Market Research Future (MRFR) has published a research report about the global smart inhalers market. According to this report, the market is expected to rise by 42.8% CAGR (Compound Annual Growth Rate) growth during the forecast period (2016 – 2022). Approximate growth figure by 2022 is estimated to be the US $1636.1 mn. As per statistics, dry powder inhalers hold the largest share of the market.
This report segments the global smart inhalers market into types, application, end users, and region. Type-based segmentation of the market covers dry powder inhaler and metered dose inhaler. By application, the market has been segmented into asthma, chronic obstructive pulmonary disease (COPD), and others. The end-user market is segmented into by the type which comprises of dry powder inhaler, and metered dose inhaler. By application, the market is segmented into Asthma, COPD, and others. By the end user, the market is segmented into hospitals & clinics, respiratory care center, and others.
In a consumerist world, consumers depend more and more on devices and after smartphone, smart cards, smart TV, smart watch, smart pads, smart boards, smart sensors and air conditioners, the world has recently witnessed an innovation called smart inhalers which is boon for people suffering from respiratory diseases like asthma. Due to its benefits like aided consultations from clinicians to patients, better asthma control, improved quality of life, ease of monitoring and tracking inhaler usage and informed decision making for clinicians, the market of smart inhalers is rising rapidly.
Due to the scope of market growth, smart inhalers industry is witnessing huge innovations regarding asthma treatment and pediatric sciences. For the treatment of respiratory diseases, increasing technological advancements and the need for integrated cloud-based technologies are the key factors that are contributing to the market growth. Cloud-based solutions are being emphasized to simplify chronic respiratory disease management. These solutions also connect patients and caregivers through real-time tools and remote monitoring. Clinical approvals and growing acquisitions for various competitive products by the major players also highlight the growth of the global smart inhalers market.
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Global Smart Inhalers Market – Key Players
Adherium Limited (New Zealand), AstraZeneca (England), Cohero Health (USA), GlaxoSmithKline (U.K.), Gecko Health Innovations Inc (USA), Inspiro Medical Ltd., and Propeller Health (USA) are some of the prominent players at the forefront of competition in the Global Smart Inhalers Market and are profiled in MRFR Analysis.
Latest Industry News:
Adherium’s partnering and market expansion for the ‘Rest of World’ territories, including countries in Asia Pacific and the Middle East where Adherium already has sanctions to market its Smartinhaler products in China, Australia and New Zealand. This will increase the company’s strength in these countries.
Moreover, AstraZeneca, multinational pharmaceutical and biopharmaceutical Company had recently started its expansion in respiratory business with the acquisition of respiratory business of Tadeka Pharmaceuticals in 2016, and also with partnership with Adherium, for the supplies of smart inhaler and sensors.
In January 2017, AstraZeneca announced that on 25 January 2017 the US Food and Drug Administration (FDA) granted six months of paediatric exclusivity for Symbicort (budesonide/formoterol) Inhalation Aerosol. Symbicort is approved in the US to treat asthma in patients 12 years and older and for the maintenance and treatment of COPD in adults, the company is expecting larger market share with the product launch.
Gecko Health Innovations, Inc., acquired by Teva Pharmaceutical in 2015, focusing on cloud-based solution to simplify chronic respiratory disease management, and connect patients and caregivers through remote monitoring and real-time tools. The major driving factors for the company’s growth in the market are due to increasing technological advancements and need for integrated cloud-based technologies in the treatment of respiratory diseases.
Global Smart Inhalers Market – Key Finding
- The Smart Inhalers global market and is expected to reach $1636.1 million by 2022.
- Dry Powder Inhalers hold the largest share of the market.
- North America holds the largest market share of 54.3% of smart inhalers market and is anticipated to reach $888.4 million by the end of forecast period.
- Globally, Asia-Pacific the fastest growing region and expected to grow at the rate of 55.3% during the forecast period.
Global Smart Inhalers Market – Segments
Smart Inhalers Market has been segmented on the basis of type which comprises of 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.
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Global Smart Inhalers Market – Regional Analysis
Globally North America is the largest market for Smart Inhalers which is anticipated to reach $888.4 million by 2023. Europe is the second-largest market in 2016 which is valued at $57.4 million. Furthermore, Asia pacific market is expected to be the fastest growing market and is projected to grow at a CAGR of 55.3% during the forecast period from 2016-2022. Smart inhalers market in rest of world is expected to rise after 2019.
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