The smart inhaler market is expected to grow at a compound annual growth rate (CAGR) of 15.7% between 2018 and 2026, rising from US$ 1,006.6 million in 2017 to US$ 3,674.6 million by 2026. Smart inhalers are mounted on respiratory inhalers and nebulizers and provide their services via wireless smart apps and cloud computing systems. They are useful in adjusting the inhaled dose and also remind the patients regularly by sending alert messages to take medication on time, thereby optimally enhancing patient adherence and compliance with inhaled medications prescribed for chronic respiratory diseases such as COPD and asthma.
Market Synopsis
Excellent drug pharmacokinetic/pharmacodynamic modeling and patient compliance drive the metered dose inhaler market's growth.
Metered-dose inhalers (MDIs) are dominating the type segment of the smart inhaler market. The inherent features associated with its formulation are an excellent drug PK/PD profile and enhanced patient compliance. The availability of sensors to monitor and adjust the dose of API and its increasing popularity in geriatric patients further fortify MDIs' market growth. Dry powder inhalers will register excellent growth in the near future on account of rising public awareness related to drug irritation and adverse effects caused by propellants employed in MDIs. Nebulizers are widely employed in infants due to the high degree of safety and efficacy associated with the drug delivery system.
Rampant growth in the tobacco smoking population and increasing air pollution drive the COPD market's growth.
In the present scenario, chronic obstructive pulmonary disorders are leading the application segment for the smart inhaler market. Rampant growth in the tobacco smoking population and increasing air pollution together strengthen the market for COPD. As per the statistics provided by the World Health Organization (WHO) in 2016, approximately 251 million cases were reported worldwide as suffering from COPD. The prevalence rate is higher in the middle- and low-income countries owing to high exposure to occupational dust and fumes.
There is no permanent cure for COPD, but effective medication with smart inhalers can improve the quality of life and lower the risk of death. Asthma holds the second position in the application segment for the smart inhaler market. In most cases, there are several triggering factors for asthma, such as exposure to allergens, dust, smoking, allergic rhinitis, and hereditary factors. Instant medication, such as inhalers and nebulizers, provides immediate symptom relief in asthmatic patients.
In North America, market growth is being driven by the rising prevalence of pulmonary disorders and increased public health awareness.
In the current scenario, North America dominates the regional segment of the smart inhaler market. It has a market share of 38% on account of major factors such as the rising prevalence of chronic disease and rising public health awareness. According to the statistics provided by the Centers for Disease Control and Prevention (CDC), the age-adjusted prevalence rate of COPD in the United States is 6.0%, with a high prevalence reported in the female population.
The presence of key players such as 3M Healthcare, Propeller Health, Cohero Health, and others drive market growth in North America. Europe represents a market share of 29% and is currently the second-largest regional segment for the smart inhaler market. Strategic collaboration between government healthcare agencies and pharmaceutical giants and the increasing number of children suffering from asthma propel the market's growth in Europe. Asia Pacific accounts for 20% of the global smart inhaler market. It will grow at a significant pace during the forecast period from 2018 to 2026, owing to the increasing geriatric population suffering from respiratory illness and the emergence of local IT healthcare companies competing with major players to develop smart sensors and applications for respiratory inhalers.
Periods of History and Forecast
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The market is segmented by type, application, and geography.
Companies in collaboration with pharmaceutical key players engaged in the development of smart inhalers are Amiko, Adherium Limited, Cohero Health, 3M Healthcare, Opko Health, Inc., Propeller Health, Philips Respironics, Sensirion AG, Teva Pharmaceutical Industries Limited, and Vectura Group, Plc.
Key questions are answered in this report.
What are the latest strategic collaborations and mergers taking place between IT healthcare providers and pharmaceutical giants providing respiratory inhalers?
What are the DROs associated with the smart inhaler market?
What is the global prevalence rate of COPD, and how will smart inhalers impact its treatment?
What will be the factors responsible for the significant growth of dry powder inhalers in the near future?
What are the primary features responsible for the supremacy of North America in the smart inhaler market?
Frequently Asked Questions:
The market for Smart Inhalers Market is expected to reach US$ 3,674.6 Mn by 2026.
The Smart Inhalers Market is expected to see significant CAGR growth over the coming years, at 15.7%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Amiko, Adherium Limited, Cohero Health, 3M Healthcare, Opko Health, Inc., Propeller Health, Philips Respironics, Sensirion AG, Teva Pharmaceutical Industries Limited, and Vectura Group are some of the major players in the global market.
