PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410145
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410145
The digital dose inhaler market is estimated to grow at a CAGR of 8.64% during the forecast period.
A digital dose inhaler is a compact, portable device containing medicine designed to alleviate breathing issues. By delivering a precise dosage of medication into the lungs it effectively treats respiratory problems such as asthma, chronic obstructive pulmonary disease (COPD), and other breathing difficulties.
Digital dose inhalers are extensively used to treat chronic respiratory diseases due to their ability to deliver precise doses of medication directly into the lungs thereby effectively managing symptoms and improving treatment outcomes. The growing number of viral infections, such as influenza and respiratory syncytial virus (RSV) coupled with pollution problems are increasing the prevalence of respiratory conditions, thereby booming the digital dose inhalers demand. According to the Centers for Disease Control and Prevention, In the United States, the percentage of angina cases among adults aged 18 and over was 1.6% in 2022, compared to 1.5% in 2021. This indicates a slight increase in the prevalence of angina among the adult population between the two years.
Pharmaceutical companies and healthcare technology firms are improving their R&D investment in inhaler technology by incorporating digital features, smart sensors, and advanced connectivity. These developments result in more precise dosing, improved patient adherence, and real-time monitoring capabilities. Furthermore, R&D efforts are fostering the creation of personalized medicine solutions, tailoring treatment plans to individual patient needs, and optimizing disease management. For instance, Roche, the Swiss pharmaceutical giant, significantly increased its research and development (R&D) expenditure to $14.7 billion in 2022, marking a notable rise from the $13.3 billion spent in the previous year. Such strategic investments have propelled the digital dose inhaler market growth.
The cutting-edge innovations in the inhaler market have significantly improved the precision and ease of use for patients by offering enhanced medication delivery and monitoring capabilities. The smart sensors provide real-time data on inhaler usage which enables patients and healthcare providers to track adherence and adjust treatment plans thereby promoting better disease management which has bolstered the digital dose inhaler market demand. For instance, in February 2022, Aptar Pharma, a specialist in drug delivery, services, introduced HeroTracker Sense, a digital respiratory health solution that transforms a standard metered dose inhaler (pMDI) into a smart connected healthcare device, enabling real-time monitoring of medication usage and providing valuable insights to improve respiratory health management
Asia-Pacific will hold a significant market share due to the growing prevalence of asthma attacks thereby creating an environment conducive to digital dose inhaler adoption. For instance, according to the Australian Bureau of Statistics, from 2020 to 2021, approximately 10.7% of the total population, or 2.7 million individuals, were reported to have asthma. Also, supportive government initiatives to boost medical device production are additionally driving market growth. For instance, the National Medical Devices Policy, approved by the Indian government in April 2023, aims to foster a well-structured expansion of the medical device sector in India and to establish the country as a global leader in medical device manufacturing.
The integration of data collection and transmission features in digital dose inhalers has brought forth significant concerns related to privacy and security, both from the perspective of patients and healthcare organizations. These anxieties revolve around the potential vulnerability of sensitive health data, and as a result, it may influence the level of willingness and acceptance in adopting these advanced inhaler technologies. Patients may be hesitant to use such devices without reassurance about safeguarding their personal health information, while healthcare providers and organizations may demand robust data protection measures before fully embracing these innovative inhaler solutions.