Wearable Asthma Monitor Market Size & Share, by Product (Wearable Patches, Wearable Wrist Bands, Wearable Respiratory Monitoring System); Technology (Cloud-based, AI-based); End-User (Hospital, Homecare) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 3919
  • Published Date: Jan 12, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Wearable Asthma Monitor Market size is poised to reach USD 2.4 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of wearable asthma monitor was USD 1 Billion. The reason behind the growth is due to the increasing burden of asthma in children which consistently puts a strain on the healthcare system and is generally caused by exposure to tobacco smoke in the surroundings, and exposure to various allergens and irritants in the environment.

For instance, more than 10% of children worldwide reported having asthma symptoms in the previous year, making asthma the most prevalent non-communicable disease in children and contributing significantly to the global disease burden.

The growing technological advancements in wearable devices are believed to fuel the market growth. For instance, A wearable device such as “wearable AI” is being developed through an international collaboration between Canada and Germany, to monitor the symptoms of asthma and COPD, and will aid in analyzing data in almost real-time, safeguarding speech privacy and enabling doctors and patients to act promptly on information.


Wearable Asthma Monitor Market
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Wearable Asthma Monitor Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Geriatric Population - The general population's growing longevity will lead to an increase in asthma cases driven by exposure to allergies Animal dander, and smoking which significantly lowers the quality of life, and raises the mortality and hospitalization rates. According to the World Health Organization (WHO), the proportion of people over 60 in the world will increase from around 11 to over 20% between 2015 and 2050.
  • Growing Air Pollution - An individual's health can be negatively impacted by air pollution and poor air quality, leading to conditions including a larger percentage of severe asthma since air pollution contains hazardous compounds that have the potential to be damaging to the respiratory system. As per the World Health Organization (WHO), around 7 million people die from air pollution each year in the world.
  • Increasing Popularity of Remote Patient Monitoring- Remote patient monitoring devices including wristbands, watches, or patches hold significant potential to support asthma patients and help optimize asthma management since they aid in real-time monitoring, and are considered a suitable substitute for in-person visits.

Challenges

  • Security and Privacy Concerns - In terms of device security and privacy, wearable technology is still in its infancy as this technology shares data with other apps and services, and it's frequently unclear how this data is being used. Most of the time, wearables are directly connected to apps, and such apps will have a variety of personal data which enables the majority of hackers to gravitate toward easy targets and look for vulnerabilities.
  • Slow Commercial Production of Wearable Monitors Owing to Shortage of Technologies and Other Resources
  • Lack of Awareness Due to Limited Marketing Efforts and Lack of Educational Campaigns in Lower Economic Regions

Wearable Asthma Monitor Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~8%

Base Year Market Size (2023)

~ USD 1 Billion

Forecast Year Market Size (2036)

~ USD 2.4 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Wearable Asthma Monitor Segmentation

Product (Wearable Patches, Wearable Wrist Bands, Wearable Respiratory Monitoring System)

The wearable patches segment in the wearable asthma monitor market is estimated to gain a robust revenue share of 40% in the coming years. Recent rapid advancements in computer microchip technology may soon allow asthma sufferers to stop using their inhalers as researchers, have created a patch that includes sensors that track a patient’s movement, heart rate, respiratory rate, and the amount of oxygen in the blood. Besides this, in November 2021 Respira Labs introduced an AI-powered chest wearable with embedded microphones and speakers, Sylvee for monitoring lung health in general. Furthermore, it is designed to be worn on the lower rib cage by patients to measure lung air volume.

Additionally, to anticipate and prevent asthma episodes, scientists have created a wearable sensor system, which resembles a wristband that aids in real-time monitoring of the wearer's activity level, heart rate, and exposure to ozone from the environment. Moreover, the wristband primarily monitors atmospheric ozone and volatile organic chemicals, among other environmental parameters, and notifies healthcare providers of some extraordinary events about their treatment.

Application (Hospital, Homecare)

Wearable asthma monitor market from the homecare segment is set to garner a notable share shortly. A home remedy for an asthma attack does not exist however, symptoms can be reduced to avert asthma attacks and manage the condition better by using wearable devices incorporated with a variety of sensors to provide ongoing patient monitoring.

Physicians can help treat children with asthma at home by using wearable gadgets, such as spirometers, and peak flow meters which help in measuring heart rate, respiration rate, and cough volume and alert about an asthma episode using this information. For instance, a spirometer is perfect for remote COPD and asthma management as it can also be manually connected to the patient's phone to record peak flow readings, and to forecast when their symptoms may get worse.

Our in-depth analysis of the global market includes the following segments:

     Product

  • Wearable Patches
  • Wearable Wrist Bands
  • Wearable Respiratory Monitoring System

     Technology

  • Cloud-based
  • AI-based

     Application

  • Hospital
  • Homecare

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Wearable Asthma Monitor Industry - Regional Synopsis

North American Market Forecast

Wearable Asthma Monitor market in North America is predicted to account for the largest share of 42% by 2036 impelled by the increasing spending in healthcare. This has led to an increase in the development of more efficient, convenient, comfortable, and appealing to children, wearable technologies, for the management of respiratory diseases in the region.

As per estimates, the amount spent on health care in the United States increased by more than 4% in 2022, or around USD 13,492 per person.

APAC Market Statistics

The APAC Wearable Asthma Monitor market is estimated to be the second largest, during the forecast timeframe led by the increasing patient knowledge about respiratory disorders such as asthma. People in the area are therefore seeking a prompt diagnosis for overcoming the illness, which may necessitate the use of promising telemonitoring instruments such as wearable technology for continuous monitoring. Additionally, India has emerged as the world's third-largest market for wearable gadgets, owing to the declining costs and anticipated increases in usage. For instance, India’s wearable market grew by more than 37% year over year in the second quarter of 2023.

Research Nester
Wearable Asthma Monitor Market Size
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Companies Dominating the Wearable Asthma Monitor Landscape

top-features-companies
    • Abbott Laboratories
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Airways Surgical Pvt. Ltd.
    • Besmed Health Business Corp.
    • Braun & Co. Ltd.
    • Medline Industries Inc.
    • Smiths Medical Inc.
    • Flexicare (Group) Ltd.
    • For Care Enterprise Co. Ltd.
    • JG Moriya
    • SunMed
    • Fisher & Paykel Healthcare

In-the-news

In The News

  • Flexicare (Group) Ltd. announced a partnership with a leading healthcare improvement company, Premier, Inc. to offer a leading line of respiratory products that improve patient care, such as laryngeal mask airway and laryngoscope, encourage the highest level of dedication through group purchases of superior goods and services, and attain best-in-market pricing.
  • SunMed announced the acquisition of Avanos, a medical technology company to purchase all of the assets which include endotracheal tubes, closed suction catheters, and oral care products to provide its clients superior anesthetic and respiratory care services.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 3919
  • Published Date: Jan 12, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The increasing burden of asthma in children and the growing technological advancements in wearable devices are the major factors driving the growth of the market.

The market size of wearable asthma monitor is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2024-2036.

The major players in the market are Abbott Laboratories, Medline Industries Inc., Smiths Medical Inc., Flexicare (Group) Ltd., For Care, Enterprise Co. Ltd., JG Moriya, SunMed , Fisher & Paykel Healthcare, OMRON Corporation, Nihon Kohden Corporation, Philips Respironics, and others.

The wearable patches segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Wearable Asthma Monitor Market Report Scope
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