The report covers forecast and analysis for the digital dose inhaler market on a global and regional level. The study provides historic data from 2016 along with forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the digital dose inhaler market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the digital dose inhaler market on a global as well as regional level.
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.
In order to give the users of this report a comprehensive view on the digital dose inhaler market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the digital dose inhaler market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the digital dose inhaler market on global and regional basis.
The study provides a crucial view on the digital dose inhaler by segmenting the market based on product, application, and region. All the segments of digital dose inhaler market have been analyzed based on present and future trends and the market is estimated from 2018 to 2025.
An inhaler is a medical device that delivers medication into the body via the lungs. These inhalers are also called as allergy spray, pump or puffer. Inhalers are widely used for treatment and medication delivery for respiratory diseases such as chronic obstructive pulmonary disease and asthma. Inhalers reduce medication deposition in throat or mouth and also minimize 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.
The demand for digital dose inhaler market is driven by increasing prevalence of chronic respiratory diseases such as asthma, chronic pulmonary obstructive disease (COPD) and related decrease in quality of life of patient. Increasing geriatric population across the world, increasing preference and adoption of digital devices, increasing R&D investment for technological improvement and device miniaturization, growing need to achieve medication compliance, patient care enhancement and dose tracking are other important factors that boost the market growth. However, high cost of digital dose inhalers may limit the market growth over the forecast period. Integration of artificial intelligence for digital dose tracking and compliance is expected to bring new opportunities for major market players operating in the global digital dose inhaler along with growth opportunities in emerging markets.
Based on product, global digital dose inhaler market dry powder inhalers (DPIs) and metered dose inhalers (MDIs). Metered dose inhalers (MDIs) product segment accounted for about two third market share in 2018 due to significant innovations such as automatic PK/PD (pharmacokinetic/pharmacodynamics) modeling, electronic monitoring system with patient feedback and controlled release of formulations. Dry powder inhalers (DPIs) product type segment is expected to witness rapid CAGR over the forecast period.
Based on application, digital dose inhaler market is categorized into asthma, chronic obstructive pulmonary disease (COPD), and other applications. Asthma application segment accounted for largest market share in 2018 whereas chronic obstructive pulmonary disease (COPD) segment will see rapid growth over the forecast period. Rising asthma prevalence across the globe has attributed to the large market share.
North America dominated the global digital dose inhaler market in 2018. Increasing prevalence of chronic respiratory disorders, increasing preference for digital devices, presence of major market players, increasing aging population are factors driving the market in this region. Europe was second largest regional market. Availability of developed infrastructure, increasing awareness and prevalence of respiratory disorders are major factors that boost market growth in this region. Latin America is expected to witness moderate growth over the forecast period. Asia Pacific region will exhibit highest growth for digital dose inhaler market in the coming years. Increasing aging population with high vulnerability to chronic respiratory disorders, growing prevalence of asthma, COPD, increasing healthcare expenditure are factors promoting digital dose inhaler market growth in Asia Pacific. Middle East and Africa will see considerable growth in coming years.
Major players included in the report are Philips Respironics, Teva Pharmaceuticals Industries Ltd., AstraZeneca Plc, Novartis AG, Propeller Health, Opko Health, Inc., Glenmark Pharmaceuticals Ltd., GlaxoSmithKline plc., AptarGroup, Inc., and Cipla, Inc. among others.
The report segment of global digital dose inhaler market as follows:
Global Digital Dose Inhaler Market: By Product
Global Digital Dose Inhaler Market: By Application
Global Digital Dose Inhaler Market: By Region