Newark, July 18, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the smart inhaler market will grow from USD 116.81 Million in 2022 to USD 522.45 Million by 2032.The smart inhaler market is witnessing a rise in demand due to the number of patients suffering from respiratory disorders. Further, the rising urbanization has increased the level of pollutants in the air, which is found to affect the lungs of humans.
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Key Insight of the Smart Inhalers Market
North Americaregion to account for the largest market size during the forecast period.
North Americais expected to have the most major smart inhaler market share during the forecast period.The factors supporting the growth of theNorth American smart inhaler market include the increasing senior population at a higher risk of developing chronic respiratory issues.Many agencies are investing in high-end medical devices to increase the probability of effective treatments.
The dry powdered inhalerssegment is expected to augment the market during the forecast period.
The product type segment is divided into dry powdered inhalers and metered dosage inhalers. The dry powdered inhalerssegment is expected to augment the market during the forecast period.A dry powder inhaler is a safe therapeutic option for older children and teenagers with asthma. A dry powder inhaler allows the medication to enter the lungs deeply. These inhalers store the medication as a dry powder instead of other inhalers that puff the medication.
The asthma segment is expected to grow at the highest CAGR during the forecast period.
The application segment is divided into chronic obstructive pulmonary disease, asthma and others. The asthmasegment is expected to augment the market during the forecast period.There is an increasing incidence of asthma, especially among the geriatric population. Asthma can only be managed through the use of inhalers. Smart inhalers provide a way for asthmatic patients to administer the controlled dosage.
The online pharmacysegment is expected to grow at the highest CAGR during the forecast period.
The distribution channel segment is divided into hospital pharmacy, online pharmacy, and retail pharmacy.The online pharmacysegment is expected to augment the market during the forecast period.Smart inhalers are more conveniently available at online pharmacies than at hospitals and retail pharmacies.
The homecare settings segment is expected to grow at the highest CAGR during the forecast period.
The end-user segment is divided into hospitals and clinics, homecare settings and others. The homecare settings segment is expected to augment the market during the forecast period. Smart inhalers are increasingly used in home care settings to manage acute asthma attacks. Also, treatment of many respiratory diseases is usually managed at home; thus, patients change their dressings frequently to be themselves.
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Market Dynamics
Driver:Growing demand for smart inhalers
The difficulties patients and healthcare professionals face in managing respiratory disorders may be solved using smart inhalers. Smart inhalers and mobile applications collaborate to track medication scheduling and subsequent doses due to digital capabilities built to connect.Smart inhalers can deliver track adherence, and dosage reminders, correctly record the date, time, and location of each dose administered, and provide Bluetooth access to easily shareable data. Several smart devices offer external sensors that may be added to conventional inhalers or have sensors built into the inhaler's body.They are an efficient therapeutic choice due to their well-established capacity to deliver medication directly to the lungs while significantly lowering systemic adverse effects.
Restraint: Availability of substitutes
There are several types of nebulizers, and conventional inhalers arerestraining the growth of the smart inhalers market. These nebulizers are low-cost and effective for acute asthma and bronchitis patients. Also, these are readily available; thus, most of the patient population can access them as the earliest.
Opportunity: Supporting government initiatives
Over the years, there has been high investment in government initiatives for curbing the prevalence of chronic respiratory diseases. Global agencies such as WHO and the regional government have prescribed strict regulations for minimizing the risk of respiratory cross infections and chronic respiratory diseases. With increasing cases of chronic asthma, smart inhalershave been mandated in government and many private hospitals. Also, with decreasing air quality and a growing patient population, the focus on preventing respiratory diseases has increased. Further, the increasing research and development activities in various countries of the Asia-Pacific region on the potential benefits of smart inhalershave contributed to market growth.
Challenges: Stringent regulations
There are several regulatory restrictions implied on the product approval for smart inhalers. According to the Food and Drug Administration, the smart inhaler is a product intended to mitigate and treatrespiratory disease. The product must undergo the same FDA approval process as any other novel therapeutic agent. Before they can be used, smart inhalers must be proven safe and effective for their intended purpose.
Smart Inhalers Market: Report Scope
| Report Attribute | Details |
| Revenue forecast in 2032 | USD 522.45 Million |
| Market size value in 2022 | USD 116.81 Million |
| Expected CAGR Growth | 16.16% from 2023 - 2032 |
| Base Year | 2021 |
| Forecast Year | 2023 - 2032 |
| Top Market Players | H&T Presspart Manufacturing Ltd.,COHERO Health Inc.,Personal Air Quality Systems Private Limited,Adherium Limited,Cognita Labs,Teva Pharmaceuticals Industries Ltd.,Amiko Digital Health Limited,Novartis AG, Propeller Health,Pneuma Respiratory Inc.,AireHealth, Inc.,3M Health Care Limited,FindAir Sp. z o.o |
| Segments Covered | Product Type, Application, Distribution Channel and End-user |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
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Some of the major players operating in the smart inhalers market are:
• H&T Presspart Manufacturing Ltd.
• COHERO Health Inc.
• Personal Air Quality Systems Private Limited
• Adherium Limited
• Cognita Labs
• Teva Pharmaceuticals Industries Ltd.
• Amiko Digital Health Limited
• Novartis AG, Propeller Health
• Pneuma Respiratory Inc.
• AireHealth, Inc.
• 3M Health Care Limited
• FindAir Sp. z o.o
Key Segments Cover in the Market:
By Product Type:
• Dry Powdered Inhalers
• Metered Dosage Inhalers
By Application:
• Chronic Obstructive Pulmonary Disease
• Asthma
• Others
By Distribution Channel:
• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy
By End-users:
• Hospitals and Clinics
• Homecare Settings
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Million).All the segments have been analyzed global, regional, and country basis.The study includes the analysis of more than 30 countries for each part.The report analyzes driving factors, opportunities, restraints, and challenges to gain critical market insight.The study includes Porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
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