Smart Inhalers Market Expected to Claim $191 Million by 2022, Globally : Asia-Pacific is projected to be the fastest growing region during forecast period

Smart inhalers are also known as connected inhalers and sensors and are mainly used as clip-on sensors, which are attached over a normal inhaler (DPIs, MDIs) or nebulizers for the treatment of asthma and COPD. Smart inhalers as defined in this report are defined as devices providing data wirelessly through cloud, internet, or mobile apps. They track the usage of the dose as and when taken by the patients and also alert the patients through timely reminders.

Global Smart Inhalers Market states that the market was $5.8 million in 2015 and is expected to reach $191 million by 2022, growing at a CAGR of 63.3% from 2016 to 2022, according to new research published by Allied Market Research. The inhalers segment captured majority share in 2015, whereas nebulizers segment is projected to grow at fastest CAGR of 64.1% during the forecast period. North America, which accounted for around two-fifths share in 2015, is expected to maintain its lead throughout.

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Under the scope of study, the report only considers devices that provides data digitally and excludes devices such as traditional inhalers or which do not use smart inhalers. In addition, these devices are available for commercial use as well as used for research and development are considered in the report.

The global smart inhalers market is segmented under three different scenarios: moderate growth scenario, rapid growth scenario, and diminishing growth scenario.

Market growth is attributed to the increase in air pollution, incidence of respiratory diseases such as asthma and COPD, and healthcare burden, due to higher cases of asthma and COPD. In addition, probable increase in adherence to smart inhalers is an additional factor for the growth. However, high cost of asthma and COPD treatment, limited availability of smart inhalers, and misuse of data are expected to restrain the market growth.

Smart inhaler products comprise sensors that can be easily attached on the traditional inhalers and nebulizers. The inhalers segment accounted for major share of the overall market, as inhalers are preferred as first option of treatment, portability, and cost effectiveness leading to volume sales. However, nebulizers are expected to grow at the fastest rate due to technological advancements that result in their portability and ease of use.

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North America accounted for the majority of the revenue in 2015 owing to the increased adoption of smart inhalers and increased awareness about asthma and COPD treatment. Asia-Pacific is projected to be the fastest growing region throughout the analysis period with major revenue contribution from China. Improvement in healthcare infrastructure and increase in healthcare expenditure in the emerging markets (such as India and China) is projected to fulfill the unmet medical needs thus, fueling the smart inhalers market growth in the Asia-Pacific region.

Key findings of the smart inhalers market study:

• In the year 2015, inhalers led the global smart inhalers market revenue, and is projected to grow at a CAGR of 63.2%.
• Smart inhalers market for asthma is expected to grow at a CAGR of 62.0%, in terms of revenue, whereas for COPD, is expected to grow at a CAGR of 64.5%.
• COPD indication segment is expected to grow at a CAGR of 64.5% due to increase in COPD incidence rate, rise in adherence rate.
• The majority of smart inhalers are used by R&D centers and this trend is expected to be continued during the forecast period.
• Europe and Asia-Pacific together accounted for around half of the market share in 2015.
• China is the major shareholder, accounting for about one-third share of the Asia-Pacific smart inhalers market, in terms of value.
• U.S. smart inhalers market is expected to grow at a CAGR of 59.5%.
• German smart inhalers market is expected to grow at a CAGR of 68.2% during analysis period.

Recent developments such as acquisition of Inspiro Medical by Opko Health, collaboration between Novartis and Qualcomm, and acquisition of Gecko Health by Teva pharmaceuticals for manufacturing smart inhalers further signify the increase in competition in the smart inhalers industry. These developments are majorly focused on manufacturing smart inhalers as well as launching new devices with inbuilt smart inhalers instead of using an add on sensor to the device; thereby positively increasing the market revenue as well as competition among the manufacturers.

Major players profiled in this report include Vectura Group plc, Adherium Limited, Teva Pharmaceutical Industries Ltd. (Gecko Health Innovations), AstraZeneca plc, Propeller Health, Cohero Health, LLC, Boehringer Ingelheim GmbH, OPKO Health, Inc. (Inspiro Medical Ltd.), GlaxoSmithKline plc, and Novartis AG.

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