Global rise in air pollution, increase in population susceptible to indoor air pollutants, growing adherence to smart inhalers, and surge in incidences of asthma cases drive the growth of the global intelligent asthma monitoring devices market. However, misusing data & data privacy and resistance toward adoption of smart inhalers restrain the market to some extent. On the other hand, increased focus toward advanced treatment protocols and significant unmet need in respiratory care present new opportunities in the upcoming years.
According to the report published by Allied Market Research, the global intelligent asthma monitoring devices market size was valued at $180.5 Million in 2020, and is projected to reach $1,696.7 Million by 2030, registering a CAGR of 25.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, Considerable increase in the incidence of asthma is majorly attributed to rise in allergic reactions toward pollen, dust, and other allergens; increase in geriatric population; and technological advancements in the intelligent asthma monitoring devices notably contribute toward the growth of the global market.
Intelligent asthma monitoring device is used to monitor asthma and prevent asthma attacks & related complications. The growth of the global intelligent asthma monitoring devices market is driven by increase in air pollution. Increase in susceptibility to asthma due to indoor air pollutants and alarming rise in prevalence of COPD & asthma globally are expected to augment the market growth.
COVID-19 Impact Analysis-
- The outbreak of the COVID-19 pandemic has had a positive impact on the global intelligent asthma monitoring devices market.
- Rise in prevalence rate of chronic respiratory diseases is expected to further drive the growth of the respiratory monitoring devices market in the post pandemic period.
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North America was the leading revenue contributor to the global intelligent asthma monitoring devices market, generating $72.6 million in 2020, and is expected to reach $439.1 million by 2030, registering a CAGR of 23.8% during the forecast period.
However, Asia-Pacific is expected to grow at the highest CAGR of 27.3% during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness about intelligent asthma monitoring devices.
This is attributed to the early approval of asthma monitoring devices and rapid usage of these devices due to rise in prevalence of asthma and asthma attacks.
Leading players of the global intelligent asthma monitoring devices market analyzed in the research include Adherium, Astrazeneca, Cohero Health Inc, Glaxosmithkline PLC, Health Care Originals, Koninklijke Philips N.V, Propeller Health, Teva Pharmaceuticals Industries Ltd., Vectura group Plc., and Volansys Technologies.
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