Global Smart Inhalers Market is Estimated to Value Over USD 1.5 Billion by 2026 End

  • 16 Sep 2019

Global Smart Inhalers Market is estimated to value over USD 1.5 billion by 2026 end and register a CAGR of over 58% during the forecast period 2019 to 2026

Smart inhalers or connected inhalers and sensors are prominently used as clip-on sensors, which are fastened on top of a regular nebulizer for the treatment of asthma and chronic obstructive pulmonary disorder (COPD). Smart inhalers help patients keep reliever dosage tracking or preventers that are providers at different intervals during the day. These smart devices can raise alerts and reminders for users based on the previous pattern of dosage administration or based on inputs provided by users.

 

The smart inhalers market growth can be credited to a growing incidence of respiratory diseases such as asthma and COPD, increasing air pollution and burden on healthcare services due to higher cases of asthma and COPD. Additionally, increasing adoption of smart inhalers for proper management of asthma and COPD are further stimulating the smart inhalers market growth.

 

Pharmaceutical companies are adopting digital technology for improving management of the disease for improving the efficacy of prescribed medicines and for COPD and asthma. Extensive benefits ranging from reducing hospital admissions to improving the medicine efficacy thus stimulating smart inhalers market growth.

 

Nonetheless, misinterpretation of information and high COPD and asthma treatment costs owing to their chronic nature, limited availability of smart inhalers, and are expected to challenge the smart inhalers market growth.

North America has the largest smart inhalers market share, whereas the Asia Pacific is projected to rise at a phenomenal growth rate over the upcoming years. The Asia Pacific has immense untapped and profitable opportunities in the smart inhalers market as it has an increasing population base coupled with increasing awareness about the use of digital devices and increasing disposable incomes for proper management of diseases.

 

Key market players include Adherium Ltd., AstraZeneca PLC, Boehringer Ingelheim Group, Cohero Health Inc., GlaxoSmithKline plc, Novartis International AG, OPKO Health Inc. ResMed Inc. (Propeller Health), Teva Pharmaceutical Industries Ltd., Vectura Group plc.

 

Recent developments include collaboration between Qualcomm and Novartis, acquisition of Gecko Health by Teva Pharmaceuticals for manufacturing smart inhalers and acquisition of Inspiro Medical by Opko Health. These developments aim to manufacture devices with inbuilt smart inhalers as well as regular smart inhalers, which will positively increase the smart inhaler market revenue in the coming years and competition among the manufacturers will increase. Therefore, smart inhalers is a very lucrative market and it is projected to provide many opportunities for both the manufacturers as well as consumers.

 

Global Smart Inhalers Market Segmentation:

By Product

  • Inhalers
  • Nebulizers

 

By Indication

  • Asthma
  • COPD

 

By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

 

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa   

 

FutureWise Key Takeaways:

● Growth Prospects

● SWOT Analysis

● Key Trends

● Key data-points affecting market growth

 

Objectives of the Study:

• To provide with an exhaustive analysis on the global smart inhalers market by product, by indication, by distribution channel and by region 

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

• Evaluate and forecast micro-markets and the overall market 

• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and Middle East & Africa

• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

 

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