May 22, 2024
Digital Dose Inhaler Market

Digital Dose Inhaler Market is Estimated to Witness High Growth Owing to Increasing Incidence of Respiratory Diseases

The digital dose inhaler market is highly dependent on respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). Digital dose inhalers offer digitally recorded dosing history and customizable alerts to ensure proper medication adherence among patients. They provide timely dose reminders and feedback on inhalation technique which helps manage respiratory conditions more effectively. This growing need for medication adherence and remote monitoring is expected to boost the demand for digital dose inhalers over the forecast period.

The global digital dose inhaler market is estimated to be valued at US$ 64.33 Bn in 2024 and is expected to exhibit a CAGR of 19% over the forecast period 2024 to 2031.

Digital dose inhalers have several advantages over conventional inhalers such as integration of sensors to record usage data, connectivity options to share records with physicians, and customizable reminders for timely dosing. This helps achieve better control over respiratory conditions with remote monitoring capabilities. The technology also allows dose titration under medical supervision to identify the most effective therapy for individual patients.

Key Takeaways

Key players operating in the Digital Dose Inhaler Market Size  are 3M, AstraZeneca, GLENMARK PHARMACEUTICALS LTD., Novartis AG, Sensirion AG, Propeller Health, OPKO Health, Inc., Teva Pharmaceutical Industries Ltd., BEXIMCO Pharmaceuticals, GSK plc., Mundhipharma International, Honeywell International Inc., Veranex, Cognita Labs. These players are focused on developing smart inhalers integrated with connectivity and sensors to provide dosage history and adherence reports to physicians.

The growing availability of various types digital dose inhalers offers immense opportunities in disease monitoring and personalized therapy management. Integration with mobile health apps allows physicians to remotely monitor patients and offer timely guidance for effective control over respiratory symptoms. These advantages are driving stronger adherence to therapies.

The increasing focus on remote patient monitoring solutions is further expanding the global reach of digital dose inhalers. Various players are actively working on expanding availability across developed as well as developing markets. Particularly in Asia Pacific region, there is high demand for digital dose inhalers owing to growing respiratory disease burden.

Market drivers

The primary driver boosting the digital dose inhaler market is the increasing incidence of respiratory diseases worldwide. According to WHO, around 65 million people suffer from moderate to severe COPD globally. Asthma also affects over 300 million people worldwide. Digital dose inhalers can help achieve better adherence to therapies and management of respiratory symptoms through remote monitoring. This growing disease prevalence is expected to drive significant demand for smart inhalers in the coming years.

PEST ANALYSIS

Political: Regulations related to drug delivery and healthcare have a big influence on the digital dose inhaler market. Country specific regulations need to be taken into account for business operations.

Economic: Growing healthcare spending globally is driving demand for cost effective treatment options. Providers are focusing on reducing respiratory diseases treatment costs through technology adoption.

Social: Rising air pollution levels and changing lifestyles are leading to increased prevalence of respiratory diseases. Growing health awareness is positively impacting adoption of digital inhalers for convenient medication monitoring.

Technological: Advances in digital technologies and sensors allow integration of dose tracking and connectivity features in inhalers. Connected devices enable remote monitoring by doctors and automated refill reminders improving patient compliance.

The geographical regions accounting for majority value share in the digital dose inhaler market are North America and Europe. Developed healthcare systems and high adoption rates of newer respiratory treatment devices drive the market in these regions.

The Asia Pacific region is poised to register the fastest growth during the forecast period. Rising incidence of asthma and COPD, growing healthcare spending, increasing penetration of health insurance and presence of generic drug manufacturers are factors fueling market growth in Asia Pacific countries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it