Know Smart Inhalers Market Latest Technological Development and New Trends Watch Out By 2027

The cases of asthma and COPD has been increasing across the globe at a significant rate. During recent years, there has been a rise in the number of smokers as well as air pollution in developed as well as developing countries across the globe. As per estimates provided by the WHO, there are currently 235 million people suffering from asthma across the globe.

As per the Centers for Disease Control and Prevention (CDC), the number of adults above 18 years of age currently having asthma is approximately 19 million in the United States, accounting for almost 7.7% of the total adult population. Whereas, the number of individuals below 18 years of age suffering from asthma is 6.2 million, accounting for 8.4% of the total children population. Also, as per the WHO estimates published during December 2016, there were 383 000 deaths due to asthma in 2015.

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The global smart inhalers market expected to be US$ 1,094.26 Mn in 2018 and is predicted to grow at a CAGR of 25.5% during the forecast period 2019 – 2027, to reach US$ 8,033.21 Mn by 2027.

Company Profiles Includes:

- GlaxoSmithKline plc
- Adherium Ltd.
- Vectura Group plc
- Novartis AG
- Findair Sp. z o. o.
- Cohero Health
- Crux Product Design Ltd
- Teva Pharmaceuticals
- 3M
- Amiko Digital Health Limited

Europe is the second largest geographic market and is expected to be the second most significant revenue contributor throughout the forecast period. The region has witnessed several technological advancements in the field of healthcare by the incorporation of digital technology in order to increase the efficiency of healthcare facilities in the region. The growth is driven by factors such as the prevalence of air pollution, increased smoking habits among the European population as well as the rising focus by market players in the European countries.

Advancements in technology have always had a significant impact in the field of medicine. Smartphone is one of the most dynamic and ubiquitous trends in communication. Mobile phones can also be used for communicating through different platforms such as email, performing Internet searches, and various other applications. Smartphones are one of the fastest growing sectors in the technology industry, and its impact in medicine has already been observed significantly.

Smartphones aren’t just making it easier in terms of day to day chores; the technology is also streamlining care for both physicians and patients. Hospitals are making significant investments in smartphone and secure mobile platforms to enable communications between clinicians and between them and patients, according to a new survey. Clinicians will often use both a hardened device and a consumer-grade smartphone to communicate with one another and patients.

For example, purpose-built devices can be integrated with in-hospital patient call systems, so nurses are paged when a patient hits the call button, increasing responsiveness. The increasing use of smartphones is thereby expected to provide opportunities for the rising use of mobile-based applications by both healthcare providers and patients to streamline workflow and avoid inconvenience such as hospital waiting time, availability of admission beds and others.

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Product Insights

The global smart inhalers market by product was led by inhalers segment. In 2018, the segment of inhalers held the largest market share in the smart inhalers market, by product. The segment is also expected to witness growth at a significant rate during the forecast period, owing to a rise in the cases of asthma, coupled with increased adoption of inhalers by patients.

End User Insights

The global smart inhalers market by end user segment was led by home-care settings segment. In 2018, the home-care settings segment with a significant share in the smart inhalers market, by end user. The segment is also expected to dominate the market in 2027 owing to the rising prevalence of asthma among the developed as well as developing economies

Strategic Insights

There have been limited developments made in the smart inhalers market during recent years. However, growth strategies such as approvals, collaborations, and partnerships have been witnessed in the market of smart inhalers. For instance, during July, 2018 Adherium received FDA approval for its Hailie sensor, which can be used along with ProAir HFA, Ventolin HFA, and Flovent HFA asthma inhalers. Also, during August 2018, Novartis AG and Propeller Health entered into a collaboration for the development of custom add-on sensor for the Breezhaler inhaler, a device intended to be used for the treatment of COPD.

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Key Reasons to buy this report:

- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Global Smart Inhalers Market.

- Highlights key business priorities in order to assist companies to realign their business strategies.

- The key findings and recommendations highlight crucial progressive industry trends in the Smart Inhalers, thereby allowing players to develop effective long term strategies.

- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

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This release was published on openPR.