The global digital dose inhaler market size will grow by USD 989.44 million during 2019-2023. This market report provides a detailed analysis of the market by product (metered dose and soft mist inhalers and dry powder inhalers) and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market's competitive landscape and offers information on several market vendors, including AstraZeneca Plc, GlaxoSmithKline Plc, Novartis AG, OPKO Health Inc., and Teva Pharmaceutical Industries Ltd.
Key Insights on Digital Dose Inhalers Market - Global Forecast 2019-2023
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Industry Overview
The rising integration of AI and the adoption of IoT has been identified as one of the critical digital dose inhalers market trends. The healthcare sector is increasingly adopting AI technology to enhance operational and clinical efficiency. AI technology uses algorithms and software to analyze complex medical data and minimizes the need for direct human input. This will help in reducing the chances of human error, minimize treatment costs, and improve healthcare outcomes. The adoption of AI technology will also aid pharmaceutical companies to analyze the efficacy of drugs, patient's need, and adherence data. This will result in the increasing demand for inhalation devices, including digital dose inhalers. The demand for IoT based digital dose inhalers is also increasing as it allows customers to monitor their condition, understand dosage measurement, and prevent subsequent respiratory attacks. The rising integration of AI and the adoption of IoT will enhance the treatment of asthma and COPD, consequently fueling the demand for digital dose inhalers.
The digital dose inhaler market forecast highlights technological advancements as another factor that will contribute to the market's growth. Several pharmaceutical companies are focusing on the development of digital health technologies that improve the effectiveness and accuracy of respiratory disease management. Market vendors are increasingly integrating Bluetooth technology and digitalizing inhaler devices to minimize common errors by measuring patient inhalation, increase the drug delivery efficacy, reduce health care costs, improve medication adherence, and enhance patient outcome. Next-generation digital dose inhalers also include monitoring devices that track and record the time of dosage intake via patient's smartphones. Moreover, pharmaceutical companies are developing smart mist inhalers that optimize and improve drug delivery in patients with COPD. Such technological advancements are expected to boost the growth of the digital dose inhalers market at a CAGR of almost 13% during the forecast period.
Top Companies in Digital Dose Inhalers Market
The global market is fragmented. To help clients improve their market position, this report provides an analysis of the market's competitive landscape and offers information on the products offered by various companies. Moreover, this digital dose inhalers market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
The report offers a detailed analysis of leading digital dose inhaler manufacturers, including:
- AstraZeneca Plc
- GlaxoSmithKline Plc
- Novartis AG
- OPKO Health Inc.
- Teva Pharmaceutical Industries Ltd.
Market Segmentation
Digital Dose Inhalers Market by Product
- Metered dose and soft mist inhalers
- Dry powder inhalers
The metered dose and soft mist inhalers segment will account for the highest digital dose inhaler market share. Metered dose inhalers are highly cost-effective, easy-to-use, and can deliver accurate dose during inhalation. The growing demand for improvement in drug delivery will also boost the demand of soft mist inhalers. This market research report provides an accurate prediction of the contribution of all the segments to the growth of the digital dose inhalers market size.
Digital Dose Inhalers Market by Region
- Asia
- Europe
- North America
- ROW
With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the digital dose inhaler market throughout the forecast period. Factors such as the increasing prevalence of asthma and COPD, growing need to reduce healthcare costs, and rising demand for technologically advanced solutions are contributing to the digital dose inhaler market growth in this region.
Major Highlights of the Digital Dose Inhalers Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the digital dose inhalers market during the next five years
- Precise estimation of the global digital dose inhaler market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the digital dose inhalers industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market's competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of digital dose inhalers companies
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