According to The Insight Partners market research study titled ‘Smart Inhalers Market to 2027 – Global Analysis and Forecasts by Product, Disorder and End User.’ The Global Smart Inhalers Market is expected to reach US$ 8,033.21 Mn in 2027 from US$ 1,094.26 Mn in 2018. The market is estimated to grow with a CAGR of 25.5% from 2019-2027. The report highlights the trends prevalent in the global smart inhalers market and the factors driving the market along with those that act as deterrents to its growth.
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Global smart inhalers market, based on the product, was segmented as, nebulizers and inhalers. In 2018, the inhalers held the largest share of the market, by product. In addition, the segment is also anticipated to grow at a significant rate during the forecast period. Inhalers are widely used in respiratory disorders such as asthma and COPD. They are available in various forms such as manually-actuated pressurized metered-dose inhalers, breath-actuated pressurized metered-dose inhalers, dry powder inhalers, and mist inhalers. The use of the type of inhaler highly depends on the intensity of the respiratory disorder and the need for its diagnosis.
The market for smart inhalers is expected to grow, owing to factors such as increasing levels of air pollution as well as the rise in the smoking habits, rising prevalence of asthma and COPD across the globe and growing geriatric population. In addition, growth in the global healthcare market and increasing usage of smartphones, tablets & pads are likely to have a positive impact on the growth of the market in the coming years.
The major players operating in the smart inhalers market include GlaxoSmithKline plc, Adherium Ltd., Vectura Group plc, Novartis AG, Findair Sp. z o. o., Cohero Health, Crux Product Design Ltd, Teva Pharmaceuticals, 3M, and Amiko Digital Health Limited. The market has witnessed various organic as well as inorganic developments during recent years in the smart inhaler market. During December 2018, GlaxoSmithKline plc and Pfizer Inc signed an agreement in order to combine their consumer health businesses into a new world-leading Joint Venture. This agreement has helped the companies to offer better services to its customers across the globe.
Rising Prevalence of Asthma and COPD Across the Globe
The cases of asthma and COPD has been increasing across the globe at a significant rate. During recent years, there has been a rise in the number of smokers as well as air pollution in developed as well as developing countries across the globe. As per estimates provided by the WHO, there are currently 235 million people suffering from asthma across the globe. As per the Centers for Disease Control and Prevention (CDC), the number of adults above 18 years of age currently having asthma is approximately 19 million in the United States, accounting for almost 7.7% of the total adult population. Whereas, the number of individuals below 18 years of age suffering from asthma is 6.2 million, accounting for 8.4% of the total children population. Also, as per the WHO estimates published during December 2016, there were 383 000 deaths due to asthma in 2015.
In addition, as per the Global Burden of Disease Study report, the prevalence of around 251 million cases of COPD was recorded globally during the year 2016. It is estimated that globally, approximately 3.17 million deaths were caused due to COPD during the year 2015, accounting for almost 5% of all deaths in 2015. The prevalence of COPD has been high in developed nations during recent years. For instance, COPD is recognized as the third leading cause of death by disease in the United States. More than 11 million people have been diagnosed with COPD. Hence, the rising prevalence of respiratory conditions such as asthma and COPD is anticipated to fuel the growth of the smart inhalers market across the globe at an exponential rate.
Increasing Usage of Smartphones, Tablets & Pads To Boost Adoption Of Solutions
Advancements in technology have always had a significant impact in the field of medicine. Smartphone is one of the most dynamic and ubiquitous trends in communication. Mobile phones can also be used for communicating through different platforms such as email, performing Internet searches, and various other applications. Smartphones are one of the fastest growing sectors in the technology industry, and its impact in medicine has already been observed significantly. Smartphones aren’t just making it easier in terms of day to day chores; the technology is also streamlining care for both physicians and patients. Hospitals are making significant investments in smartphone and secure mobile platforms to enable communications between clinicians and between them and patients, according to a new survey. Clinicians will often use both a hardened device and a consumer-grade smartphone to communicate with one another and patients. For example, purpose-built devices can be integrated with in-hospital patient call systems, so nurses are paged when a patient hits the call button, increasing responsiveness. The increasing use of smartphones is thereby expected to provide opportunities for the rising use of mobile-based applications by both healthcare providers and patients to streamline workflow and avoid inconvenience such as hospital waiting time, availability of admission beds and others.
The report segments the global smart inhalers market as follows:
Global Smart Inhalers Market – By Product
Global Smart Inhalers Market – By Disorder
Global Smart Inhalers Market – By End User
Global Smart Inhalers Market – By Geography
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