The digital dose inhaler market is anticipated to grow with a CAGR of above 13.3% during the forecast period. The major factors attributing to the growth of the digital dose inhaler market include the rising prevalence of chronic respiratory diseases and the growing demand for technology-enabled features of the respiratory devices.
Soaring geriatric populations suffering from respiratory disorders and favorable reimbursement policies also play a significant role in the growth of the market. According to the report of the Global Asthma Network 2018, around 339 million people are affected by Asthma, and the prevalence is rising. The rising prevalence of respiratory diseases globally is pushing the market growth. However, the high cost of the inhalers is the constraint to the growth of the market.
Key Market Trends
Dry Powder Inhalers (DPI) are Expected to Hold a Major Share in the Growth of the Market
Dry powder inhalers are devices that deliver medication to the lungs in the form of a dry powder. The major factors attributing to the growth of the dry powder inhaler segment are the prevalence of chronic respiratory diseases like COPD, Asthma, etc. and growing demand for technology-enabled features of the respiratory devices. Problems related to the occurrences of drug irritation caused by the existence of propellant components, such as chlorofluorocarbons (CFCs) in MDI, have boosted the usage of the DPIs, with lesser irritant impacts while providing therapeutic efficacy as MDIs.Hence the DPIs are called the green inhalers.
Though the MDIs hold a significant market share, the adoption of the manufacturing of DPIs by the health care providers increases production in the coming years.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall digital dose inhaler market throughout the forecast period. The growth is credited to the meticulous research and development programs, increasing awareness regarding the presently available, hi-tech respiratory devices. Also, an increase in the prevalence of respiratory conditions among both the pediatric and the elderly population will further benefit market growth.
According to the Asthma and Allergy Foundation of America (AAFA), every day, 10 Americans die from asthma, and 3,564 people died from asthma in 2017. With the increasing prevalence of chronic respiratory diseases, the digital dose inhaler market in the region grows proportionally.
Competitive Landscape
The digital dose inhaler market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market include Glenmark Pharmaceuticals Ltd., AstraZeneca Plc, Novartis International AG, Propeller Health, Philips Respironics, Opko Health, Inc., and Teva Pharmaceutical Industries Ltd.
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Soaring geriatric populations suffering from respiratory disorders and favorable reimbursement policies also play a significant role in the growth of the market. According to the report of the Global Asthma Network 2018, around 339 million people are affected by Asthma, and the prevalence is rising. The rising prevalence of respiratory diseases globally is pushing the market growth. However, the high cost of the inhalers is the constraint to the growth of the market.
Key Market Trends
Dry Powder Inhalers (DPI) are Expected to Hold a Major Share in the Growth of the Market
Dry powder inhalers are devices that deliver medication to the lungs in the form of a dry powder. The major factors attributing to the growth of the dry powder inhaler segment are the prevalence of chronic respiratory diseases like COPD, Asthma, etc. and growing demand for technology-enabled features of the respiratory devices. Problems related to the occurrences of drug irritation caused by the existence of propellant components, such as chlorofluorocarbons (CFCs) in MDI, have boosted the usage of the DPIs, with lesser irritant impacts while providing therapeutic efficacy as MDIs.Hence the DPIs are called the green inhalers.
Though the MDIs hold a significant market share, the adoption of the manufacturing of DPIs by the health care providers increases production in the coming years.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall digital dose inhaler market throughout the forecast period. The growth is credited to the meticulous research and development programs, increasing awareness regarding the presently available, hi-tech respiratory devices. Also, an increase in the prevalence of respiratory conditions among both the pediatric and the elderly population will further benefit market growth.
According to the Asthma and Allergy Foundation of America (AAFA), every day, 10 Americans die from asthma, and 3,564 people died from asthma in 2017. With the increasing prevalence of chronic respiratory diseases, the digital dose inhaler market in the region grows proportionally.
Competitive Landscape
The digital dose inhaler market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market include Glenmark Pharmaceuticals Ltd., AstraZeneca Plc, Novartis International AG, Propeller Health, Philips Respironics, Opko Health, Inc., and Teva Pharmaceutical Industries Ltd.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Glenmark Pharmaceuticals
- Novartis International AG
- AstraZeneca Plc
- Propeller Health
- Koninklijke Philips N.V.
- Opko Health, Inc.
- Teva Pharmaceutical Industries Ltd.
Methodology
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