Global Digital Respiratory Devices Market Registered for US$ 38.9 Bn in 2022 on the Basis of Revenue, Projected to Witness CAGR of 28.9% from 2023- 2031
HOUSTON, TEXAS, UNITED STATES, July 18, 2023/EINPresswire.com/ -- Global Digital Respiratory Devices Market Introduction
Digital respiratory devices are therapeutic and diagnostic equipment that communicate with smartphone apps or other data collection modules. These devices are used to treat and monitor asthma, chronic obstructive pulmonary disease (COPD), and other respiratory disorders. Digital respiratory devices help with medicine delivery accuracy as well as effective monitoring of patient health and treatment outcomes. These cutting-edge technologies allow the patient and physician to monitor, record, and trace the dosage recorded throughout treatment. With the use of smart respiratory equipment, illness management can be improved. The World Health Organization estimates that 65 million individuals worldwide suffer from moderate to severe chronic obstructive pulmonary disorders (COPDs), which include refractory (severe) asthma, emphysema, and chronic bronchitis. By 2030, tuberculosis, COPD, and lung cancer will account for one in every five fatalities globally. Thus, during the forecast period, the global digital respiratory devices market will experience huge growth due to the rising awareness of the benefits of the digital respiratory devices.
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Covid-19 Impact: Global Digital Respiratory Devices Market
Due to the COVID-19 outbreak, the need for ventilators and other personal protection equipment has skyrocketed. The COVID-19 pandemic has increased demand for smart and digitally linked medical equipment, such as artificial intelligence (AI)-based mobile medical applications and medical imaging software, which will allow for improved management of severe respiratory disorders. The respiratory illness management sector relies heavily on innovative medical equipment such as mobile medical apps and inhalers. As the COVID-19 epidemic fuels substantial innovation in mobile medical apps, oxygen concentrators, and smart inhalers, industry participants are looking on growth potential which is supporting the overall growth of the global digital respiratory devices market.
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Global Digital Respiratory Devices Market Key Takeaways
Smart inhalers, of which there are an increasing number on the market, are expected to play a role in changing how patients and clinicians manage COPD medication. These are simply inhalers with additional digital capabilities like Bluetooth connection that connect to an app. Some feature sensors that can identify whether the user is in a high pollution or pollen region, others can determine if the user's breathing method needs to be checked, and still others can send reminders. Teva Pharmaceuticals' Digihaler line, for instance, offers a Bluetooth wireless technology that robotically collects inhaler-use data whenever the cap is opened or a user inhales. The data is linked to a companion app, which may remind users how frequently they have used the device, assess inspiratory flow rates, determine if the inhaling method needs to be improved, and communicate patient data with clinicians.
Asia Pacific region is anticipated to be the fastest growing in the digital respiratory devices market during the forecast period. Asia has witnessed a significant increase in the prevalence of respiratory diseases, including asthma, chronic obstructive pulmonary disease (COPD), and respiratory infections. The rising disease burden has led to a greater demand for innovative solutions, including digital respiratory devices, to manage these conditions effectively. Asia is now a home to several countries that are at the forefront of technological advancements, such as China, Japan, South Korea, and India. These countries have seen significant growth in the digital health sector, leading to the development and adoption of digital respiratory devices that leverage technologies like Internet of Things (IoT), artificial intelligence (AI), and mobile connectivity. Therefore, as technology continues to advance and healthcare systems evolve, it is expected that the adoption of devices will continue to grow leading to the progress of the digital respiratory devices market.
Global Digital Respiratory Devices Market Key Development
In 2021, as part of its chronic care ecosystem, NuvoAir introduced an add-on sensor for asthma and chronic obstructive pulmonary disease (COPD) inhalers. The NuvoAir Aos sensor adds new data to the service platform, allowing NuvoAir Care Coordinators and healthcare practitioners to evaluate inhaler technique, track inhaler use, and analyse treatment efficacy.
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Global Digital Respiratory Devices Market Key Competitors
o Glenmark Pharmaceuticals Ltd
o Keva Health Inc
o Koninklijke Philips N.V.
o Novartis AG
o NuvoAir AB
o Propeller Health
o Smart Respiratory Products Ltd.
o Teva Pharmaceutical Industries Ltd.
o Other Market Participants
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Global Digital Respiratory Devices Market
By Product Type
o Smart Inhalers
o Wearable Respiratory Devices
o Respiratory therapy apps
o Respiratory monitoring software and Platforms
o Chronic Obstructive Pulmonary Disease (COPD)
o Sleep Apnea
o Cystic Fibrosis
o Respiratory Infections
By Distribution Channel
By Patient Age Group
By End User
o Hospitals and Clinics
o Homecare Settings
o Specialty Respiratory Centers
o Ambulatory Surgical Centers
o Research laboratories
o Academic institutions
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o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)
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