Rise in Prevalence of COPD and Asthma anticipated to Drive Global Smart Inhalers Market: Ken Research
As per analysis, “Smart Inhalers Market: Current Analysis and Forecast (2021-2028)” the key companies operating in the global smart inhalers market include Teva Pharmaceuticals Industries Ltd., Cohero Health Inc., Boehringer Ingelheim, Vectura Group, Adherium Limited, Novartis, Omron Corp., 3M, Glaxosmithkline, Astrazeneca and among others. Well-known manufacturers focus on partnering with digital & software players to serve the target audience. In addition, these partnerships also facilitate the manufacturers launch their products more profitably as well as improve their distribution channels.
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By product type, smart inhalers market is bifurcated as nebulizers and inhalers (Metered Dose Inhaler (MDI) and Dry Powder Inhaler (DPI)). Inhalers segment dominates the global market owing to regular use of inhalers that enables the caregivers, patients, and doctors to keep the track of patient's dosage & usage of inhalers. By indication, market is bifurcated as asthma and Chronic Obstructive Pulmonary Disease (COPD). Also in terms of distribution channel, the market can be categorized into retail pharmacies, hospital pharmacies, and online channel. Hospital pharmacies segment is predicted to witness higher growth rate due to easy availability of smart inhalers at hospital pharmacies during the forecast period.
Growth in adoption of smart inhalers for proper management of COPD & asthma, followed by rise in levels of pollution and increase in acceptance towards digital healthcare equipment are some major factors, which are responsible for growth of the smart inhalers market. However, high cost of asthma and COPD treatment and misusing data & data privacy may impact the market. Moreover, increase in research & development (R&D) activities, growth in focus towards advanced treatment protocols and increase in modernization & technological advancements in the healthcare sector are leading opportunities for market.
Based on regional analysis, the North-America is a leading region in global smart inhalers market owing to increase in prevalence of COPD & asthma, rise in per capita income and growth in population susceptible to indoor air pollutants across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to growth in number of product development coupled with growth in healthcare expenditure over the forecast period. It is predicted that future of the global market will be bright as a result of rise in prevalence of respiratory diseases coupled with increase in collaboration between pharma and digital health companies during the forecast period.
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Ankur Gupta, Head Marketing & Communications
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