Digital platform architecture drives data-sharing efficiencies and better outcomes as the data is transmitted from devices onto cloud-based servers. Thereafter, healthcare professionals can remotely monitor and manage patient’s adherence, thus improving patient outcome. In addition, patients can monitor their adherence using smartphone app. The data-driven advantage associated with the digital respiratory device is that it provides a means of collecting respiratory medication data. This data can be used by pharmaceutical companies to boost product differentiation and brand loyalty in the face of generic competition. In addition, the data collected by these digital respiratory devices helps payors/providers reduce healthcare costs and accelerate healthcare strategy.
The global digital respiratory devices market has been foreseen to have a lucrative growth rate of 27.31% during the forecast period 2021-2030. Some of the major factors propelling the growth of the global digital respiratory devices market include substantial investments made in the field of personalized medicine, increased awareness among individuals regarding the benefits of connected inhalers, especially boosted during the COVID-19 pandemic phase, and growing adoption of sensor technologies and apps to monitor and manage inhalation of medications.
Scope of the Global Digital Respiratory Devices Market
The purpose of the study is to enable the reader to gain a holistic view of the Global Digital Respiratory Devices Market by each of the aforementioned segments.
The report constitutes an in-depth analysis of the global digital respiratory devices market, including a thorough analysis of the different end-users. The study also provides exhaustive information on competitive landscape, brand share landscape, market share of the leading players, as well as other vital information with respect to the global digital respiratory devices market. The report considers sensors and apps, and smart inhalers and nebulizers.
Key USPs of the Report
Following are some of the key contents of the report:
• Porter's five forces analysis
This section includes exhaustive information on the competitive intensity of the market which helps any firm to understand the market, the competitors entering or leaving the market, and the firm’s competitive strategy to operate in the market.
• Business Model Analysis
This section comprises information on the key business models deployed in the market by leading players.
• Impact of COVID-19
This section of the report encompasses the following:
o Impact on digital respiratory devices Demand and Supply
o Future Impact (Short-, mid-, and long-term)
o Entry Barrier and Opportunities for New Entrants
In addition, the report provides:
• A detailed analysis and growth forecast (2021-2030) for different indications
• Recent developments and trends in the global market landscape
• Factors promoting and inhibiting the market growth
Expert Quote
“Lack of consumer awareness is a key barrier to market entry for new players. Digital awareness among consumers is in the process of growth. However, more awareness needs to be created for the same. The lack of an established consumer base can hamper a start-up’s ability to enter the market due to low confidence on business viability and returns.”
Digital Respiratory Devices Market Dynamics
Key Companies in the Global Digital Respiratory Devices Market
Some of the key players contributing to the Global Digital Respiratory Devices Market include 3M Health Care Limited, Adherium Limited, Amiko Digital Health Limited, AstraZeneca, Boehringer Ingelheim International GmbH, Capsule Technologies, Cognita Labs, Cohero Health, Findair Sp. z. o. o, GlaxoSmithKline plc, Novartis AG, Pneuma Respiratory, Propeller Health, Sensiron AG, and Teva Pharmaceuticals Industries Ltd.
Key Questions Answered in this Report:
• How pharmaceutical companies are capitalizing on the opportunity for connected inhalers to improve drug sales?
• What has been the impact of the COVID-19 pandemic on global digital respiratory devices market?
• What are the potential recovery scenarios of the market from the COVID-19 pandemic, and how can it impact the market forecast?
• How will the pharma industry evolve in terms of drug-based devices in the future?
• What are the potential business models in global digital respiratory devices market?
• What are the major market drivers, challenges, and opportunities in the global digital respiratory devices market?
• What are the underlying structures resulting in the emerging trends within the digital respiratory devices industry?
• What was the market value of the leading segments and sub-segments of the global digital respiratory devices market in 2021?
• How is each segment of the global digital respiratory devices market expected to grow during the forecast period and what is the revenue anticipated to be generated by each of the segments by the end of 2030?
• What are the influencing factors that may affect the market share of the key players?
• What is the market share of each of the companies in the global digital respiratory devices market and what are their contributions?
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