Smart Inhalers Market 2021 SWOT Study, Sales Analysis, Technological Innovations and Competitive Landscape to 2028

smart inhaler market

The Global Smart Inhalers Market is expected to reach the Market Valuation of USD 1751.7 Million by 2028 growing at a reasonable CAGR of 20.5%

NOIDA, UTTAR PRADESH, INDIA, March 15, 2022 /EINPresswire.com/ — Global smart inhaler market is expected to reach the market valuation of USD 1751.7 Million by 2028 growing at a reasonable CAGR of 20.5% during the forecast period (2021-2028) from USD 390.1 Million in 2020. is an advanced form of inhalers that can be connected to apps on a phone or tablet via Bluetooth, helping doctors to more effectively manage a patient’s respiratory status.

The various factors driving the growth of the smart inhalers market include rising incidence of lung diseases, advancements in technology, and increased awareness among end users through the adoption of digital inhalers to monitor these diseases . In addition, almost half of the country’s population suffers from chronic diseases, including lung cancer, COPD or asthma, which aggravates the situation. As a result, more and more people are turning to preventative healthcare, increasing the adoption rates of smart inhalers around the world. For example, 1.8 million deaths were recorded due to lung cancer worldwide in 2020, which is the highest number of cancer deaths.

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Also, increasing health issues among the geriatric population coupled with soaring costs of healthcare procedures are the major reason for the switch to smart inhalers. For example, according to the Peterson-KFF Health System Tracking System, the overall cost of inpatient hospitalization has risen sharply by 85% over the decade. In addition to this, medical costs for surgical and medical care almost doubled from 2008 to 2018. Considering these facts, the demand for more accessible, personalized and cost-effective healthcare solutions propelling the growth of smart inhaler market all over the world. world.

However, major restraints affecting the smart inhaler market include data security issues and high cost of smart inhalers. In addition to this, a lack of awareness about the symptoms of COPD and asthma is hampering the growth of this market all over the world.

The COVID-19 pandemic has disrupted the whole world and many industries. This global disruption has affected the healthcare sector like never before and has had a huge impact on the way healthcare is delivered around the world. With lockdown restrictions around the world, there is a growing demand for digital health technologies that enable patients to get help to maintain their physical and mental health. In addition to this, delayed and canceled treatment of chronic respiratory diseases has further increased the global demand for smart inhalers.

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The smart inhaler market is booming with numerous startups and new product innovations contributing to its global popularity. For example, in November 2019, Lupin, a pharmaceutical major launched “ADHERO”, a new connected smart device for metered-dose inhalers. This one-of-a-kind device is designed to help patients with chronic respiratory diseases track their use of metered-dose inhalers and facilitate better adherence to treatment.

On the basis of product, the market has been segmented into inhalers and nebulizers. The inhaler segment held the major share of the market and is expected to maintain its dominance over the projected period. Further, inhalers are sub-segmented into metered dose inhalers and dry powder inhalers. The largest market share has been gained by the inhaler segment and is expected to grow at –% CAGR over the forecast period (2021-2028) owing to the rising incidence of respiratory diseases (such as asthma and COPD) around the world, which requires regular follow-up of the patient. Thus, reducing the risk of patient mortality and emergency hospital visits.

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Based on indications, the global smart inhalers market is segmented into Chronic Obstructive Pulmonary Disorders (COPD) and Asthma. Asthma occupied the largest share and is expected to maintain its dominance throughout the forecast period 2021-2028 as asthma is one of the leading causes of death globally. The segment generated revenues of US $ — million in 2020. However, the COPD segment is also expected to grow exponentially due to high COPD mortality rates worldwide. Chronic Obstructive Pulmonary Disease (COPD) is a general term that describes progressive respiratory diseases such as emphysema and chronic bronchitis. Asthma is generally considered a separate respiratory disease, but is sometimes confused with COPD. For example, according to the National Institutes of Health Trusted Source (NIH), approximately 24 million people in America alone suffer from COPD. Among the prevalence of COPD and asthma, COPD is expected to be the third leading cause of death globally by 2030. COPD is a life-threatening disease that accounts for approximately 5% of annual deaths worldwide. Hence, the increasing prevalence of COPD and asthma will ensure the growth of the smart inhalers market over the forecast period.

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In addition, the report provides detailed report also provides information on Global Smart Inhalers Market according to regions such as North America (United States, Canada and Rest of North America), Europe (Germany, France, Italy, Spain, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), Rest of the World was conducted . North America led the market and generated revenue of – Billion USD in 2020 due to rising number of incidences of chronic respiratory diseases and growing geriatric population in the region. For example, according to the US Census Bureau, the US population will increase by 79 million people, from about 326 million in 2018 to 404 million by 2060, and cross the 400 million threshold in 2058. As a result, there will have much more demand than supply in the health sector, which ultimately increases the cost of health care. At the same time, the Asia-Pacific regions are identified as potential markets offering significant growth opportunities for several startups and other major players in the field of smart inhalers.

Boehringer Ingelheim, Cohero Health, Inc., Novartis, AstraZeneca, Omron Corporation, Teva Pharmaceuticals Industries Ltd., Vectura Group, GlaxoSmithKline, Adherium Limited, 3M are some of the key players operating in the global smart inhaler market. Several mergers and acquisitions and partnerships have been undertaken by these players to develop the smart inhaler.

Segmentation of the global smart inhaler market

Market overview, by product

Inhalers
Dry Powder Inhaler (DPI)
Metered Dose Inhaler (MDI)
Nebulizers
Market overview, by indication

Chronic Obstructive Pulmonary Disease (COPD)
Asthma
Market overview, by distribution channel

Hospital pharmacies
Retail pharmacies
online channel
Market Snapshot, By End User

Hospital pharmacies
Retail pharmacies
online channel
Market Overview, By Region

North America
United States
Canada
Rest of North America
Europe
France
Germany
Italy
Spain
UK
The rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the world
Main company profiles

Boehringer Ingelheim
Cohero Health, Inc.
Novartis
Astra Zeneca
Omron Company
Teva Pharmaceuticals Industries Ltd.
Vectura Group
GlaxoSmithKline
Adherium Limited
3M

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