Dublin, Aug. 22, 2022 (GLOBE NEWSWIRE) -- The "Digital Dose Inhalers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Digital Dose Inhalers Market to Reach $4.9 Billion by 2026
Amid the COVID-19 crisis, the global market for Digital Dose Inhalers estimated at US$3.1 Billion in the year 2022, is projected to reach a revised size of US$4.9 Billion by 2026, growing at a CAGR of 13.1% over the analysis period.
Digital dose inhalers are advanced, smart devices intended to treat and manage drug delivery for various respiratory conditions like asthma and chronic obstructive pulmonary disease (COPD). Digital dose inhalers deliver accurate amount of drug to patient`s lungs as a short burst of aerosolized medication. Patients can self-administer these medications through inhalation. These devices come with inbuilt sensors for recording inhaler use and measuring inspiratory flow in line with dose management.
Growth in the global market is poised to benefit from rising prevalence of various respiratory disorders, favorable reimbursement policies and technological advances. The market for digital dose inhalers is propelled by rising incident of chronic respiratory conditions including asthma, respiratory allergies, chronic pulmonary obstructive disease (COPD) and obstructive sleep apnea that adversely affect quality of life of patients.
COPD accounts for around 6% or more than 3 million deaths globally, with low- to middle-income nations reporting over 90% of these deaths, creating significant demand for advanced respiratory devices. The market is further driven by increasing aging population that is highly vulnerable to mild to severe forms of respiratory disorders. These next-generation devices are also benefitting from rising uptake of digital devices, pressing requirement for patient compliance to medications, need for dose tracking and high investment in R&D activity to come up with miniaturized, innovative devices.
Metered Dose, one of the segments analyzed in the report, is projected to grow at a 12.4% CAGR to reach US$3.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dry Powder segment is readjusted to a revised 14.3% CAGR for the next 7-year period.
This segment currently accounts for a 35.7% share of the global Digital Dose Inhalers market. The Metered Dose segment dominates the market due to extensive availability, rising incident of chronic heart conditions and increasing healthcare spending. These inhalers present a user-friendly and cost-efficient option to users that ensures accurate delivery of the dose for inhalation.
Metered dose inhalers are gaining from rising cases of respiratory conditions including chronic respiratory disorders, chronic obstructive pulmonary diseases and asthma. The segment is benefitting from increasing awareness regarding numerous advantages of advanced devices over conventional options.
The metered dose inhaler segment is poised to be bolstered by increasing use of soft mist inhalers as a result of rising uptake of enhanced drug delivery systems coupled with ongoing technological advancements. On the other hand, the dry powder inhaler segment is predicted to experience the fastest growth rate over the coming years on account of increasing concerns associated with drug irritation caused by propellant components found in metered dose inhalers, like chlorofluorocarbons.
The U.S. Market is Estimated at $1.3 Billion in 2022, While China is Forecast to Reach $418.2 Million by 2026
The Digital Dose Inhalers market in the U.S. is estimated at US$1.3 Million in the year 2022. The country currently accounts for a 42.48% share in the global market.
China, the world's second largest economy, is forecast to reach an estimated market size of US$418.2 Million in the year 2026 trailing a CAGR of 16.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11% and 11.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.6% CAGR while Rest of European market (as defined in the study) will reach US$480.1 Million by the end of the analysis period.
An interesting trend to note is the ongoing trials targeting the use of inhalers to treat COVID-19. Researchers have come up with an inhaler-based, life-saving treatment with the potential to protect COVID-19 patients from experiencing severe signs.
The approach relies on a protein, interferon beta-1a (SNG001), which is produced by the body during viral infection. Inhalation of the protein is anticipated to trigger the immune response and prompt cells to fight against the virus.
In another development, a group of researchers isolated an antibody from llamas with potential to treat or prevent COVID-19. The antibody would be delivered to patients using inhalers.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- COVID-19 Healthcare Emergency Highlights Critical Significance of Digital Dose Inhalers
- Ongoing Studies Exploring Use of Inhalers-based Therapies to Treat COVID-19
- COVID-19 Pandemic Pushes Patient Compliance Linked with Inhaler-based Drug Regime
- An Introduction to Digital Dose Inhalers - Smart Aids to Manage Dose Delivery for Respiratory Conditions
- Metered Dose Inhalers (MDI)
- Dry Powder Inhalers (DPI)
- Global Market Prospects and Outlook: High Prevalence of Respiratory Diseases Keeps Digital Dose Inhalers Market in Hale & Hearty Condition
- Salient Growth Drivers
- Analysis by Product: Metered Dose Inhalers Occupy Commanding Share
- Analysis by Type of Medication: Branded Medications Segment Hold Major Share
- Regional Analysis: North America to Retain Leadership Position in Digital Dose Inhalers Market
- Developed Regions Account for Lion's Share of World Digital Dose Inhalers Market
- Competitive Scenario
- Recent Market Activity
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERSSelect Competitors (Total 23 Featured):
- AptarGroup, Inc.
- AstraZeneca plc
- Cipla Inc.
- GlaxoSmithKline plc
- Glenmark Pharmaceuticals Ltd.
- H&T Presspart Manufacturing Ltd.
- Koninklijke Philips N.V.
- Lupin Ltd.
- Novartis International AG
- Teva Pharmaceutical Industries Ltd.
3. MARKET TRENDS & DRIVERS
- Digital Dose Inhaler Technology Sees Proliferation of IoT
- Advantages of the IoT-Enabled Digital Dose Inhaler
- Market to Gain from Ongoing R&D Emphasis on Advanced Treatments for Pulmonary Diseases
- Established Role of Inhaler Therapy in Respiratory Care Augurs Well
- Growing Prevalence of Asthma Provides the Perfect Platform for Market Expansion
- Mounting Burden of COPD Drives Demand for Digital Dose Inhaler Technology
- Dry Powder Inhalers Set to Make Big Gains
- Metered Dose Inhalers Continue to Exhibit Sustained Growth Momentum
- Smart Inhalers Come to the Fore
- Artificial Intelligence to Add Sophistication to Inhaler Technology
- New HME Method to Augment Inhaler Technology
- 3D Printing Seeks Role in Inhaler Manufacturing
- Uptrend in Healthcare Spending to Result in Improved Opportunities
- Vulnerability of Growing Geriatric Population to Respiratory Diseases Enhances Prospects for Digital Inhalers
- Life Expectancy at Birth for Select Countries in Number of Years
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/h0ng8b
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