According to a new report published by Reports Monitor titled, “Global Smart Inhaler Market” the global smart inhaler market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Smart inhaler is an innovative device that keeps a track on medicine volume for consumption by the patients suffering from chronic obstructive pulmonary disease (COPD). The sensors are attached externally to the normal inhalers and nebulizers, which enables tracking. COPD and asthma patients are given medicine through functional inhalers to treat their breathing problem. Medical complications that could occur due to missed dose can be alleviated with the use of smart inhalers. These devices are connected with the cell phone or any computing device which notify the patient in case any dose is missed or forgotten.
One such application is “The Smartinhaler™ Platform” which provides the patients of asthma and COPD necessary tools to monitor and regulate medication usage, facilitating the increased medication cohesion. It is the first device which reminds when to take medication, when don't, and is also clinically proven to improve asthma. Smart inhalers are considered as future of respiratory health management.
It is attributed that, around 300 million people globally are suffering from respiratory diseases such as asthma, bronchitis or other breathing problems. Nearly, every year around 15.6 million Americans seek medication due to asthma-related problems (statista.com).
The increasing number of patients suffering from breathing problems worldwide drives the market growth. Inhalers are the emergency assistance or the first-aid give to asthma patients. Rising awareness about this neoteric approach in the medication of asthma and COPD patients is a key factor that drives the global smart inhalers market in the next coming years.
However, the high cost and lack of availability of devices across several regions is expected to hinder the market.
The global smart inhaler market can be bifurcated on the basis of product type such as inhalers, which is further classified as Dry Powder Inhalers (DPIs) Metered Dose Inhalers (MDIs) and Nebulizers.
Furthermore, it can be classified on the basis of indication such as asthma and COPD.
Market can also be categorized on the basis on end-user which are patients and R&D.
The global Smart inhalers market is divided on regional basis into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. North America has the largest market potential, because of government initiatives and large number of asthma patients in USA followed by Canada and Mexico.Europe shares the same potential, including countries like Germany, France, U.K., Italy.
APAC held the lowest market share in the global market due to low product penetration and limited presence of vendors in the region. However, the market is expected to emerge as the fastest growing market due to the increasing product adoption in developing countries such as India and China. LAMEA region have the least share, but is expected to grow in countries like Brazil, Turkey, UAE.
The major market vendors in this market are OPKO Health Inc, Teva Pharmaceuticals Industries Ltd., AstraZeneca plc, Propeller Health, Adherium Limited., Vectura Group plc, GlaxoSmithKline plc, Norvartis, Boehringer Ingelheim GmbH, Cohero Health LLC.
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