Digital Dose Inhaler Market to Register a CAGR of 10% over the Forecast Period | Key Players: Novartis AG, Glenmark Pharmaceuticals Ltd., Propeller Health

The global digital dose inhaler market is expected to be valued worth of USD 4.45 Billion by 2028 from initial value of USD 2 Billion, registering a CAGR of over 10% over the forecast period.

Inhalers are medical devices that inject medicine into the human body through the lungs. Allergy spray, pump, or puffer are all terms used to describe these medical devices. These instruments are widely used in the care and delivery of medications for respiratory disorders such as asthma and chronic obstructive pulmonary disease. Inhalers help to reduce drug deposition in the throat or mouth while also reducing the need for precise synchronization with the medical device's actuation. Inhalers with built-in sensors are known as digital inhalers, and they help with inhaler usage monitoring, dose enforcement, and dose control.

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Over the forecast period, the rising prevalence of respiratory diseases like asthma and chronic obstructive pulmonary disease (COPD) is expected to be a major driver for the global smart inhalers market. People with asthma (PWA) are thought to be at a greater risk of respiratory infections, as shown by the annual influenza outbreak. PWA is generally thought to be at increased risk from COVID-19 at the start of the pandemic.

The growing threat of air pollution has resulted in an increase in the prevalence of respiratory diseases in the developed world, with metropolitan areas in particular seeing a rapid increase in the prevalence of many respiratory diseases, such as asthma and COPD.

Growth Drivers that Support the Global Digital Dose Inhaler Market:

• Based on Product segment, the highest revenue was produced by the metered dose inhalers (MDIs) segment in 2019, owing to an increased preference for MDIs. However, due to increasing understanding of the negative effects of chlorofluorocarbons used as a propellant in MDIs, the dry powder inhalers (DPIs) segment is expected to be the fastest growing group with a CAGR of 16.9% over the forecast period.

• Based on Type segment, the branded medication respiratory devices segment accounted for the largest market share in 2019. The growth of the segment is due to the increasingly increasing demand for advanced respiratory drugs and thus the rising recognition of the benefits of combination medicine.

• Because of increased research and development efforts, the prevalence of respiratory disorders in both the geriatric and pediatric populations, and the rise in awareness associated with the availability of hi-tech respiratory devices, North America dominates the digital dose inhaler market.

• In 2019, North America had the largest share. The presence of several medical device players in this area, such as Johnson & Johnson, Cohera Medical, Inc., Teleflex Medical, Inc., Covidien Plc, and others, is responsible for this large share. This area is home to over 6,000 medical device firms, the majority of which are small and medium-sized businesses (SMEs).

• Due to an increase in demand for advanced respiratory care products, a change in aggregate healthcare spending, favorable government initiatives, and the expansion of healthcare infrastructure in the country, Asia-Pacific is expected to expand at the fastest rate during the forecast period.

• The presence of favorable government initiatives, such as the "Make in India" initiative, which supports startup companies with subsidized land rates to develop their manufacturing units, as well as various other additional incentives in the form of tax sops and waivers from electricity tax, excise tax, and import duties for the first few years. This is anticipated to provide a greater boost to the development of this industry.

Recent Developments in the Global Digital Dose Inhaler Market:

• 17 February 2021 - Pharmaceutical firm Chiesi unveiled the UK's first postal inhaler recycling scheme to promote a more healthy way of life for people with respiratory illnesses.

• On October 8, 2020, Zydus Cadila launched a Forglyn pMDI, India's first pressurised Metered Dose Inhaler (pMDI) with a blend of Long Acting Muscarinic Antagonist (LAMA) and Long Acting Beta Agonist (LABA) for patients with COPD.

• On 21 sep 2020 - Teva Respiratory, LLC (NYSE and TASE: TEVA), a U.S. subsidiary of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA), announced the launch of AirDuo® Digihaler® (fluticasone propionate and salmeterol) inhalation powder and ArmonAir® Digihaler® (fluticasone propionate) inhalation powder, two digital maintenance inhalers for asthma patients.

• On 8th julu 2020 Propeller Health and Novartis are teamed up to co-package the Propeller digital health platform with Enerzair Breezhaler, a newly approved Novartis drug for uncontrolled asthma.

• 07 July 2020 - The European Commission accepted in the EU the once-daily Enerzair® Breezhaler® (QVM149; IND/GLY/MF), the first-in-class LABA/LAMA/ICS fixed-dose formulation for patients with asthma who are uncontrolled with LABA/ICS1.

Major companies functioning in the global Digital Dose Inhaler market are Novartis AG, Glenmark Pharmaceuticals Ltd., Propeller Health, Philips Respironics, AstraZeneca Plc, Opko Health, Inc., and Teva Pharmaceutical Industries Ltd.

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The Digital Dose Inhaler Market Report's Objective:

• The main goal of this report is for its readers to be able to comprehend the entire scenario of the global market. It provides an overview of the industry, including segmentation, market opportunities, influential trends, and challenges.

• To provide a concise overview of key competitors in order to conduct a competitive analysis and gain a better understanding of the Digital Dose Inhaler market.

• To conduct a competitive analysis of each submarket's individual growth pattern and contribution to the Digital Dose Inhaler market.

• To include comprehensive profiles of key players, as well as geographic insight and a focus on the markets key emerging opportunities and challenges.

• Analyze competitive trends in the Digital Dose Inhaler industry, such as market extensions, partnerships, new product releases, and acquisitions.

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