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Smart Inhalers Market Report 2021 Size, Share, Global Industry Analysis, Top Company Leaders, Development Trends, Regional Forecast to 2025

iCrowdNewswire   Jan 8, 2021  4:23 PM ET

Smart Inhalers Market Overview

The Global Smart Inhalers Market has the potential to grow rapidly and is expected to expand at a dynamic CAGR of 42.8% over the forecast period of 2016-2022, asserts Market Research Future (MRFR) in an in-depth study. Technological advancements in inhalers have resulted in the development of advanced smart inhalers which are incorporated with sensors to take remote patient monitoring to the next level. Smart inhalers are inhalers equipped with digital sensors and other technologies to improve disease management in case of respiratory disorders. 

Smart inhalers are able to track patient data, monitor the use of inhaler, and schedule dosage through which they help to alleviate the problems of poor medication adherence in cases of COPD and asthma. The growing burden of respiratory diseases remains the prime drive behind the growth of the global smart inhalers market. In addition, improving adherence in respiratory diseases remains a significant unmet need which boosts the growth of the global smart inhalers market. 

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Increasing penetration of smartphones, tablets, and warbles is a key factor in motivating the growth of the global smart inhalers market. The global population is increasingly becoming tech savvy and is coming forward in the adoption of the latest healthcare technologies which has induced greater demand within the smart inhalers market. 

Growing interest in home healthcare setting has accelerated the growth of the global smart inhalers market. Smart inhalers can eliminate the need for hospital admission for disease management and can also be linked to telehealth solutions which facilitate remote patient monitoring. 

In contrast, the growth of the global smart inhalers market might be faced with some bottlenecks in its growth trajectory. Lack of adequate evidence demonstrating the efficacy of smart inhalers and interoperability issues remain major hurdles. Lack of proper reimbursement scenario for smart inhalers is also a significant impediment. Other factors restraining market growth include high cost and security and privacy concerns associated with smart inhalers. Limited availability of smart inhalers in potential emerging markets and stringent policies governing medical devices are other potential constraints. 

Smart Inhalers Market Segmentation

The Global Smart Inhaler Market has been segmented based on type, application, and end user. 

By type, the global smart inhaler market has been segmented into dry powder inhaler and metered dose inhaler. 

By application, the global smart inhaler market has been segmented into Asthma, COPD, and others. 

By end user, the global smart inhaler market has been segmented into hospitals & clinics, respiratory care center, and others. 

Smart Inhalers Market Regional Analysis

By region, the Global Smart Inhalers Market has been segmented into North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). 

North America is the largest market for smart inhalers and is estimated to reach USD 888.4 Mn by the end of 2023. The existence of market players in the region coupled with a high investment in R&D activities boosts the market growth. In addition, the region is a frontrunner in the adoption of the latest technologies which acts as a plus for the market growth. Other factors driving growth include improving reimbursement scenario and a high prevalence of respiratory diseases in the region. 

Europe ranks the second in the global smart inhalers market and was valued at USD 57.4 Mn in 2016. Government support for R&D and the growing burden of chronic respiratory diseases is fostering market growth in Europe. 

APAC is poised to showcase the highest growth rate and capture a remarkable CAGR of 55.3% over the forecast period. Expansion of the healthcare sector in the emerging economies of the region and huge patient pool favor market growth. 

Smart Inhalers Market Competitive Landscape

Adherium Limited (New Zealand), Cohero Health (USA), GlaxoSmithKline (U.K.), Gecko Health Innovations Inc (USA), Inspiro Medical Ltd., AstraZeneca (England), and Propeller Health (USA) are the key players in the global smart inhalers market. 

Smart Inhalers Industry Updates

In February 2019, Propeller Health, a leading mobile platform for respiratory health announced a partnership with Orion Corporation, a pharmaceutical and diagnostics company to co-develop a custom-built Propeller sensor for Orion’s Easyhaler line of inhaled pulmonary drugs. The new sensor will enable tracking of medication use and improve medication adherence.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Contact Information:

Akash Anand
Market Research Future
+1 646 845 9312

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