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Global Smart Inhaler Market was Valued at US$ XX Bn in 2019 and it is Expected to Reach More than US$ 1.6 Bn by 2028, Likely to Grow with the CAGR of 27.4% During the Forecast Period.
An inhaler is a medical device which is used to provide medication into the body through the lungs. It is mainly used to treat lungs related problems such as Asthma and COPD. Apart from its traditional qualities smart inhalers has one additional feature i.e it is linked to the mobile phone of the user through Bluetooth. The smart inhaler allows patients to track their medication records. Besides this, mobile app also helps patients in reminding the medication time so that patients can have their medicines timely.
Increasing Prevalence of People Suffering Lung Problems Such Asthma and COPD Due To Increase Air Pollution to drive the Global Market
There are number of factors that are facilitating to the growth of this market. According to the study it was observed that the use smart inhalers help to improve the asthma under control. This is the key factor that has enabled the patients to switch to smart inhalers. Besides this, digital features in the smart inhalers and on-going advancements in the smart inhalers technology will help the market to grow at a faster rate. The market will also witness increase in sales owing to rising prevalence of people suffering lung problems such asthma and COPD due to increase air pollution. Moreover, increasing healthcare infrastructure and rising awareness of this product in the developing will further boost the market growth. However, since the product is just commercialized in the recent year hence the cost of the product is more when compared with traditional inhalers this may restrain the growth of the market for some years. But with continuous on-going research and existing new companies coming into the smart inhaler market will push the prices of the smart inhalers down in the coming year this will indirectly increase the adoption of the product among the patients.
Europe To Dominate The Global Smart Inhalers Market During The Forecast Period
Geographically, Europe market is expected to have the highest market share in the global smart inhalers market. Factors such as presence of smart inhalers manufacturing companies, current on-going research on the enhancement in smart inhalers, adoption of smart inhalers and presence of geriatric population have contributed to the growth of this market. North America also the significant market share in this market meanwhile Asia Pacific region is expected to grow at the fastest rate. High population, increase spending on healthcare infrastructure and noteworthy population suffering from the asthma and COPD are the factors that will help to exhibit the highest growth.
Companies involved in the commercialisation of the smart inhalers include Astra Zeneca, Novartis, and Glaxosmithkline. The product is relatively new to the market and the adoption of the product is drastically increasing. Current set of smart inhalers are Bluetooth enabled that only records the data of inhaler use. However, several companies are concurrently working on adding more digital features in the smart inhalers. In the future, it can be expected that smart inhalers through the use of smartphones can receiver and interpret the data and could send health advice and remainders to the patients. Besides this, these records can be shared with the doctors or nurses and can help patients to identify when he/she and on what conditions they are required to use inhalers. This can help patients to improve their asthma control.
Researchers along with the inhaler manufacturing companies are working on the improving the inhalation technique. For instance, researchers of Royal College of Surgeons in Ireland are working along with Glaxosmithkline’s one of the popular inhaler to monitor and detect errors in technique and time of inhalation. Also, several of the researchers are working on improving the patient’s asthama under control.
Global Smart Inhaler Market, By Product
Global Smart Inhaler Market, By Indication
Global Smart Inhaler Market, By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Global Smart Inhaler Market, By Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America