DUBLIN–(BUSINESS WIRE)–The “Digital Dose Inhalers Market Insights, Competitive Landscape, and Market Forecast – 2027” report has been added to ResearchAndMarkets.com’s offering.
The global digital dose inhalers market will grow at a CAGR of 11.27% during the forecast period from 2022 to 2027.
Companies Mentioned
- Glenmark Pharmaceuticals
- Novartis AG
- ResMed
- Koninklijke Philips N.V.
- Teva Pharmaceutical Industries Ltd.
- H&T Presspart Manufacturing Ltd.
- AptarGroup, Inc.
- Amiko Digital Health Limited.
- Trudell Medical UK Limited
- BreatheSuite Inc.
- Opko Health, Inc.
- Cipla Inc.
- Sensirion AG
- 3M
- Adherium
The digital dose inhalers market is witnessing significant market growth due to the factors such as the rising prevalence of respiratory disorders such as asthma, chronic obstructive pulmonary disorder (COPD), cystic fibrosis, asthma-COPD overlap syndrome, and others.
Furthermore, the surging adoption of digital technology by key pharmaceutical players, the rising air pollution, increase in the population of smokers, and increasing exposure to dust, fumes, and airborne particles will spur the market of digital dose inhalers.
Additionally, the growing technological advancements such as recent product launches and regulatory approvals is expected to drive the overall market for digital dose inhalers during the forecast period (2022-2027).
Therefore, the market for digital dose inhalers is estimated to grow at a substantial CAGR during the forecast period from 2022 to 2027.
Market Dynamics
One of the key aspect for driving the digital dose inhalers market is the rising prevalence of various respiratory disorders globally.
For instance, as per data by the World Health Organization (WHO) 2022, asthma affected approximately nearly 262 million people in 2019, causing 455,000 deaths in the same year, globally.
Also, according to data by the Global Burden of Disease Study (2019), there were 212.3 million prevalent cases of COPD reported globally, accounting for 3.3 million deaths in the year 2019. In addition to asthma and COPD, the numbers for cystic fibrosis are constantly on the rise. As per data by the March of Dimes Organization (2019), about 70,000 to 100,000 people had cystic fibrosis in the year 2019 globally, affecting males and females at the same rate.
Moreover, the rising air pollution is also expected to drive the demand for digital dose inhalers in the upcoming years. For instance, as per the Organization for Economic Co-operation and Development 2022, by 2050 the emission of global greenhouse gases (GHGs) could be anticipated to increase by about 50%, majorly owing to 70% growth in energy-related CO2 emissions.
It also stated that the atmospheric concentration of GHGs could reach 685 parts per million (ppm) CO2- equivalents by 2050, resulting in the global average temperatures to be 3 to 6 degree Celsius above the pre-industrial levels by the end of the century.
Along with the factors mentioned above, the number of technological developments are constantly increasing, bolstering the growth of the digital dose inhalers market.
For instance, in February 2022, Aptar Pharma, a global leader in drug delivery systems, services and active material science solutions, announced the launch of HeroTracker Sense, a novel digital respiratory health solution that transforms a standard metered dose inhaler (pMDI) into a smart connected healthcare device.
DIGITAL DOSE INHALERS MARKET SEGMENT ANALYSIS:
Digital Dose Inhalers Market by Product Type (Dry Powder Inhalers and Metered Dose Inhalers), Application (Chronic Obstructive Pulmonary Disease, Asthma, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).
In the product type segment of the digital dose inhalers market, the dry powder inhalers segment is expected to have a significant revenue share in the year 2021. This was primarily owing to the increasing prevalence of respiratory diseases, increasing technological advancements pertaining to the device, and surging launches by the key players in the market.
For instance, dry powder inhalers (DPI’s) in general are easier to use than the metered dose inhalers (MDI) and cause fewer irritant effects.
Moreover, concerns related to the incidences of drug irritation caused by the presence of propellant components, such as chlorofluorocarbons (CFCs) in metered dose inhalers, have favored the adoption of the dry powder inhalers, with fewer irritant effects while delivering comparable therapeutic efficacy as metered dose inhalers. Thus, the dry powder inhalers are also known as propellant free inhalers.
Further, the DPI deposit the medicine in the lungs at a much higher rate than MDIs. This makes them more efficient and effective as they can provide a higher quantity of medicine with a single dose.
Additionally, the increasing product launches are also expected to contribute to the growth of the studied segment during the forecast period.
NORTH AMERICA IS EXPECTED TO DOMINATE THE OVERALL DIGITAL DOSE INHALERS MARKET:
Among all the regions, North America is expected to dominate the global digital dose inhalers market in the year 2021 and is expected to do the same during the forecast period from 2022-2027.
This can be ascribed to the escalating prevalence of various respiratory disorders, increasing burden of geriatric population prone to respiratory disorder, and the presence of key market players in the region are another factors which acts as a supportive factor for the North America’s digital dose inhalers market growth.
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