New York, Dec. 13, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Market.us, the Global Smart Inhalers Market size is expected to be worth around USD 16.86 Billion by 2032 from USD 2.88 Billion in 2023, growing at a CAGR of 22.4% during the forecast period from 2023 to 2032.
Smart inhalers are devices designed to facilitate the delivery of various drugs through inhalation. Common medications used with smart inhalers include insulin, glucocorticoids, and beta-agonists to address respiratory conditions like chronic obstructive pulmonary disease and asthma. Equipped with sensors in the form of clip-on sensors allowing accurate dosing monitoring these inhalers record and transmit data back to healthcare professionals and patients regarding usage patterns thus improving management and understanding of respiratory treatments for each patient.
Get a Complete and Professional sample PDF @ https://market.us/report/smart-inhalers-market/request-sample
Key Takeaway
- Market Size: Smart Inhalers Market size is expected to be worth around USD 16.86 Billion by 2032 from USD 2.88 Billion in 2023
- Market Growth: Growing at a CAGR of 22.4% during the forecast period from 2023 to 2032.
- Regional Analysis: Based on regional analysis, North America dominated with 48.0% of the market share in 2022.
- Drug Types: They are utilized for drugs such as insulin, glucocorticoids, and beta-agonists.
- Sensor Integration: Equipped with sensors, often in the form of a clip, smart inhalers monitor and record dosage intake.
- Data Transmission: The data collected by sensors is transmitted to healthcare professionals and patients for tracking and analysis.
Factors affecting the growth of the Smart Inhalers Market
Various factors influence the growth of the Smart Inhalers Market are;
- Rise in Respiratory Diseases: As asthma and COPD become more prevalent, their increasing prevalence drives demand for intelligent inhalers.
- Technological Advancements: Ongoing innovations in smart inhaler technology continue to enhance features, usability, and patient engagement driving growth and market expansion.
- Awareness and Education: Raising awareness about the advantages of smart inhalers among patients and healthcare professionals has a direct effect on market expansion.
- Government Initiatives: Government programs and healthcare policies encouraging the adoption of digital health technologies such as smart inhalers are crucial components of market expansion.
- Patient-Centric Healthcare: The evolution toward more patient-centric healthcare with its emphasis on self-management and remote monitoring has spurred adoption of smart inhalers.
Competitive Landscape
- Adherium Limited
- Aptar Group Inc.
- AstraZeneca, Inc.
- Cognita Labs, LLC
- GlaxoSmithKline Plc
- Novartis AG
- OPKO Health Inc.
- Philip Morris International Inc.
- Resmed Inc.
- Teva Pharmaceutical Industries Ltd.
- Other Key Players
Regional Analysis
In 2022, North America emerged as the dominant region, capturing 48.0% of the market share. This supremacy is attributed to elevated rates of COPD and asthma in Canada and the U.S. Asthma alone impacts over 25 million Americans, constituting 10% of the region's population. A significant contributor to this dominance is Adherium Limited, a key player in respiratory eHealth and remote monitoring technology. Notably, in September 2021, Adherium announced the FDA approval of their Hailie Sensor, incorporating physiological measures to monitor COPD medication usage in the United States.
To understand how our report can make a difference to your business strategy, Inquire about a brochure at https://market.us/report/smart-inhalers-market/#inquiry
Scope of the Report
| Report Attributes | Details |
| Market Value (2023) | US$ 2.88 Billion |
| Forecast Revenue 2033 | US$ 16.86 Billion |
| CAGR (2024 to 2033) | 22.4% |
| North America Revenue Share | 48.0% |
| Base Year | 2023 |
| Historic Period | 2018 to 2022 |
| Forecast Year | 2024 to 2033 |
Market Drivers
One key factor driving the Smart Inhalers Market is the rapid advancement and integration of digital health technology. Advancements in sensor technology, connectivity and data analytics lead to smarter inhaler devices with improved patient monitoring, medication adherence and overall respiratory care capabilities - leading to growth of this market segment.
Market Restraints
One major barrier in the Smart Inhalers Market is their high initial costs of adoption. Device development costs, sensor integration costs and connectivity technologies all can reduce widespread adoption - especially among regions with constrained healthcare budgets and limited accessibility in developing areas - further hindering market expansion.
