Market Research Future (MRFR) has published a Half cooked research report on the “Global Digital Respiratory Devices Market” that contains information from 2023 to 2032.
The global digital respiratory devices market is accounted to register a CAGR of 25.50% during the forecast period and is estimated to reach USD 181.9 Billion by 2032.
The market is expanding as a result of the sharp increase in the prevalence of severe chronic respiratory diseases (CRDs), such as bronchial asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, lung disorders, and pulmonary hypertension (PH). The risk of developing CRDs is constantly increasing due to factors such an ageing population, smoking, increased air pollution, and occupational exposure to dust in the mining, forestry, and agricultural sectors. The market for respiratory management solutions is therefore rapidly growing. The COVID-19 pandemic has made clinical testing, regulatory procedures, and post-approval activities more challenging. Challenges with patient enrollment, treatment, and recruitment for clinical research are mostly to blame for this. The usage of smart inhalers is anticipated to increase in the post-pandemic era as healthcare providers turn to connected medical devices to ensure that patients receive the best care and guidance available, regardless of the circumstance. This is because a lot of patients suffered because the pandemic's restrictions prevented them from receiving consultations and treatments in person. The epidemic demonstrated how dangerous respiratory illnesses can become if not treated swiftly and effectively. Digital inhalers help asthma and COPD patients better manage their prescriptions and receive hands-on clinical care, according to the evidence that is currently available.
MRFR recognizes the following companies as the key players in the global Digital Respiratory Devices market— COHERO Health Inc, Cognita Labs, Adherium Limited, Amiko Digital Health Limited, Teva Pharmaceuticals Industries Ltd., Propeller Health, Novartis AG, Pneuma Respiratory Inc., 3M Health Care Limited, AireHealth, Inc., and FindAir Sp. z o.o.
The global digital respiratory devices market has been segmented based product, indication, distribution channel and end use.
On the basis of product, the market is segmented into smart inhalers & nebulizers and sensors & apps. The smart inhalers & nebulizers segment was attributed to holding the largest market share in 2022. This demand is expected to be influenced by factors such as rising air pollution levels, increased rates of asthma and other respiratory illnesses, and growing consumer interest in digital respiratory devices. Additionally, studies have shown that people with COPD and asthma use smart inhalers more frequently.
Based on Indication, the global digital respiratory devices market has been segmented into asthma, COPD, and other diseases. The COPD segment was expected to hold the largest market share in 2022. Additionally, slightly more than 8% of all chronic diseases worldwide are respiratory ailments. According to a World Health Organisation prediction issued in 2020, COPD would surpass ischemic heart disease and HIV/AIDS to become the fourth-leading cause of mortality by 2030.
Based on distribution channel, the global digital respiratory devices market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment was expected to hold the largest market share in 2022. Elderly people commonly seek medical attention for a range of chronic respiratory diseases, and they also purchase their prescription from hospital pharmacies. In order for patients to receive their medications quickly, hospital pharmacies also supply medical staff with medication supplies.
Based on end use, the global digital respiratory devices market has been segmented into hospitals, homecare settings, and other settings. The hospitals segment was expected to hold the largest market share in 2022. The market for hospitals is anticipated to grow significantly over the next few years as a result of expanded public-private partnerships, quick improvements in healthcare infrastructure, and improved access to healthcare services. The market segments include of hospitals, homecare settings, and other settings.
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The global Digital Respiratory Devices market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Digital Respiratory Devices market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Digital Respiratory Devices market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Digital Respiratory Devices market comprises of Middle East, Africa, and Latin America.
The largest market share for Digital Respiratory Devices was maintained by the North American regional sector. This is brought on by an increase in the prevalence of chronic respiratory diseases such as asthma, COPD, and others. Asthma affects more than 25 million Americans. Additionally, 150,000 Americans, or one every four minutes, die from COPD each year, affecting 14.8 million people in the country.
Moreover, the Europe market has been persistently growing over the forecast period. Significant improvements in digital respiratory products are predicted to drive market expansion over the projection period, along with their increased acceptance and accuracy.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. This expansion is primarily due to rising COPD and asthma incidence rates in China and India. COPD, a serious public health hazard, is the leading cause of disability in China. In May 2020, China approved AstraZeneca's Bevespi Aerosphere, which is used to treat COPD symptoms such chronic bronchitis and/or emphysema.
Furthermore, the rest of the world's Digital Respiratory Devices market is divided into the Middle East, Africa, and Latin America. LAMEA collects real-time data on a range of respiratory characteristics, such as lung capacity, airway resistance, and breathing patterns. It does this by utilising cutting-edge sensor technology and wireless communication. The non-invasive device is simple for the user to wear or carry and enables continuous monitoring of respiratory health in daily activities.
Key Findings of the Study