Increasing respiratory illnesses due to poor air quality to push global respiratory monitoring devices market up
According to a report published by Transparency Market Research, the global respiratory monitoring devices market is expected to rise based on increasing prevalence of respiratory diseases due to poor air quality. In the US alone, 15% of the adult population is affected by airway diseases annually, which include chronic obstructive pulmonary disease (COPD) and asthma leading to over 1,100,000 hospitalizations, 15,000,000 lost work days, and 120,000 deaths translating into an expected cost of USD23 billion to public funds. As of now, North America is leading the market with the largest share of 36.3% due to continuous technological developments resulting in the introduction of new medical devices. Globally, CareFusion led the market in 2014 based on a large product portfolio and widespread geographical presence. Among the major players of this market are GE Healthcare, ResMed, Smiths Medica, COSMED, Masimo, and MGC Diagnostic Corporation.
(Image Courtesy: Thenanfang)