Increasing Prevalence of Asthma Has Propelled the Growth of the Asthma Monitoring Device Market in the North America Region!
- Himanshu Patni
- November 18, 2023
- HEALTHCARE, NEWS
- Asthma Monitoring Device Market, Asthma Monitoring Device Market Share, Asthma Monitoring Device Market Size, Asthma Monitoring Device Market Trends
- 0 Comments
The asthma monitoring device market in North America is a rapidly growing market, driven by the increasing prevalence of asthma and the need for effective asthma management. Asthma is a chronic respiratory disease that affects millions of people in North America, and it can cause symptoms such as wheezing, coughing, and shortness of breath. Moreover, the increasing use of technology such as wearable devices, inhalers with sensors, and mobile applications, are becoming more popular which will drive the growth of the market.
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Further, the North America asthma monitoring device market is expected to grow at a strong CAGR of 7.0% during the forecast period (2022-2030). The asthma monitoring devices market in the U.S. is propelled by several factors such as the country having a high prevalence of asthma, and the growing demand for effective monitoring devices for disease management. Additionally, the U.S. boasts a technologically advanced healthcare industry, fostering the adoption of innovative monitoring solutions. The strong healthcare infrastructure, and high healthcare expenditure of the country, including leading healthcare organizations and research institutions, support the development & distribution of asthma monitoring devices. For instance, according to the Centers for Medicare and Medicaid Services, U.S. healthcare spending grew 2.7% in 2021 to reach USD 4.3 trillion, or USD 12,914 per person. Also, medical expenditure accounted for 18.3% of gross domestic product.
FIG. 1 APAC Asthma Monitoring Device Market Revenue (2020-2030) – USD Mn
Based on device, the market is segmented into spirometer, peak flow meter, and smart inhalers. The smart inhalers category is to witness higher CAGR during the forecast period owing to the increasing focus on patient-centric care, the need for improved medication adherence, and the rising adoption of digital health solutions. The integration of smart inhalers with telehealth platforms and electronic health records further enhances their market potential.
Based on end-user, the asthma monitoring device market has been classified into hospitals & clinics, homecare, and diagnostic laboratories. The homecare category is to witness higher adoption of the asthma monitoring device market during the forecast period. This is mainly due to the increasing emphasis on patient-centered care, the desire for convenience, and the need to reduce healthcare costs by avoiding unnecessary hospital visits. Asthma monitoring devices that are user-friendly, technologically advanced, and capable of remote data transmission align with the requirements of home care settings, thereby driving market growth. For instance, in 2023, koneksa, a healthcare technology company developing evidence-based validated digital biomarkers, announced the launch of a clinical study comparing the treatment effect between at-home mobile spirometry using digital biomarkers and in-clinic spirometry in patients with moderate asthma on long-acting beta-agonist (LABA) treatment.
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Global Asthma Monitoring Device Market Segmentation
Market Insight, by Device
· Spirometer
· Peak Flow Meter
· Smart Inhalers
Market Insights, by End-User
· Hospitals & Clinics
· Homecare
· Diagnostic Laboratories
Market Insight, by Region
· North America
o U.S.
o Canada
o Rest of North America
· Europe
o Germany
o UK
o France
o Italy
o Spain
o Rest of Europe
· APAC
o China
o India
o Japan
o Rest of APAC
· Rest of the World
Top Company Profiles
· COSMED srl
· Teleflex Incorporated
· SCHILLER
· Hill-Rom, Inc.
· Koninklijke Philips N.V.
· ICU Medical, Inc
· SDI Diagnostics
· AstraZeneca
· Merck & Co., Inc.
· BD