Digital Respiratory Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Fairfield Market Research’s latest report on the Digital Respiratory Devices market highlights an impressive growth trajectory. The market is expected to expand at a CAGR of 27% from 2024 to 2031, reaching US$ 70 Bn by 2024 and US$ 370 Bn by 2031.

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

The increased frequency of respiratory disorders has driven advancements in the production of breathing equipment. Patients with asthma and chronic obstructive pulmonary disease (COPD) demand greater accuracy in medicine administration, leading to a rise in the use of digital respiratory devices. Government reimbursement policies favoring the production and sales of digital respiratory devices further contribute to market growth.

COPD is a significant health issue and a leading cause of mortality worldwide, according to the World Health Organization (WHO). The use of technologically advanced medical devices and effective medications is crucial for treating COPD and other respiratory illnesses. Initiatives such as the United Nations' Sustainable Development Goals (SDG) and the establishment of the Forum of International Respiratory Societies (FIRS) have significantly impacted the demand for digital respiratory devices.

In recent years, numerous novel medications for treating COPD and asthma have been introduced. The digital respiratory devices market is poised for substantial growth, especially with the increased demand for respiratory devices due to the COVID-19 pandemic. The pandemic has led to accelerated medicine approval and product launches, fostering manufacturing collaborations between healthcare and non-healthcare companies. These developments indicate positive progress, with the global respiratory devices market expected to grow at a 27% CAGR through 2031.

𝐒𝐡𝐚𝐩𝐢𝐧𝐠 𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐨𝐟 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐑𝐞𝐬𝐩𝐢𝐫𝐚𝐭𝐨𝐫𝐲 𝐃𝐞𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡 𝐏𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥

Rising Inclination towards Combination Medicines

The use of combination treatments for COPD and asthma therapy has steadily increased. Patients prefer combination treatments due to their higher effectiveness, greater reliability in complex cases, and favorable therapy reimbursement policies. The growing preference for combination medicines, such as triple combination therapy, is a key factor driving the market. Additionally, excellent reimbursement schemes have encouraged the use of these medicines.

Expanding Frequency of Respiratory Diseases

According to the WHO, COPD is expected to be the third leading cause of mortality worldwide by 2025. The increasing prevalence of respiratory diseases and the growing demand for effective treatment are driving the market's growth. Attractive reimbursement policies and improvements in the government healthcare system, along with a focus on better treatment accessibility, offer profitable development opportunities. Initiatives like the Affordable Care Act in the US and free healthcare access in England under the National Health Service (NHS) are creating a favorable environment for digital respiratory devices.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐑𝐞𝐬𝐭𝐫𝐚𝐢𝐧𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

Lack of Reimbursement for Numerous Diagnostic Tests

Market expansion is hindered by a lack of awareness, resulting in a significant underdiagnosed and undertreated population. Additionally, some digital respiratory devices have adverse effects on newborns. The diagnostic sector, particularly respiratory care diagnostics, faces challenges due to the lack of reimbursement for numerous diagnostic tests.

𝐏𝐫𝐨𝐬𝐩𝐞𝐜𝐭𝐬 𝐟𝐨𝐫 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

North America: A Significant Market

North America has held a substantial share of the global digital respiratory devices market, driven by a well-developed healthcare infrastructure, increasing population awareness, and continuous technological advancements. The region's prominence is expected to continue due to the rising patient pool affected by respiratory disorders. The growing incidence of COPD will drive demand for respiratory devices in North America. Additionally, the use of digital respiratory devices in hospitals and healthcare facilities across the UK is predicted to increase significantly.

Europe: The Second-Largest Market

Initiatives by government organizations, such as the European Academy of Allergy & Clinical Immunology, to raise awareness about COPD and other respiratory disorders are expected to boost the market in Europe. According to Persistence Market Research (PMR), Europe is anticipated to maintain its position as the second-largest market during the forecast period.

𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐰𝐢𝐬𝐞 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

Investments in the U.S. Digital Respiratory Devices Market

North America, particularly the US, holds the greatest proportion of the digital respiratory devices market. This dominance is primarily due to the rising prevalence of respiratory disorders and the presence of major firms in the US, which drives market growth.

Key Market Players:

• 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
• AireHealth, Inc.

Market Segments Covered in Digital Respiratory Devices Market Analysis:

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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