USD 310.63 million
Report ID: SQMIG35C2013 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 66 | Figures: 75
Global Intelligent Asthma Monitoring Devices Market size was valued at USD 310.63 million in 2021 and is poised to grow from USD 566.26 million in 2022 to USD 1696.7 million by 2030, growing at a CAGR of 25.1% in the forecast period (2023-2030).
Intelligent asthma monitoring devices are used to monitor asthma and prevent asthma attacks & related complications. The global market growth is attributed to increase in air pollution, increase in the population susceptible to indoor air pollutants, and an alarming rise in the prevalence of COPD & asthma globally. Further, increasing adherence to smart inhalers and the transformation from physician-centered to patient-centered model, increasing collaboration between pharmaceutical companies and smart inhaler manufacturers, and a surge in the incidence of asthma cases are the factors that propel the market growth.
In the healthcare sector, technologically advanced digital devices are used that alert patients of a possible asthma attack. These devices have the ability to monitor adherence, provide access to data so that it can be transported to a personal device, and accurately record the time of each dose taken by the patients. The use of mobile health and web applications, wearables, and other personal monitoring devices to improve asthma management has enormous promise.
US Intelligent Asthma Monitoring Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 310.63 million
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Global Intelligent Asthma Monitoring Devices Market is segmented into product, end user, and region. Based on product, the Intelligent Asthma Monitoring Devices Market is segmented into wearable asthma monitoring devices, smart inhalers, inhalers, dry powdered inhalers (DPI’s), Metered dose inhalers (MDI’s), and nebulizers. Based on end-user the Intelligent Asthma Monitoring Devices Market is segmented into hospitals, clinics, and home use. Based on region, the Intelligent Asthma Monitoring Devices Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Intelligent Asthma Monitoring Devices Market Analysis by Product
Based on product, the global market is segmented into wearable asthma monitoring devices, smart inhalers, inhalers, dry powdered inhalers, metered dose inhaler, and nebulizer.
The smart inhaler segment is expected to dominate the market and it is expected to grow at the highest rate during the forecast period due to an increase in acceptance of smart inhalers and patient compliance.
Intelligent Asthma Monitoring Devices Market Analysis by End User
Based on end-user the global market is segmented into hospitals, clinics, and home use. The hospital segment is expected to lead the global market and it is projected to grow at a significant pace during the forecast period. On the contrary, the home use segment is expected to have the fastest growth rate during the forecast period due to the increase in the number of phone-based apps and the handling of smart inhalers with ease.
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Global intelligent asthma monitoring devices market can be segmented into five major regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
North America is expected to have the largest Global Intelligent Asthma Monitoring Devices Market share during the forecast period. Market growth in this region is due to rising awareness among people and the increasing prevalence of allergic reactions.
Europe is expected to be the second leading market and record significant sales of intelligent asthma monitoring device market. However, the sluggish economy in this region may hamper the growth of the market.
Asia Pacific region is projected to expand at a high CAGR due to rising population level, increasing prevalence of asthma, and surge in focus on enhancing treatment.
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Intelligent Asthma Monitoring Devices Market Driver
Increasing Prevalence of Asthma and Subsequent Adoption of Smart Inhalers is Bolstering Market Growth
Intelligent Asthma Monitoring Devices Market Restraint
Lack of Knowledge about the Effective use of Smart Inhalers and Nebulizers to Cause Hindrance
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Global intelligent asthma monitoring device market is highly fragmented. The players adopted the key strategies to strengthen their position in the global market which is as follows- product launches, mergers & acquisitions, joint venture, and geographical expansion.
Intelligent Asthma Monitoring Devices Market Top Player’s Company Profiles
Leading Players in the Market are Investing in Technological Advancements
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global intelligent asthma monitoring devices market analysis, players in the market can gain an edge over their competitors by investing in R&D activities. They are also collaborating with end-user industry players and expanding their geographical reach. Self-monitoring devices will witness a surge in demand due to advancements. The market will go through evolution as demand rises. The alarming rate of pollution remains one of the major factors driving the market’s demand during the forecast period.
|Market size value in 2021||USD 310.63 million|
|Market size value in 2030||USD 566.26 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Intelligent Asthma Monitoring Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Intelligent Asthma Monitoring Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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