Smart Inhalers Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3994
Smart Inhalers Market size is projected to experience significant growth from 2019 to 2025.
Growing incidence of respiratory illness such as chronic obstructive pulmonary disease (COPD) and asthma will stimulate global smart inhalers market growth in the coming years. According to the World Health Organization (WHO), every year about 65 million people suffer from COPD, and 334 million people suffer from asthma globally. Thus, with growing incidence of respiratory illness, the demand for preventive and curative medicine will increase, thereby driving the smart inhalers business growth.
Growing number of tobacco smokers will significantly increase the number of patients suffering from respiratory diseases. Smoking causes about 90% of all lung cancer deaths and thus smokers are more likely to die from COPD than non-smokers. Also, according to Centers for Disease Control and Prevention (CDC), about 40 million adults in the U.S., and about 4.7 million middle and early adolescence age individuals smoke at least one tobacco product every day, including e-cigarettes. Moreover, rapid industrialization has led to the increasing levels of air pollution and exposure of dust, thereby leading to respiratory diseases. This acts as a key driving factor that will stimulate global smart inhalers business growth in the coming years.
However, the high costs involved in the treatment coupled with lack of reimbursement may restrain the demand for smart inhaler market growth. Furthermore, limited availability of smart inhalers will limit the implementation of smart inhalers market to certain extent.
Metered dose inhalers (MDIs) segment will hold a significant revenue size over the forecast years due to its advantages such as convenience, compliance and relatively inexpensive. Additionally, advanced technological aspect on portability of these inhalers with the addition of connectivity features will also drive the market growth. Furthermore, the rise in geriatric population that is prone to various respiratory conditions, increasing technological advancements, and emerging market economies will offer growth opportunities for smart inhalers in the forthcoming period.
Chronic obstructive pulmonary disease (COPD) segment will show momentous growth due to increasing number of tobacco smokers, rising geriatric population pool, and rising levels of air pollution. Recent technological advancements such as ProAir Digihaler by Teva pharmaceuticals for the prevention and treatment of asthma and COPD will also drive the segmental growth during the projection timeframe.
Hospitals segment will show significant growth owing to the availability of improved and specialized technology-based smart inhalers in these facilities. Growing infrastructure to provide quick therapy transitions and favorable reimbursement policies will enhance market growth. Furthermore, growing number of hospitalizations will drive the segmental growth during the projection timeframe.
North America smart inhalers market is estimated to foresee a lucrative growth over the forecast period due to the growing incidence of respiratory illness coupled increasing number of tobacco smokers. Additionally, due to the rapid industrialization, growing infrastructural demand, and the use of these technologies in the field of smart management of asthma and COPD will also drive the market growth. Moreover, growing inclination of patients towards homecare treatment due to its cost effectiveness and convenience factors will accelerate the market growth during the forecast period.
Asia Pacific smart inhalers market is estimated to witness lucrative growth over the forecast period due to increasing geriatric population that is more susceptible to respiratory diseases such as asthma and COPD. The growth is attributed to growing demand for highly innovative technologies and devices. Also, rise in demand and patient awareness about the use of digital smart inhalers will offer growth opportunities for these inhalers in the forthcoming period.
Few of the key companies operating in smart inhalers market include Teva Pharmaceutical Industries Ltd., Vectura Group plc, Adherium Limited, Cohero Health, Inc. and 3M. Firms are adopting new product launch, collaborations and merger & acquisition strategies to increase their market footprint. For instance, in January 2016, Novartis collaborated with Qualcomm life to develop smart inhaler technology for COPD. Such collaborations between digital and software companies will enhance their distribution channel and thereby increases both the company’s smart inhalers division.
Smart Inhalers Market by Product type, 2014-2025 (USD Million)
- Dry Powder Inhalers (DPIs)
- Metered Dose Inhalers (MDIs)
Smart Inhalers Market by Indication, 2014-2025 (USD Million)
- Chronic Obstructive Pulmonary Disease (COPD)
Smart Inhalers Market by End-use, 2014-2025 (USD Million)
- Respiratory care centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Adherium Limited
- Cohero Health, Inc.
- Opko Health, Inc.
- Propeller Health
- Koninklijke Philips N.V.
- Sensirion AG
- Teva Pharmaceutical Industries Ltd.
- Vectura Group plc
- Amiko Digital Health Limited
- GlaxoSmithKline plc
- Novartis AG
- AstraZeneca plc
- Boehringer Ingelheim International GmbH
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