Smart Inhalers market Size to Reach USD 8.14 Billion in 2032 | Emergen Research

Vancouver, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The global smart inhalers market has achieved a substantial milestone, reaching a valuation of USD 8.14 billion in 2032, with a projected rapid revenue compound annual growth rate (CAGR) of 18.9% throughout the forecast period. This surge is primarily attributed to the escalating prevalence of respiratory tract disorders worldwide, coupled with the increasing adoption of remote patient monitoring, telehealth, and a growing emphasis on personalized healthcare.

Smart inhalers, integral to the treatment of respiratory conditions such as asthma and Chronic Obstructive Pulmonary Disease (COPD), have emerged as a vital healthcare device. The medical technology landscape has witnessed significant advancements in COPD and asthma treatments, with smart inhalers facilitating treatment adherence, providing dosage reminders, and enabling the tracking of inhaler usage.

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The prevalence of respiratory disorders globally has seen a substantial uptick, with approximately 200 million individuals affected by COPD and 262 million grappling with asthma. These conditions, including chronic bronchitis, emphysema, and chronic obstructive airway disease, contribute significantly to mortality, positioning COPD as the third leading cause of death worldwide.

Factors driving the market's revenue growth include the rising levels of indoor and outdoor pollution, allergens, and airborne particles, in addition to lifestyle shifts impacting the occurrence of asthma and other COPD-related illnesses. Government and non-government organizations worldwide are actively promoting proper inhaler usage, as highlighted by the World Health Organization's guidance on correct inhaler technique.

A pivotal market trend is the ability of smart inhalers to measure inhalation flow profiles and monitor medication delivery in patients. This capability addresses critical errors in coordination between inhalation and triggering dose release, as well as decreased drug reach due to improper breathing. Major companies, committed to Research & Development (R&D), are continually upgrading their product portfolios, contributing to the market's robust revenue growth.

However, challenges such as the high cost of smart inhalers and limited awareness about respiratory tract disorders, especially in underdeveloped and developing countries, could impede market growth. The accessibility of inhalers remains limited in many low- and middle-income countries, underscoring the need for broader education and affordability.

The Metered Dose Inhaler (MDI) segment dominated the global smart inhalers market in 2022, capturing the largest revenue share. MDIs are favored for their effectiveness, convenience, and precise dosing in delivering medication for respiratory conditions such as asthma and COPD. Their compact size and portability further enhance patient access and relief.

The Dry Powder Inhaler (DPI) segment is expected to witness moderate revenue growth, driven by the user-friendly and efficient nature of DPIs in delivering respiratory medications. DPIs, being breath-activated and propellant-free, appeal to patients with difficulties coordinating MDIs.

The asthma segment is poised to claim a substantial revenue share in the global smart inhalers market, fueled by the rising prevalence of asthma cases globally, increased R&D activities, and support from government and non-government bodies. The COPD segment is projected to experience the fastest revenue growth, driven by a surge in new cases globally and continuous exposure to pollutants and allergens.

Hospitals and clinics are expected to account for the largest revenue share in the global smart inhalers market due to their comprehensive infrastructure, specialized expertise, and collaborative approach in addressing respiratory tract disorders. The collaborative environment in these healthcare settings facilitates the integration of various treatment methods.

North America emerged as the market leader, boasting the largest revenue share in 2022. This dominance is attributed to product innovations, a high prevalence of chronic illnesses, and an aging population. Europe secured the second-largest revenue share, driven by the demand for COPD-related treatment and an increasing geriatric population. The Asia Pacific region is anticipated to witness significant revenue growth, fueled by increased healthcare spending, growing COPD awareness, and a rise in asthma cases.

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Scope of Research

Major Companies and Competitive Landscape

The global smart inhalers market is fairly fragmented, with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective smart inhalers solutions. Some major players included in the global smart inhalers market report are:

• H&T Presspart Manufacturing Ltd.
• Personal Air Quality Systems Private Limited
• COHERO Health Inc.
• Cognita Labs
• Adherium Limited
• Amiko Digital Health Limited
• Teva Pharmaceuticals Industries Ltd.
• Propeller Health
• Novartis AG
• Pneuma Respiratory Inc.
• 3M Health Care Limited
• AireHealth, Inc.
• FindAir Sp. z o.o
• Cohero health
• GlaxoSmithKline
• AstraZeneca
• Propeller Health
• Inspiro Medical
• Boehringer Ingelheim
• ResMed

Strategic Development

• On 23 July 2023, Teva Pharmaceutical Industries Ltd. launched its digitally-enabled inhaler named The GoResp Digihaler in the UK. It delivers inhaled corticosteroid budesonide and long-acting beta agonist formoterol and has built-in sensors that detect and record data on a patient’s use and ability to use their inhaler. It connects to a smartphone via Bluetooth, allowing to view the results on a companion app and share the results with their healthcare provider.
• On 7 July 2020, Novartis announced that the European Commission (EC) has granted approval for Enerzair Breezhaler for use as a maintenance treatment for asthma in adult patients. These patients include who have not achieved adequate control with a maintenance combination of a Long‑Acting Beta2‑Agonist (LABA) and a high dose of an Inhaled Corticosteroid (ICS), and who have experienced one or more asthma exacerbations in the previous year. Enerzair Breezhaler, administered once daily, represents the first fixed-dose combination of LABA/Long-Acting Muscarinic Antagonist (LAMA)/ICS available in the EU for these specific patients.

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For the purpose of this report, Emergen Research has segmented the global smart inhalers market on the basis of product, disease indication, distribution channel, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019-2032)

• • Dry Powder Inhaler
  • Metered Dose Inhaler

• Disease indication Outlook (Revenue, USD Billion; 2019-2032)

• • Chronic Obstructive Pulmonary Disease (COPD)
  • Asthma
  • Others

• Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)

• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

• End-use Outlook (Revenue, USD Billion; 2019-2032)

• • Hospitals and Clinics
  • Respiratory Care Centers
  • Others

• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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