Newark, New Castle, USA, May 05, 2023 (GLOBE NEWSWIRE) -- In accordance with the most recent analysis by Growth Plus Reports, the global market for asthma monitoring devices was estimated to be worth US$ 738.1 million in 2022 and is expected to expand at a revenue CAGR of 7.3% to reach US$ 1,391.6 million by 2031.
The global market for asthma monitoring devices was analyzed and is expected to rise significantly during the forecast period. Asthma is a common but complex heterogeneous inflammatory disorder of the airways. Despite significant progress in understanding the pathophysiology and therapy of asthma, it remains a primary cause of mortality and morbidity.
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Asthma Monitoring Devices Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 738.1 million |
| Market Size Value in 2031 | US$ 1,391.6 million |
| Growth Rate | CAGR of 7.3% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Type, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Key Takeaways:
- The rising prevalence of asthma, COPD, and other respiratory disorders drives the market revenue share.
- Increasing technological advancements and AI in healthcare are driving the demand for products.
- Increasing consumer awareness and adoption of home healthcare are propelling the market revenue growth.
Recent Development in the Global Asthma Monitoring Devices Market:
- In January 2023, Tueo Health, a firm focused on improving respiratory health management for children with asthma, was bought by Apple. The company will most likely improve its iPhone Health app by adding additional functionalities through this acquisition. Tueo Health's technology includes sensors that monitor breathing and sleeping habits, and this technology might be integrated into Apple's health monitoring functions.
Competitive Landscape
The following is a list of the leading market participants in the global market for asthma monitoring devices:
- Koninklijke Philips N.V.
- GlaxoSmithKline Plc
- F. Hoffmann-La Roche Ltd.
- Medtronic Plc
- Siemens Healthineers
Market Drivers and Restraints:
The rising prevalence of asthma and related respiratory disorders with lifestyle changes and habits like smoking drives the global asthma monitoring devices market revenue. Furthermore, the advanced treatment strategies, and consumer awareness of using these devices, contribute to market revenue growth.
However, inaccurate readings due to the irregular updates by patients and calibration-related issues are expected to restrain revenue growth of the global asthma monitoring devices market.
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Market Segmentation:
Segmentation By Type
Based on types, the global asthma monitoring devices market is segmented into spirometry, peak flow meter, FeNo testing devices, and smart inhalers. Due to the solution to better management of respiratory disorders, the small inhaler segment accounts for the largest market revenue share.
Segmentation By End User
Based on the end-user, the global asthma monitoring devices market is segmented into home care, hospital and clinics, and ambulatory care centers. The home care segment accounts for the largest revenue share, portable asthma monitoring equipment availability, ease of use, and personalized treatments.
Regional Growth Dynamics
Based on the region, the global asthma monitoring devices market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to a well-developed healthcare system that provides easy access to healthcare services and a large disposable income, allowing patients to spend on cutting-edge healthcare technologies, North America accounts for the largest revenue share in the global market.
Report Coverage
Growth Plus Reports studied the global market for asthma monitoring devices in-depth. Basic market features, important investment sectors, analyses of regional growth, revenue projections, rival market participants, and mergers and acquisitions were all examined.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL ASTHMA MONITORING DEVICES MARKET - ANALYSIS & FORECAST, BY TYPE
- Spirometry
- Peak Flow Meters
- FeNo Testing Devices
- Smart Inhalers
- Others
- GLOBAL ASTHMA MONITORING DEVICES MARKET - ANALYSIS & FORECAST, BY END USER
- Home Care
- Hospital and Clinics
- Ambulatory Care Centers
ASTHMA MONITORING DEVICES MARKET TOC
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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