PUBLISHER: The Business Research Company | PRODUCT CODE: 1464191
PUBLISHER: The Business Research Company | PRODUCT CODE: 1464191
Smart inhalers are medical devices that incorporate connectivity with a mobile app, often through Bluetooth technology. These devices are designed to improve the user experience and offer more personalized treatment decisions for individuals dealing with chronic lung conditions, including asthma and chronic obstructive pulmonary disease (COPD). Smart inhalers aim to enhance medication adherence, monitor inhaler usage, and provide valuable insights into the patient's respiratory health through the integration of digital technologies.
The primary types of smart inhalers include dry powdered inhalers (DPIs) and metered dose inhalers (MDIs). Dry powdered inhalers (DPIs) are a specific type of inhaler designed to deliver medications, including inhaled corticosteroids, directly into the lungs. These inhalers are utilized in the treatment of various conditions such as asthma, chronic obstructive pulmonary disease (COPD), and others. They are distributed through multiple channels, including hospital pharmacies, retail pharmacies, and online pharmacies. Smart inhalers, including DPIs, are employed by various end-users, including hospitals, homecare settings, and other healthcare facilities.
The smart inhalers market research report is one of a series of new reports from The Business Research Company that provides smart inhalers market statistics, including smart inhalers industry global market size, regional shares, competitors with a smart inhalers market share, detailed smart inhalers market segments, market trends, and opportunities, and any further data you may need to thrive in the smart inhalers industry. This smart inhalers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The smart inhalers market size has grown strongly in recent years. It will grow from $1.48 billion in 2023 to $1.62 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth observed in the historical period can be attributed to factors such as increased medical adherence among patients, a growing emphasis on patient-centric healthcare, and an increasing demand for connected healthcare devices. These elements collectively contributed to the adoption and expansion of smart inhalers during the historic period, reflecting a trend towards more patient-engaged and technology-enabled healthcare solutions.
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 anticipated growth in the forecast period for smart inhalers can be attributed to factors such as the rising prevalence of chronic respiratory diseases (CRDs), an increasing demand for home healthcare solutions, and the growing adoption of digital healthcare technologies. Major trends expected in the forecast period include technological advancements in smart inhalers, the utilization of big data analytics for respiratory health management, the incorporation of chip-on-sensors, and advancements in sensor technology, all of which contribute to the evolution of more effective and patient-friendly respiratory care solutions.
The increasing prevalence of chronic respiratory diseases (CRDs) is set to drive the growth of the smart inhaler market. Chronic respiratory diseases encompass a range of long-term conditions affecting the airways and lungs. Smart inhalers play a vital role in managing CRDs such as asthma and COPD by tracking usage and providing reminders for medication doses. This ensures consistent medication use, aiding in symptom control and preventing exacerbations. In Australia, respiratory disease-related deaths increased from 43,031 in 2020 to 46,551 in 2021, as reported by the Australian Institute of Health and Welfare in June 2023. Additionally, data from The Lancet in September 2022 revealed 11,255 new cases of respiratory syncytial virus (RSV) in 2021. The rising prevalence of CRDs is a significant driver for the smart inhaler market.
Major companies in the smart inhaler market are actively developing advanced technologies, such as digital respiratory health solutions, to cater to larger customer bases, increase sales, and boost revenue. Digital respiratory health solutions refer to technological interventions or platforms designed to address and manage respiratory health conditions through digital means. In February 2022, Aptar Pharma introduced the HeroTracker Sense, an add-on connected device serving as a digital respiratory health solution. This device transforms standard metered-dose inhalers (MDIs) into smart connected healthcare devices, focusing on improving the lives of patients with chronic respiratory diseases. HeroTracker Sense, attached to the MDI canister, features sensors to track inhalation coordination, flow rate, and duration. It provides information through a companion app, offering medication reminders with date and time stamps, along with environmental monitoring alerts such as temperature and humidity. The device aims to enhance patient adherence to prescribed therapies by facilitating informed and compliant medication intake.
In August 2022, AptarGroup Inc. acquired worldwide rights to the proprietary Orbital dry powder inhaler (DPI) from Pharmaxis Inc. for an undisclosed amount. Orbital technology is designed to deliver high-payload dry powder to the lungs without the need to reload, allowing patients to inhale powder payloads of up to 400mg in divided doses. This strategic acquisition strengthens Aptar Pharma's position in respiratory drug delivery devices and associated services. Pharmaxis Inc., an Australia-based pharmaceutical company, specializes in the development of dry powder inhalers (DPIs).
Major companies operating in the smart inhalers market report 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.
North America was the largest region in the smart inhalers market in 2023. The regions covered in the smart inhalers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the smart inhalers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The smart inhalers market consists of sales of pressurized MDIs (metered-dose inhalers), breath-actuated MDIs (metered-dose inhalers), and related products. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Smart Inhalers Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on smart inhalers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for smart inhalers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The smart inhalers market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.