Digital Respiratory Devices Market: Product launch and approval by key players is anticipated to boost the industry growth
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.
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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.
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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.
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.
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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.
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