The Worldwide Smart Inhalers Industry is Expected to Reach $1.1 Billion by 2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Smart Inhalers Market by Product, Indication, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.

The global smart inhalers market was valued at $118 million in 2020, and is estimated to reach $1,113.57 million by 2030, growing at a CAGR of 25.1% from 2021 to 2030.

Smart inhalers are devices used for delivering a variety of medication through inhalation and can be connected to devices such as smartphones or any digital device. The drugs used in the inhalers include, anti-cholinergic, glucocorticoids, insulin, and beta-agonists for the treatment and prevention of respiratory diseases, such as asthma and chronic obstructive pulmonary diseases (COPD). Smart inhalers have sensors that send feeds back, reminders and monitors an individual's health regularly. It also notifies about high pollution areas as well high pollen threat.

Smart inhalers have proved to increase the adherence rate in patients suffering from asthma and COPD. Moreover, smart inhalers also help to monitor the technique used for inhaling the medicine in an effective manner as compared to normal inhalers. Smart Inhalers are of two types, namely metered dose inhalers and dry powder inhalers.

This market is majorly driven by increase in population suffering from asthma and COPD. Increase in air pollution directly increases asthma and other respiratory cases, which in turn, boosts the demand for smart monitoring devices. According to the World Health Organization (WHO), chronic obstructive pulmonary disease (COPD) is the third leading cause of death globally, causing 3.23 million deaths in 2019 and more than 80% of these deaths occurred in low and middle income countries. Thus, such large mortality and unmet medical demands can be reduced by increased initiatives and utilization of smart inhalers and is an opportunity for the investors to invest in such countries.

Market players have invested in various developing smart inhalers products that aid in monitoring asthma and COPD, wherein, the data acquired by the sensors of these smart inhalers is shared with the patient and healthcare professionals to track their inhaler usage. The data monitored is then shared using the Bluetooth technology to their mobile apps through an online platform and subsequently, electronic health records (EHR) or electronic medical records (EMR) are maintained.

Smart inhalers are expected to increase the adherence rate of patients to traditional inhalers. Unintended non-adherence arises when patients misunderstand instructions and forget or have physical problems such as poor coordination or eyesight, thus leading to limited ability to take their medicines. Smart inhalers, such as the Adherium's Hailie solution is a cloud-based platform, which captures medication use data from Bluetooth enabled sensors that wraps around patient inhalers and provides real-time feedback to patients via the Hailie app and to their physicians via the Hailie portal. Increase in non-adherence is known to be a source of disease to patients as well as financial burden to payers and prescribers. Thus, increase in adherence to smart inhalers is expected to improve the treatment of asthma and COPD patients.

However, as smart inhalers are wirelessly connected and keep a record of the patient's data, the risk of data leakage and misuse of data increases significantly. As smart inhaler is a new device, its acceptance among patients as well as physicians is considerably low and is thus, expected to restrain the growth of the market. Furthermore, presence of a plethora of products in the pipeline and high market potential in untapped emerging economies are anticipated to serve as attractive opportunities for market growth during the forecast period.

Key Benefits

• This report provides an extensive analysis of the current and emerging market trends and dynamics in the global smart inhalers market to identify the prevailing opportunities
• This study presents the competitive landscape of the global market to predict the competitive environment across geographies
• Comprehensive analysis of factors that drive and restrict the market growth is provided
• Region- & country-wise analysis is provided to understand the market trends and dynamics

Key Segments

By Product

• Inhalers
• Dry Powdered Inhalers (DPIs)
• Metered Dose Inhalers (MDI's)
• Nebulizers

By Indication

• Asthma
• COPD

By Distribution Channel

• Hospitals Pharmacies
• Retail Pharmacies

By Region

• North America
• US
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Italy
• Russia
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
• LAMEA
• Brazil
• UAE
• Turkey
• Saudi Arabia
• Rest of LAMEA

Key Players

• Adherium Limited
• Aptar Group Inc (Cohero Health Inc)
• AstraZeneca, Inc
• Cognita Labs, LLC
• GlaxoSmithKline Plc
• Novartis AG
• OPKO Health Inc
• Philip Morris International Inc (Vectura Group Plc)
• Resmed Inc (Propeller Health)
• Teva Pharmaceutical Industries Ltd

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