The global smart inhalers market size was US$ 147.7 million in 2021. The global smart inhalers market size is forecast to reach US$ 1,116.5 million by 2030, growing at a compound annual growth rate (CAGR) of 25.2% during the forecast period from 2022 to 2030.
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Smart inhalers deliver various drugs by inhalation. The drugs used in inhalers in order to treat or prevent respiratory conditions, like asthma and chronic obstructive pulmonary disease (COPD), include anticholinergics, glucocorticoids, insulin, and beta-agonists. The sensors attached as a clip-on to these inhalers measure the right dose per intake and the technique used when inhaling the medication, thus making them smart inhalers. Some smart inhalers feature sensors that can detect polluted or pollen-filled environments, send helpful reminders, and tell if a user’s inhaler technique needs to be adjusted. Since they all automatically measure how frequently individuals use their inhalers, individuals do not have to keep their own records.
Factors Influencing Market Growth
A major factor driving the growth of the smart inhalers market is the rise in asthma and COPD prevalence. In addition, air pollution and an increase in indoor air pollutants further increase the chances of developing respiratory disorders.
Improved treatment options, ease of use, and technological developments, combined with an increase in adherence rates among patients, are major factors driving the market for smart inhalers.
Data misuse and breach of data privacy, high cost of asthma & COPD treatment, and low awareness of smart inhalers may slow down the overall market growth.
There are many opportunities for market growth during the forecast period due to the high market potential in untapped emerging economies, the rise in the number of product launches, partnerships, collaborations among government agencies and key players, and the development of pipeline products.
Impact Analysis of COVID-19
COVID-19 outbreak had a positive effect on the smart inhaler market. A vast number of hospitals and clinics worldwide have redesigned their facilities to increase capacity for patients with COVID-19. Because of COVID-19’s rapid rise, non-essential procedures took a possible backlog. The lockdown disrupted transportation and manufacturing of healthcare essentials. The rise in chronic respiratory diseases led to an increase in hospital visits and clinical visits, resulting in an increase in demand for inhalers and nebulizers, propelling the market growth.
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Regional Insights
In 2021, North America held the leading global market share for smart inhalers and is forecast to continue dominating over the forecast period. A number of factors are responsible for the market growth in the region, including better healthcare infrastructure and facilities, a high prevalence of asthma and COPD patients, technologically advanced treatments, the presence of players in the healthcare system, and an increase in healthcare expenditures.
The Asia Pacific is forecast to grow significantly during the forecast period. As a result of its high geriatric population base, the increase in disposable income, and various development activities. Furthermore, India and China will grow at a rapid CAGR in the Asia-Pacific smart inhalers market.
Leading Competitors
The leading prominent companies profiled in the global smart inhalers market are:
Adherium Limited
Aptar Group Incorporated (Cohero Health Inc.)
AstraZeneca, Incorporated
Cognita Labs, LLC
GlaxoSmithKline Plc
Novartis AG
OPKO Health Incorporated
Philip Morris International Incorporated (Vectura Group Plc)
Resmed Inc. (Propeller Health)
Teva Pharmaceutical Industries Limited
Other Prominent Players
Scope of the Report
The global smart inhalers market segmentation focuses on Product, Indication, Distribution Channel, and Region.
Segmentation based on Product
Inhalers
Dry Powdered Inhalers (DPIs)
Metered Dose Inhalers (MDIs)
Nebulizers
Segmentation based on Indication
Asthma
Chronic obstructive pulmonary disease (COPD)
Segmentation based on Distribution Channel
Hospitals Pharmacies
Retail Pharmacies
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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