Asthma Monitoring Device Market: Current Analysis and Forecast (2022-2030)

The global asthma monitoring device market is a growing market that includes a range of devices used to measure and track asthma symptoms. These devices include peak flow meters, spirometers, and peak flow meters with spirometry. The market is driven by an aging population, an increase in asthma prevalence, and advances in technology. Opportunities for growth in the market include the development of new and improved devices and the increasing adoption of remote monitoring technology. Key trends in the market include the integration of asthma monitoring devices with mobile health apps and the growing use of spirometry in clinical settings. For instance, in September 2019, Aluna, a company focused on developing solutions for asthma management, received a grant from the National Science Foundation (NSF) to develop a user-friendly mobile device with a mobile application for asthma patients. The company has received a total of USD 1.1 million in grants to fund this project, which is likely to increase the devices' product sales and market value.

The asthma monitoring device market is expected to grow at a steady rate of around 7.1% owing to growing awareness about asthma management, favorable reimbursement policies, and rising healthcare expenditure. Furthermore, technological advancements in spirometry, such as the integration of wireless connectivity and cloud-based data management, enhance patient convenience and enable remote monitoring, which will fuel the growth of the market. For instance, in January 2020, the U.S. FDA approved Air Next-a wireless spirometer manufactured by NuvoAir-that is designed for at-home use by patients with cystic fibrosis, chronic obstructive pulmonary disease, and asthma, and can also transfer data to Air Next's mobile application.

Based on device, the market is segmented into spirometer, peak flow meter, and smart inhalers. The smart inhalers category is to witness higher CAGR during the forecast period owing to the increasing focus on patient-centric care, the need for improved medication adherence, and the rising adoption of digital health solutions. The integration of smart inhalers with telehealth platforms and electronic health records further enhances their market potential.

Based on end-user, the asthma monitoring device market has been classified into hospitals & clinics, homecare, and diagnostic laboratories. The homecare category is to witness higher adoption of the asthma monitoring device market during the forecast period. This is mainly due to the increasing emphasis on patient-centered care, the desire for convenience, and the need to reduce healthcare costs by avoiding unnecessary hospital visits. Asthma monitoring devices that are user-friendly, technologically advanced, and capable of remote data transmission align with the requirements of home care settings, thereby driving market growth. For instance, in 2023, koneksa, a healthcare technology company developing evidence-based validated digital biomarkers, announced the launch of a clinical study comparing the treatment effect between at-home mobile spirometry using digital biomarkers and in-clinic spirometry in patients with moderate asthma on long-acting beta-agonist (LABA) treatment.

For a better understanding of the market adoption of the asthma monitoring device industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising prevalence of asthma, increasing awareness about respiratory health, and the government's initiatives to improve healthcare infrastructure. A quarter of all people with chronic obstructive pulmonary disease (COPD) live in China, making it a large economic burden as per the National Institute of Health, in 2022. The incidence of pediatric asthma in China is around 3%, and asthma remains ineffectively controlled in large numbers of these patients. Additionally, the growing adoption of advanced technologies, such as smart inhalers and wearable devices, along with the increasing disposable income of the population, is fueling the market's expansion. Moreover, the presence of key market players and ongoing research and development activities further contribute to market growth.

Some of the major players operating in the market include: COSMED srl; Teleflex Incorporated; SCHILLER; Hill-Rom, Inc.; Koninklijke Philips N.V.; ICU Medical, Inc; SDI Diagnostics; AstraZeneca; Merck & Co., Inc.; BD