening lung disease that interferes with normal breathing. According to an article published by the European Respiratory Journal in September 2021, it is estimated that 49,453,852 people will have COPD with a prevalence of 9.3% by the end of 2050. The article also stated that by 2050, there will be approximately 7.6 million, 7 million, and 4.8 million people affected with COPD in Germany, the United Kingdom, and Spain respectively. Thus, the high prevalence of COPD is anticipated to drive the respiratory monitoring market in Europe.
Additionally, factors such as a rise in the number of smokers, urbanization, growing pollution levels, and the development of advanced technologies will increase the demand for respiratory devices in healthcare facilities. Also, the recent product launches by the key market players in the region are expected to boost market growth. For instance, in April 2022, SCHILLER France SAS launched the MRI-compatible patient monitor MAGLIFE RT-1 with the ability to monitor respiratory mechanics through its spirometry option. Such product launches in the region are expected to significantly add to the growth of the studied market over the forecast period.
However, the high price associated with the devices is expected to hinder the growth of the market to a certain extent over the forecast period.
A selection of companies mentioned in this report includes
- Draegerwerk AG
- GE Healthcare
- Koninklijke Philips N.V.
- Maquet (Getinge AB)
- Medtronic
- COSMED srl
- Resmed
- Koko PFT
- Vitalograph Ltd
- Siemens Healthcare GmbH
For more information about this report visit https://www.researchandmarkets.com/r/7fbydw
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