January 07, 2020
As per the latest research report titled ‘Smart Inhalers Market Size By Product (Dry Powder Inhaler (DPI)- based smart inhalers, Metered Dose Inhaler (MDI)- based smart inhalers), By Disease indication (Chronic Obstructive Pulmonary Disease (COPD), Asthma), By Distribution channel (Hospital Pharmacies, Retail Pharmacies, e-commerce), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, Brazil, Mexico, South Africa, Turkey, Saudi Arabia), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global smart inhalers market is presumed to amass US $260 million by the year 2025.
Rising occurrence of chronic disorders such as asthma and COPD (chronic obstructive pulmonary disease) across the globe is fueling the demand for smart respiratory devices. Smart inhalers having sensors and other advanced features are capable of treating respiratory ailments with efficacy as compared to their conventional counterparts. This factor coupled with rising disposable income are propelling the growth of smart inhalers market.
Moreover, numerous technological advancements carried out by several digital health and pharmaceutical companies, along with the launch of new products in the market will augment the industry outlook. However, lack of awareness regarding the product in developing regions, in consort with concerns regarding security and privacy issues are predicted to restrain the expansion of smart inhalers market.
Speaking of the product type, metered dose inhalers (MDI) based smart inhalers market segment held over 34% revenue share in 2018 and is anticipated to follow the same trend in the upcoming years. Rising focus of pharma manufacturers to collaborate with digital & software companies to develop and launch innovative MDI devices will further contribute towards the segmental growth.
In terms of disease indication, asthma segment is projected to register a growth rate of 11.8% during 2019-2025, owing to surging prevalence of the disease especially among children. As per the estimation by AAAAI (American Academy of Allergy, Asthma & Immunology) in 2016, approximately 8.3% children in the United States suffered from Asthma.
Based on distribution channel, smart inhalers market from hospital pharmacies segment will grow by 10.9% over the forecast period, cites the report. The segmental growth can be attributed to increasing cases of respiratory disorders, in tandem with easy accessibility of hospital pharmacies for hospital patients seeking smart inhalers for treatment.
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Considering the regional landscape, the report cites that Europe smart inhalers market held 29% revenue share in 2018 and will register significant growth through the year 2025, on account of rising prevalence of COPD and asthma. Availability of smart inhalers which can track and monitor medication usage will aid the regional market share growth.
The prominent players operating in smart inhalers market include Zeolr Technologies Pvt. Ltd., Vectura Group, Findair SP Z O O, H&T Presspart Manufacturing Ltd., Teva Pharmaceuticals, Boehringer Ingelheim, Novartis, Aptar Pharma, GlaxoSmithKline, and AstraZeneca plc. among others.
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