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Oct 1, 2020 11:22 AM ET

Global Digital Dose Inhaler Market Is Set For Rapid Growth, To Reach Around USD 3.70 Billion by 2025

iCrowd Newswire - Oct 1, 2020

Zion Market Research has published a new report titled “Digital Dose Inhaler Market by Product (Dry Powder Inhalers (DPIs) and Metered Dose Inhalers (MDIs)); by Application (Chronic Obstructive Pulmonary Disease (COPD), Asthma, and Other Applications): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025”. According to the report, global demand for digital dose inhaler market was valued at approximately USD 1.46 billion in 2018, and is expected to generate revenue of around USD 3.70 billion by end of 2025, growing at a CAGR of around 14.3% between 2019 and 2025.

Global Digital Dose Inhaler Market

A medical device that delivers medication into the body through the lungs is called as an inhaler. These are also referred to as pump, puffer or allergy sprays. Inhalers have great significance in chronic respiratory diseases. These inhalers are most commonly used for medication delivery and treatment of various respiratory diseases like asthma, COPD (chronic obstructive pulmonary disease) and other respiratory diseases. Inhalers decrease deposition of medication in mouth or throat and also reduce the need for exact synchronization with actuation of the device. Digital inhalers are equipped with built-in sensors that help in tracking usage of inhalers, dose management and dose compliance.

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The global digital dose inhaler market growth is fueled by growing prevalence of chronic respiratory diseases like COPD, asthma, and associated decrease in quality of life of patient. Growing elderly population across the globe, increasing R&D investment for device miniaturization and technological enhancement of devices, growing preference and adoption of digital devices, mounting need to achieve medication compliance and better patient care and dose tracking are additional factors that propel the market growth. However, high cost of devices may hamper the market growth in the coming years. Incorporation of artificial intelligence (AI) for digital dose compliance and dose tracking is projected to bring new growth avenues for major market players working in the digital dose inhaler.

Global digital dose inhaler market is segmented based on application, product and region. Metered dose inhalers (MDIs) and dry powder inhalers (DPIs) are product type segments of digital dose inhaler market. Among product segment, metered dose inhalers (MDIs) held almost two third revenue share in 2018. This large share is attributed to noteworthy innovations like automatic pharmacokinetic/pharmacodynamics (PK/PD) modeling, controlled release of formulations and electronic monitoring system with patient feedback. Fastest growth is expected for dry powder inhalers (DPIs) product type segment over the forecast period.

Based on application, market is segmented into chronic obstructive pulmonary disease (COPD), asthma, and other applications. Largest share was held by asthma application segment in 2018. On the other hand, chronic obstructive pulmonary disease (COPD) application segment is projected to witness rapid growth in the coming years. Increasing asthma prevalence worldwide has attributed to this largest revenue share.

At regional level, North America held dominating market share for the global digital dose inhaler market in 2018. Various factors such as increasing preference and adoption of digital devices, growing prevalence of chronic respiratory disorders, increasing aging population and presence of major market players in this region help drive the market in this region. Europe was second major regional market. Presence of developed infrastructure, growing prevalence of respiratory disorders and increasing awareness are important factors that support market growth in this region. Latin America is projected to witness modest growth during the forecast period. Asia Pacific region will show fastest growth for digital dose inhaler market over the forecast period. Growing elderly population with high susceptibility to respiratory disorders, increasing prevalence of COPD, asthma, increasing healthcare spending are factors stimulating market growth in Asia Pacific. Middle East and Africa will register noticeable growth in the future.

Major players included in the report are Teva Pharmaceuticals Industries Ltd., Philips Respironics, Novartis AG, AstraZeneca Plc, Opko Health, Inc., Propeller Health, GlaxoSmithKline plc., Glenmark Pharmaceuticals Ltd., Cipla, Inc. and AptarGroup, Inc. and among others.

The report segment of global digital dose inhaler market as follows:

Global Digital Dose Inhaler Market: By Product

Global Digital Dose Inhaler MarketBy Application

Global Digital Dose Inhaler Market: By Region

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Keywords:    Digital Dose Inhaler Market

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