Digital Respiratory Devices Market - Introduction
Digital respiratory devices compromises therapeutic and diagnostic devices which are connected to smartphone applications or other data collection modules. These devices are used in the treatment and monitoring of asthma, chronic obstructive pulmonary diseases (COPD), and other respiratory diseases. Digital respiratory devices help to deliver correct dose of the drug and also monitor patient health and treatment outcomes efficiently. These technologically advanced devices enable patient and physician to monitor, record, and track the dose recording during the treatment. Better disease management can be achieved with the help of smart respiratory devices.
Digital Respiratory Devices Market - Competitive Landscape
The global digital respiratory devices market is highly fragmented due to the presence of large number of players. A large number of manufacturers hold prominent market shares in their respective regions. Leading players in the global digital respiratory devices market are Teva Pharmaceutical Industries Ltd., Propeller Health, 3M, AstraZeneca, Glenmark, Adherium Ltd., Pneuma Respiratory, Findair Sp. z o. o, Cohero Health, Inc., and Amiko Digital Health Limited. In December 2018, ResMed acquired Propeller Health. This acquisition enabled the company to strengthen its position in digital health for COPD. In February 2019, Orion entered into partnership agreement with Propeller Health to bring new smart medicines to patients with COPD and asthma. This enabled Propeller Health to expand presence in Europe. These strategies by key players contribute to the growth of the global respiratory devices market. Demand for digital respiratory devices has increased in developed as well as developing markets. Industry players are adopting the practice of appointing third-party distributors to expand market presence. For instance, in August 2018, Pneuma Respiratory, Inc. announced that Haisco Pharmaceutical had agreed to make equity investment in the company. This agreement enabled Haisco Pharmaceutical to distribute Pneuma Respiratory, Inc.’s products in China.
Need an Overview of the Report on Digital Respiratory Devices Market? Ask for the Brochure here
Teva Pharmaceutical Industries Ltd.
Founded in 1901 and headquartered in Petach Tikva, Israel, Teva Pharmaceutical Industries Ltd. is one of the leading players in the market. The generics business is the key strength of the company. It also operates in the specialty medicine and OTC business segments. Teva Pharmaceutical Industries operates globally, with a significant presence in the U.S., Europe, and other parts of the world. It has presence in 60 countries.
Incorporated in 1999 and headquartered in Cambridge, the U.K., AstraZeneca is one of the leading biopharmaceutical companies engaged in the design, development, and commercialization of products for therapeutic areas such as respiratory, renal & metabolism, cardiovascular, and oncology. The company has presence in more than 100 countries and its innovative medicines are used by millions of patients across the globe.
Established in 1977 and headquartered in Mumbai, India, Glenmark is one of the leading pharmaceutical organizations. The company have mainly focused on developing new chemical entity and new biological entity. It offers products in therapeutic areas including dermatology, respiratory, and oncology. Glenmark has 16 manufacturing facilities and six research and development centers in five countries.
Stuck in a Neck-to-Neck Competition with other Brands? Request a Custom Report on “Digital Respiratory Devices Market” here
Digital Respiratory Devices Market - Dynamics
Rise in Prevalence of Respiratory Diseases
According to the World Health Organization, in 2016, an estimated 251 million cases of chronic obstructive pulmonary diseases were recorded across the world. Moreover, globally, around 339 million people were affected by asthma in 2018. Furthermore, COPD accounts for more than 3 million deaths across the world each year. Rise in prevalence of asthma, COPD, and other respiratory diseases is likely propel the global market.
New Product Launch and Approval
In December 2018, Teva Pharmaceutical Industries Ltd. received clearance from the Food and Drug Administration for its digital inhaler. In April 2018, Adherium Ltd. received OTC clearance for AstraZeneca’s Symbicort inhaler. In May 2016, Glenmark launched first digital inhaler for COPSD and asthma. Product launch and approval by key players is anticipated to boost the growth of the global digital respiratory devices market.
Digital Respiratory Devices Market - Segmentation
The global digital respiratory devices market can be segmented based on product, application, distribution channel, and region.
Based on product, the global digital respiratory devices market can be divided into:
- Therapeutic Devices
- Smart Inhalers
- Adaptors for Conventional Inhalers
- Diagnostic Devices
- Asthma Monitors
In terms of application, the global digital respiratory devices market can be classified into:
Based on distribution channel, the global digital respiratory devices market can be categorized into:
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.