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Respiratory monitoring devices are undergoing rapid technological advances with solutions such as connected devices, wearables, and applications being introduced in the industry. Such advancements are made to solve current industry challenges such as low diagnosis rate, low patient adherence and lack of skilled workforce among others. Key vendors have started offering supporting apps and platforms which, in turn, are increasing patient engagement, therapy adherence, training and enhanced monitoring. Furthermore, artificial intelligence and machine learning based predictive analytics tools are incorporated into the respiratory device to provide early warning systems and early disease diagnosis.

Demand for remote monitoring solutions including respiratory devices is growing rapidly owing to increasing pressure on healthcare resources as well as growing healthcare costs. Moreover, the COVID-19 pandemic has augmented the demand for respiratory devices such as ventilators, pulse oximeters, and oxygen concentrators. Adoption of respiratory devices in the outpatient setting and homecare settings is estimated to grow rapidly, thereby supporting growth of connected respiratory monitoring devices and wearables.