Global Smart Inhalers Market – Overview
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.
The Global Market for Smart Inhalers is growing continuously and expected to grow at a CAGR of 42.8% during the forecast period 2017-2023. According to a recent study report published by the Market Research Future, The Global Smart Inhalers Market is booming and expected to gain prominence over the forecast period growing rapidly.
Smart inhalers market has been driven by various factors including their advantage over conventional inhalers technological advancements, improving adherence to inhalers, linking with telehealth, and also due to extensive use of smart computing devices. Due to these reasons the market is expected to rise further in the coming future. Simultaneously other factors restricting the market growth includes data security concern related to security devices, regulating government policies for the use of healthcare devices, and also limited availability of these products in potential emerging market and regions.
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.
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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.
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 - 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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