The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The intelligent asthma monitoring devices market is on a steady rise, driven by technological advancements and increasing awareness about respiratory health. This blog provides an overview of the market size, growth forecast, key drivers, major players, and emerging trends in the industry.

Market Size and Growth Rate

• Current Market Size: The market for intelligent asthma monitoring devices was valued at $0.93 billion in 2023.
• Growth in 2024: Expected to reach $1.00 billion, reflecting a compound annual growth rate (CAGR) of 8.1%.
• Key Drivers:
  • Development of new guidelines for asthma diagnosis.
  • Favorable regulatory environment.
  • Increased approvals for asthma monitoring devices.
  • Focus on preventive healthcare.
  • Rise in the adoption of smart inhalers.

Market Growth Forecast

• Future Market Size: The market is projected to grow to $1.37 billion by 2028 at a CAGR of 8.2%.
• Growth Factors:
  • Increase in respiratory diseases.
  • Growing geriatric population.
  • Urbanization and environmental pollution.
  • Rising global population.
  • Increased incidence of asthma.
• Emerging Trends:
  • Collaborations between pharmaceutical companies and smart inhaler manufacturers.
  • Integration of smartphone apps and mobile health solutions for asthma management.
  • Use of AI and machine learning for early prediction of asthma attacks.
  • Digital health platforms incorporating smart inhalers.

View More On The Intelligent Asthma Monitoring Devices Market Report 2024 – https://www.thebusinessresearchcompany.com/report/intelligent-asthma-monitoring-devices-global-market-report

Key Driver: Surge in Respiratory Diseases

• Impact of Respiratory Diseases: The rising occurrence of respiratory diseases is a significant driver of market growth.
  • Contributing Factors:
    • Increased air pollution.
    • Smoking habits.
    • Urbanization.
    • Aging population.
  • Role of Intelligent Asthma Monitoring Devices:
    • Provide real-time data on lung function and environmental triggers.
    • Enable early symptom detection.
    • Support personalized treatment adjustments.
    • Improve the quality of life for patients.

Major Players in the Market

• Leading Companies:
  • AstraZeneca plc
  • 3M Company
  • Boehringer Ingelheim International GmbH
  • Teva Pharmaceuticals Industries Ltd.
  • ResMed Inc.
  • Aptar Pharma Inc.
  • Vitalograph Ltd
  • Volansys Technologies Pvt Ltd
  • Amiko Digital Health Inc.
  • Pneuma Respiratory Inc.
  • Quvium

Trend: AI-Powered Wearable Lung Monitors

• Technological Advancements: Companies are focusing on developing AI-powered wearable lung monitors to enhance patient monitoring and treatment outcomes.
  • Example:
    • Respira Labs launched Sylvee in December 2021.
    • Sylvee is an AI-powered wearable lung monitor for patients with COPD, COVID-19, and asthma.
    • It evaluates lung function by measuring changes in acoustic resonance, providing real-time lung health data.

Merger and Acquisition: Aevice Health and Jiva.ai Partnership

• Strategic Collaboration:
  • In February 2024, Aevice Health partnered with Jiva.ai to innovate an AI-powered asthma monitoring platform.
  • Objectives:
    • Develop a system for predicting asthma exacerbations.
    • Combine Aevice Health’s smart stethoscope with Jiva.ai’s no-code AI technology.
    • Improve respiratory health management through remote monitoring.

Regional Insights

• North America: The largest market in 2023.
• Asia-Pacific: Expected to be the fastest-growing region during the forecast period.

The intelligent asthma monitoring devices market is poised for significant growth, driven by technological innovation and an increasing focus on respiratory health. As the market expands, collaborations and advancements in AI-powered solutions will continue to shape its future.

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