COPD and Asthma Diagnostic and Monitoring Device Market is Expected to Reach $8.20 Billion by 2027: Allied Market Research

Daily exposure to environmental pollution, increase in population susceptible to indoor air pollutants, portability of the drug delivery devices, rise in population of active smokers, and surge in the number of surgeries fuel the growth of the global asthma diagnostic and monitoring device sector. Based on region, the market across North America held the lion’s share in 2019, and is expected to lead the trail throughout the forecast period.

/EIN News/ -- Portland, OR, April 22, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global COPD And Asthma Diagnostic And Monitoring Device Industry was pegged at $4.95 billion in 2019, and is expected to garner $8.20 billion by 2027, with a CAGR of 6.3% from 2020 to 2027.

Daily exposure to environmental pollution, increase in population susceptible to indoor air pollutants, portability of the drug delivery devices, rise in population of active smokers, and surge in the number of surgeries fuel the growth of the global asthma diagnostic and monitoring device sector. However, high costs of the device and stringent regulatory procedures restrain the growth to some extent. On the other hand, high growth potential in developing markets and rise in geriatric population are projected to present an array of opportunities in the industry.

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Covid-19 scenario-

The use of COPD and asthma diagnostic and monitoring devices has increased during the covid-19 outbreak, owing to keep track of physiological functions of lungs.
The augmented demand and utilization is likely to continue post pandemic as well, since the key players are supporting up the development of the health system actively.

The global COPD and asthma devices market is segmented on the basis of product, indication, end user, and region. Based on product, the diagnostic devices segment held the highest revenue share with more than two-thirds of the global asthma diagnostic and monitoring device market share in 2019, and is expected to lead the trail by the end of 2027. However, the consumables and accessories segment is expected to portray the fastest CAGR of 7.4% throughout the forecast period.

Based on indication, the asthma segment dominated the market with highest revenue share, accounting for nearly two-thirds of the global asthma diagnostic and monitoring device market revenue in 2019, and is projected to lead the trail by 2027. On the other hand, the COPD segment is expected to grow at the fastest CAGR of 6.7% from 2020 to 2027.

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Based on region, the market across North America held the lion’s share in 2019, with nearly two-fifths of the global asthma diagnostic and monitoring device market. On contrary, the market across Asia-Pacific is expected to manifest the fastest CAGR of 7.0% during the forecast period. The market is also studied across Europe and LAMEA.

Major market players profiled in the report include Masimo Corporation, Medtronic Plc, Koninklijke Philips N.V, Nihon Kohden Corporation, Smiths Medical, Becton Dickinson And Company, Drägerwerk AG & CO. KGAA, Getinge AB, Invacare Corporation, and Vyaire Medical Inc.

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