Digital Respiratory Devices Market is on an Upward Growth Curve

Global Digital Respiratory Devices Market (Product (Sensors and Apps, Smart Inhalers and Nebulizers), Indication (Asthma and Chronic Obstructive Pulmonary Disease))- By Trends, Industry Competition Analysis, Covid-19 Analysis, Revenue (US$ Billions) and Forecast Till 2030." of InsightAce Analytic Pvt. Ltd. features detailed industry analysis and an extensive study on the market, exploring its significant factors.

The Digital Respiratory Devices Market Size is valued at 61.35 billion in 2023 and is predicted to reach 482.40 Billion by the year 2031 at a 29.56% CAGR during the forecast period for 2024-2031.

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Digital respiratory devices are compromised by therapeutic and diagnostic equipment connected to smartphone applications or other data collection modules. These devices treat and monitor chronic obstructive pulmonary disease (COPD), asthma, and other respiratory conditions. The market growth is attributed to the significant increase in the prevalence of severe chronic respiratory diseases (CRDs), such as bronchial asthma, chronic obstructive pulmonary disease (COPD), cystic fibrosis, lung disorders, and pulmonary hypertension (PH). The risk of contracting CRDs is constantly increasing due to a growing senior population, tobacco usage, increased air pollution, and occupational exposure to dust in the mining, forestry, and agricultural industries. Consequently, the respiratory management instrument market is experiencing rapid growth.

Among the favourable medical outcomes were reduced hospitalizations, improved medication adherence, and fewer doctor visits. These substantial advancements have increased the global demand for digital respiratory technology. Furthermore, the market demand for digital respiratory apparatus has been bolstered by the rise in the use of state-of-the-art digital respiratory systems and devices sparked by COVID-19. An increasing number of enterprises are incorporating digital technologies into their products to enhance the efficacy of drug management.

List of Prominent Players in the Digital Respiratory Devices Market:
• Cohero Health
• Findair Sp. z. o. o
• GlaxoSmithKline plc
• Novartis AG
• Pneuma Respiratory
• 3M Health Care Limited
• Adherium Limited
• Amiko Digital Health Limited
• AstraZeneca
• Boehringer Ingelheim International GmbH
• Capsule Technologies
• Cognita Labs
• Propeller Health
• Sensiron AG
• Teva Pharmaceuticals Industries Ltd.

Market Dynamics:
Drivers-
The demand for digital respiratory devices is directly influenced by infectious respiratory disorders. The demand for ventilators and other personal protective equipment has increased substantially as a result of the most recent and severe of these illnesses, COVID-19. The COVID-19 pandemic has resulted in a surge in the demand for ventilators, which has prompted commercial and governmental support for the expedited production of these devices. This illustrates the significance of respiratory treatment in the context of an outbreak; consequently, analysts anticipate a reasonable market expansion rate. The rapid rise in the global senior population, the cost advantages of home care devices and services (in comparison to hospital visits), and the rise in the prevalence of chronic diseases (such as COPD and asthma) are the primary factors that are influencing the growth of digital respiratory devices. Major drivers that are anticipated to offer companies in the digital respiratory devices market significant growth prospects include the decentralization of healthcare, the high growth potential of emerging markets, and the development of miniaturized equipment.

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Challenges:
A significant number of patients rely on payments to fund the cost of their care. The diagnostic sector, as a whole, and respiratory care diagnostics in particular, are currently experiencing challenges regarding the insufficient compensation for a variety of diagnostic tests. Furthermore, respiratory care equipment receives minimal financial assistance from the majority of countries. Despite their high prevalence, major respiratory disorders such as asthma and COPD remain significantly underdiagnosed and undertreated. The dearth of necessary resources to diagnose these diseases and the limited awareness of these disorders are particularly evident in emerging economies.

Regional Trends:
In the forecast period, North America dominated the market as a result of the increased prevalence of chronic respiratory disorders and the substantial geriatric population. Additionally, the vast majority of the North American market is due to the availability of reimbursement in U.S. healthcare center accounts, the increasing public awareness of healthcare issues, the improvement of healthcare infrastructure, the increase in the number of outpatient surgeries, and economic growth that is facilitated by the expansion of insurance coverage.

Due to the region's high concentration of respiratory patients, rising healthcare spending, rapidly evolving healthcare infrastructure, rising per capita income, expanding middle-class population, and increasing tobacco use rates, the Asia-Pacific market is anticipated to experience rapid growth during the forecast period.
In addition, APAC is emerging as a hub for medical tourism and is considered to be one of the most rapidly expanding markets for medical procedures and devices.
Due to the region's affordable infrastructure, healthcare services, and highly trained physicians, medical travelers have been attracted to APAC nations, particularly India and China.

Recent Developments:
• In February 2022, A unique digital respiratory health solution, HeroTracker® Sense, was introduced by Aptar Pharma, a global leader in drug delivery systems, services, and active material science solutions. This solution transforms a standard metered dosage inhaler (pMDI) into an intelligent linked healthcare device.HeroTracker® Sense is an add-on for metered-dose inhalers (MDIs). connected device that addresses patient inhalation technique and adherence.
• In September 2021, Adherium Limited, a pioneer in respiratory eHealth, remote monitoring, and data management, has announced that the FDA's 510(k) approval has allowed it to commence the sale of its first, next-generation Hailie Sensor. This sensor includes physiological measures to monitor the use of asthma and COPD medications.

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Segmentation of Digital Respiratory Devices Market -
By Indication
• Asthma
• Chronic Obstructive Pulmonary Disease
By Product
• Sensors and Apps
• Smart Inhalers and Nebulizers
By Region-
• North America-
• US
• Canada
• Mexico
• Europe-
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
• Latin America-
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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