Asthma Diagnostic Devices Market

Asthma Diagnostic Device Market By Device (Spirometer And Peak Flow Meter), End-User (Hospitals, Clinics & Diagnostic Centers, And Homecare) and geography is expected to grow at a steady CAGR forecast till 20230 owing to the rising prevalence of asthma and increasing technological advancement leading to the development of user-friendly and portable diagnostic devices

The global asthma diagnostic device market is estimated to grow at a CAGR of 4.76% during the forecast period from 2024 to 2030. The demand for asthma diagnostic device is primarily being bolstered by the rising prevalence of asthma. Additionally, increasing technological advancement leading to the development of user-friendly and portable diagnostic devices is another major factor which is contributing to the growth of the asthma diagnostic device market during the forecast period from 2024-2030.

Asthma Diagnostic Device Market Dynamics:

According to the data provided by the World Health Organization 2023, around 262 million people were suffering from asthma in the year 2019, globally. Additionally, the same source stated that around 455,000 deaths were caused due to asthma, globally.

According to the Asthma and Allergy Foundation of America 2023 report, an average of more than 27 million people in the United States suffer from asthma every year, which is equivalent to 1 in 12 people. The increasing prevalence of asthma can be attributed to various factors such as rising air pollution, tobacco smoking, and occupational hazards. This, in turn, will increase the demand for asthma detection, leading to positive growth in the Asthma Diagnostic Device market.

Another driver for the Asthma Diagnostic Device market is the increasing technological advancement leading to the development of user-friendly and portable diagnostic devices. Rising advancement in microelectronics and nanotechnology have enabled the miniaturization of diagnostic devices, and thus enabling the creation of compact and portable asthma diagnostic devices. This has facilitated the development of handheld and point-of-care diagnostic tools that are easy to use and transport. Further, with the widespread use of smartphones, many portable diagnostic devices now come with companion mobile applications. These apps allow users to interface with the device, receive results, and even share data with healthcare providers. This integration enhances accessibility and user convenience. Thus, the advancement in technology leading to the development of more efficient and sophisticated diagnostic tools, will eventually boost the growth of the asthma diagnostic device market.

However, stringent government regulations for product approval and inadequate reimbursement policies, are some of the key constraints that may limit the growth of the Asthma Diagnostic Device market.

Asthma Diagnostic Device Market Segment Analysis:

Asthma Diagnostic Device Market by Device (Spirometer and Peak Flow Meter), End-Users (Hospitals, Clinics & Diagnostic Centers, Homecare), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the technology segment of the Asthma Diagnostic Device market, the spirometer category is estimated to amass a significant revenue share in the Asthma Diagnostic Device Market in 2023. This can be attributed to the various advantages provided by spirometers. The device is usually used to measure lung volumes and capacities, providing valuable information about respiratory functions. The device is capable of diagnosing and monitoring conditions like asthma, chronic obstructive pulmonary disease, and other respiratory disorders. Additionally, spirometers are very useful in preoperative assessments as they are used to evaluate a patient’s lung function before surgery, guiding anesthetists and surgeons in planning procedures. Therefore, the various advantages provided by the spirometers will eventually contribute to the growth of the segment.

Furthermore, as the demand for this segment grows, various novel products are getting regulatory approval from various regulatory organizations. For example, in September 2023, Alveofit received approval from the US FDA for Alveoair. The Alveoair is a portable digital spirometer that offers real-time monitoring and provides valuable insights to healthcare professionals.

Therefore, owing to the above-mentioned factors, the spirometer category is expected to register significant growth, thereby driving the growth of the overall Asthma Diagnostic Device market during the forecast period.

North America Is Expected To Dominate The Overall Asthma Diagnostic Device Market:

North America is expected to account for the highest proportion of the Asthma Diagnostic Device Market in 2023, out of all regions. This is due to the rising prevalence of asthma in the region. Additionally, rising technological advancements, the presence of advanced healthcare infrastructure and major players in the region, and a highly viable market in terms of product development, and launches are some of the factors driving the growth of the Asthma Diagnostic Device Market in North America.

According to the data provided by the Centers for Disease Control and Prevention 2021, it was estimated that around 25 million people in the United States were suffering from asthma in the year 2021. Additionally, as per the data provided by the Asthma and Allergy Foundation of America (AAFA) 2023, around 38.7% of children below the age of 18 years, had reported having asthma attacks in the year 2021, in United States. Thus, with the rising prevalence of asthma in the region will create a need for the detection and management of such respiratory disorder, thus resulting in the positive growth of the Asthma Diagnostic Device Market in the United States, which will eventually propel the Asthma Diagnostic Device market in North America.

