Smart Inhalers -Market Insights, Competitive Landscape and Market Forecast–2027

Smart Inhalers -Market Insights, Competitive Landscape and Market Forecast–2027

Smart Inhalers Market By Product Type (Dry Powder Inhaler, Metered-Dose Inhaler), By Device Type (Built In Smart Inhaler, Attach Type Smart Inhaler), By Indication (Asthma, Chronic Obstructive Pulmonary Disorders [COPD], And Others), By Geography is anticipated to grow at a static CAGR forecast till 2027 owing to rising prevalence of chronic respiratory disorders and increasing acceptance towards digital healthcare equipment.

Global Smart Inhalers Market was valued at USD XX billion in 2021, growing at a CAGR of 21.26% during the forecast period from 2022 to 2027 to reach USD XX billion by 2027. The rise in demand for Smart Inhalers is primarily attributed to the growing prevalence of various respiratory disorders such as asthma, COPD, rising burden of air pollution across the globe. Moreover, the adoption of digital technology by key pharmaceutical players to provide better solutions for respiratory disorder management as well as increasing awareness related to connective devices in developing nations is also expected to boost the market for smart inhalers.

Smart Inhalers Market Dynamics:

Smart inhalers are devices designed to connect to the mobile application through Bluetooth for proper management of chronic respiratory disorders and improved patient lifestyle. The surge in the demand for smart inhalers has increased exponentially due to the rising prevalence of respiratory diseases such as asthma, cystic fibrosis, chronic obstructive pulmonary disorders, among others. According to the WHO 2021 report, asthma is a major noncommunicable disease (NCD), affecting both children and adults, and has affected an estimated 262 million people in 2019 and caused 461000 deaths in the same year. Also, the report stated that most asthma-related deaths occur in low- and lower-middle-income countries, where under-diagnosis and under-treatment are a challenge. Moreover, as per the data from the 2017–18 Australian Bureau of Statistics (ABS) National Health Survey (NHS) (ABS 2018), around 2.7 million Australians (one in nine or 11.2% of the total population) have asthma. The rising cases of asthma will directly contribute to the global market for smart inhalers as these inhalers help relax muscles and opens the airway allowing more air move in and out of the lungs for easy and comfortable breathing.

Rising global urbanization has led to a steady increase in respiratory illness owing to increasing pollution, rise in the adoption of sedentary lifestyles such as smoking which also leads to second-hand inhalation, may also contribute to the market growth for smart inhalers. According to WHO 2021 report, approximately 91% of the world population in the year 2016 lived in places where air quality exceeds WHO guideline limits. Rising air pollution is found to increase the risk of respiratory infections. Thus, as per the above mentioned factors, it is anticipated that the market for smart inhalers will increase in the forecast period.

Furthermore, smart inhalers are digitally advanced than normal inhalers and provide many benefits over normal inhalers such as improved therapy outcome, prevent erroneous inhaker use, among others. Thus, in the era of digitalization, smart inhalers sales will increase in the forecast period.

However, certain factors such as the high cost of the smart inhalers and availability of substitute manual inhalers may pose a minor hurdle for the growth of the Smart Inhalers market.

Smart Inhalers Segment Analysis:

Smart Inhalers Market By Product Type (Dry Powder Inhaler (DPI), Metered-Dose Inhaler (MDI), By Device Type (Built In Smart Inhaler, Attach Type Smart Inhaler), By Indication (Asthma, Chronic Obstructive Pulmonary Disorders [COPD], and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Smart Inhalers product segment, the metered-dose inhaler (MDI segment is expected to dominate the market during the forecasted period. This is owing to the various advantages associated with these inhalers such as MDIs are not breath activated, are cost-effective, and provide accuracy in drug dosage to help assist in controlling and monitoring drug amounts to be dispersed as per the requirement.

Additionally, product approvals for technologically advanced MDI-based smart inhalers are further projected to propel the market. For instance, recently in January 2020, Cognita Labs, a respiratory technologies company, received the US Food and Drug Administration (FDA) clearance for CapMedic, the world's first interactive digital inhaler sensor for MDI, which can measure inhaler use with high granularity. Cognita’s CapMedic provides real-time audio-visual interactive guidance on the correct use of inhalers and also measures the correctness of inhaler use, time, and frequency of its use.

Therefore, the aforementioned factors are likely to propel the segmental growth of the Smart Inhalers market.

North America is expected to dominate the overall Smart Inhalers Market:

Among all the countries, North America is anticipated to dominate the overall Smart Inhalers market during the forecast period. This domination is due to the presence of established healthcare facilities, rising government initiatives, and support for raising awareness regarding respiratory disorders and their proper management in the region.

