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Smart Inhalers Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Smart Inhalers Market
The smart inhalers market size is expected to see strong growth in the next few years. It will grow to $2.36 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to rising prevalence of chronic respiratory diseases (CRDs), growing demand for home healthcare, increasing adoption of digital healthcare solutions. Major trends in the forecast period include technological advancements in smart inhalers, big data analytics, use of chip-on-sensors, advancements in sensor technology.
Market Overview -
Smart inhalers refer to medical devices that integrate connectivity with a mobile app, typically via Bluetooth. It is used to enhance the user experience and provide more personalized treatment decisions for individuals with chronic lung conditions such as asthma and chronic obstructive pulmonary disease (COPD).
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The Impact Of Rising Chronic Respiratory Diseases On The Smart Inhalers Market
The rising prevalence of chronic respiratory diseases (CRDs) is expected to boost the growth of the smart inhaler market going forward. Chronic respiratory diseases (CRDs) encompass a range of long-term conditions that affect the airways and other structures of the lungs. Smart inhalers, by tracking usage and offering reminders for missed doses, manage chronic respiratory diseases such as asthma and COPD, ensuring consistent medication use for symptom control and prevention of exacerbations. For instance, in June 2023, according to reports shared by the Australian Institute of Health and Welfare, an Australia-based national agency, there was a rise in respiratory disease-related deaths from 43,031 in 2020 to 46,551 in 2021 in Australia. Furthermore, in September 2022, according to the data published by The Lancet, a UK-based book and periodic data publishing organization, 11,255 new cases of RSV (respiratory syncytial virus) were recorded in 2021. Therefore, the rising prevalence of chronic respiratory diseases (CRDs) is driving the growth of the smart inhaler market.
Competitive Landscape -
Major companies operating in the smart inhalers market are Novartis AG, AstraZeneca Plc, GlaxoSmithKline Plc., 3M Health Care Limited, Boehringer Ingelheim International GmbH, Teva Pharmaceutical Industries Ltd., Berry Global Group Inc., Aptar Group Inc., Lupin Limited, Findair Sp.Z.o.o., OPKO Health Inc., Nemera France SAS, Vectura Group Limited, Propeller Health, Inspiro Medical Ltd., Biocorp Production, Cohero Health Inc., Pneuma Respiratory Inc., Amiko Digital Health Limited, Cognita Labs LLC, AireHealth Inc., Adherium Ltd., Zeolr Technologies Pvt Ltd., H&T Presspart Manufacturing Ltd.
Innovative Advancements in the Smart Inhaler Market
Major companies operating in the smart inhaler market are developing advanced technologies, such as digital respiratory health solutions, to meet larger customer bases, increase sales, and increase revenue. A digital respiratory health solution refers to a technological intervention or platform designed to address and manage respiratory health conditions through digital means. For instance, in February 2022, Aptar Pharma, a US-based pharma service company, launched the HeroTracker Sense, an add-on connected device and a distinctive digital respiratory health solution designed to transform standard metered-dose inhalers (MDIs) into smart connected healthcare devices. Specifically designed for patients worldwide grappling with chronic respiratory diseases like asthma, COPD, cystic fibrosis, and conditions resulting from COVID-19, this next-generation MDI add-on device focuses on improving patients' lives. By attaching to the canister of an MDI, HeroTracker Sense offers advanced features, including sensors to track inhalation coordination, flow rate, and duration. It provides information through an accompanying app, offering date and time stamps for medication reminders and environmental monitoring alerts such as temperature and humidity. The device aims to enhance patient adherence to prescribed therapies by enabling informed and compliant medication intake.
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Key Segments -
The smart inhalers market covered in this report is segmented -
1) By Type: Dry Powdered Inhalers (DPIs), Metered Dose Inhalers (MDIs)
2) By Indication: Asthma, Chronic Obstructive Pulmonary Disease (COPD), Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
4) By End-User: Hospitals, Homecare Settings, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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