Smart Inhalers Market Outlook 2021-2025 | AstraZeneca plc, GlaxoSmithKline, Aptar Pharma, Novartis, Boehringer Ingelheim, Teva Pharmaceuticals

An upsurge in the number of people suffering from COPD and asthma is likely to drive the global smart inhalers market size over the forthcoming timeframe. Smart respiratory inhalers have sensors that help with efficient respiratory care, favoring their adoption over conventional inhalers. With the growing prevalence of respiratory chronic ailments, the demand for effective and efficient respiratory care in also growing tremendously.

According to the World Health Organization, asthma is classified as the most commonly diagnosed chronic disease in children across the world. Approximately 339 million people across the globe suffer from the disease and more than 80% of the world’s asthma deaths occur within the low to lower -middle income nations. These numbers point towards a yet untapped growth opportunity for the industry.

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According to a research report by GMI Inc., the global smart inhalers market is expected to be valued at $260 million by 2025.

Below is a brief overview of the top 3 trends influencing smart inhalers market growth:

Increasing demand for MDI based smart inhalers

Metered Dose Inhaler based smart inhalers accounted for a prominent revenue share of 34% of the overall market in 2018 and is forecast to observe similar growth through forecast timespan. The projected growth is expected to be driven by the increasing focus of major pharma companies on collaborations with digital and software firms.

These partnerships and collaborations are expected to help the industry manufacturers launch innovative MDI products in a more convenient matter, thereby augmenting the segment’s industry share.

Rising asthma cases

With respect to disease indication, the asthma segment is projected to observe a growth of approximately 11.8% through the forecast timespan. Asthma is the most widespread chronic disease in the world. In fact, as per the American Academy of Allergy, Asthma & Immunology, about 8.3% of children across the United States were diagnosed with asthma in 2016. The chronic disease is particularly more common in children. In fact, prevalence of the disease increased to 9.4% in 2010 from 8.7% in 2001 among children.

As the number of people suffering from this disease is increasing, it is slated to further expand the segment share in the smart inhalers market landscape.

Growing product adoption across Europe

The growing cases of people diagnosed with asthma in the region are projected to propel the Europe smart inhalers market expansion over the coming years. The industry accounted for over 29% of the overall revenue share in 2018 and is projected to register a healthy CAGR over the forecast timeframe.

Smart inhalers can help asthma as well as COPD patients track and monitor medication use and are increasingly available throughout the region, majorly propelling product adoption. Moreover, increasing efforts by manufacturers towards augmenting product adoption in the regional market is expected to add up to global market growth tremendously.

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Recently, major market players are making substantial efforts to obtain a competitive edge over their industry counterparts through several strategies like acquisitions, collaborations, and new product launches. Taking November 2019 for instance, Lupin in partnership with Aptar Pharma rolled out ADHERO, a smart device designed for metered-dose inhaler to help the treatment being administered to patients suffering from chronic respiratory diseases in India.

The competitive landscape of the global smart inhalers market is inclusive of players such as Zeolr Technologies, Vectura Group, Findair Sp. Z o. o., H&T Presspart Manufacturing Ltd., Teva Pharmaceuticals, Boehringer Ingelheim, Novartis, Aptar Pharma, GlaxoSmithKline, and AstraZeneca among others.

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