Global Smart Inhalers Market will Reach at USD 1.63 Billion by 2022

Smart Inhalers Market is growing rapidly post 2016 with the CAGR of 42.8% as the market is boosted due to the high prevalence of respiratory diseases and high patient adherence observed because of the use of smart inhaler technology.

The global market for smart inhalers is growing rapidly and expected to reach USD 1.63 Billion by the end of 2022.

Market Highlights
The global Smart Inhalers Market has been evaluated as rapidly growing market and expected that the market will reach high growth figures. Smart inhaler technology is quickly becoming one of the most valuable areas of pharmaceutical engagement in digital health. There has been rise in number of companies that are adopting this digital technology and opting to use it to enhance the management of lung disorders such as asthma and chronic obstructive pulmonary disorder (COPD), as well as improve the efficacy of the prescribed medications. Wide variety of benefits ranging from improving medication adherence to reducing hospital admissions, which makes smart inhalers the next big thing of respiratory care segment. Over the past 50 years, inhaler devices have revolutionized the respiratory care by delivering the medicines directly into the lungs and avoiding the adverse effects caused by the other modes of medication. However, there has been a point of concern for the doctors whether the patients are taking the medications correctly or not. Because, even if you have the most potent drug in the inhaler; if the patient does not take the medication correctly and on time, you will not see the desired effect of the drug.

Smart Inhalers are the digitally operated inhalers which are equipped with the sensors that detect the time of the dose taken by the patient and helps in monitoring the proper use of the inhaler drug. These smart inhalers are connected to various digital platforms which can help in scheduling the medication, setting reminders, tracking the use of medication among others. Smart inhalers have proven extremely beneficial in case of the children having respiratory disorders such as Asthma and COPD. In the trials conducted by Adherium, one of the leading smart inhaler sensor manufacturing company; the smart inhaler sensor was shown to improve adherence by up to 59% in adults and 180% in children with asthma. Currently, the smart inhalers are being developed for the asthma and COPD, but the technology can be used in the treatment of other disorders such as bronchitis and cystic fibrosis in the near future.

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Market Players:
• Adherium
• AstraZeneca
• Cohero Health
• GlaxoSmithKline
• Gecko Health Innovations Inc.
• Inspiro Medical
• Propeller Health

Regional Analysis:
Depending on geographic region, smart inhalers market is segmented into four key regions: North America, Europe, Asia Pacific, and Rest of World. Globally, North America is the largest market for smart inhalers. The North America market for smart inhalers is expected to grow at a CAGR 38.6% during the forecasted period. Europe is the second-largest market for smart inhalers which is expected to grow at a CAGR of 47.14%. Asia pacific region is expected to be fastest growing region in Smart Inhalers market.

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Smart Inhalers market has been segmented on the basis of type which comprises dry powder inhaler, and metered dose inhaler. On the basis of application, market is segmented into Asthma, COPD, and others. On the basis of end user, market is segmented into hospitals & clinics, respiratory care center, and others.

Intended Audience:
• Smart Inhalers service providers
• Smart Inhalers equipment manufacturers and suppliers
• Contract Research Organizations (CROs)
• Research and Development (R&D) Companies
• Government and Independent Regulatory Authorities
• Market Research and Consulting Service Providers
• Academic Institutes and Universities

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North America is recorded to be the largest and one of the rapidly growing markets due to increasing COPD cases. According to COPD foundation, there were around 30 million COPD people alone in America in 2015. The United States is one of the countries with highest number of COPD cases amongst other countries in North American region.

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Release ID: 183606