Digital Respiratory Devices Market
Digital Respiratory Devices Market Size, Share & Forecast Analysis, By Product (Smart Inhalers & Nebulizers, Sensors & Apps), By Indication (Asthma, COPD), By Distribution Channel (Hospital, Retail & Online Pharmacies), By End-Use & Region - Global Market Insights 2022-2032
Analysis of Digital Respiratory Devices Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Digital Respiratory Devices Market Outlook (2022-2032)
The global digital respiratory devices market was valued at US$ 43 Billion in 2022 and is expected to expand at a CAGR of 25% from 2022 to 2032. The increased frequency of respiratory disorders has pushed for advancements in the production of breathing equipment.
Asthmatic and chronic obstructive pulmonary disease (COPD) patients have sought more accuracy in medicine administration, leading to a rise in the use of digital respiratory devices. Government’s reimbursement policies that favour digital respiratory devices production and sales.
Market Size (2022)
US$ 43 Billion
Projected Market Value (2032)
US$ 400 Billion
Global Market Growth Rate (2022-2032)
Historical Data Available For
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Demand Analysis of Digital Respiratory Devices (2017-2021) in Comparison to Market Forecasts (2022-2032)
Chronic obstructive pulmonary disease (COPD) is a serious health problem and one of the top causes of mortality worldwide, according to the World Health Organization (WHO). Medical devices that are technologically advanced and effective medications have become critical in the treatment of COPD and other respiratory illnesses.
For example, in 2016, the United Nations established the Sustainable Development Goals (SDG) to enhance global living standards. Similarly, the Forum of International Respiratory Societies (FIRS) was established to address the growing burden of respiratory diseases. These efforts have a significant impact on increasing demand for digital respiratory devices.
Over the recent decade, several novel medications for the treatment of COPD and other respiratory illnesses such as asthma have been introduced. With more items in the pipeline, the digital respiratory devices market will have more room for growth, especially because demand for respiratory devices has increased due to the COVID-19 pandemic.
The pandemic issue has resulted in accelerated medicine approval and product launch, which is the most popular among pharmaceutical producers. The COVID-19 has resulted in manufacturing relationships between healthcare and non-healthcare companies. To satisfy rising demand, manufacturers are ramping up production of breathing equipment. These developments are indicative of positive progress. The global respiratory devices market is expected to develop at a 25% CAGR through 2032, according to Fact.MR.
What is Shaping Digital Respiratory Devices Market Growth Potential?
Rising Inclination towards Combination Medicines anticipated driving the Global Market
The usage of combination treatments for COPD and asthma therapy has steadily increased. Patients choose combination treatments due to benefits such as higher effectiveness, greater dependability in difficult patients, and advantageous therapy reimbursement policies.
A crucial reason for digital respiratory device makers is the growing inclination for combination medicines such as triple combination therapy. Combination therapy is regarded as a dependable source of treatment for people suffering from complicated respiratory illnesses. Furthermore, excellent reimbursement schemes have encouraged the use of these medicines.
Expanding Frequency of Respiratory Diseases to Propel Market Growth
As stated by the World Health Organization (WHO), COPD will be the third greatest cause of mortality worldwide by 2025. The expanding frequency of respiratory diseases, as well as the growing demand for efficient treatment, has resulted in increased development potential. The digital respiratory devices market is likely to develop significantly in the next years as attractive reimbursement policies are implemented.
Upgrades in the government healthcare system, as well as an increasing emphasis on improved treatment with more accessibility, will offer a profitable development opportunity. For example, the Affordable Care Act is being implemented to assist roughly 40 million uninsured Americans in gaining access to healthcare services.
Similarly, individuals in England have access to free health care. Every citizen of the nation has access to preventative medicine, primary care, and hospital treatments through the National Health Service (NHS). For example, significant reforms were implemented in the NHS in 2018 that will empower social care leaders to explicitly design treatment for individual patients, which will be increasingly made available outside of hospitals. These initiatives aimed at making healthcare more accessible will create a favourable climate for the marketing of digital respiratory devices.
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What are Some Factors Restraining Market Growth?
Lack of Reimbursement for Numerous Diagnostic Tests Driving Market
To some degree, market expansion has been impeded by a lack of knowledge, which has resulted in a significant underdiagnosed and undertreated population, as well as the adverse effects of particular digital respiratory devices on newborns.
Furthermore, the diagnostic sector as a whole and respiratory care diagnostic in particular, is currently confronted with the difficulty of a lack of reimbursement for numerous diagnostic tests.
What Prospects Define Digital Respiratory Devices Market Potential on a Regional Basis?
In recent years, the North American market has held a significant proportion of the worldwide digital respiratory devices industry. The region's prominence is ascribed to the existence of well-developed healthcare infrastructure, expanding population awareness, and continual technological improvements.
Because of the rising patient pool impacted by respiratory disorders, the area is expected to continue to dominate in the future years. Rising COPD incidence is expected to drive demand for respiratory devices in the region. On the other hand, the use of digital respiratory devices in hospitals and healthcare facilities across the UK is predicted to increase significantly.
