Dublin, March 27, 2024 (GLOBE NEWSWIRE) -- The "Digital Dose Inhaler Market Report by Type (Branded Medication, Generics Medication), Product (Metered Dose Inhaler, Dry Powder Inhaler), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global digital dose inhaler market reached US$ 3.3 billion in 2023. Looking forward, the market is projected to reach US$ 10.1 billion by 2032, exhibiting a growth rate (CAGR) of 13.2% during 2023-2032.
At present, the increasing adoption of DDIs, as they offer enhanced convenience and effectiveness in medication delivery, is bolstering the growth of the market. Besides this, the growing demand for efficient and effective inhalation devices among patients is offering a positive market outlook. In line with this, the rising adoption of DDIs among the geriatric population, as they are more prone to respiratory issues, is propelling the market growth.
Apart from this, the increasing utilization of DDIs, as they make treatment more transparent and potentially more effective, is contributing to the market growth. Furthermore, the integration of artificial intelligence (AI) in DDIs to enable enhanced monitoring of medication usage and provide real-time feedback to patients is strengthening the market growth. Moreover, the increasing focus on personalized medicines among individuals is supporting the market growth.
Increasing prevalence of chronic respiratory diseases
The rising prevalence of chronic respiratory diseases (CRDs), such as asthma and chronic obstructive pulmonary disease (COPD), among the masses worldwide is contributing to the market growth. In addition, there is an increase in the demand for enhanced drug delivery systems among individuals requiring management of their respiratory conditions. Apart from this, DDIs offer a modern solution by ensuring accurate dosage and providing feedback on usage to both patients and healthcare providers, which is offering a positive market outlook. In line with this, the data collected can be instrumental in personalizing treatment plans, improving adherence to medication regimes, and potentially reducing hospitalizations related to CRDs.
Technological advancements for real time adjustments
Various companies are continuously advancing their DDIs to provide enhanced care and satisfaction to patients. They offer features, such as dose counting, adherence monitoring, and data transmission, to healthcare providers. In line with this, these features promote better disease management, allow for real-time adjustments to treatment plans, and ensure that patients are effectively adhering to their medication schedules, which is offering a favorable market outlook. Apart from this, the technology in DDIs can provide immediate feedback to patients on their inhalation technique, which is crucial for the effectiveness of the treatment. As a result, these advancements are enhancing the quality of respiratory care for patients suffering from severe respiratory disorders.
Growing focus on chronic respiratory disease management
The rising focus on chronic respiratory disease (CRD) management among individuals and healthcare providers is contributing to the growth of the market. In line with this, there is an increase in the demand for more efficient and effective management of CRDs. Apart from this, DDIs can monitor medication adherence and provide actionable feedback, which plays a crucial role in the broader strategy of chronic respiratory disease management. In addition, they enable healthcare providers to have better insights into patient adherence and disease progression, facilitating timely interventions and potentially better outcomes for patients. Furthermore, the rising adoption of DDIs, as they promote better self-management, is propelling the market growth.
Key Market Segmentation
The report provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional and country levels from 2024-2032. The report has categorized the market based on type and product.
Breakup by Type:
- Branded Medication
- Generics Medication
Branded medication accounts for the majority of the market share
Branded medication refers to drugs that are developed and marketed by pharmaceutical companies under a proprietary name. These medications are often the first of their kind to be introduced to the market and are protected by patents, preventing other companies from selling generic versions for a certain period. The development of branded medications involves thorough research and development (R&D) activities to ensure their efficacy, safety, and quality. Pharmaceutical companies are investing significantly in (R&D) to develop new respiratory medications, which are then sold under a brand name, often at a higher price point due to the innovation and research backing them.
Breakup by Product:
- Metered Dose Inhaler
- Dry Powder Inhaler
Metered dose inhaler holds the largest share in the industry
Metered dose inhalers (MDIs) are one of the most common types of inhalers used in respiratory therapy. They are designed to deliver a specific amount of medication to the lungs, with each actuation or press of the inhaler. MDIs consist of a pressurized canister that contains medication in a liquid or aerosol form, housed within a plastic case with a mouthpiece. When the inhaler is actuated, it releases a measured dose of medication in aerosol form for inhalation. MDIs are popular due to their portability, ease of use, and the ability to provide quick relief in acute respiratory situations. They are highly effective for delivering bronchodilators and steroids which are commonly used in the management of conditions like asthma and Chronic Obstructive Pulmonary Disease (COPD).
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America leads the market, accounting for the largest digital dose inhaler market share
North America held the biggest market share due to the increasing adoption of advanced respiratory devices. Additionally, the presence of well-established pharmaceutical and medical device companies is offering a positive market outlook. Apart from this, the rising focus on improving respiratory care solutions is contributing to the growth of the market. In addition, increasing incidences of respiratory disorders among individuals are propelling the growth of the market.
Competitive Landscape
Various companies are investing in research and development (R&D) activities to create DDIs with enhanced features, such as improved dose counting, adherence monitoring, and real-time feedback mechanisms, to cater to the needs of patients and healthcare providers. Apart from this, companies are engaging in collaborations and partnerships to expand their technological capabilities and market reach. In line with this, they are providing more user-friendly and effective solutions for managing respiratory diseases. Besides this, major manufacturers are working on specialized inhaler solutions that are tailored to deliver complex biologics. Furthermore, companies are engaging in marketing and awareness campaigns to educate healthcare providers and patients about the advantages of digital dose inhalers over traditional ones.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided.
Some of the key players in the market include:
- 3M Company
- AstraZeneca plc
- GlaxoSmithKline plc
- Glenmark Pharmaceuticals Limited
- H&T Presspart Manufacturing Ltd.
- Koninklijke Philips N.V.
- Lupin Limited
- Novartis AG
- OPKO Health Inc.
- Propeller Health (ResMed)
- Sensirion AG Switzerland
- Teva Pharmaceutical Industries Ltd.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report)
Recent Developments:
- In July 2023, Lupin launched a pressurized metered dose inhaler for the treatment of asthma and chronic obstructive pulmonary disease (COPD) in Germany.
- In February 2022, AstraZeneca and Honeywell partnered to develop next-generation respiratory inhalers using the propellant HFO-1234ze, which has less Global Warming Potential (GWP) than propellants currently used in respiratory medicines.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $3.3 Billion |
| Forecasted Market Value (USD) by 2032 | $10.1 Billion |
| Compound Annual Growth Rate | 13.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/fabx1j
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