The Intelligent Asthma Monitoring Devices Market refers to the market for medical devices that use sensors and other technologies to monitor and track asthma symptoms in real-time. These devices can measure various parameters such as lung function, air quality, and environmental conditions, providing patients with personalized insights and recommendations to help manage their condition more effectively. The market includes various types of devices, including handheld devices, wearable devices, and others, and is used in various settings such as hospitals, clinics, and home care settings. The market is expected to grow due to the increasing prevalence of asthma and the rising adoption of telehealth and remote patient monitoring technologies.
The intelligent asthma monitoring devices market was estimated at US$ 912 million in 2021 and is expected to grow at a CAGR of 8.28% during 2022-2028 to reach US$ 1617.72 million in 2028.
North America held the biggest market share in 2021 and is likely to maintain this position throughout the forecast period. This is due to the exponential expansion in population, combined with an increase in the geriatric population.
The following are the major players in the intelligent asthma monitoring devices market:
- Vectura Group plc
- Propeller Health
- Teva Pharmaceutical Industries Ltd. (Gecko Health Innovations)
- Adherium Limited
- Qualcomm Life
- AstraZeneca plc
- Health Care Originals
- Philips Healthcare
- GlaxoSmithKline plc
- Volansys Technologies.
- 3M
- Cohero Health, Inc.
- Koninklijke Philips N.V.
Intelligent monitoring devices are also being used in a variety of settings, including hospitals and clinics, home care settings, and others. Home care settings are expected to grow at the highest CAGR during the forecast period, driven by the increasing adoption of telehealth and remote patient monitoring technologies. With the rise of telehealth, patients can receive care from the comfort of their homes, reducing the need for hospital visits and improving access to care.
In addition to providing patients with real-time data and insights into their condition, intelligent monitoring devices can also improve patient engagement and adherence to treatment. These devices can provide patients with reminders to take their medication, track their symptoms, and monitor their progress, making it easier to manage their asthma effectively. Patients can also share their data with their healthcare providers, enabling them to adjust their treatment plan based on their progress.
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Furthermore, the use of intelligent monitoring devices can lead to cost savings for patients and healthcare systems. By reducing the need for hospital visits and improving adherence to treatment, these devices can reduce the overall cost of asthma management. Additionally, the use of telehealth and remote patient monitoring can reduce healthcare costs, making care more affordable and accessible for patients.
In conclusion, the rise of intelligent monitoring devices is revolutionizing asthma management by providing patients with real-time data and insights into their condition. These devices can improve patient engagement and adherence to treatment, reduce the need for hospital visits, and lead to cost savings for patients and healthcare systems. With the growing prevalence of asthma and the increasing adoption of telehealth and remote patient monitoring, the market for intelligent monitoring devices is expected to continue to grow, leading to further advancements in asthma management and improved outcomes for patients.
