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Description
Inhalers Market Size is estimated to be valued at USD 19,445.4 Million in 2021 and is poised to grow at a significant CAGR of 4.3% over 2022-2028. Due to an increase in occurrences of respiratory disorders, particularly the diagnosis and treatment of COVID-19, hospital and clinical visits increased considerably, resulting in an increase in demand for inhalers and nebulizers, propelling the market forward. Various collaborations, partnerships, and acquisitions between pharmaceutical companies and smart inhaler manufacturers have increased competition in the smart inhaler industry, and the rise in healthcare expenditure in such economies presents lucrative opportunities for the market; thus, is a great opportunity for key players to invest. Although inhalers have proven to be very successful devices, the wide variety of devices available can make it difficult for physicians to determine which one is best for a certain patient. In the future years, the market will be driven by the rise in popularity of smart respiratory inhaler devices. Smart inhaler devices connect to a smartphone app, allowing users to keep track of dose reminders and prescription schedules.
Recent Market Developments:
In January 2021, Vector Capital announced the acquisition of Mood Media, the world’s top in-store media solutions company dedicated to improving consumer satisfaction.
In July 2020, Novartis received the European Commission (EC) permission for Enerzair Breezhaler, which has the first digital companion (sensor and app) in the EU that can be prescribed alongside asthma medication.
In May 2020, Iconovo received CE mark approval for its capsule-based dry powder inhaler ICOcap for use in clinical trials.
