The global acoustic respiration sensors market is expected to be worth US$ 232.4 million in 2022. The market is predicted to grow at a CAGR of 6.6% from 2022 to 2032, with a market value of US$ 470.1 million. The growing number of respiratory disorders, as well as improved knowledge about respiratory health, are driving the growth of this market.
“Respiratory diseases are a leading cause of death in both children and adults, fuelling the demand for respiratory monitoring devices. Furthermore, advances in sensor technology have resulted in an increase in adoption rates among hospitals and clinics, thus, the market is projected to experience a notable expansion in the forthcoming period.”
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This technology utilizes innovative adhesive sensors with an acoustic transducer and hence continuous monitoring of breathing patterns takes place.
The product is beneficial to identify evolving respiratory disorders and provide quick therapeutic response to the patients in order to minimize the risk of dangerous respiratory events.
Acoustic Respiration Sensors Market: Dynamics
Acoustic respiration sensors market in the healthcare sector is primarily driven by a few key factors such as the use of respiratory sensors to provide non-invasive and continuous monitoring to patients.
The growing incidence of respiratory disorders, aging population, and rise in life expectancy.
In addition to this acoustic respiration sensors market also observes significant growth due to increasing healthcare expenditure in developing countries.
Acoustic respiration sensors market gains a great drive from use in addressing evolving respiratory issues.
The market is also driven by rising awareness which is created by various associations among the end users, such as The Anesthesia Patient Safety Foundation (APSF) recommends the use of multiple parameters, like pulse oximetry and respiration rate, to detect respiratory disorders before it progresses to respiratory failure.
This technology is a boon for healthcare industry as it provides an early warning of respiratory distress and allows the physicians and other healthcare providers to provide early and possibly improve the safety and health of patients.
Acoustic respiration sensors market is driven by the new product approvals by various regulatory agencies across the globe. Acoustic respiration sensors market, however, leads to high product costs which limit the usage of acoustic respiratory sensors.
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Acoustic Respiration Sensors Market: Region-wise Outlook
Based on geography, the acoustic respiration sensors market is segmented into seven major regions: North America, Eastern Europe, Latin America, Western Europe, Asia-Pacific excluding Japan, Japan and Middle East & Africa. At present, North America holds a leading position in the acoustic respiration sensors market followed by Europe. North America market is driven by the regulations of the US Food and Drug Administration. Such regulations and approval are likely to boost the acoustic respiration sensors market in the North American region in the coming years.
Following North America, Easter European countries are also anticipated to show steady growth in the acoustic respiration sensors market. In the next few years, Asia-Pacific would show remarkable growth in the acoustic respiration sensors market as it is developing at a very rapid pace and has shown the emergence of many regional players.
The factors which would fuel the growth of acoustic respiration sensors market in Asia-Pacific are rising healthcare infrastructure and rapid development of the healthcare infrastructure across the Asian countries. Acoustic respiration sensors market would evolve at a rapid rate across the regions. However, North America would maintain its position in the overall acoustic respiration sensors market.
Acoustic Respiration Sensors Market: Key Players
Major players in respiration rate monitors market are GE Healthcare, Siemens Healthcare, Philips Healthcare, Medtronic Plc, Masimo Corporations, ResMed Inc., Smiths Medical, Dragerwerk Ag & Co. KGaA, MGC Diagnostic Corporation, Nihon Kohden Corporation, Welch Allyn, Inc and others.
The other leading player in the acoustic respiration sensors market is Medtronic Public Limited Company which has its product for respiratory rate monitoring. Acoustic respiration sensors market has a presence of many regional players and multi-national players which have a huge market share in emerging countries and developed economies.
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Acoustic Respiration Sensors Market: Segmentation
The market for acoustic respiration sensors is segmented into patient age groups, distribution channels and regions.
Acoustic respiration sensors market is segmented on the basis of products available for various age groups:
Adults
Pediatrics
On the basis of distribution channels we can segment the acoustic respiration sensors market into:
Specialized Care Centers
Online Sales
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