The market for digital respiratory devices is expected to increase as a consequence of initiatives by different government organisations such as the European Academy of Allergy & Clinical Immunology to raise awareness about COPD and other respiratory disorders such as asthma. According to PMR, Europe is the second-largest market, a position it is anticipated to maintain during the forecast period.
Why are Suppliers of Digital Respiratory Devices investing in the U.S.?
Presence of Major Firms in the U.S to Drive the Market Growth
North America holds the greatest proportion of the market under consideration. This is mostly due to the rising prevalence of respiratory disorders. Furthermore, the presence of major firms in the US is one of the primary reasons driving the growth of the US digital respiratory devices market.
According to the Asthma and Allergy Foundation of America's April 2021 data, about 20 million individuals aged 18 and up in the United States have asthma. As a result, the frequency of such conditions in the country implies a steady need for digital respiratory devices, which contributes to the growth of the market analysed in the United States. ?The outbreak of COVID-19 has boosted market expansion even further. The US government is launching a number of strategic projects. In the COVID-19 pandemic, for example, Philips and the US government worked in April 2020 to enhance hospital ventilator output.
Similarly, the office of the Assistant Secretary for Preparedness and Response (ASPR) added numerous additional mechanical ventilator types to the stockpile in 2020, according to the 2021 American Association for Respiratory Care. As a result of the foregoing considerations, the United States is likely to dominate the worldwide market for digital respiratory devices.
How Will the Chinese Digital Respiratory Devices Market Evolve?
Rising Incidences of COPD and Asthma in China to boost the Regional Market Growth
During the projection period, Asia Pacific is expected to grow at a significant. This increase can be ascribed to rising incidences of COPD and asthma in China. COPD is the primary cause of impairment in China, and it is an increasing public health problem.
AstraZeneca's Bevespi Aerosphere was approved in China in May 2020 as a maintenance medication for the treatment of COPD symptoms such as chronic bronchitis and emphysema.
By Indication, which Segment is Driving Market Growth?
COPD is expected to grow at a significant rate
In 2021, the COPD category topped the market with a significant profit share in the market. COPD affects 200 million individuals globally. Moreover, respiratory disorders account for little and over 8% of all chronic diseases worldwide. As stated by the World Health Organization (2020), COPD will overtake ischemic heart disease and HIV/AIDS as the fourth-leading causes of mortality by 2030.
Furthermore, individuals continuing to smoke and living longer lives are all leading to the huge growth of COPD; these changes are especially important in developing countries. Asthma affects around 300 million individuals worldwide, and the prevalence of the ailment is growing by 50% every ten years.
In addition to that, asthma affects about 25 million individuals in the United States, accounting for 10% of the population in North America. Furthermore, an increase in severe asthma, insufficient illness management, and poverty are all consequences of the rising number of asthma hospitalizations, particularly among young children. As a result, there is a growing need for digital respiratory devices.
Which End Use Shows Higher Implementation in Digital Respiratory Devices Industy?
Demand from the Hospitals to Gain the Most Traction
In 2022, hospitals are anticipated to hold the highest revenue share of the digital respiratory devices market. The hospital category is expected to expand significantly in the coming years as a result of expanding public-private partnerships, rapid improvements in healthcare infrastructure, and increased access to healthcare services. Hospitals, homecare settings, and other settings make up the market. Due to the cost advantages of home care equipment and services over hospital visits, the homecare settings category is expected to grow at the fastest over the projected period.
Moreover, due to the rising costs of the healthcare business, many people with chronic respiratory diseases opt to get care at home. Furthermore, the increasing prevalence of chronic conditions such as COPD and asthma throughout the world is the primary driver of the homecare business.
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Regional developments through mergers and alliances, as well as product releases, are some of the primary methods employed by market participants.
Recent Developments :
- In September 2021, Adherium Limited, a market leader in respiratory eHealth, remote monitoring, and data management, announced that the FDA's 510(k) approval has allowed it to begin selling its first, next-generation Hailie Sensor, which includes physiological measures for tracking the use of asthma and COPD medications.
- In November 2019, Propeller Health expanded their pharmacy refill app to cover CVS, Rite-Aid, Kroger, and Walmart pharmacies.
- In January 2019, Propeller Health also launched My Drugstore, an in-app service in collaboration with Walgreens that allows clients to manage their medication refills for COPD and asthma and locate a nearby pharmacy.
Key Segments in Digital Respiratory Devices Industry Research
By Product :
- Smart Inhalers & Nebulizers
- Sensors & Apps
By Indication :
- Other Diseases
By Distribution Channel :
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By End Use :
- Homecare Settings
- Other settings
By Region :
- North America
- East Asia
- South Asia
- Latin America
- Middle East & Africa
- FAQs -
The global digital respiratory devices market accounts for a revenue of US$ 43 Billion in 2022.
The global market for digital respiratory devices is expected to reach US$ 400 Billion by 2032.
Demand for digital respiratory devices from 2022 to 2032 is projected to expand at a stellar CAGR of 25%.
By 2032, the hospital segment is projected to hold a maximum share of 50% of the market.
Key suppliers of digital respiratory devices are Cohero Health Inc., Cognita labs, Adherium limited, Amiko digital health limited, Teva pharmaceuticals industries ltd., Propeller health, Novartis ag, Pneuma respiratory inc., 3m health care limited, Airehe