Increase in the number of asthma cases and asthmatic attack plays a major role in the growth of the intelligent asthma monitoring devices market
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.The report offers in-depth analyses of the market size & estimations, key player positioning, drivers & opportunities, major market segments, top-winning strategies, and competitive landscape.
Surge in prevalence of COPD and asthma and increase in adoption of smart inhalers are expected to propel the growth of the intelligent asthma monitoring devices market.
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.
Home use segment to retain largest share through 2025
The home use segment is register the fastest 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.
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.
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).
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.