Further, various key product launches and product approvals in the region are some of the other factors that are influencing the positive growth of the market in North America. For example in April, 2021 Vitalograph launched a new generation Pneumotrac spirometer in the United Sates, along with its upgraded Spirotrac 6 Software.

Therefore, the factors mentioned above, and the increasing product launches and product approvals in the region are some of the important factors that are thereby responsible for driving the overall market for Asthma Diagnostic Devices in North America during the forecast period.

Asthma Diagnostic Device Market Key Players:

Some of the key market players operating in the Asthma Diagnostic Device market include Koninklijke Philips N.V., Baxter, ICU Medical, Jones Medical Instrument Company, Vyaire Medical, Teleflex Incorporated, ndd Medical Technologies, Vitalograph, Microlife Corporation, Sonmol, MGC Diagnostics Corporation, Forumed, SCHILLER, SIBEL, COSMED srl, Smart Respiratory Products Ltd., Medline Industries, LP, Besmed, Merit Pharmaceutical, and Clarity Medical.

Recent Developmental Activities In The Asthma Diagnostic Device Market:

• In August 2022, AstraZeneca entered into a partnership with Alveofit® to offer IoT enabled handheld spirometers at hospitals in India. The main aim of the partnership is introduce latest technological advancements in diagnosing and managing respiratory disorders across the country.
• In March 2020, Aluna received US FDA approval for its flagship device and companion smartphone app. Aluna is a mobile respiratory management platform that is used to monitor lung function scores. The device consists of a small spirometer that is connected via Bluetooth.

Key Takeaways From The Asthma Diagnostic Device Market Report Study

• Market size analysis for current Asthma Diagnostic Device Market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Asthma Diagnostic Device market.
• Various opportunities available for the other competitors in the Asthma Diagnostic Device Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Asthma Diagnostic Device market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Asthma Diagnostic Device market growth in the coming future?

Target Audience Who Can Be Benefited From This Asthma Diagnostic Device Market Report Study

• Asthma Diagnostic Device product providers
• Research organizations and consulting companies
• Asthma Diagnostic Devices related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Asthma Diagnostic Device
• Various End-users who want to know more about the Asthma Diagnostic Device Market and the latest technological developments in the Asthma Diagnostic Device Market.

Frequently Asked Questions For The Asthma Diagnostic Device Market:

1. What is meant by Asthma Diagnostic Devices?

Asthma Diagnostic Device refers to the medical tools and instruments used by healthcare professionals to assess and confirm the presence of asthma in individuals experiencing respiratory symptoms. These devices help measure various parameters related to lung function, airway responsiveness, and inflammation, providing valuable information for an accurate asthma diagnosis.

2. What is the market for Asthma Diagnostic Devices?

The global asthma diagnostic device market is estimated to grow at a CAGR of 4.76% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Asthma Diagnostic Device market?

The Asthma Diagnostic Device Market is slated to witness prosperity owing to factors such as the rising prevalence of asthma across the globe. Additionally, increasing technological advancement leading to the development of user-friendly and portable diagnostic devices is another major factor which is contributing to the growth of the Asthma Diagnostic Device market during the forecast period from 2024-2030.

4. Who are the key players operating in the global Asthma Diagnostic Device market?

Some of the key market players operating in the Asthma Diagnostic Device Market are Koninklijke Philips N.V., Baxter, ICU Medical, Jones Medical Instrument Company, Vyaire Medical, Teleflex Incorporated, ndd Medical Technologies, Vitalograph, Microlife Corporation, Sonmol, MGC Diagnostics Corporation, Forumed, SCHILLER, SIBEL, COSMED srl, Smart Respiratory Products Ltd., Medline Industries, LP, Besmed, Merit Pharmaceutical, and Clarity Medical.

5. Which region has the highest share in the global Asthma Diagnostic Device market?

North America is expected to dominate the overall Asthma Diagnostic Device Market during the forecast period, 2024 to 2030. This is due to the rising prevalence of asthma in the region. Additionally, rising technological advancements, the presence of advanced healthcare infrastructure and major players in the region, and a highly viable market in terms of product development, and launches are some of the factors driving the growth of the Asthma Diagnostic Device Market in North America.