Global Respiratory Monitoring Devices Market 2019-2023
About this market
Chronic respiratory diseases such as chronic obstructive respiratory diseases (COPD) and asthma affect the airways and lungs. They are primary caused by dust, air pollution, tobacco smoke and occupational chemicals. Patients who suffer from chronic respiratory diseases such as COPD and asthma are advised to undergo continuous monitoring in order to identify the risks associated. The increase in number of people suffering from respiratory diseases such as pneumonia and chronic sinusitis is resulting in the growing demand for respiratory monitoring diseases. Technavio’s analysts have predicted that the respiratory monitoring devices market will register a CAGR of over 8% by 2023.
Acquisition of small specialized hospitals by Tier-1 hospitals
The growing acquisition of small hospitals by tier- 1 hospitals has helped the latter to increase their service base and expand their presence. Also, through these acquisitions, the staff working in small hospitals gets trained in the latest and advanced respiratory monitoring devices.
Competitive pricing between global and local vendors
Pricing is the main factor driving the competition, which results in low profit margins. Local vendors offer products at low cost compared with the global vendors, which allows customers to opt for the former.
For the detailed list of factors that will drive and challenge the growth of the respiratory monitoring devices market during the 2019-2023, view our report.
The respiratory monitoring devices market is moderately fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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