Global Intelligent Asthma Monitoring Devices Market
The global intelligent asthma monitoring devices market is expected to grow significantly from USD 55.8 million in 2018 to USD 805.6 million in 2025, at a CAGR of 44.4% from 2019 to 2025. Factors driving the market growth are disease burden associated with increasing aging population, and rising prevalence of asthma and chronic obstructive pulmonary disease (COPD) across the globe. On the other hand growing adoption of smart inhalers, and rising awareness among people and increasing the acceptability of inhaler treatment are further boosting the industry growth.
Intelligent asthma monitoring device is a flexible, wearable Internet of Things device, which communicates with smart phone app and web portal using WiFi, Bluetooth, and cellular connections. The device attaches to the upper torso using skin safe adhesive and tracks precursor symptoms of asthmatic attack. Asthma is a common chronic disease that affects approximately 339 million people worldwide. It is a cause of substantial burden of disease, including both premature death and reduced quality of life, in people of all age. Asthma continues to be a major source of global economic burden in terms of both direct and indirect cost.
Smart Technology in Healthcare Revolutionizing the Asthma Treatment
Smart technology in healthcare is rapidly expanding for asthma management and includes mobile applications and electronic monitoring devices. Smart inhaler technology revolutionizes the treatment of asthma and other lung diseases. The smart inhaler platforms enable the physicians to effectively monitor the inhalation technique and captures various factors including flow speeding, stimulus time, inhalation flow rate, inhalation volume as well as the patient’s usage of the inhaler. Moreover, the growing number of benefits of using smart inhalers include better asthma control, improved quality of life and increased awareness of environmental triggers (tobacco smoke, chemical irritants, air pollution, and indoor or outdoor allergens). Furthermore, growing number of major medical devices and pharmaceutical companies are moving towards digital technology. According to Global Asthma Network Australia, Northern and Western Europe, and Brazil have the highest rates of asthma worldwide.
Key findings from the report:
- The global intelligent asthma monitoring devices market is expected to reach USD 805.6 Million by 2025 at a CAGR of 44.4% during 2019-2025
- Based on product type,
- The smart inhalers segment holds the major share of the global market in 2018, owing to technological advancements and growing number of product developments. Moreover, growing number of major key players use the digital technology.
- The wearable asthma monitoring devices segment held the significant share of the global market in 2018
- On the basis of end-user, the hospitals segment held the major share of the global market in 2018
- Geographically, North America held the major share of the global market in 2018, and Asia-Pacific is anticipated to be the fast growing market over the forecast period
- Some of the key companies operating in the market include Health Care Originals, Vectura Group plc, 3M, Adherium Limited, Findair Sp. z o. o., Cohero Health, Inc., Teva Pharmaceutical Industries Limited, Koninklijke Philips N.V, AstraZeneca plc, Propeller Health, Respiri, Amiko Digital Health Limited., and Connect’Inh
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The report provides the market value for the base year 2018 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments intelligent asthma monitoring devices market on the basis of product type, end-user, and region.
By Product Type
- Wearable Asthma Monitoring Devices
- Smart Inhalers
- Dry-Powdered Inhalers
- Metered Dose Inhalers
- Home Care Settings
- Ambulatory Surgical Centers
- North America
- Central & South America
- Middle East and Africa (MEA)
Rising Prevalence of Asthma and COPD Disease Driving the Intelligent Asthma Monitoring Devices Market Growth; to Witness a CAGR of 44.4 % during 2019-2025
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