Global Smart Inhalers Market Growth Rate to be enhanced by Surging Chronic Respiratory Diseases

According to Inkwood Research, the Global Smart Inhalers Market is projected to register a CAGR of 31.66% in terms of revenue during the forecast period, 2019-2028.

"Browse 31 Market Data Tables and 41 Figures spread over 163 Pages, along with an in-depth TOC on the Global Smart Inhalers Market Forecast 2019-2028."

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Inhalers are devices that are used to deliver medication through inhalation. The drugs used in inhalers are glucocorticoids, insulin, anti-cholinergic, and beta-agonists. They are used for the treatment and prevention of respiratory diseases like COPD and asthma. Smart inhalers entail sensors attached as a clip on to the inhalers that monitor the right intake of dose and technique for inhaling the medication. The data thus acquired is shared with the healthcare professionals.

The data sharing happens through Bluetooth technology and platforms like Hailie. Hailie systems are a type of sensors attached to the inhaler for tracking health and adherence rates. Smart inhalers are said to have increased the adherence rate in patients suffering from asthma and COPD.

Rising Chronic Respiratory Diseases Propels the Global Market

The diseases that affect the airways and other parts of the lungs are known as chronic respiratory diseases. As per a report in 2018, these diseases affect more than 1 billion people across the globe. The respiratory symptoms are both the major indicators and causes of consultation with physicians in primary health care centers. Asthma, allergic rhinitis, sleep apnea, tuberculosis, chronic obstructive pulmonary disease (COPD), are among the preventable chronic respiratory disorders. Among these, asthma is one of the most prominent diseases affecting children, the elderly population, and adults alike. The prevalence of asthma, of severe nature, is noticed more in the Middle East & Africa and Latin America, in comparison to Europe, Asia Pacific, and North America.

Tobacco smoking is cited as the root cause of respiratory diseases, especially chronic obstructive pulmonary disease (COPD). The other reason that trails behind is the rising environmental pollution in industrial lands and metropolitan cities. While ample initiatives are being implemented to tackle COPD, the growing geriatric population is deemed to be a severe challenge in the years to come. These diseases are responsible for the rising hospitalization rates in low- and middle-income countries.

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Smart Nebulizer is set to become the Most Prominent Product with highest CAGR

Smart Nebulizers are machines that turn liquid asthma medication into gas or mist, which is inhaled by the patient. They are either electric- or battery-powered. The mist is inhaled through a facemask or mouthpiece. They come in varied shapes and sizes, and are heavy and noisy. Hence, they required to be plugged in during the process. It is ideal for patients who require routine treatment for asthma and COPD at home. Also, it is one of the conventional methods utilized for administering medical aerosol.

The smart nebulizer is further categorized into pneumatic nebulizer, ultrasonic nebulizer, and mesh nebulizer. In terms of portability, it is segregated into tabletop nebulizer and portable nebulizer. The pneumatic nebulizer is the most commonly used device, and is in huge demand and preference as a result of its improved suitability toward all types of medicines. The rising demand is also attributed to effective drug delivery and ease of handling.

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Asia Pacific is projected to lead from the front with highest CAGR by 2028

Major countries that propel the growth of the Asia Pacific market are Japan, India, China, South Korea, Vietnam, Thailand, and Australia & New Zealand. The region of Asia Pacific is deemed to be a potential market for smart inhalers. This is owed to the rapid development of healthcare infrastructure, increasing disposable income, and the rising awareness with regard to the benefits of smart inhalers. China and India are witnessing fast-paced economic developments, along with housing a large population, all of which will provide ample growth opportunities for the market under study.

The market is projected to encompass several opportunities for new companies. The market also has the presence of many small and large companies, and is thus fragmented. The competition among the players is evaluated to be strong. Some of the well-established firms in the market include, Adherium Limited, Boehringer Ingelheim GmbH, GlaxoSmithKline PLC, Novartis AG, Teva Pharmaceutical Industries Limited, etc.

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