Increase in the number of asthma cases and asthmatic attack plays a major role in the growth of the intelligent asthma monitoring devices market. Furthermore, increase in adoption of latest phone-based apps and smart inhalers in the developing countries is expected to boost the growth of the global intelligent asthma monitoring devices market in the coming years.
The global intelligent asthma monitoring devices market accounted for $20 million in 2017 and is expected to reach $655 million by 2025, registering a CAGR of 54.5% through 2025.
Smart inhalers segment to be lucrative through 2025
Smart inhalers segment held the largest share in 2017, contributing more than four-fifths of the total market revenue. Moreover, the segment is expected to manifest the fastest CAGR of 57.0% during the forecast period because these devices are used for monitoring drug dose and improving drug administration time to identify asthma attack and avoid further complications. The other segment of wearable asthma is also analyzed in the report.
The home use segment is anticipated to grow exponentially at CAGR of 53.8% from 2018 to 2025, as these products are user-friendly, help avoid severe attack due to real-time monitoring, and assist in drug dose and time of medication. However, hospitals segment held the largest share in 2017, contributing about two-fifths of total revenue, as it offers basic services for asthma monitoring along with availability of skilled nurses and trained professionals.
Asia-Pacific to grow the fastest through 2025
Asia-Pacific region is projected to grow at the fastest CAGR of 56.7% through 2025, owing to presence of high patient base, increase in healthcare expenditure by the populace, and technology advancements to launch cost-effective devices. However, North America held the largest share in 2017, contributing more than two-fifths of the total market revenue, owing to increased awareness about intelligent asthma monitoring devices among healthcare professionals & patients, availability of trained healthcare personnel, and high reimbursement policies. The other regions analyzed in the report include Europe and Latin America, Middle East and Africa (LAMEA).
The key market players analyzed in the report include
- Vectura Group plc
- Teva Pharmaceutical Industries Ltd. (Gecko Health Innovations)
- Qualcomm Life
- Health Care Originals
- GlaxoSmithKline plc
- Propeller Health
- Adherium Limited
- AstraZeneca plc
- Philips Healthcare
- Volansys Technologies.
Key Findings of the Intelligent Asthma Monitoring Devices Market:
- Based on product, the smart inhaler segment is expected to experience rapid growth in the market and is projected to grow at a CAGR of 57.0% from 2018 to 2025.
- Based on end user, the hospital & clinic segment held approximately half of the global market share in 2017 and is expected to remain dominant throughout the forecast period.
- Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 56.7% during the forecast period.
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