The global smart inhalers market size was valued at $34 million in 2018 and is estimated to reach $1,406 million by 2026, growing at a CAGR of 58.4% from 2019 to 2026. Smart inhalers are clip-on sensors, also known as connected inhalers, which are attached to the traditional inhalers. They are used to track the medication, dosage, and time taken for each dose linked wirelessly to the cloud. These inhalers are part of ?Internet of Things,? thus providing correct use of the medication, improved adherence to the inhaler, and better health outcomes. Doctors and patients can easily benefit from the use of smart inhalers as they monitor the dosage and provide reminders at the time of dose, which can be recorded for understanding the patient?s daily routine.
The global smart inhalers market is analyzed under three different scenarios, namely, moderate growth, rapid growth, and diminishing growth. Market growth is attributed to the rapid increase in the incidence of respiratory diseases, rise in air pollution, and growth in healthcare burden, owing to higher cases of asthma and COPD. In addition, expected increase in adherence to smart inhalers is another major factor that drives the growth of the smart inhalers market. However, limited availability of smart inhalers, high cost of asthma and COPD treatment, and resistance toward adoption of smart inhalers are expected to hinder the market growth.
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The market is segmented on the basis of product, indication, end user, and geography. By product, it is segmented into inhalers and nebulizers. Inhalers dominates the market, which is further divided into dry powder inhalers (DPIs) and metered dose inhalers (MDIs). Based on indication, smart inhalers are bifurcated into asthma and COPD.
Based on distribution channel, it is divided into hospitals, retail pharmacies, and online pharmacies. In terms of geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America was the leading revenue-generating region, whereas Asia-Pacific is projected to grow at the high CAGR, owing to rise in demand for smart inhalers and increase in COPD and asthma cases.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
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KEY BENEFITS FOR STAKEHOLDERS
? The study provides an in-depth analysis of the global smart inhalers market along with the current trends and future estimations to elucidate the imminent investment pockets.
? A quantitative analysis from 2019 to 2026 is discussed to enable the stakeholders to capitalize on the prevailing market opportunities.
? In-depth analysis of the market based on products such as inhalers and nebulizers is carried out in the report.
? The global smart inhalers market scenario is comprehensively analyzed in accordance to the key cities.
LIST OF KEY PLAYERS PROFILED IN THE REPORT (DEVICE PROVIDERS)
? AstraZeneca, plc.
? GlaxoSmithKline, plc
? Novartis International AG
? Adherium Limited
? Boehringer Ingelheim Group
? Cohero Health Group
? Vectura Group, plc.
? Opko Health Group
? Teva Pharmaceutical Industries Ltd.
? ResMed Inc.
KEY MARKET SEGMENTS
By Product
? Inhalers
o Metered Dose Inhalers
o Dry Powder Inhalers
? Nebulizers
By Indication
? Hospitals
? Ambulatory Surgical Centers
? Others
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By Distribution Channel
? Hospitals
? Retail Pharmacies
? Online Pharmacies
By Region
? North America
o U.S.
o Canada
o Mexico
? Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
? Asia-Pacific
o Japan
o China
o Australia
o India
o Rest of Asia-Pacific
? LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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