(PharmaNewsWire.Com, June 23, 2017 ) The Latin America Respiratory Monitoring Devices System Market had a market value of USD 2.27 billion in 2016 and is forecasted to exhibit a CAGR of 10.4% and reach USD 3.72 billion by 2021. Respiratory Monitoring Devices are used individually or clinically to find amount of air we can inhale or exhale, Saturated oxygen in blood or amount of Carbon dioxide in the body.
Respiratory Diseases are rising ceaselessly in view of decline in air quality, urbanization and reduction in number of trees. Rise in number of smokers all around is likewise a reason for prevalence of respiratory diseases. Respiratory Monitoring Devices became possibly the most important factor due to the ascent in respiratory diseases and high clinical expenses. With Respiratory Monitoring Devices, Clinical care is moved to home care.
There are many factors that are driving this market like increase in aging population, Prevalence of COPD Globally, rise in number of Smokers, Development of advanced Technology and rise in healthcare expenditure in emerging countries. Emerging markets and increasing investments by major players are also driving the market globally. But factors like huge price of Monitoring Devices and increased complexity are restraining the market growth. Latin America Respiratory Monitoring Devices Market is segmented based on Diagnostic and Monitoring Devices. Based on Diagnostic Devices, market is segmented into spirometers, and peak flow meter. Based on Monitoring Devices, market is segmented into sleep test devices, gas analyzers, pulse oximeters, and capnograph. Pulse Oximeters dominate the market because of their accurate and fast results. Pulse oximeter is expected to be top segment for the coming years too because of its better diagnostic results compared to others.
Geographically, this market is further segmented in to Brazil, Argentina and Mexico. This market is rising at a significant rate because of increasing disposable incomes and growing markets.
Key players in this market are Covidien GE Healthcare, Philips Healthcare, Siemens Healthcare, Resmed, Merck & Co. Inc, Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Access Pharmaceuticals Inc., Sirnaomics Inc., and Traversa Therapeutics Inc.
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