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COPD & Asthma Diagnostic and Monitoring Devices Market Research on a Budget Strategies for Cost-Effective Data Collection

COPD & Asthma Diagnostic and Monitoring Devices Market Research on a Budget Strategies for Cost-Effective Data Collection

Report Ocean has published a new report on the COPD & Asthma Diagnostic and Monitoring Devices Market in diverse regions to produce a report with more than 250+ pages. 

The global COPD & asthma diagnostic and monitoring devices market held a market value of USD 6,696.41 million in 2021 and is estimated to reach USD 13,971.38 million by the year 2030. The market is likely to register a CAGR of 8.45% during the forecast period. In addition to that, the market volume is estimated to account for 88.45 million units in 2021, with a growth rate of 6.18% over the anticipated period.

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With ever-increasing burden of diseases, coupled with the pandemic outbreak, the demand for asthma and COPD monitoring and diagnostic devices has been tremendously rising. Moreover, the exposure to environment pollution is also a factor boosting the demand. Furthermore, the portability of the drug delivery devices and the technological advancements drive the growth of the industry.

On the other hand, the strict regulatory framework hinders the growth of the industry. In addition to that, the high cost of the device is another factor hampering the preference rate of the COPD and asthma monitoring and diagnostic devices. Moreover, the product recalls also hinder the growth rate of the industry. For instance, in August 2022, Philips expanded an earlier announced recall of respiratory machines toa total of 1,700 devices globally owing toa possible contamination of a plastic component with a non-compatible material.

Growth Influencers:

Portability of the Drug Delivery Devices

The prominent players in the market are focusing on developing drug delivery devices that are portable, disposable, and provides other benefits. For instance, in September 2021, BreatheSuite received FDA 510 (k) clearance for its BreatheSuite metered-dose inhaler (MDI) V1 device. BreatheSuite designed the device to turn existing MDIs into smart inhalers by automatically monitoring and offering feedback on inhaler adherence and technique for people with asthma and COPD. It constitutes a disposable, battery-powered, portable MDI add-on and a mobile application based on behaviour change strategies. Thus, such new releases boost the growth rate of the market.

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Increase in population of active smokers

The rise in active smoker population drives the growth rate of the COPD and asthma diagnostic and monitoring devices industry. For instance, cigarette smoking prevails as the leading cause of preventable disease, and death in the United States, and the Office on Smoking and Health, National Center for Chronic Disease Prevention and Health Promotion mentions that it accounts for more than 480,000 deaths every year. Thus, such high statistics boost the demand in the market.

Segments Overview:

The global COPD & asthma diagnostic and monitoring devices market is segmented into product type, indication, and end user.

By Product Type,

Diagnostic Devices
o Spirometers
o Electrocardiograms
o FeNO Test analyzer
o Arterial blood gas analyzer (ABG)
o Polysomnography devices
o Peak flow meters
o Others
Monitoring Devices
o Pulse oximeters
o Capnographs
o Asthma monitors
o Portable tabletop pulse oximeter
o Wearable devices
o Fourier transform infrared spectroscopy (FTIR)
o Others
Consumables & Accessories
o Masks
o Spirometry accessories
o Polysomnography accessories
o Peak flow meter accessories
o Pulse oximeter sensors
o Capnography accessories
o Gas analyzer accessories
o Others

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The diagnostic devices segment held the major share of more than 60% in 2021.

By Indication,
Asthma
COPD

The COPD segment held the largest growth of 6.29% in 2021 owing to the increasing usage of diagnostic devices for COPD disease.

By End User,

Hospitals and clinics
Home care settings
Others

The hospitals and clinics segment held the highest market share of more than 60% in 2021, with the highest growth rate of 8.76%.

Regional Overview

By region, the global COPD & asthma diagnostic and monitoring devices market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and Latin America.

The North American market for COPD and asthma diagnostic and monitoring devices held the largest market share of more than 25% in 2020. The regional market held a revenue of USD 6,696.4 million. On the other hand, the Asia Pacific industry for COPD and asthma diagnostic and monitoring devices grew at the fastest growth rate of 9.14% over the anticipated period.

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The Middle Eastern and African market for COPD & asthma diagnostic and monitoring devices is also growing at a substantial rate due to the increasing strategic alliances.

