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Inhaling the Future: The Rise of Smart Inhalers Market

02-06-2023 03:49 AM CET | Health & Medicine

Press release from: Allied Market Research

Smart Inhalers Market

Smart Inhalers Market

Smart Inhalers are medical devices used for the delivery of medication to treat respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD). These inhalers have integrated sensors, Bluetooth technology, and other digital features to monitor and track usage, provide reminders and alerts, and facilitate communication between patients and healthcare providers. The goal of smart inhalers is to improve patient adherence to medication regimens and to provide valuable data and insights to healthcare providers to optimize patient treatment plans.

Allied Market Research has published a study report with the title Smart Inhalers Market Size was Valued at USD 118 million in 2020, and is Projected to Garner USD 1.1 billion by 2031, registering a CAGR of 25.1% from 2021 to 2030.

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The driving factors of the smart inhalers market include:

Growing prevalence of respiratory diseases such as asthma and chronic obstructive pulmonary disease (COPD).

Increasing use of technology to monitor and manage respiratory diseases.

Rising demand for connected and portable devices to improve the convenience and efficiency of medication management.

Growing focus on patient engagement and self-care.

Government initiatives and reimbursement policies promoting the adoption of digital health solutions.

Favorable regulatory environment, with increasing approval of smart inhalers by regulatory bodies such as the FDA.

Growing adoption of wearable devices and digital health solutions by healthcare providers and patients.

Rising investment in research and development of smart inhalers, resulting in the introduction of new and innovative products.

Increasing awareness about the benefits of smart inhalers and their impact on patient outcomes.

The key players operating in the global smart inhalers market are Adherium Limited, Aptar Group Inc. (Cohero Health Inc.), AstraZeneca, Inc., Cognita Labs, Llc., GlaxoSmithKline Plc, Novartis AG, OPKO Health Inc., Philip Morris International Inc. (Vectura Group Plc), ResMed Inc. (Propeller Health) and Teva Pharmaceutical Industries Ltd.

Smart Inhalers Market Segmentation: -

Based on indication, the asthma segment held the highest market share in 2020, accounting for more than half of the global smart inhalers market, and is estimated to maintain its leadership status throughout the forecast period, owing to increasing cases of asthma patients. Moreover, the COPD segment is projected to manifest the highest CAGR of 25.4% from 2021 to 2030, owing to increasing cases of patients suffering from chronic obstructive pulmonary disease (COPD).

Based on distribution channel, the retail pharmacies segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global smart inhalers market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 25.4% from 2021 to 2030, owing to ease of availability of wide range of inhalers in the retail pharmacies.

Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global smart inhalers market. This is owing to rise in respiratory diseases, rapid adoption of advanced technologies and presence of key players across North America. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 27.4% during the forecast period, owing to rapidly growing patient pool, increase in public-private investments, and rise in number of strategic developments among the key players.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

Which are the driving factors responsible for the growth of market?
Which are the roadblock factors of this market?
What are the new opportunities, by which market will grow in coming years?
What are the trends of this market?
Which are main factors responsible for new product launch?
How big is the global & regional market in terms of revenue, sales and production?
How far will the market grow in forecast period in terms of revenue, sales and production?
Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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