Digital Respiratory Devices used compromises therapeutic and diagnostic devices that are connected to smartphone applications or other data collection modules. These devices used to data include approaches to monitoring and improving adherence, such as electronic inhalers, text messaging and reminders, and self-management tools include web-based and mobile applications to record symptoms and monitor lung function. Smart inhalers are developed such that it wirelessly sends data on inhaler usage directly to a mobile health platform website. Digital respiratory devices also assist in visualization of measurements and integration into a wider dataset, such that it contains in a patient’s electronic medical records.
It can monitor through Bluetooth-connected devices and mobile applications that measure peak flow, exhaled nitric oxide fraction (FeNO), physical activity, and ambient pollution. These devices used to monitor the treatment and monitoring of asthma, chronic obstructive pulmonary diseases (COPD), and other respiratory diseases.
Global Digital Respiratory Devices Market projected to grow at a momentous rate during the forecast period, 2020-2027. The growing prevalence of respiratory diseases coupled with the rapid technological advancements in the healthcare industry is key factors expected to drive the growth of the global digital respiratory devices market in the next few years. Moreover, the rising awareness among individuals regarding the benefits of connected inhalers along with the growing adoption of sensor technologies and apps by doctors to monitor and manage inhalation of medications will augment the growth of the global digital respiratory devices industry.
Furthermore, recent outbreak pandemic COVID-19 has worsened across the world, and the epidemic situation in the United States is difficult, with more than 100,000 confirmed cases recorded, for which there is the demand for 140,000 beds, 40,000 ICU beds and a minimum of 30,000 respirators. Also, the growing demand for enhanced portable and compact respiratory care devices, multimodal ventilation, coupled with the rising adoption of non-invasive ventilation, are estimated to trigger the global respiratory devices market size. Further, the upsurge in demand for software to measure and improve outcomes for respiratory diseases will spur the robust growth of the digital respiratory devices industry worldwide. According to WHO, respiratory diseases like Chronic Obstructive Pulmonary disorder will become the third leading cause of death worldwide by 2030. This surge in demand for digital respiratory devices in the future periods.
Recently, pneumonia of a new type of coronavirus infection, COVID-19, occurred in Wuhan, Hubei, and other regions. To date, there 1,214, 466 confirmed cases with 67,767 deaths in 211 countries. With the continued spread of this virus, which can cause pneumonia and difficulty breathing, hospitals are facing a limited supply of ventilators. The COVID-19 virus targets the lungs and may cause complications such as pneumonia and acute respiratory distress syndrome.
Today, governments worldwide are playing catch-up, swiftly intervening in an attempt to create alliances with manufacturers to handle the COVID-19 threat. For example, recently, New York Governor Andrew Cuomo demand for least 30,000 respirators to ensure proper care of patients. In fact, the United States also has a small amount of respiratory equipment stored in hospital warehouses. In response to the spread of the virus, US President Trump has invoked the Defense Production Act. The bill allows the federal government to force private companies to produce breathing equipment and other necessities in emergencies.
According to WHO, Asthma is the most common chronic disease among children worldwide and stated that around 235 million people were living with asthma in 2019. Also, WHO reports that the prevalence of 251 million cases of COPD globally in 2016 and the primary cause of COPD is exposure to tobacco smoke. WHO estimates that in 2016, some 58% of outdoor air pollution-related premature deaths were due to ischaemic heart disease and stroke.
Based on product type, the global digital respiratory devices market classified into Therapeutic Devices (Inhalers, (Smart Inhalers and Adaptors for Conventional Inhalers) and Nebulizers), Diagnostic Devices (Spirometers, Asthma Monitors, and Others) and Apps). The Therapeutic Devices segmented held for maximum revenue share in 2019 and predicted to gain a major share in the digital respiratory devices market by 2027. It is owing to the presence of sensors attached inhalers, which stores data were measuring the number of dosages and surge the efficiency of the drug. Additionally, smart inhalers help adoption in the proper management of COPD and asthma. It includes Inhalers such as Smart Inhalers and Adaptors for Conventional Inhalers and Nebulizers.
The diagnostic devices segment will drive with a significant rate in the forecast period. It is attributable to its use to diagnose asthma, chronic obstructive pulmonary disease (COPD), and other conditions with mobile connectivity. Furthermore, it assists in respiratory monitoring in clinical trials.
Based on the application, the global digital respiratory devices market classified into Asthma, COPD, and Others. The Asthma segment accounted for a higher market share in 2019 and estimated to generate the largest revenue share by 2027. It is due to the high prevalence of asthma patients around the world, coupled with technological advancements in respiratory devices such as it provides accurate asthma monitoring within the home and medical environment.
The COPD segment will be the fastest-growing segment in the forecast periods on account of the growing prevalence of chronic pulmonary and respiratory diseases in developed as well as developing countries.
Based on Distribution Channel, the global digital respiratory devices market segregated into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. Hospital Pharmacies segment expected to gain maximum revenue by 2027 owing to the financial capabilities of hospitals to purchase high-priced instruments coupled with the easy availability of digital respiratory devices at hospital pharmacies.
The Retail Pharmacies segment will be the fastest-growing segment during the analysis period on account of the rise in the number of pharmacy stores in developing countries coupled with the surge in awareness among people about the benefits of digital respiratory devices.
Based on geography, the global digital respiratory devices market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027, owing to the presence of keys players in these regions coupled with a higher adoption rate of digital medical devices and upsurge in per capita income of individuals in these regions.
Europe will grow with a lucrative rate during the forecast period due to the high prevalence of respiratory diseases coupled with the presence of a highly developed healthcare system.
Companies such as Teva Pharmaceutical Industries Ltd., Propeller Health, 3M, AstraZeneca, Glenmark, Adherium Ltd., Pneuma Respiratory, Findair Sp. Z o. o, Cohero Health, Inc., Amiko Digital Health Limited, Boehringer Ingelheim International GmbH, Capsule Technologies, GlaxoSmithKline PLC, Novartis AG, Propeller Health, and Sensiron AG are the key players in the Global Digital Respiratory Devices Market.
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Global Digital Respiratory Devices Market
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