Market Opportunities
An opportunity for expansion in the Smart Inhalers lies in its increasing focus on personalized healthcare. As more patients seek customized treatments tailored specifically to them, smart inhalers capability of offering insights and monitoring becomes even more vital - creating an ideal environment for their adoption by users, offering future market growth potential.
Immediate Delivery Available | Buy This Premium Research Report https://market.us/purchase-report/?report_id=104286
Report Segmentation of the Smart Inhalers Market
By Product
The Inhaler market includes an expansive variety of products, with Dry Powdered Inhalers (DPIs) and Metered Dose Inhalers (MDIs) standing out as notable categories. DPIs, which deliver medication in powder form, are acclaimed for their ease of use and environmental friendliness while MDIs, which dispense measured spray or mist doses, are prized for portability and convenience. Both play an integral part in respiratory care with specific advantages for each: DPIs excel at dosing accurate doses without propellants while MDIs offer compact yet quick solutions; their dynamic interplay shapes the ever-evolved landscape of respiratory medication delivery.
Indication Analysis
Asthma and Chronic Obstructive Pulmonary Disease (COPD) represent two indications for smart inhalers market growth. Of particular note is COPD segment's revenue share exceeding 50% by 2022 - reflecting its global prevalence which caused 3.23 million deaths worldwide according to WHO estimates in 2019. Meanwhile asthma, which affects approximately 300 million people worldwide is growing steadily with projected hospitalization growth of 18.3% within five years (especially children under five).
Distribution Channel Analysis
Hospital pharmacies dominate the smart inhaler market with 40.0% market share and represent its fastest-growing segment due to factors like an aging geriatric population and rising Chronic Respiratory Diseases (CRDs). Retail pharmacies are projected to experience fast growth of 19.2% during this forecast period; their popularity can be attributed to their convenience, flexibility, comfort, and easy accessibility; this trend is driving market demand while driving existing pharmacies to quickly adapt and enhance their services for maximum market penetration.
End-User Analysis
By end-users, the global smart inhaler market can be divided into Hospitals and Homecare Settings. Hospitals accounted for more than 50% of market share by 2022 due to collaborative efforts between public and private entities as well as rapid advancements in healthcare infrastructure and improved accessibility of services. Homecare settings projected 20.2% annual compounded compound growth over this timeframe due to rising healthcare costs driving individuals with Chronic Respiratory Diseases (CRDs) toward home-based therapy; also popular among geriatric patients as a form of care.
Recent Developments in the Smart Inhalers Market
- May 2023: Philip Morris International Inc. Announced the development of a smart inhaler for respiratory drug delivery, leveraging their expertise in aerosol technology from their nicotine inhalation products.
- June 2023: OPKO Health Inc. Launched the Handilhale® smart inhaler with a built-in sensor and mobile app for tracking medication usage and providing personalized insights to patients with chronic obstructive pulmonary disease (COPD).
- August 2023: GlaxoSmithKline Plc (GSK) Partnered with Propeller Health to integrate their smart inhaler technology with GSK's respiratory medications to improve adherence and clinical outcomes.
- September 2023: Adherium Limited Acquired Propeller Health, a digital health company focused on respiratory diseases, strengthening their smart inhaler platform and data analytics capabilities.
Want to Access the Statistical Data and Graphs, Request PDF Sample @ https://market.us/report/smart-inhalers-market/request-sample
Market Segmentation
By Product
Inhalers
- Dry Powdered Inhalers (DPIs)
- Metered Dose Inhalers (MDI)
Nebulizers
By Indication
- Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Other Indications
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By End-User
- Hospitals
- Homecare Settings
- Other End-Users
By Geography
North America
- The US
- Canada
- Mexico
Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Browse More Related Reports
- Electromagnetic Therapy Device Market is projected to be USD 347.6 Mn in 2022 to reach USD 600.0 Mn by 2032 at a CAGR of 6.9%.
- Hospital Linen Supply and Management Services market was worth USD 12,208 million in 2021
- Digital Pregnancy Test Kit Market is projected to be USD 367.6 Mn in 2022 to reach USD 587.4 Mn by 2032
- Automated Whole-Breast Ultrasound Market is projected to reach a valuation of USD 557.23 Mn by 2032
- Advanced Molecular Nuclear Imaging Market is projected to reach a valuation of USD 7,604.81 Mn by 2032
- Medical Illumination Systems Market is projected to achieve a valuation of USD 6,134 Mn by 2031
About Us:
Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.
Follow Us on LinkedIn |
Our Blog:
