Copd And Asthma Diagnostic And Monitoring Devices Market Prospering Owing To Its Wide Range Applications Across Different Diseases
Global COPD and Asthma Diagnostic and Monitoring Devices Market are expected to exceed the market valuation of more than US$ 41.90 million by 2027 expanding at a reasonable CAGR of around 5.68% during the forecast period (2021-2027). COPD and Asthma Diagnostic and Monitoring Devices can connect to a broad range of digital devices. COPD (chronic obstructive pulmonary disease) and Bronchial asthma are obstructive pulmonary diseases that affect millions of people throughout the world. Asthma has affected around 300 million individuals worldwide, hence it has become a major public health concern. While COPD is the fourth leading cause of mortality and morbidity all over the world. As per WHO, COPD will become the third leading cause of mortality by the end of 2030, globally.
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The demand for COPD and Asthma Diagnostic and Monitoring Devices is increasing on account of the rising incidence of Asthma and COPD cases, rising aging population, increasing prevalence of tobacco smoking, growing Urban population, increasing preterm birth cases, and lifestyle changes among consumers. As per the Centers for Disease Control and Prevention, Cigarette smoking is responsible for more than 480,000 deaths per year in the United States alone.
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During the Covid-19 pandemic, the market is experiencing significant growth on account of the shortages of inhalers that are being used for Asthmatic and COPD patients as these inhalers can also be used for the treatment of Covid-19 symptoms such as Albuterol inhaler. The causes and symptoms of both Asthma and COPD are similar to the COVID-19 symptoms. As per the University of Oxford research team, budesonide twice a day could benefit people over 50 years old with early symptoms of Covid-19. Also, countries such as the U.K. and the U.S. are facing shortages of Albuterol inhalers because hospitals are using these inhalers for the treatment of COVID-19 patients. As per the National Health Service (NHS) in 2020, the number of inhalers prescribed in England has been increased by 63% between February 2020 and March 2020.
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Based on Therapeutic devices, the market is segmented into Ventilator, Mask, PAP (Positive airway pressure) Device, Inhaler, and Nebulizer. Inhalers segment is expected to dominate the market during the forecast period owing to no need for patient coordination, and ease to use. Moreover, the advancements in Connected Drug Delivery Devices also propels the market growth. Several research companies are working to control the incidence of respiratory diseases, for instance, BIOCORP, a French company focused on designing, development, and manufacturing of innovative medical devices, launched “Inspair” in October 2016. Inspair is a smart sensor that helps in the conversion of pressurized metered-dose inhalers into connected devices for the prevention of Asthma or COPD attacks.
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Based on Monitoring devices, the market is segmented into Pulse Oximeters, Capnography, and Gas Analyzers. The pulse oximeters segment is expected to dominate the market owing to its fast and accurate results. Furthermore, the rising awareness regarding the applications of a pulse oximeter in Covid-19 management and the high prevalence of respiratory diseases also propels the market growth. Hence, a pulse oximeter helps in the early detection of COVID-19 or other respiratory disease progressions. For instance, Masimo in 2021, launched an iSpO2 pulse oximeter app for the tracking of blood oxygenation levels, pulse rate, as well as perfusion index.
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Based on Diagnostic devices, the market is fragmented into Spirometers, Polysomnography (PSG) Devices, Peak Flow Meters, and Other Diagnostic Devices. Peak flow Meter devices are expected to dominate the market in the upcoming period owing to their lightweight, easy to handle, and store. Furthermore, these devices can be connected remotely for the diagnosis of respiration rate. For instance, “The Microlife PF 100” is a digital measuring device for the detection of peak expiratory flow (PEF) as well as forced expiratory volume for the monitoring of respiration rate in asthmatic patients.
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Based on Indication, the market is segmented into Asthma and COPD. The Asthma segment is expected to dominate the market owing to the rise in outdoor and indoor causative agents such as allergens, dust, and pollution. As per World Health Organization (2019), Asthma affected an estimated 262 million people in 2019 and caused 461000 deaths, worldwide.
Based on End-user, the market is fragmented into Homecare, Hospitals, Clinics, and Other end-users. Hospital segment is expected to dominate the market owing to an increase in the number of patients suffering from respiratory diseases, a rise in government initiatives, and advancements in technology in terms of COPD and asthma devices. For instance, several Governments across different regions have established a Global Initiative for Chronic Obstructive Lung Disease (GOLD) in 2021 which works with health care professionals and public health officials around the world to raise awareness of the chronic obstructive pulmonary disease (COPD) and to improve prevention and treatment of the lung disease.
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For a better understanding of the market adoption of the COPD and Asthma Diagnostic and Monitoring Devices, the market is analyzed for major region including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America dominate the COPD and Asthma Diagnostic and Monitoring Devices market on account of the highly developed healthcare infrastructure, healthcare spending, and presence of a large number of market players in the U.S. region. As per Healthline, more than 49 million dollars has been spent on COPD-related patient care in North America. Some of the major players operating in the market include Drägerwerk AG & CO. KGAA, Getinge AB, Invacare Corporation, Masimo Corporation, Vyaire Medical Inc., Koninklijke Philips N.V, Becton Dickinson And Company, Nihon Kohden Corporation, Smiths Medical, and Medtronic plc. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
Global COPD and Asthma Diagnostic and Monitoring Devices Market Segmentation
Market Insight, by Therapeutic devices
- PAP (Positive airway pressure) Device
Market Insight, by Monitoring Devices
- Pulse Oximeters
- Gas Analysers
Market Insight, by Diagnostic devices
- Polysomnography (PSG) Devices
- Peak Flow Meters
- Other Diagnostic Devices
Market Insight, by Indication
Market Insight, by End-user
- Other end-users
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Drägerwerk AG & CO. KGAA
- Getinge AB
- Invacare Corporation
- Masimo Corporation
- Vyaire Medical Inc.
- Koninklijke Philips N.V
- Becton Dickinson And Company
- Nihon Kohden Corporation
- Smiths Medical
- Medtronic plc