The global respiratory diagnostic and monitoring device market is predicted to exhibit huge expansion in the coming years. The increasing incidence of chronic diseases, the ballooning air pollution levels, and the soaring geriatric population all over the world are the main factors fueling the progress of the market. The surging population of smokers in several countries is another major factor driving the market advancement. The rapidly improving healthcare infrastructure in developing nations is creating growth opportunities for the market players.
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When end user is taken into consideration, the respiratory diagnostic and monitoring device market is categorized into home care and hospital. Between the two, the home care category will demonstrate higher growth rate in the market in the forthcoming years, as per the estimates of P&S Intelligence, a market research firm based in India. This would be a result of the soaring population of geriatric people and the increasing usage of various home-based health solutions across the world.
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Globally, the respiratory diagnostic and monitoring device market is currently registering the highest growth in North America. The main factors driving the advancement of the market are the increasing incidence of respiratory diseases, the surging geriatric population, and the rapid launch of several technologically advanced and innovative products in the region. Geographically, the market is recording the second-highest growth in Europe currently, on account of the high pollution levels and the incidence of respiratory diseases in the region.
Hence, it can be said with surety that the market would register rapid advancement all over the world in the upcoming years, mainly because of the growing incidence of respiratory and chronic diseases, the rising air pollution levels, and the increasing healthcare spending around the world.
