AI-powered algorithms to drive the Digital Respiratory Devices Market at a CAGR of 25%
The digital respiratory devices market is growing rapidly due to the increasing prevalence of respiratory diseases, technological advancements in digital healthcare, and the rising demand for home healthcare devices. Digital respiratory devices use sensors and mobile applications to monitor and manage respiratory conditions such as asthma, chronic obstructive pulmonary disease (COPD), and sleep apnea.
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.
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.
While these devices and medications offer a high level of care for those who suffer from COPD, they can be quite costly. In some cases, the cost of these treatments may be prohibitive for patients, especially those who are already dealing with significant health problems.
Fortunately, there are a number of ways to reduce the cost of COPD treatments. Patients can work with their healthcare provider to find lower-cost options, or they may be able to qualify for assistance through government or private programs. Additionally, patients can take steps to manage their own health and reduce their need for treatment.
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The digital respiratory devices market is forecast to grow in the coming years, as more novel medications for the treatment of respiratory illnesses are introduced. This is especially true due to the COVID-19 pandemic, which has increased demand for respiratory devices. With new items in the pipeline, the market will have more room for growth.
Regional developments through mergers and alliances, as well as product releases, are some of the primary methods employed by market participants to remain competitive.
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. This allows customers to automatically refill prescriptions directly from their pharmacies’ websites or apps.
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Key Segments in Digital Respiratory Devices Industry Research
By Product
Smart Inhalers & Nebulizers
Sensors & Apps
By Indication
Asthma
COPD
Other Diseases
By Distribution Channel
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By End Use
Hospitals
Homecare Settings
Other settings
By Region
North America
Europe
East Asia
South Asia
Oceania
Latin America
Middle East & Africa
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