Dublin, May 02, 2024 (GLOBE NEWSWIRE) -- The "Smart Inhalers Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global smart inhalers market has grown strongly in recent years. It will grow from $1.48 billion in 2023 to $1.62 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth observed in the historical period can be attributed to factors such as increased medical adherence among patients, a growing emphasis on patient-centric healthcare, and an increasing demand for connected healthcare devices. These elements collectively contributed to the adoption and expansion of smart inhalers during the historic period, reflecting a trend towards more patient-engaged and technology-enabled healthcare solutions.
The smart inhalers market is expected to see strong growth in the next few years. It will grow to $2.36 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The anticipated growth in the forecast period for smart inhalers can be attributed to factors such as the rising prevalence of chronic respiratory diseases (CRDs), an increasing demand for home healthcare solutions, and the growing adoption of digital healthcare technologies. Major trends expected in the forecast period include technological advancements in smart inhalers, the utilization of big data analytics for respiratory health management, the incorporation of chip-on-sensors, and advancements in sensor technology, all of which contribute to the evolution of more effective and patient-friendly respiratory care solutions.
The increasing prevalence of chronic respiratory diseases (CRDs) is set to drive the growth of the smart inhaler market. In Australia, respiratory disease-related deaths increased from 43,031 in 2020 to 46,551 in 2021, as reported by the Australian Institute of Health and Welfare in June 2023. Additionally, data from The Lancet in September 2022 revealed 11,255 new cases of respiratory syncytial virus (RSV) in 2021. The rising prevalence of CRDs is a significant driver for the smart inhaler market.
Major companies in the smart inhaler market are actively developing advanced technologies, such as digital respiratory health solutions, to cater to larger customer bases, increase sales, and boost revenue. In February 2022, Aptar Pharma introduced the HeroTracker Sense, an add-on connected device serving as a digital respiratory health solution. This device transforms standard metered-dose inhalers (MDIs) into smart connected healthcare devices, focusing on improving the lives of patients with chronic respiratory diseases. HeroTracker Sense, attached to the MDI canister, features sensors to track inhalation coordination, flow rate, and duration. It provides information through a companion app, offering medication reminders with date and time stamps, along with environmental monitoring alerts such as temperature and humidity. The device aims to enhance patient adherence to prescribed therapies by facilitating informed and compliant medication intake.
In August 2022, AptarGroup Inc. acquired worldwide rights to the proprietary Orbital dry powder inhaler (DPI) from Pharmaxis Inc. for an undisclosed amount. Orbital technology is designed to deliver high-payload dry powder to the lungs without the need to reload, allowing patients to inhale powder payloads of up to 400mg in divided doses. This strategic acquisition strengthens Aptar Pharma's position in respiratory drug delivery devices and associated services. Pharmaxis Inc., an Australia-based pharmaceutical company, specializes in the development of dry powder inhalers (DPIs).
North America was the largest region in the smart inhalers market in 2023. The regions covered in the smart inhalers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the smart inhalers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Research Scope
Markets Covered:
1) By Type: Dry Powdered Inhalers (DPIs); Metered Dose Inhalers (MDIs)
2) By Indication: Asthma; Chronic Obstructive Pulmonary Disease (COPD); Other Indications
3) By Distribution Channel: Hospital Pharmacies; Retail Pharmacies; Online Pharmacies
4) By End-user: Hospitals; Homecare Settings; Other End-users
Key Companies Mentioned: Novartis AG; AstraZeneca plc; GlaxoSmithKline plc; 3M Health Care Limited; Boehringer Ingelheim International GmbH
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $1.62 Billion |
| Forecasted Market Value (USD) by 2028 | $2.36 Billion |
| Compound Annual Growth Rate | 9.8% |
A selection of companies mentioned in this report includes, but is not limited to:
- Novartis AG
- AstraZeneca PLC
- GlaxoSmithKline PLC
- 3M Health Care Limited
- Boehringer Ingelheim International GmbH
- Teva Pharmaceutical Industries Ltd.
- Berry Global Group Inc.
- Aptar Group Inc.
- Lupin Limited
- Findair Sp.Z.o.o.
- OPKO Health Inc.
- Nemera France SAS
- Vectura Group Limited
- Propeller Health
- Inspiro Medical Ltd.
- Biocorp Production
- Cohero Health Inc.
- Pneuma Respiratory Inc.
- Amiko Digital Health Limited
- Cognita Labs LLC
- AireHealth Inc.
- Adherium Ltd.
- Zeolr Technologies Pvt. Ltd.
- H&T Presspart Manufacturing Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/5rspoj
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