The latest market report published by Credence Research, Inc. “Global Smart Inhalers Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global smart inhalers market was valued at US$ 1,006.6 Mn in 2017, and is expected to reach US$ 3,674.6 Mn by 2026, expanding at a CAGR of 15.7% from 2018 to 2026.
According to research findings of the World Health Organization (WHO), chronic obstructive pulmonary disease accounts for 5% of global deaths annually. There is no permanent cure for chronic respiratory conditions such as COPD, asthma and bronchitis. Immediate symptomatic relief offered by respiratory inhalation is the best cure, and therefore smart inhalers have a remarkable market growth in the near future due to excellent patient adherence and compliance with the treatment regimen.
Metered dose inhalers (MDIs) are the type segments of the smart inhalers market. Excellent PK / PD profile achieved during drug delivery and increasing demand in geriatric patients suffering from chronic disease drives market growth of metered dose inhalers. Dry powder inhalers have recently become extremely attractive due to drug toxicity and serious adverse effects caused by propellants used in MDIs. Nebulizers are commonly used in pediatric patients due to increased safety and efficacy associated with the drug delivery system.
Chronic obstructive pulmonary disease is currently leading the smart inhaler application market. Rampant growth of smoking in developed countries and increasing industrialization in developing countries have led to an increase in air pollution and exposure to workplace dust and fumes. Asthma will be the fastest growing market in the near future due to an increasing prevalence of inherited asthma in children and requires immediate symptomatic relief due to constriction of the respiratory muscles.
In the current scenario, North America, with a share of 38%, is leading the regional market for smart inhalers. The key features that contribute to its superiority are the unchecked growth of tobacco smokers and the home of major players such as Propeller Health, Cohero Health, 3 M Healthcare, etc. Europe has a market share of 29% due to the increasing number of pediatric asthma patients and the strategic partnership between drug giants and software companies to offer smart inhaler systems. Asia Pacific, with a market share of 20%, will be the fastest-growing regional segment in the forecast period due to an increase in geriatric patients suffering from chronic pulmonary disease and the emergence of local players competing with western giants in the smart inhalers industry.
Report Scope by Segments:
By Type (2016–2026; US$ Mn)
- Metered Dose Inhalers
- Dry Powder Inhalers
By Application (2016–2026; US$ Mn)
Companies in collaboration with pharmaceutical key players engaged in the development of smart inhalers are Amiko, Adherium Limited, Cohero Health, 3M Healthcare, Opko Health, Inc., Propeller Health, Philips Respironics, Sensirion AG, Teva Pharmaceutical Industries Limited and Vectura Group, Plc.
Key Market Movements:
- Increasing number of geriatric patients suffering with chronic respiratory illness
- Significant increase in the number of tobacco smokers and rising air pollution
- Recent launch of innovative smart apps and wireless services to enhance drug delivery and patient compliance
Key questions answered in this report:
- What are the latest strategic collaboration and merger taking place between IT healthcare providers and pharmaceutical giants providing respiratory inhalers?
- What is the DRO’s associated with smart inhalers market?
- What is the global prevalence rate of COPD and how will smart inhalers impact its treatment?
- What will be the factors responsible for the significant growth of dry powder inhalers in the near future?
- What are the primary features responsible for the supremacy of North America in smart inhalers market?