Competitive Landscape

The chief companies operating in the global COPD & asthma diagnostic and monitoring devices market include Vyaire Medical, Smiths Medical, KONINKLIJKE PHILIPS N.V., Masimo Corporation, Medtronic plc, Invacare Corporation, Becton Dickinson & Company, and Getinge AB, among many others. the top ten players hold around 65% of the overall market share. The key market players are investing in product launches, collaborations, mergers and expansions to sustain in the market. For instance, in December 2020, Philips Engineering Solutions, and a Dutch company, Gilbert Technologies, announced their work to turn their proprietary soft mist technology into a first-of-a-kind medical inhaler device, which has the potential to improve treatment effectiveness for patients and reduce medical costs.

Table of Content:

  • Report Overview
  • Global Growth Trends
  • Competition Landscape by Key Players
  • Data Segments
  • North America Market Analysis
  • Europe Market Analysis
  • Asia-Pacific Market Analysis
  • Latin America Market Analysis
  • Middle East & Africa Market Analysis
  • Key Players Profiles Market Analysis
  • Analysts Viewpoints/Conclusions
  • Appendix

Continue……..

The global COPD & asthma diagnostic and monitoring devices market report provides insights on the below pointers:

 Market Penetration: Provides comprehensive information on the market offered by the prominent players
 Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
 Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global COPD & asthma diagnostic and monitoring devices market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
 Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
 Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of COPD & asthma diagnostic and monitoring devices
 Manufacturing Cost Analysis: Cost-share of various components in COPD & asthma diagnostic and monitoring devices, cost analysis of COPD & asthma diagnostic and monitoring devices.

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The global COPD & asthma diagnostic and monitoring devices market report answers questions such as:

What is the market size and forecast of the global COPD & asthma diagnostic and monitoring devices market
What are the inhibiting factors and impact of COVID-19 on the global COPD & asthma diagnostic and monitoring devices market during the assessment period
Which are the products/segments/applications/areas to invest in over the assessment period in the global COPD & asthma diagnostic and monitoring devices market
What is the competitive strategic window for opportunities in the global COPD & asthma diagnostic and monitoring devices market
What are the technology trends and regulatory frameworks in the global COPD & asthma diagnostic and monitoring devices market
What is the market share of the leading players in the global COPD & asthma diagnostic and monitoring devices market
What modes and strategic moves are considered favorable for entering the global COPD & asthma diagnostic and monitoring devices market

Key Metrics Explored in Report Ocean Research Service:

Market Size: Quantifying the total value or volume of the market to provide a comprehensive understanding of its scale and potential.

Market Growth Rate: Measuring the rate at which the market is growing over specific periods to assess attractiveness and potential for investment.

Market Share: Analyzing the portion or percentage of the market captured by specific companies or products, providing insights into competitive positions.

Customer Satisfaction: Assessing levels of satisfaction or dissatisfaction among customers with a focus on products, services, or brands. This aids in gauging customer loyalty and identifying areas for improvement.

Pricing Analysis: Examining pricing strategies, including average prices, price differentials, and price elasticity, to understand market dynamics.

Market Segmentation: Dividing the market into distinct segments based on demographics, geography, behavior, or psychographics to understand varying needs and preferences.

Customer Acquisition Cost (CAC): Calculating the cost of acquiring a new customer to evaluate the efficiency of marketing and sales efforts.

Customer Lifetime Value (CLV): Measuring the total value a customer generates over their entire relationship with a company to assess long-term profitability.

Return on Investment (ROI): Evaluating the profitability and effectiveness of investments or marketing campaigns by measuring returns relative to costs.

Competitive Analysis: Assessing the performance and strategies of competitors, including market share, revenue growth, product portfolio, and customer satisfaction.

Key Performance Indicators (KPIs): Utilizing specific metrics to measure business or organizational performance, such as sales growth, market penetration, customer retention rate, and profitability.

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About Report Ocean:

Report Ocean stands as a preeminent provider of market research reports within the industry. Renowned globally, we are acclaimed for delivering insightful and informative research reports. Our commitment lies in furnishing clients with a comprehensive blend of both quantitative and qualitative research outcomes. As an integral component of our expansive global network and thorough industry coverage, we offer an in-depth reservoir of knowledge that empowers strategic and well-informed business decisions. Our approach integrates cutting-edge technology, advanced analysis tools, and our proprietary research models, all underpinned by years of expertise. This synergy allows us to craft essential details and facts that consistently surpass expectations.

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