Further, in the United States, the rising smoking, increasing COPD a chronic respiratory disorder is likely to fuel the smart inhalers market in the region. For instance, as per the CDC 2019 report, nearly 14 of every 100 US adults aged 18 years or older (14.0%) smoked cigarettes. This means an estimated 34.1 million adults in the United States currently smoke cigarettes and more than 16 million Americans live with a smoking-related disease. Smoking is a major risk factor associated with the development of COPD disorder among the population. Also, based on the American Lung Association data, in 2018, 16.4 million people, or 6.6% of adults, reported a diagnosis of any type of COPD (chronic bronchitis, emphysema, or COPD). The COPD rates among adults ranged from 4.0% in Hawaii to 15.3% in West Virginia. In addition, according to the Canadian Tobacco and Nicotine Survey (CTNS) 2019 statistics, the prevalence of cigarette smoking in 2019 was 12% (3.7 million) and there was no difference in the prevalence of smoking between men (13% or 1.9 million) and women (11% or 1.7 million).

Moreover, recent product approvals in the region will further augment the market for smart inhalers in the region. For instance in July 2020, Teva Respiratory, LLC., a U.S. affiliate of Teva Pharmaceutical Industries Ltd. launched ProAir® Digihaler® (albuterol sulfate 117 mcg) Inhalation Powder for Patients with Asthma and COPD.

Furthermore, Europe and Asia-Pacific region have the future potential growth for the Global Smart Inhalers. The presence of key players such as GlaxoSmithKline, AstraZeneca, and Teva pharmaceuticals, among others is likely to drive the market. Moreover, an increase in disposable income, rapid urbanization, integration of IOT and digitilization in the healthcare system along with the acceptances of smart devices in the region are the factors that are likely to drive the market for smart inhalers.

Smart Inhalers Market Key Players:

Some of the key market players operating in the Smart Inhalers market include Teva Pharmaceutical, AstraZeneca, GlaxoSmithKline plc., AptarGroup, Inc., Novartis AG, OPKO Health, Inc., BreatheSuite Inc., adherium, Propeller Health, H&T Presspart Manufacturing Ltd., Zeolr Technologies Pvt Ltd , Findair Sp. z o. o., Lupin, Personal Air Quality Systems Pvt Ltd (PAQS), Biocorp, Cognita Labs, and others.

Recent Developmental Activities in the Smart Inhalers Market:

• In August 2020, Propeller Health collaborated with Novartis to connect the Propeller digital health platform to Enerzair® and Atectura® Breezhaler to treat uncontrolled asthma and started the distribution of the product in Japan.
• In June 2020, Aptar Pharma partnered with Lupin Limited to launch India’s first connected device for metered-dose inhalers (MDI) called ADHERO.

Key Takeaways from the Smart Inhalers Market Report Study

• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Smart Inhalers market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Smart Inhalers Market.
• Various opportunities available for the other competitor in the Smart Inhalers Market space.
• What are the top-performing segments in 2021? How these segments will perform in 2027?
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Smart Inhalers market growth in the coming future?

Target Audience who can be benefited from the Smart Inhalers Market Report Study

• Smart Inhalers providers
• Research organizations and consulting companies
• Smart Inhalers-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Smart Inhalers
• Various End-users who want to know more about the Smart Inhalers Market and the latest technological developments in the Smart Inhalers market.

Frequently Asked Questions for the Smart Inhalers Market:

1. What are Smart Inhalers?

Smart inhalers are inhalers with extra digital features. These inhalers contain sensors that attach to existing inhalers or are integrated in the inhalers and record when the medication is taken. They are Bluetooth-enabled, so can be paired wirelessly with a smart device like a phone or tablet or with a computer to allow data to be transferred from the smart inhaler automatically.

2. What is the market for Global Smart Inhalers?

Global Smart Inhalers Market was valued at USD XX billion in 2021, growing at a CAGR of 21.26% during the forecast period from 2022 to 2027 to reach USD XX billion by 2027.

3. What are the drivers for Global Smart Inhalers?

The major factors driving the demand for Smart Inhalers are the growing prevalence of respiratory disorders such as asthma, COPD among the population, rise in collaboration between key pharmaceutical companies and digital health platforms providing companies, increasing level of air pollution, and awareness related to connected devices.

4. What are the key players operating in Global Smart Inhalers?

Some of the key market players operating in the Smart Inhalers market include Teva Pharmaceutical, AstraZeneca, GlaxoSmithKline plc., AptarGroup, Inc., Novartis AG, OPKO Health, Inc., BreatheSuite Inc., adherium, Propeller Health, H&T Presspart Manufacturing Ltd., Zeolr Technologies Pvt Ltd , Findair Sp. z o. o., Lupin, Personal Air Quality Systems Pvt Ltd (PAQS), Biocorp, Cognita Labs, and others.

5. Which region has the highest share in Smart Inhalers Market?

North America is anticipated to dominate the overall Smart Inhalers market during the forecast period 2022-2027. This domination is due to the presence of established healthcare facilities, rising government initiatives, and support for raising awareness regarding respiratory disorders and their proper management in the region.

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