Smart Inhalers Market Overview
Market Research Future (MRFR) says that the smart inhalers market can touch USD 4725.69 Million by 2025. Meanwhile, the smart inhalers market growth rate is expected to be a stunning 45.06% between 2019 and 2025 (appraisal period).
Primary Boosters and Challenges
Over the years, smart inhalers have proved to be a game changing invention in the digital world, emerging as a life savior for many. A smart inhaler works by connecting to an electronic instrument such as smartphone or PC, where it directly sends the information and is quite convenient for the user. It is extensively used by patients facing breathing issues owing to respiratory disease such as COPD, asthma, fibrosis, ARDS, and others. These issues are the result of the increase in air pollution in line with the growing emissions of toxic particles from factories as well as carbon from automobiles. Moreover, increasing adoption of unhealthy habits such as alcohol consumption and smoking that give way to pulmonary disorders have also enhanced the market size for smart inhalers.
One of the biggest reasons for the booming sales of smart inhalers can be the expanding elderly population worldwide. Elderly people generally encounter reduced immunity and are at higher risk of developing chronic and pulmonary diseases, which should be favorable for the global market. Numerous government initiatives across the globe, aimed at spreading awareness about respiratory disease prevention, the symptoms and the latest treatment options is also projected to benefit the global market in subsequent years.
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A significant opportunity can emerge in the form of rising collaborations between the leading manufacturers and digital firms to cater to the surging consume demand. These kinds of partnerships are likely to present lucrative opportunities for market expansion in the following years.
The market for smart inhalers has been considered for type, application, and end-user.
The key types of smart inhalers are dry powder inhaler as well as metered-dose inhaler. Metered dose inhalers are the most extensively used devices among asthmatic patients, since these deliver specific dosage of drugs directly to the lungs, offering quicker pharmacological action.
Major applications are asthma, COPD, and others. Smart inhalers’ highest applications are in asthma, as the cases are escalating worldwide owing to surge in air pollution levels and the mounting number of smokers.
Hospitals & clinics, respiratory care centers are some of the top end-users in the global market. The hospitals and clinics segment should emerge on the top in the ensuing years.
The market for smart inhalers has been regionally distributed into Asia Pacific/APAC, Americas, MEA or Middle East & Africa and Europe.
The Americas is on track to take the lead in the global market, given the substantial rising demand for smart inhalers among the burgeoning patient pool suffering from diseases such as COPD and asthma. Significant use of the latest technologies in the healthcare industry combined with the affordability and benefits of smart inhalers is bound to foster the sales in the forthcoming years. Country-wise, the highest contribution is made by the US, in view of the proactive involvement of the leading firms and frequent launches of highly advanced products.
Europe can be the second most profitable market in the following years, considering the substantial contribution of the renowned firms present in the region. Growing use of latest smart inhalers among patients as well as hospitals could be a key growth booster. The UK houses the biggest market in the region, thanks to the vast population of manufacturers present in the country offering extensive ranges of smart inhalers to a large customer base.
APAC shall be the fastest advancing market in the coming period, with China and India expected to be spearheading the growth. Both the countries are densely populated and are seeing rapid improvement in their healthcare industries, which is responsible for the market growth. Japan’s nebulizer sector is thriving, particularly the at home healthcare settings segment. Increasing approvals along with the escalating adoption rate of latest healthcare technologies favor the market as well. Soaring cases of asthma and chronic obstructive pulmonary diseases as well as cancer that requires pulmonary drug administration has also fostered the demand for smart inhalers in the region.
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Adherium (New Zealand), Cohero Health (US), Inspiro Medical (Israel), GlaxoSmithKline (UK), AstraZeneca (UK), Propeller Health (US), Gecko Health Innovations, Inc (US), are some of the leading manufacturers of smart inhalers worldwide.
Zydus Cadila, a renowned drug company launched a new pressurized metered dose inhaler for COPD (chronic obstructive pulmonary disease) patients in India. The smart inhaler has been made in-house using the company’s several innovations with respect to formulation technology.
Table of Content
1 Report Prologue
2 Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4 Market Dynamics
4.4 Macroeconomic Indicators
4.5 Trends & Assessment
5 Market Factor Analysis
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