Research Nester published a report titled Wearable Asthma Monitor Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global wearable asthma monitor market in terms of market segmentation by application, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global wearable asthma monitor market is anticipated to attain a notable CAGR over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis of end-user into home care, hospitals, and others. Out of these, the home care segment is anticipated to hold the notable share over the forecast period on account of increasing demand for home care treatment, backed by rising cases of asthma in children. Moreover, using wearable monitors in home care can significantly reduce the cost of hospital visits, which is further estimated to boost the segment growth.

In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.

On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.

Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.

Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:

As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation. 

The global wearable asthma monitor market is estimated to grow on the back of growing cases of asthma amongst children. According to the data by the World Health Organization, asthma is the most common chronic disease amongst children. Moreover, 262 million people were diagnosed with asthma in 2019. Along with this, the demand for regular monitoring, is anticipated to drive the market growth. Wearable asthma monitors are based on artificial intelligence and machine learning for better understanding of symptom and triggers, which helps the monitors to accurately predict triggers and attacks. Such features are further estimated to boost the market growth.

On the basis of geographical analysis, the global wearable asthma monitor market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period on account of the rising incidences of asthma amongst children. As per the data by the Center for Disease Control and Prevention (CDC), 6 million children below 18 years have asthma, in the U.S.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Adoption of Advanced Technology to Boost the Market Growth

Wearable asthma monitor is a smart and advanced AI-based medical equipment, designed to predict asthma attacks, especially for children. Wearable monitors help medical professionals to clearly assess and understand the symptoms of the patient, which is estimated to boost the market growth. The growing demand for advanced medical devices is also anticipated to fuel the market growth.

However, low commercial manufacturing of wearable devices is expected to operate as key restraint to the growth of global wearable asthma monitor market over the forecast period.

The major medical device manufacturers, such as, Koninklijke Philips N.V., Pear Therapeutics, Inc., Sanofi-aventis Groupe, Abbott Laboratories, Johnson & Johnson Services, Inc., Siemens Healthcare GmbHMindstrong Health, and others are estimated to invest in the market. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wearable asthma monitor market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.  

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