Global Digital Respiratory Devices Market: Focus on Sensors, Smart Inhalers and Nebulizers, Application, 9 Countries Data, and Competitive Landscape - Analysis and Forecast, 2019-2029
Key Questions Answered in the Report:
- What was the total revenue generated by the global digital respiratory system market in 2018 and how is it expected to grow during 2019-2029
- What are the major market drivers, challenges, and opportunities in the global digital respiratory devices market
- What are the underlying structures resulting in the emerging trends within the digital respiratory devices industry
- What are the potential business models in global digital respiratory devices market
- Which product type, such as sensors & apps and smart inhalers & nebulizers of the global digital respiratory system market is expected to dominate during the forecast period from 2019-2029
- Which indication type such as asthma and chronic obstructive pulmonary disease of the global digital respiratory system market is expected to dominate during the forecast period
- How pharma players are taking opportunity of connected inhalers to improve drug sales
- How will pharma industry evolve in terms of drug-based devices in the future
- What are the key developmental strategies which are implemented by the key players to sustain in the competitive market
- Which are the key manufacturers in global digital respiratory devices market, and what are their contributions
Global Digital Respiratory Devices Market Forecast, 2019-2029
The global digital respiratory devices market analysis done by BIS Research highlights that the market was valued at approximately $8.5 million in 2018 and is anticipated to reach $334.0 million by 2029.
The rise in the public awareness along with the reduced cost and technological advancements is responsible for bolstering the industry demand and aiding in reduction of the global healthcare expenditure. Furthermore, the recent developments in the regulatory pathway for the utilization of digital-based medical devices for medical and research purposes have increased the acceptance of digital respiratory devices.
In recent times, the increased prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD), is considered to be one of the leading causes of mortality. With the increasing life span and life expectancy, the geriatric population is growing at a fast pace and is expected to witness a surge in the future.
Expert Quote on Global Digital Respiratory Devices Market
“North America is currently the leading contributor to the global digital respiratory devices market. The market was valued at $5.0 million in 2018. Factors such as availability of large number of key players, increasing healthcare infrastructure, high adoption rate for advanced technologies, and faster product approvals by the regulatory bodies in the region are driving the growth of the North American global digital respiratory devices market. However, the Rest-of-the-World is expected to register the highest CAGR, during the forecast period 2019-2029”.
Scope of the Market Intelligent on the Global Digital Respiratory Devices Market
The purpose of the global digital respiratory devices market study is to gain a holistic view of the market in terms of various factors influencing it, such as recent trends and technological advancements in the market. The scope of this report is centered upon conducting a detailed study of the products allied with the digital respiratory devices market, which include sensors, apps, smart inhalers, and nebulizers.
The global digital respiratory devices market is segmented into three different parts, namely, by product-type, by application, and by region. The global market value was estimated on the basis of these three different approaches which were validated against one another. These segments are further sub-segmented to ease the market estimation.
With the increasing demand for personalized medicine, increasing incidence of chronic and respiratory diseases, technological advancements in respiratory devices industry, and new product launches by several conglomerate companies, the global digital respiratory devices market is expected to witness high growth. Moreover, the sensors and apps sub-segment dominated the global digital respiratory devices market in 2018 in terms of products. However, the smart inhalers and nebulizers segment is anticipated to witness the highest CAGR in the forecast period from 2019 to 2029.
The global digital respiratory devices market is segmented on the basis of geographical regions into North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW). North America is the leading contributor in the global digital respiratory devices market. However, the Rest-of-the-World is expected to grow at a CAGR of 45.78% in the forecast period 2019-2029.
Key Companies in the Global Digital Respiratory Devices Market
The key players who have significant contributions to the digital respiratory devices market include 3M Health Care Limited, Adherium Limited, Capsule Technologies, Inc., Cohero Health, Novartis AG, Propeller Health, Sensiron AG, Teva Pharmaceuticals Industries Ltd., Amiko Digital Health Limited, AstraZeneca plc, Boehringer Ingelheim International GmbH, and GlaxoSmithKline plc among others.
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