Smart Inhaler Technology Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The global Smart Inhaler Technology Market was valued at USD 118 million in 2020, and is expected to reach USD 1,113.57 million by 2030, and is growing at a CAGR of 25.1% during the forecast period from 2021 to 2030.
Smart Inhaler Technology Market Overview:
The growth of the smart inhalers market is mainly due to the rising prevalence of COPD and asthma. The increase in the prevalence of COPD and asthma is largely due to increased air pollution from both natural phenomena and anthropogenic sources. Two main air pollutants that can severely trigger asthma are ozone in smog and particulate matter in smog, haze and dust. As ozone and particulate matter in the air increase, the likelihood of developing asthma symptoms increases at an alarming rate. Hence, the surge in air pollution is expected to directly lead to rising cases of asthma and COPD, thereby driving the growth of the market.
Inhalers are devices that use a person's breath to deliver medication directly to the lungs. This could benefit patients by delivering drugs directly to the site of disease, allowing the drug to have a greater impact on its intended target and limiting side effects when administered topically. Inhalers are used to treat a variety of conditions, the most common of which are those of the lungs and respiratory system. People with these diseases/conditions need medicines that reduce airway inflammation and obstruction, allowing them to breathe easier and more comfortably. Antibiotics have even been developed for use in inhalers, allowing antibiotics to be delivered directly to the site of infection within the lungs. Asthma and COPD are the two most common conditions requiring inhalation therapy.
Smart Inhaler Technology market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Smart Inhaler Technology market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Smart Inhaler Technology market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant Smart Inhaler Technology Market Dynamics and Growth Factors:
Increasing worldwide demand for digital healthcare solutions
Since changing traditional medical protocols and increasing penetration of IoT in the healthcare and medical devices sector. Moreover, the increasing geriatric population coupled with the surge in respiratory disease incidences is driving the growth of smart inhalers crosswise the world.
Worldwide demand for smart inhalers is increasing
On account of growing air pollution at an upsetting rate and the pulmonary disorders caused due to it. For instance, Air pollution kills an estimated 7 million people worldwide every year from acquaintance to fine particles in polluted air that main to diseases such as stroke, heart disease, lung cancer, chronic obstructive pulmonary diseases, and respiratory infections, including pneumonia.
Industry News and Key Developments
- In February 2020, Teva Respiratory, LLC, a subsidiary of Teva Pharmaceutical Industries Ltd., announced that the ArmonAir Digihaler (Inhalation Powder) has been approved by the US Food and Drug Administration. It is administered using Teva’s Digihaler device. It is approved for the treatment of asthma in patients aged 12 and up.
- In April 2020, AptarGroup, Inc. and Sonmol, a Chinese digital respiratory therapeutics company, collaborated to create a digital therapies and services platform for respiratory and other diseases. This collaboration will help to focus on early detection and prevention measures for chronic respiratory diseases, which will strengthen the case for smart inhalers and connected devices as platforms for improving patient health.
- In August 2020, Propeller Health collaborated with Novartis to connect the digital health platform to the medications Enerzair and Atectura Breezhaler, which will be distributed in Japan to treat uncontrolled asthma. The company’s digital health sensor will assist people in Japan in managing their health conditions via the Propeller app on their smartphones.
Top Key Players include in the Smart Inhaler Technology Market are
3M, Abbott Laboratories, Propeller Health, Teva Pharmaceuticals, Adherium, Cohero Health, and others.
The Smart Inhaler Technology market research report is categorized based on type, applications and region.
On the Basis of Type:
On the Basis of Application:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
On the Basis of Region:
Geographically, the global Smart Inhaler Technology market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Smart Inhaler Technology region is dominating this market in the upcoming future.
North America dominated the global Smart Inhaler Technology Market and is expected to continue to do so during the forecast period. This is due to improved healthcare infrastructure and facilities, an increase in the number of patients suffering from asthma and COPD, the adoption of technologically advanced treatments, the presence of key players, and the region’s rising healthcare expenditure. However, Asia-Pacific is expected to grow significantly due to its large geriatric population, increase in disposable income, surge in healthcare spending, and various development activities. Furthermore, the Asia-Pacific Smart Inhaler Technology Market is expected to grow rapidly in India and China.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Smart Inhaler Technology Market report scope
CAGR of 25.1% during the forecast period.
3M, Abbott Laboratories, Propeller Health, Teva Pharmaceuticals, Adherium, Cohero Health
Regions and Countries Covered
2017 to 2022
2023 to 2030
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Smart Inhaler Technology market?
Who are the key vendors of the global Smart Inhaler Technology market?
What are the leading key industries of the global Smart Inhaler Technology market?
Which factors are responsible for driving the global Smart Inhaler Technology market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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