Smart Inhalers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Smart Inhalers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Smart Inhalers Market

The smart inhalers market size was valued at USD 28.6 million in 2019, and the market is now projected to grow USD 1752.1 million in 2027 exhibiting a CAGR of 37.0% during the forecast period of 2021-2028.

The COVID-19 pandemic has greatly increased the demand for smart inhalers because people required remote monitoring and management of their respiratory diseases. As healthcare centers continue being stretched with caseloads, smart inhalers became a way of monitoring the usage of drugs and compliance among patients. Due to COVID 19, there was increased cases of respiratory ailments and this made the demand increase. Consequently, penetration into the overall connected inhalers market increased, derived from awareness of the capabilities of digital health technologies.

The growth rate of diseases like chronic obstructive pulmonary disease and asthma contributing to Acute respiratory diseases spurs the market for smart inhalation devices. For example, based on the Global Burden of Disease, there is calculated an increase by 14.7 % share of COPD for the period of 1990-2015. In addition to this, there is the market move from the traditional drug delivery devices to smart inhalers due to extra features like tracking and adherence. This trend has greatly opened the opportunities of market expansion to the levels mentioned above.

Application of digital technology in medical devices and improvement of delivery systems for drugs will create market for digital inhalers. That is why the desire for such services has increased even if one considers that the prevalence of such pathologies as asthma and chronic obstructive pulmonary disease continues to increase. For instance, the CDC has used current admission data to estimate that 26.5 million Americans were admitted with asthma in 2016. It will also be expected that this will have some positive impact on the market demand of digital inhalers during the forecast period.

Comprehensive Analysis of Smart Inhalers Market

The smart inhalers market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by product analysis, by disease indication analysis and by distribution channel analysis. By product analysis incudes MDI-based Inhalers and DPI-based inhalers. By disease indication analysis incudes asthma and chronic obstructive pulmonary disease (COPD). By distribution channel analysis incudes hospital pharmacies, retail pharmacies, online channel.

The North America region lead the smart inhalers market share by benefitting a market size of USD 20.04 million in 2019 due to increasing digitalization in the healthcare sector.

Top players in the market have their responsibility of healthcare industrial prospectus growth of the retailing industry and the markets. These players include, Adherium, Propeller Health, Cohero Health Inc., GlaxoSmithKline, AstraZeneca plc, Novartis AG, 3M Company, Teva Pharmaceuticals, Vectura Group these market players provide a level-playing competitive landscape.

In August 2020, Propeller Health partnered with Novartis to connect its digital health platform to Enerzair and Atectura Breezhaler medications, aiming to help asthma patients in Japan manage their condition using the Propeller app.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period2016-2018

Unit Value (USD million)

SegmentationBy Product

Dry Powder Inhaler (DPI)- based Inhalers

Metered Dose Inhaler (MDI)- based Inhalers

By Disease indication

Asthma

Chronic Obstructive Pulmonary Disease (COPD)

By Distribution Channel

Hospital Pharmacies

Retail Pharmacies

Online Channel

By Geography

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, and Rest of Asia- Pacific)

Rest of the world (Row)


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