According to the report published by Allied Market Research. The report has a title as “Smart Inhalers Market by Product (Inhalers and Nebulizers), Indication (Asthma and COPD), and Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies): Global Opportunity Analysis and Industry Forecast, 2019 – 2026”
Global smart inhalers market size was valued to be at $34 million in 2018 and is expected to increase during the forecast period to be at $1,406 million by 2026, registering a CAGR of 58.4% from 2019 to 2026. The inhalers segment accounted for more than half of the total market share in 2018.
Global increase in air pollution, rise in population susceptible to indoor air pollutants, increasing prevalence of COPD and asthma, adherence to smart inhalers, mounting collaboration between pharmaceutical companies and smart inhaler manufacturers, and growing incidences of chronic conditions have fueled the growth of global smart inhalers market. On the other hand, COPD treatment and resistance towards adoption of smart inhalers have happened to curb the growth to some extent. Nevertheless, increased focus towards advanced treatment protocols, unmet needs in respiratory care and rising awareness about moderated healthcare costs have created multiple opportunities in the segment.
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The report emphasizes on the various segments of global smart inhalers market. The market is categorized into product, indication, end-user and geography. Based on product, the market is divided into inhalers and nebulizers. The report splits the indication segment into asthma and COPD. Based on end-user, the market is fragmented into patients and R&D. By region, the market is analyzed across North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA).
By product, Inhalers accounted for the largest market in 2015 and is projected to grow at a CAGR of 63.2%. Based on indication, COPD indication contributed to the largest segment and is anticipated to grow at a CAGR of 64.5%. This is due to significant increase in COPD incidence rate. By region, Europe and Asia-Pacific together accounted for around half of the market share in 2015 and are expected to dominate during the forecast period.
The key players in the smart inhalers market are encompassing the scope of their business operations in the developing countries by incorporating new products in their product portfolios. The report includes an analysis of the major market players such as Vectura Group plc., Boehringer Ingelheim GmbH, GlaxoSmithKline plc., Cohero Health, LLC; Propeller Health, OPKO Health, Inc. (Inspiro Medical Ltd.), Teva Pharmaceutical Industries Ltd. (Gecko Health Innovations), AstraZeneca plc, and Novartis AG. These market players have adopted a number of different strategies including expansion, mergers & acquisitions, partnerships, collaborations, and others to maintain their top status in the market.
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