Global Smart Inhalers Market
Global smart inhalers market report provides a detailed overview of smart inhalers worldwide with specific focus on key regions such as North America, Europe, Asia pacific, Latin America, and MEA. The report on global smart inhalers market gives historical, current and future market size (US$ Mn) on the basis of product type, application, distribution channel, and geography. This study analyses the global smart inhalers market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has studied the global market to better equip customers with potential investment opportunities across region and market unmet needs.
Global Smart Inhaler Market:
In 2019, global smart inhalers market was measured at US$ 37.4 million and is expected to hit US$ 1.5466 million by 2026 rising at a CAGR of 58.4% from 2020 to 2026. The Global smart inhalers market is driven by growing prevalence of people suffering from asthma and copd and technological developments in the development of better smart inhalers devices and systems. Chronic respiratory diseases account for about 8.3% of the global chronic disease burden, contributing to more than 4 million deaths a year, according to figures from the WHO. COPD is believed to occur in over 210 million people worldwide, with about 300 million asthma patients expected. In addition, untapped consumer potential is expected to provide lucrative opportunities for market development in smart inhalers in emerging regions with more population and shortage of healthcare amenities, however higher costs associated with the production of smart inhalers for asthma and COPD are expected to hinder the growth of smart inhalers market due to its unaffordability in the developing countries.
Technological advancement favors the development of smart inhalers market:
Nowadays there are extensively available connected devices for asthma and COPD, particularly smart inhalers, which monitor and track drug use accurately. Smart inhalers are robust and accurate and respiratory inhalers currently available are inadequate for proper asthma and COPD care. Instead of simply offering incrementally better drugs, this scenario suggests that smart inhalers have new ways to deliver and enable patient self-management. For example, a swiss based company Sensirion has developed SDP3X which can be incorporated into smart inhalers.
North America dominates the market share in the global smart inhalers market:
The size of North American smart inhalers market worth estimated to US$ 23.5 million in 2020 and projected to be growing at a CAGR of 67.5% to reach US$ 311.2 million by 2025 due to improved healthcare system and facility, raising the number of patients suffering from asthma and COPD and increase in geriatric population. In 2019, Europe accounted for 35.1% and is predicted to be the second largest in the forecast period. The Asia Pacific Market is estimated to see pegged around CAGR 12.5% over the analysis timeline.
Key player’s profiles in the global smart inhaler market include-
- Adherium (New Zealand)
- AstraZeneca (U.K)
- Cohero health (U.S)
- GlaxoSmithKline (U.K)
- Gecko Health Innovations, Inc (U.S)
- Inspiro medical (Israel)
- Propeller Health (U.S)
- In 2019, collaboration between Novartis and Qualcomm, acquisition of Inspiro Medical by Opko Health, and acquisition of Gecko Health by Teva Pharmaceuticals for manufacturing smart inhalers.
- In September 2017, Adherium has received approval from FDA for its new Symbicort inhaler monitoring device SmartTouch for the Symbicort aerosol inhaler from AstraZeneca.
- In February 2017, Propeller Health collaborated with Novartis to develop a custom add-on sensor for the Breezhaler inhaler.
- In 2019, world’s first smart inhaler was approved by FDA-Teva’s ProAir Digihaler.
Key Findings of the Report:
- Global smart inhaler market expanding at significant CAGR over 2020 to 2026 owing to increasing number of patients suffering from asthma and COPD and technical developments.
- North America accounted for larger share of market revenue in 2020 based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Metered dose inhalers
- Dry powder inhalers
- Retail pharmacies
- Online pharmacies
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- Rest of South America
Middle East and Africa
- South Africa
- Rest of MEA